Buying a home can be stressful for a lot of people. However, with a little up-front planning, it's not that complex. I like to provide buyers with an overview of the entire deal so they'll understand exactly what to expect. These are my nine steps to purchasing a home.
Step 1 – Get ready to buy a home
Prior to beginning your home search, there are many things you need to consider. You'll probably want to create an outline of items you need, get a plan of what neighborhoods you want to live in, and begin working on your budget. A good guideline to adhere to is that your mortgage payment should be less than or around 1/3 of your monthly income.
Step 2 – Get with a real estate agent
This is where I come in. I'd like to schedule a time to get together with you and communicate with you regarding your real estate needs and get an idea of your future plans. We'll discuss neighborhoods, school districts in the MULLICA HILL area, the mortgage and housing industries, and any other economic factors that may potentially affect your buying decision today or in the future.
I'll also help you facilitate the loan process. There are some very good mortgage professionals in MULLICA HILL, and I work with a lot of them, so you can rest assured that you're in great hands. They can assist you with choosing which type of loan is best for you and help you get qualified.
Step 3 – Begin house hunting
Following our initial meeting, I'll begin searching for homes on the market that meet your needs. I'll get a sneak peek of most of the houses and remove the duds, and then we'll schedule appointments to view the houses whenever it's convenient for you.
When we tour the houses, I'll identify good features, as well as negative ones. And I'll ask you to tell us about things you like and don't like. As a rule, buyers change their list of must-haves as we view houses and some things become more crucial than others. If that's the case, I'll search all the listings one more time and narrow it down to the house you've been dreaming about.
Step 4 – Get a feel for the market
An agent's understanding of the MULLICA HILL market is an imperative factor in your home search. And I can assure you I'm familiar with all the neighborhoods and school districts, and I'll let you know some areas are "hot" and demand prompt action and the ones that are "cold" and allow for careful examination.
As we view homes, I'll be sure to tell you 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 lots of questions, as any real estate agent in MULLICA HILL will tell you they truly understand the home market. If things don't add up, call me at 8568166995 or e-mail me at gtresch@comcast.net, and I'd be more than happy to answer any questions you might have. My market expertise will help you stay a step ahead throughout the entire process.
Step 5 – Find the house you've been waiting for
I know we'll find your dream home in the MULLICA HILL area. When we do, I'll carefully create your real estate purchase offer. The offer will be tailored exactly to your needs, including some contingencies, such as getting financing, finishing the inspection, and a clear title.
When we send in your offer, you'll want to present "earnest money." This is a cash deposit given to the home seller to secure an offer to purchase the property, and it's typically applied to the cost of closing. If the seller accepts the offer, we should close about 30 to 60 days afterward. This allows sufficient time for your mortgage financing.
Step 6 – Negotiate the deal
A lot of contracts aren't closed on the first offer – it's really common to receive a counter offer. Don't let it discourage you. We'll discuss whether or not to accept the counter offer, submit our own counter offer, or decline the seller's offer and move on.
Market circumstances determine how aggressively we negotiate the deal. We'll also work within your financing budget. And when it's all said and done, we'll formulate a deal that works well for you.
Step 7 – Get financing
Once the deal is finalized, you'll start working with your lender to close the loan. It won't be a long process at all if you're already pre-approved, but you need to keep in close contact with your mortgage lender. And I'll sort out all the property information your lender will need to close the loan.
Step 8 – Close the deal
Your mortgage lender will provide you with a Good Faith Estimate (GFE) outlining your closing costs within three days of taking your application. You'll get a Good Faith Estimate (GFE) outlining closing costs from your mortgage lender within three days of taking your loan application. The estimate depends on the loan amount, and RESPA requirements mandate that it has to include all closing costs and be within a precise range of accuracy. I'll go over the estimate and let you know if it all looks okay.
Then we'll close on your house. This should occur at a title company or escrow office and will probably be a smooth and hassle-free occurrence.
Step 9 – Move in
Congratulations! It's time to move into your new home. Enjoy it. And if you have any questions, make sure you call me at 8568166995 or send me an e-mail.
