Buying or selling a home? Perrella Realty, LLC. can help.
Buying a home intimidates most people. However, with a bit of up-front planning, it isn't that difficult.
So they understand exactly what they can expect, I'll give buyers an outline of the entire deal.
Below are my nine steps to buying a home.
If you have any questions regarding this information or if you're ready to get started, just contact me here or e-mail me at .
Step 1 – Get ready to purchase a home
Before you start your home search, there are a lot of things you should contemplate.
You'll probably want to make a checklist of items you need, get a feeling for what school districts and neighborhoods you'd like to live in, and begin planning around your budget.
Ensuring your mortgage payment is less than or close to a third of your monthly income is a good guideline to follow.
Step 2 – Connect with a real estate agent
That's where I can help.
We can arrange a time to get together so we can talk about your real estate needs and get an idea of your future plans.
We'll discuss everything from neighborhoods, school districts in the Plantsville area, the mortgage industry, to any other economic factors that could affect your buying decision today or in the future.
I'll also assist you in getting started on your loan.
There are some excellent mortgage professionals in Plantsville, and I work with a lot of them, so you'll be in great hands.
They will help you choose which type of loan is best for you, as well as help you get qualified.
Step 3 – Begin your search
Following our initial meeting, I'll begin searching for houses on the market that suit your needs.
I'll research many of the homes and exclude the duds, and then we'll schedule appointments to tour the houses whenever it's convenient for you.
As we tour the houses, I'll show you the good features and bad ones. I'll even ask you to talk about things you like and don't like.
It's common for buyers to revise their wish list as we view homes and some items become more crucial than others.
If such is the case, I'll go back through the listings one more time and trim it down to the house you've been wishing for.
Step 4 – Get a grasp of the housing market
An agent's knowledge of the Plantsville home market is an imperative aspect in your house search. And I assure you I'm mindful of all the school districts and neighborhoods, and I'll communicate some districts are "hot" and demand immediate action and the ones that are "cold" and allow for more analysis.
As we tour homes, I'll let you know when the seller's list price has room for negotiation and when I believe the house is "priced to sell."
When working with an agent, be mindful and make sure you ask plenty of questions, as every real estate agent in Plantsville will claim to understand the housing market.
If it doesn't seem like they know everything, contact me at 860-621-7130 or e-mail me at , and I'll be glad to answer any questions you might have. My market knowledge will help you stay a step ahead through the entire process.
Step 5 – Find your dream home
I'm positive we'll find your dream house in Plantsville. When we do, I'll precisely develop your home purchase offer. The offer will be tailored with your needs in mind and the home, including some contingencies. A few examples are obtaining financing, completing the inspection, and a clear title.
Upon submitting your offer, you'll likely need to present "earnest money." This is a cash deposit submitted to the home seller to secure the offer to buy the property, and it's usually applied to the closing costs. If the offer is accepted, we should close on the home about 30 to 60 days after. This allows plenty of time for your mortgage financing.
Step 6 – Negotiate
A lot of deals don't close on the initial offer – it's extremely common to receive a counter offer. Don't let this discourage you. We'll talk about whether or not to accept the counter offer, submit our own counter offer, or reject the seller's offer and go on.
Market conditions will play a role in how aggressively we negotiate the deal.
We'll also work within your financing limits. And at the end of the day, we'll create a contract that's best for you.
Step 7 – Obtain financing
Once we sign the final deal, you'll begin working with your lender to close the loan.
If you're pre-approved, this shouldn't take very long at all. But you'll need to stay in close contact with your lender.
And I'll deal with all the property information your mortgage lender needs to close the loan.
Step 8 – Close the deal
Your lender will give you a Loan Estimate (LE) detailing closing costs within three days of taking your loan application. You'll get a Loan Estimate (LE) outlining your closing costs from your lender within three days of getting your application.
This estimate is based on the loan amount, and RESPA requirements mandate that it has to include all closing costs and fall within a precise range of accuracy. I'll examine the estimate and let you know if it all looks permissible.
Then it's time to close on your home. This will likely happen at a title company or escrow office and is often a smooth and relaxed occurrence.
Step 9 – Move in
Congratulations! It's time to move into your new home. Enjoy it. And if you need anything or have any questions, just contact me at 860-621-7130 or e-mail me at .