Buying a home is a stressful event for many people. However, with a bit of up-front planning, it isn't very hard.
I like to provide buyers with an outline of the whole deal so they know exactly what they can expect.
These are my nine steps to purchasing a home.
Should you have any questions regarding this information or if you're prepared to get started, you can contact me here or send e-mail to firstname.lastname@example.org.
Step 1 – Prepare to purchase
There are several things you should take into account before you search for a home.
When you start your search, you'll probably want to form a checklist of must-have features, get a feel for what school districts you'd like to live in, and start planning your budget.
A good principle to adhere to is that your mortgage payment should be around a third of your net monthly income.
Step 2 – Get with a real estate agent in Speonk
That's where I can help.
I'll set up a time to meet so we can talk about why you want to buy a home and get an idea of your future plans.
We'll discuss everything from neighborhoods, school districts in the Speonk area, the mortgage industry, to any other economic factors that could potentially affect your purchase today or in the future.
In addition, I'll help you facilitate the loan process.
There are some great mortgage professionals in Speonk, and I partner with a lot of them, so you're in great hands.
They'll help you figure out which kind of loan is best for you, as well as help you get qualified.
Step 3 – Begin your search
After our first meeting, I'll start looking for available homes on the market that are good for you.
I'll preview many of the homes and exclude the bad ones, and then we'll set up appointments to view the houses when it's convenient for you.
When we tour homes, I'll identify positive features and bad ones. And I'll ask you to tell me about things you like and don't like.
It's common for buyers to change their list of must-haves as we view homes and some things become more crucial than others.
If that's the situation, I'll look through all the listings one more time and narrow it down to the house you've been wishing for.
Step 4 – Get a grasp of the market
My knowledge of the Speonk home market is a fundamental resource in your house search. I'm mindful of all the neighborhoods and schools, and I'll alert you to what districts are "hot" and require prompt action and the others that are "cool" and allow for more consideration.
As we tour homes, I'll make sure to communicate if the seller's asking price has room for bargaining or if I believe the home is "priced to sell."
Trust your instincts and be sure to ask your agent lots of questions, as any real estate agent will claim to understand the market.
If it doesn't seem like they know everything, call me at 631-325-3449 or e-mail me at email@example.com, and I'd be 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 home you've been waiting for
I'm confident we'll find the home of your dreams in Speonk. When that happens, I'll precisely create your real estate purchase offer. The offer will be tailored exactly to your needs, including a lot of contingencies, such as obtaining financing, finishing the home inspection, and a clean title.
When we turn in your purchase offer, you'll need to present "earnest money." This is a cash deposit given to the seller to secure the offer to buy the property and is usually 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 ample time for your mortgage financing.
Step 6 – Negotiate the deal
A lot of contracts don't close on the beginning offer – it's extremely common to receive a counter offer. Don't let it alarm you. We'll talk about whether or not to take the counter offer, propose our own counter offer, or refuse the seller's offer and go on.
Market conditions will play a role in how aggressively we negotiate the deal.
In addition, we'll work within your budget. And at the end of the day, we'll assemble a contract that works well for you.
Step 7 – Obtain your loan
After the deal is signed, you'll start working with your lender to close the loan.
It won't take very long at all if you're already pre-qualified, but you should to stay in close contact with your lender.
And I'll care for all the property information your mortgage lender will need to close the loan.
Step 8 – Close the deal
Your lender will supply you with a Good Faith Estimate (GFE) detailing your closing costs within three days of accepting your loan application.
This estimate rests on the loan amount. RESPA requirements require that it has to involve all closing costs and be within a close range of accuracy, and 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 likely take place at a title company or escrow office and should be a smooth and stress-free event.
Step 9 – Move in
Success! Now you can move into your new home. Enjoy it. And if you need anything or have any questions, be sure to call me at 631-325-3449 or send me an e-mail.