Are you contemplating buying your home in Burleson?
Purchasing a home intimidates many people, but it isn't very complex with a little up-front planning.
I like to furnish buyers with a road map of the whole deal so they'll know exactly what they can expect.
Here are my nine steps to buying a home.
If you have questions about this information or if you're ready to get started, just contact me here or e-mail me at .
Step 1 – Get ready to buy
There are several things you should consider prior to beginning your home search.
When you begin your search, you'll probably want to form an outline of features you need to have, get an idea of what school districts and neighborhoods you'd like to live in, and start planning your budget.
Ensuring your mortgage payment is less than or close to a third of your net monthly income is a good guideline to go by.
Step 2 – Contact a real estate agent
This is where I can help.
We'll schedule a time to get together so we can talk about your real estate needs and get an idea of your plans for the future.
We'll discuss everything from neighborhoods, school districts in the Burleson area, the mortgage and housing industries, to any other economic factors that could affect your buying decision today or in the future.
I'll also help you facilitate the loan process.
There are some great mortgage professionals in Burleson, and I partner with a lot of them, so you can rest assured that you're in great hands.
They'll help you decide which kind 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 finding available homes on the market that meet your needs.
I'll get a sneak peek of most of the homes and reject the duds, and then we'll set up appointments to view the homes when it's convenient for you.
When we view the homes, I'll call attention to positive features, as well as negative ones. I'll also ask you about things you like and don't like.
Oftentimes, buyers revise their wish list as we tour homes and some items become more essential than others.
If that's the case, I'll look through all the listings again and narrow it down to the house of your dreams.
Step 4 – Know the market
An agent's knowledge of the Burleson housing market is a crucial agent in your house search. And I can assure you I'm mindful of all the neighborhoods and school districts, and I can communicate what neighborhoods are "hot" and call for prompt action and others that are "cool" and allow for careful consideration.
As we tour homes, I'll make sure to communicate if the asking price has room for bargaining or if I believe the home is "priced to sell."
Any real estate agent in Burleson will claim to know the housing market, but be mindful, and be sure to ask lots of questions.
If things don't add up, call me at (817) 744-8300 or e-mail me at , and I'll be happy to answer your questions. My knowledge of the market will help you stay a step above the rest throughout the entire process.
Step 5 – Find your dream home
We'll find the house of your dreams in Burleson, and when that happens, I'll thoroughly create your purchase offer. The offer will be tailored to suit your needs and the home, including some contingencies, such as acquiring financing, completing the inspection, and a clear title.
Upon sending in your purchase offer, you'll probably want to present "earnest money." This is a cash deposit submitted to a home seller to secure the offer to buy the property, and it's most often applied to the cost of closing. If the seller accepts your offer, we should close on the property within 30 to 60 days after. This allows enough time for your mortgage financing.
Step 6 – Negotiate
Unfortunately most contracts 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 consider whether or not to agree to the counter offer, present our own counter offer, or decline the seller's offer and move on.
Market conditions will play a large role in how aggressively we negotiate the contract.
In addition, we'll work within your financing budget. And at the end of the day, we'll create a contract that's best for you.
Step 7 – Get your loan
After we sign the final sales contract, you'll begin working with your lender to close the loan.
This won't take very long at all if you're already pre-approved, but you'll need to keep in close contact with your mortgage lender.
And I'll care for all the property information your lender needs to close the loan.
Step 8 – Close the deal
Your mortgage lender will provide you with a Loan Estimate (LE) of closing costs within three days of accepting your application. You'll get a Loan Estimate (LE) detailing closing costs from your mortgage lender within three days of taking your loan application.
This estimate rests on the loan amount, and RESPA requirements dictate that it has to involve all closing costs and be within a close range of accuracy. I'll go over the estimate and let you know if it all looks all right.
Then it's time to close on your home. This will likely happen at a title company or escrow office and will most likely be a smooth and pleasant affair.
Step 9 – Move in
Congratulations! Now you can move into your new home. Enjoy it. And if you need anything or have any questions, be sure to contact me at (817) 744-8300 or e-mail me at .