Purchasing a home in Plantsville?
Purchasing a home is intimidating for many people, but it isn't very difficult with a bit of planning ahead of time.
I like to supply buyers with a road map of the whole deal so they'll understand exactly what to expect.
Below are my nine steps to purchasing a home.
When you're ready to get started, simply contact me here or e-mail me at . I'm glad to answer any questions you have about this information.
Step 1 – Prepare to purchase a home
Before you begin searching for a home, there are several things you need to take into account.
When you begin your search, you'll want to assemble a list of must-haves, get a feel for what school districts and neighborhoods you want to live in, and begin planning your budget.
A good rule to go by is that your mortgage payment should be around a third of your net monthly income.
Step 2 – Get in touch with a real estate agent
That's where I can help.
I'd like to book a time to get together with you and communicate with you regarding why you want to buy a home and get an idea of your plans for the future.
We'll talk about the mortgage industry, other economic factors that could affect your purchase today or in the future, as well as neighborhoods and school districts in the Plantsville area.
I can also assist you in getting started on your loan.
There are some great mortgage professionals in Plantsville, and I work with a lot of them, so you can rest assured that you're in great hands.
They'll help you determine which type of loan is best for you, as well as help you get approved.
Step 3 – Start your search
After our initial meeting, I'll start finding homes on the market that are a great fit for you.
I'll research many of the houses and reject the duds, and then we'll schedule appointments to view the houses when it's most convenient for you.
As we view the houses, I'll point out positive features and bad ones. I'll also ask you to tell us about things you like and don't like.
It's pretty common for buyers to revise their wish list as we view homes and some features become far more substantial than others.
If that's the situation, I'll search the listings once more and narrow it down to the house of your dreams.
Step 4 – Comprehend the housing market
My understanding of the Plantsville home market is an imperative factor in your house search. I am acquainted with all the neighborhoods and schools, and I will let you know certain areas are "hot" and warrant immediate action and the ones that are "cool" and allow for thoughtful consideration.
When we tour homes, I'll let you know when the seller's asking price has room for bargaining and also when I believe the house is "priced to sell."
Any REALTOR will convince you they truly know the home market, but be on guard, and make sure you ask plenty of questions.
If things don't add up, contact me at 860-621-7130 or e-mail me at , and I'd be glad to answer your questions. My understanding of the market will keep you a step above the rest through the entire process.
Step 5 – Find the home you've been waiting for
We'll find your dream house in Plantsville, and when that happens, I'll precisely develop your purchase offer. The offer will be tailored keeping your needs in mind and the home, including many contingencies, such as getting financing, finishing the inspection, and a clean title.
When sending in your purchase offer, most likely you'll want to submit "earnest money." This is a cash deposit made to the seller to secure the offer to buy the property and is often put towards the closing costs. If the offer is accepted, we should close on the property within 30 to 60 days after. This allows plenty of time for your mortgage financing.
Step 6 – Negotiate the deal
Most deals don't close on the beginning offer – it's extremely common to receive a counter offer. But don't let it discourage you. We'll discuss whether or not to take the counter offer, present our own counter offer, or decline the seller's offer and go on.
The state of the market determines how aggressively we negotiate the deal.
In addition, we'll work within your financing limits. And at the end of the day, we'll assemble a contract that is best for you.
Step 7 – Obtain financing
Once we sign the final deal, you'll begin working with your lender to close the loan.
This shouldn't take much time at all if you're already pre-qualified, but you should to keep in close contact with your mortgage lender.
And I'll deal with all the property information your lender needs to close the loan.
Step 8 – Close the deal
You'll get a Loan Estimate (LE) of your closing costs from your lender within three days of getting your application.
This estimate depends on the loan amount, and RESPA requirements require that it has to include all closing costs and be within a precise range of accuracy. I'll go over the estimate and let you know if everything looks permissible.
Then it's time to close on your home. This should occur at a title company or escrow office and will most often be a smooth and easygoing occasion.
Step 9 – Move in
Congratulations! Now you can move into your new house. Enjoy it. And if you need anything or have any questions, simply contact me at 860-621-7130 or e-mail me at .