Buying or selling a home?

Buying a home is stressful for a lot of people, but it's not that hard with some up-front planning. I like to furnish buyers with an outline of the entire deal so they understand exactly what to expect. Here are my nine steps to buying a home. When you're ready to get started, you can contact me here or e-mail me at . I'm happy to answer any questions you have about this information.

Step 1 – Get ready to purchase a home
There are a lot of things you should contemplate before you look for a home. It's likely that you'll want to make a check list of features you want to have, get a plan of what school districts and neighborhoods you'd like to live in, and start working on your budget. Keeping your mortgage payment less than 1/3 of your monthly income is a good guideline to adhere to.

Step 2 – Contact a real estate agent in Plantsville
This is where Perrella Realty, LLC. can help. We can book a time to meet so we can talk about why you want to buy a home and get an idea of your plans for the future. We'll discuss neighborhoods, school districts in the Plantsville area, the mortgage industry, and any additional economic factors that may potentially affect your purchase today or in the future.

I'll also assist you with getting started on your loan. I work with some of the best mortgage professionals in Plantsville, so you'll be in great hands. They can assist you in deciding which kind of loan is best for you and help you get approved.

Step 3 – Start house-hunting
After we meet, I'll begin searching for available houses on the market that meet your needs. I'll preview most of the homes and remove the duds, and then we'll schedule appointments to tour the homes at a time that's convenient for you.

As we view the homes, I'll show you the positive features and negative ones. And I'll ask you to point out what things you like and don't like. It's common for buyers to revise their list of must-haves as we view houses and some features become more substantial than others. If that's the situation, I'll go back through all the listings another time and narrow it down to the house you've been waiting for.

Step 4 – Understand the housing market
My knowledge of the Plantsville housing market is a fundamental agent in your house search. I am familiar with all the neighborhoods and schools, and I can alert you to certain areas are "hot" and call for immediate action and the ones that are "cold" and allow for thoughtful consideration.

As we tour 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 be sure to ask plenty of questions, as any REALTOR will convince you they understand the home market. If it seems like they don't know everything, call me at 860-621-7130 or e-mail me at , and I'll be more than happy to answer any questions you might have. My knowledge of the market will keep you a step ahead through the entire deal.

Step 5 – Find the house you've been waiting for
I know we'll find the house of your dreams in Plantsville. When that happens, I'll thoroughly develop your home purchase offer. The offer will be tailored with your needs in mind and the home, including many contingencies. A few examples are getting financing, finishing the home inspection, and a clear title.

Upon sending in your purchase offer, you'll want to present "earnest money." This is a cash deposit made to a home seller to secure an offer to buy the property, and it's often put towards the closing costs. If your offer is accepted, we should close on the home within 30 to 60 days after. This allows sufficient time for your mortgage financing.

Step 6 – Negotiate the deal
Unfortunately most deals aren't closed on the first offer, and it's extremely common to receive a counter offer. Don't let it intimidate you. We'll consider whether or not to consent to the counter offer, submit our own counter offer, or decline the seller's offer and go on.

How aggressively we negotiate the contract depends on the state of the market. We'll also work within your financing constraints. And when it's all said and done, we'll assemble a contract that is best for you.

Step 7 – Secure a loan
After the deal is signed, you'll start working with your lender to close the loan. If you're already pre-qualified, this won't take very long at all. But you'll want to keep in close contact with your mortgage lender. And I'll look after all the property information your lender will need to close the loan.

Step 8 – Close the deal
You'll get a Loan Estimate (LE) detailing your closing costs from your mortgage lender within three days of accepting your loan application. The estimate is formed from the loan amount. RESPA requirements mandate that it has to involve all closing costs and be within a close range of accuracy, and I'll analyze the estimate and let you know if it all looks all right.

Then it's time to close on your home. This should happen at a title company or escrow office and should be a smooth and calm event.

Step 9 – Move in
Congratulations! Now you can move into your new house. Enjoy it. And if you need anything, just call me at 860-621-7130 or e-mail me at .

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