Buying a home is an intimidating event for many people. However, with some planning ahead of time, it's not all that difficult.
I like to provide buyers with a road map of the entire deal so they'll know exactly what to expect.
These are my nine steps to purchasing a home.
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When you're ready to get started, simply contact me here or send e-mail to rixon@verizon.net. I'm glad to address any questions you have about this information.
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Step 1 – Prepare to buy
There are many things you need to do before you search for a home.
It's likely that you'll want to assemble a list of items you need, plan for what school districts and neighborhoods you'd like to live in, and start working on your budget.
A good rule of thumb to follow is that your mortgage payment should be less than or close to 30 percent of your net monthly income.
Step 2 – Talk to a real estate agent in Seaville
That's where I can help.
We'll schedule a time to meet so we can talk about your real estate needs and get an idea of your upcoming plans.
We'll discuss everything from neighborhoods, schools in the Seaville area, the mortgage industry, to any other economic factors that may affect your purchase today or in the future.
I'll also help you get started on your loan.
There are some excellent mortgage professionals in Seaville, and I partner with a lot of them, so you're in great hands.
They can help you figure out which type of loan is best for you, as well as help you get approved.
Step 3 – Begin looking for a home
After our initial meeting, I'll begin finding available houses on the market that meet your needs.
I'll preview many of the houses and eliminate the bad ones, and then we'll set up appointments to tour the houses when it's most convenient for you.
When we view the houses, I'll identify positive features, as well as bad ones. I'll even ask you what things you like and don't like.
For the most part, buyers change their list of must-haves as we tour houses and some items become far more necessary than others.
If that's the case, I'll look through all the listings one more time and narrow it down to the home of your dreams.
Step 4 – Get a grasp of the housing market
Your agent's understanding of the Seaville home market is a crucial aspect in your house search. And I assure you I'm mindful of all the schools and neighborhoods, and I can alert you to certain areas are "hot" and call for immediate action and some that are "cold" and allow for thoughtful consideration.
When we view houses, I'll make sure to communicate if the seller's list price has room for negotiation or if I believe the home is "priced to sell."
When working with an agent, trust your instincts and be sure to ask a lot of questions, as any REALTOR® will tell you they truly know the market.
If things don't add up, call me at (609) 390-8821 or e-mail me at rixon@verizon.net, and I'd be more than happy to answer any questions you might have. My knowledge of the market will help you stay a step above the rest through the entire deal.
Step 5 – Find the house of your dreams
I'm confident we'll find your dream house in Seaville. When we do, I'll carefully develop your home purchase offer. The offer will be tailored with your needs in mind, including many contingencies. A few examples are obtaining financing, completing the home inspection, and a clear title.
When presenting your offer, you'll want to submit "earnest money." This is a cash deposit submitted to a home seller to secure an offer to purchase the property and is often put towards the cost of closing. If the seller accepts the offer, we should close on the home within 30 to 60 days after. This allows necessary time for your mortgage financing.
Step 6 – Negotiate
Unfortunately most deals don't close on the beginning offer, and it's extremely common to receive a counter offer. But don't let this discourage you. We'll figure out whether or not to agree to the counter offer, submit our own counter offer, or refuse the seller's offer and move on.
Market conditions determine how aggressively we negotiate the deal.
We'll also work within your financing constraints. And at the end of the day, we'll put together a deal that's best for you.
Step 7 – Obtain your loan
Upon signing the contract, you'll begin working with your lender to close the loan.
This shouldn't take very long at all if you're pre-approved, but you need to stay in close contact with your lender.
And I'll handle all the property information your mortgage lender needs to close the loan.
Step 8 – Close the deal
You'll get a Good Faith Estimate (GFE) outlining closing costs from your lender within three days of taking your application.
The estimate rests on the loan amount. RESPA requirements dictate that it has to contain all closing costs and fall within a strict range of accuracy, and I'll analyze the estimate and let you know if it all looks permissible.
Then we'll close on your house. This will probably happen at a title company or escrow office and will likely be a smooth and peaceful occurrence.
Step 9 – Move in
You made it! It's time to move into your new house. Enjoy it. And if you have any questions, make sure you call me at (609) 390-8821 or send me an e-mail.