Buying a home intimidates many people. However, with a bit of up-front planning, it isn't very confusing. I like to furnish buyers with an outline of the entire deal so they'll understand exactly what they can expect. Here are my nine steps to purchasing a home.
||When you're ready to get started, just contact me here or send e-mail to email@example.com. I'm happy to answer any questions you have about this information.
Step 1 – Get ready to purchase a home
Before you begin searching for a home, there are plenty of things you need to do. When you begin your search, you'll probably want to form a checklist of items you want to have, get a feel for what neighborhoods you want to live in, and start working on your budget. Keeping your mortgage payment less than a third of your monthly income is a good principle to adhere to.
Step 2 – Get in touch with a real estate agent in Brandon
This is where CHOICE REALTY Carolmac & Co. Carolmac & Co., Inc. can help. I'd love to schedule a time to meet with you and talk about why you want to buy a home and get an idea of your plans for the future. We'll discuss everything from neighborhoods, schools in the Brandon area, the mortgage industry, to any other economic factors that might affect your purchase today or in the future.
I'll also assist you in getting started on your loan. I work with some of Brandon's best mortgage professionals, so you'll be in great hands. They will assist you with deciding which kind of loan is best for you and help you get approved.
Step 3 – Begin looking
After our first meeting, I'll begin looking for available homes on the market that are a great fit for you. I'll research many of the homes and remove the duds, and then we'll set up appointments to tour the homes whenever it's convenient for you.
When we view the houses, I'll identify positive features and bad ones. And I'll ask you what things you like and don't like. It's pretty common for buyers to update their list of must-haves as we view homes and some items become more crucial than others. If that's the case, I'll search the listings another time and trim it down to the house of your dreams.
Step 4 – Get a feel for the market
An agent's knowledge of the Brandon market is a fundamental aspect in your home search. And I can assure you I'm acquainted with all the neighborhoods and schools, and I'll let you know certain neighborhoods are "hot" and warrant immediate action and some that are "cool" and allow for careful consideration.
As we view houses, I'll be sure to tell you if the seller's list price has room for bargaining or if I believe the house is "priced to sell." When working with an agent, trust your instincts and make sure you ask lots of questions, as any real estate agent will claim to truly know the housing market. If things don't add up, just call me at 813.651.2300 or e-mail me at firstname.lastname@example.org, and I'll be happy to answer any questions you have. My market expertise will keep you a step ahead through the entire deal.
Step 5 – Find the home of your dreams
I'm confident we'll find the house of your dreams in Brandon. When that happens, I'll thoroughly create your real estate purchase offer. The offer will be tailored exactly to your needs, including several contingencies, such as obtaining financing, carrying out the inspection, and a clear title.
Upon submitting your purchase offer, most likely you'll need to submit "earnest money." This is a cash deposit given to a seller to secure an offer to purchase the property. The amount is typically put towards the cost of closing. If the offer is accepted by the seller, we should close about 30 to 60 days after. This allows enough time for your mortgage financing.
Step 6 – Negotiate the deal
Most deals don't close on the first offer – it's widely common to receive a counter offer. But don't let this intimidate you. We'll talk over whether or not to take the counter offer, submit our own counter offer, or refuse the seller's offer and go on.
How aggressively we negotiate the deal depends on market circumstances. In addition, we'll work within your budget. And when it's all said and done, we'll put together a contract that's best for you.
Step 7 – Obtain financing
Upon completion of the contract, you'll begin working with your lender to close the loan. If you've been pre-qualified, it shouldn't take much time at all, but you should to stay in close contact with your mortgage lender. And I'll manage all the property information your lender needs to close the loan.
Step 8 – Close the deal
You'll get a Good Faith Estimate (GFE) outlining closing costs from your mortgage lender within three days of accepting your loan application. The estimate depends on the loan amount, and RESPA requirements require that it has to involve all closing costs and be within a strict range of accuracy. I'll go over the estimate and let you know if everything looks all right.
Then it's time to close on your home. 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 have any questions, just contact me at 813.651.2300 or send me an e-mail.