Contemplating purchasing your home in Plantsville? Perrella Realty, LLC. can help.
Buying a home intimidates a lot of people. However, with a bit of up-front planning, it isn't too difficult.
I like to provide buyers with an outline of the whole deal so they'll know exactly what they can expect.
Below are my nine steps to buying a home.
If you have questions regarding this information or if you're prepared to get started, just contact me here or e-mail me at .
Step 1 – Get ready to buy a home
There are many things you need to do before beginning your home search.
You'll want to form a list of must-have features, get an idea of what neighborhoods you'd like to live in, and start working on your budget.
Ensuring your mortgage payment is no more than a third of your monthly income is a good guideline to go by.
Step 2 – Contact a real estate agent
This is where I come in.
We can set up a time to meet so we can talk about your real estate needs and get an idea of your future plans.
We'll talk about everything from neighborhoods, school districts in the Plantsville area, the mortgage and housing industries, to any other economic factors that might affect your buying decision today or in the future.
I'll also assist you with getting started on your loan.
I partner with some of Plantsville's finest mortgage professionals, so you can rest assured that you're in great hands.
They'll help you figure out which type of loan is best for you, as well as help you get qualified.
Step 3 – Start looking
After we meet for the first time, I'll begin looking for available houses on the market that are a great fit for you.
I'll research most of the homes and throw out the duds, and then we'll book appointments to view the houses when it's convenient for you.
As we tour houses, I'll identify good features, as well as negative ones. I'll even ask you to point out what things you like and dislike.
It's common for buyers to revise their must-have list as we view homes and some things become more essential than others.
If that's the situation, I'll go back through all the listings one more time and narrow it down to the house of your dreams.
Step 4 – Know the market
My knowledge of the Plantsville housing market is a crucial aspect in your home search. I am acquainted with all the school districts and neighborhoods, and I'll communicate some neighborhoods are "hot" and demand prompt action and the ones that are "cool" and allow for more analysis.
As we view houses, I'll be sure to tell you if the asking price has room for bargaining or if I believe the house is "priced to sell."
Every real estate agent will tell you they truly understand the home market, but be on guard, and be sure to ask your agent lots of questions.
If it seems like they don't know everything, call me at 860-621-7130 or e-mail me at , and I'd be happy to answer any questions you have. My market knowledge will help you stay a step ahead through the entire deal.
Step 5 – Find the home you've been waiting for
We'll find your dream home in the Plantsville area, and when we do, I'll meticulously create your real estate purchase offer. The offer will be tailored keeping your needs in mind and the home, including a lot of contingencies, such as obtaining financing, carrying out the home inspection, and a clear title.
When we turn in your purchase offer, you'll probably want to submit "earnest money." This is a cash deposit given to the home seller to secure the offer to buy the property. The amount is often applied to the cost of closing. If the seller accepts the offer, we should close on the property within 30 to 60 days after. This allows plenty of time for your mortgage financing.
Step 6 – Negotiate
Unfortunately most deals aren't closed on the initial offer. It's pretty common to receive a counter offer. Don't let this intimidate you. We'll discuss whether or not to consent to the counter offer, propose our own counter offer, or reject the seller's offer and go on.
Market circumstances determine how aggressively we negotiate the deal.
In addition, we'll work within your financing constraints. And at the end of the day, we'll formulate a deal that is best for you.
Step 7 – Secure your loan
After the contract is complete, you'll begin working with your mortgage lender to close the loan.
It won't take much time at all if you're already pre-approved, but you should to keep in close contact with your lender.
And I'll look after all the property information your lender will need to close the loan.
Step 8 – Close the deal
Your lender will provide you with a Loan Estimate (LE) of your closing costs within three days of taking your application. You'll get a Loan Estimate (LE) of closing costs from your mortgage lender within three days of getting your loan application.
This estimate depends on the loan amount, and RESPA requirements order that it has to contain all closing costs and be within a precise range of accuracy. I'll study the estimate and let you know if it all looks all right.
Then it's time to close on your house. This will most often take place at a title company or escrow office and should be a smooth and relaxing occasion.
Step 9 – Move in
Congratulations! It's time to move into your new house. Enjoy it. And if you have any questions, make sure you call me at 860-621-7130 or e-mail me at .