Buying or selling a home?
Purchasing a home is intimidating for many people, but with some planning ahead of time, it's not too hard.
I like to give buyers an outline of the entire deal so they'll know exactly what they can expect.
These are my nine steps to buying a home.
Should you have questions about this information or if you're ready to get started, simply contact me here or e-mail me at .
Step 1 – Prepare to buy
Before you start looking for a home, there are plenty of things you should contemplate.
It's likely that you'll want to create a checklist of features you want, get a plan of what school districts you'd like to live in, and start planning your budget.
Ensuring your mortgage payment is less than or close to 30 percent of your monthly income is a good guideline to go by.
Step 2 – Communicate with a real estate agent in Burleson
That's where I can help.
We'll plan a time to meet so we can talk about your real estate needs and get an idea of your upcoming plans.
We'll discuss the mortgage industry, other economic factors that may affect your buying decision today or in the future, as well as neighborhoods and schools in the Burleson area.
I'll also assist you in getting started on your loan.
I partner with some of Burleson's finest mortgage professionals, so you'll be in great hands.
They'll help you decide which type of loan is best for you, as well as help you get qualified.
Step 3 – Start house-hunting
After our first meeting, I'll start searching for homes on the market that meet your needs.
I'll research many of the homes and remove the duds, and then we'll set up appointments to tour the houses when it's convenient for you.
As we view homes, I'll call attention to positive features and negative ones. I'll even ask you to talk about things you like and dislike.
Usually, buyers amend their wish list as we view homes and some things become more essential than others.
If that's the situation, I'll search all the listings another time and narrow it down to the house you've been waiting for.
Step 4 – Comprehend the market
An agent's knowledge of the Burleson market is an imperative agent in your house search. And I can assure you I'm conscious of all the neighborhoods and school districts, and I will let you know which districts are "hot" and require immediate action and the ones that are "cold" and allow for cautiousness.
When we view homes, I'll make sure to communicate when the seller's list price has room for bargaining and when I trust the home is "priced to sell."
When working with an agent, be careful and be sure to ask plenty of questions. Any real estate agent will convince you they understand the market.
If things don't add up, just call me at (817) 744-8300 or e-mail me at , and I'll be more than happy to answer any questions you may have. My market expertise will keep you a step ahead throughout the entire deal.
Step 5 – Find the house of your dreams
We'll find the home of your dreams in Burleson, and when that happens, I'll precisely develop your home purchase offer. The offer will be made to fit your needs and the home. We'll include a lot of contingencies, such as obtaining financing, finishing the home inspection, and a clear title.
When we submit your purchase offer, you'll need to submit "earnest money." This is a cash deposit made to the home seller to secure the offer to purchase the property and is typically applied to the cost of closing. If the offer is accepted, we should close within 30 to 60 days after. This allows plenty of time for your mortgage financing.
Step 6 – Negotiate the deal
Unfortunately most deals don't close on the beginning offer. It's extremely common to receive a counter offer. Don't let it intimidate you. We'll consider whether or not to take the counter offer, present our own counter offer, or decline the seller's offer and move on.
The state of the market will play a vital role in how aggressively we negotiate the contract.
We'll also work within your financing constraints. And when it's all said and done, we'll formulate a deal that's best for you.
Step 7 – Secure your loan
After we sign the final contract, you'll begin working with your mortgage lender to close the loan.
It shouldn't be a long process at all if you're pre-qualified, but you'll need to stay 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 lender will supply you with a Loan Estimate (LE) of your closing costs within three days of taking your application. You'll get a Loan Estimate (LE) detailing closing costs from your mortgage lender within three days of accepting your loan application.
This estimate is formed from the loan amount, and RESPA requirements order that it has to involve all closing costs and be within a narrow range of accuracy. I'll review the estimate and let you know if it all looks permissible.
Then we'll close on your home. This will most likely occur at a title company or escrow office and will most often be a smooth and peaceful affair.
Step 9 – Move in
Congratulations! It's time to move into your new house. Enjoy it. And if you need anything, just call me at (817) 744-8300 or e-mail me at .