Contemplating purchasing a home in Plantsville? Perrella Realty, LLC. can help.
Purchasing a home is intimidating for most people, but it's not all that complex with some up-front planning.
So they know exactly what to expect, I will supply buyers with an outline of the entire deal.
Below are my nine steps to buying a home.
Should you have questions about any of this information or if you're ready to get started, simply contact me here or e-mail me at .
Step 1 – Get ready to buy
Before you begin looking for a home, there are a lot of things you should take into account.
You'll probably want to form a checklist of items you want to have, get a feel for what neighborhoods and school districts you want to live in, and start planning around your budget.
Ensuring your mortgage payment is around 1/3 of your net monthly income is a good rule to adhere to.
Step 2 – Communicate with a real estate agent in Plantsville
That's where I can help.
We'll set up a time to meet so we can talk about your real estate needs and get an idea of your plans for the future.
We'll discuss neighborhoods, school districts in the Plantsville area, the mortgage and housing industries, and any other economic factors that may affect your purchase today or in the future.
I can also help you get started on your loan.
I work with some of the best mortgage professionals in Plantsville, so you're in great hands.
They can assist you in determining which type of loan is best for you and help you get qualified.
Step 3 – Begin your search
After our initial meeting, I'll start searching for houses on the market that are good for you.
I'll preview many of the homes and reject the duds, and then we'll schedule appointments to tour the houses when it's convenient for you.
When we tour homes, I'll show you the positive features and negative ones. And I'll ask you about things you like and dislike.
Oftentimes, buyers revise their wish list as we tour homes and some things become far more crucial than others.
If such is the case, I'll look through all the listings once more and narrow it down to the house you've been wishing for.
Step 4 – Get a grasp of the housing market
My understanding of the Plantsville housing market is a fundamental component in your house search. I'm familiar with all the schools and neighborhoods, and I'll communicate what areas are "hot" and call for prompt action and the ones that are "cool" and allow for more consideration.
As we view houses, I'll be sure to tell you when the asking price has room for bargaining and also when I trust the home is "priced to sell."
Be mindful and be sure to ask your agent plenty of questions, as any real estate agent in Plantsville will claim to truly understand the market.
If it seems like they don't know everything, call me at 860-621-7130 or e-mail me at , and I'd be more than happy to answer any questions you might have. My market knowledge will keep you a step above the rest through the entire deal.
Step 5 – Find the house you've been looking for
We'll find your dream home in the Plantsville area, and when we do, I'll carefully create your home purchase offer. The offer will be tailored keeping your needs in mind and the home, including a lot of contingencies, such as acquiring financing, completing the home inspection, and a clear title.
Upon presenting your offer, you'll need to present "earnest money." This is a cash deposit made to a seller to secure the offer to purchase the property. The amount is typically put towards the cost of closing. If your offer is accepted by the seller, we should close within 30 to 60 days afterward. This allows plenty of time for your mortgage financing.
Step 6 – Negotiate
A lot of contracts aren't closed on the first offer – it's pretty common to receive a counter offer. Don't let it intimidate you. We'll discuss whether or not to consent to the counter offer, submit our own counter offer, or reject the seller's offer and go on.
Market circumstances determine how aggressively we negotiate the contract.
In addition, we'll work within your financing constraints. And when it's all said and done, we'll create a contract that is best for you.
Step 7 – Get a loan
Upon completion of the contract, you'll start working with your mortgage lender to close the loan.
If you're already pre-qualified, this won't take much time at all. However, you need to stay in close contact with your mortgage lender.
And I'll manage all the property information your mortgage lender needs to close the loan.
Step 8 – Close the deal
Your lender will furnish you with a Loan Estimate (LE) outlining your closing costs within three days of taking your loan application. You'll get a Loan Estimate (LE) of your closing costs from your mortgage lender within three days of taking your application.
The estimate is based on the loan amount. RESPA requirements order that it has to involve all closing costs and be within a tight range of accuracy, and I'll analyze the estimate and let you know if it all looks permissible.
Then it's time to close on your house. This will most often happen at a title company or escrow office and should be a smooth and relaxing event.
Step 9 – Move in
Congratulations! It's time to move into your new house. Enjoy it. And if you have any questions, be sure to call me at 860-621-7130 or e-mail me at .