Are you buying a new home in Plantsville?
With some up-front planning, buying a home isn't all that complex, but the event is stressful for many people.
So they know exactly what to expect, I will provide buyers with an outline of the whole deal.
Below are my nine steps to purchasing a home.
If you have any questions about this information or if you're ready to get started, you can contact me here or e-mail me at .
Step 1 – Get ready to purchase a home
There are a lot of things you should consider before you search for a home.
It's likely that you'll want to assemble an outline of must-have features, get a feel for what school districts and neighborhoods you'd like to live in, and begin working on your budget.
Keeping your mortgage payment around a third of your net monthly income is a good rule to go by.
Step 2 – Communicate with a real estate agent
This is where Perrella Realty, LLC. can help.
I'd be more than happy to set up a time to meet with you and communicate with you regarding your real estate needs and get an idea of your upcoming plans.
We'll talk about the mortgage and housing industries, other economic factors that could affect your buying decision today or in the future, as well as neighborhoods and school districts in the Plantsville area.
In addition, I'll assist you in getting started on your loan.
I work with some of the finest mortgage professionals in Plantsville, so you're in great hands.
They will assist you with figuring out which type of loan is best for you and help you get approved.
Step 3 – Begin your search
After our first meeting, I'll begin looking for available homes on the market that are good for you.
I'll preview many of the houses and throw out the bad ones, and then we'll book appointments to view the homes whenever it's most convenient for you.
When we tour the homes, I'll identify good features and negative ones. I'll also ask you to tell us about things you like and don't like.
It's widely common for buyers to update their must-have list as we view houses and some features become more crucial than others.
If that happens, I'll look through the listings once more and narrow it down to the house you've been waiting for.
Step 4 – Comprehend the market
My knowledge of the Plantsville home market is a crucial component in your house search. I'm informed of all the neighborhoods and school districts, and I will let you know some neighborhoods are "hot" and demand immediate action and the ones that are "cool" and allow for careful consideration.
When we view houses, I'll let you know if the list price has room for bargaining or if I believe the home is "priced to sell."
When working with an agent, be careful and make sure you ask lots of questions. Every real estate agent in Plantsville will claim to understand the housing market.
If things don't add up, contact me at 860-621-7130 or e-mail me at , and I'll be happy to answer any questions you may have. My knowledge of the market will keep you a step above the rest through the entire process.
Step 5 – Find the home of your dreams
I'm sure we'll find your dream house in the Plantsville area. When that happens, I'll carefully develop your home purchase offer. The offer will be tailored keeping your needs in mind and the home, including some contingencies, such as getting financing, carrying out the home inspection, and a clean title.
When we present your offer, you'll need to submit "earnest money." This is a cash deposit made to the seller to secure the offer to purchase the property. The amount is typically put towards the cost of closing. If your offer is accepted, we should close within 30 to 60 days after. This allows enough time for your mortgage financing.
Step 6 – Negotiate
Unfortunately most deals don't close on the initial offer – it's pretty common to receive a counter offer. But don't let this alarm you. We'll consider whether or not to agree to the counter offer, present our own counter offer, or reject the seller's offer and move on.
Market circumstances will play a vital role in how aggressively we negotiate the deal.
In addition, we'll work within your financing constraints. And at the end of the day, we'll create a contract that is best for you.
Step 7 – Secure a loan
After we sign the final contract, you'll start working with your lender to close the loan.
If you're already pre-approved, it won't take much time at all. But you'll want to stay in close contact with your mortgage lender.
And I'll care for all the property information your lender needs to close the loan.
Step 8 – Close the deal
You'll get a Loan Estimate (LE) outlining your closing costs from your mortgage lender within three days of getting your loan application.
This estimate is formed from the loan amount, and RESPA requirements require that it has to contain all closing costs and fall within a close range of accuracy. I'll examine the estimate and let you know if everything looks permissible.
Then we'll close on your house. This will likely happen at a title company or escrow office and will most often be a smooth and easygoing occurrence.
Step 9 – Move in
Congratulations! Now you can move into your new home. Enjoy it. And if you have any questions, just call me at 860-621-7130 or e-mail me at .