For a lot of people, purchasing a home can be an intimidating event. But with some planning ahead of time, it's not very difficult. I like to give buyers an outline of the entire deal so they'll understand exactly what to expect. Below are my nine steps to purchasing a home.
||If you have any questions about this information or if you're prepared to get started, you can contact me here or e-mail me at firstname.lastname@example.org.
Step 1 – Get ready to purchase
There are several things you'll want to contemplate before you start searching for a home. You'll want to make an index of features you need, get a feeling for what school districts you'd like to live in, and begin planning around your budget. Keeping your mortgage payment less than 30 percent of your monthly income is a good guideline to go by.
Step 2 – Speak with a real estate agent at the Shore.
This is where I can help. We can book 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 neighborhoods, school districts in the Margate City area, the mortgage and housing industries, and any other economic factors that could affect your purchase today or in the future.
I can also help you begin the loan process. I work with some of the finest mortgage professionals in the downbeach area, so you're in great hands. They can assist you in figuring out which type of loan is best for you and help you get qualified.
Step 3 – Begin looking
After we meet for the first time, I'll start looking for available houses on the market that are a great fit for you. I'll research most of the homes and eliminate the duds, and then we'll book appointments to tour the homes when it's most convenient for you.
As we view homes, I'll point out positive features and bad ones. And I'll ask you to tell us about things you like and dislike. Frequently, buyers change their list of must-haves as we tour houses and some items become far more necessary than others. If that's the case, I'll go back through the listings once more and trim it down to the house you've been wishing for.
Step 4 – Know the housing market
An agent's understanding of the Margate City housing market is a fundamental element in your house search. And I assure you I'm acquainted with all the neighborhoods and schools, and I will alert you to which districts are "hot" and require immediate action and the ones that are "cool" and allow for more examination.
As we view homes, I'll let you know when the seller's list price has room for negotiation and also when I believe the home is "priced to sell." When working with an agent, be mindful and make sure you ask a lot of questions, as any REALTOR® will tell you they understand the housing market. If things don't add up, call me at 609.822.8700 or e-mail me at email@example.com, and I'd be glad to answer any questions you may have. My market expertise will keep you a step ahead through the entire deal.
Step 5 – Find your dream house
I'm certain we'll find the home of your dreams in Margate City, and when we do, I'll thoroughly create your home purchase offer. The offer will be made with your needs in mind. Whenever necessary, I never forget to make contracts contingent upon items like your ability to secure financing and the results of the home inspection.
Upon presenting your purchase offer, you'll likely need to present "earnest money." This is a cash deposit given to a seller to secure an offer to buy the property, and it's typically put towards the cost of closing. If your offer is accepted, we should close within 30 to 60 days after. This allows necessary time for your mortgage financing.
Step 6 – Negotiate the deal
A lot of contracts don't close on the first offer – it's pretty common to receive a counter offer. But don't let this discourage you. We'll consider whether or not to consent to the counter offer, present our own counter offer, or decline the seller's offer and go on.
Market conditions will play a part in how aggressively we negotiate the contract. We'll also work within your budget. And at the end of the day, we'll formulate a deal that's best for you.
Step 7 – Secure your loan
Upon finalizing the deal, you'll begin working with your mortgage lender to close the loan. If you've been pre-approved, it shouldn't take long at all. But you'll want to stay in close contact with your mortgage lender. And I'll take care of all the property information your mortgage lender needs to close the loan.
Step 8 – Close the deal
Your mortgage lender will furnish you with a Good Faith Estimate (GFE) of closing costs within three days of taking your loan application. You'll get a Good Faith Estimate (GFE) of closing costs from your lender within three days of accepting your application. The estimate is based on the loan amount, and RESPA requirements dictate that it has to include all closing costs and be within a close range of accuracy. I'll review the estimate and let you know if everything looks permissible.
Then it's time to close on your home. This should happen at a title company or escrow office and is often a smooth and hassle-free occasion.
Step 9 – Move in
You made it! It's time to move into your new house. Enjoy it. And if you need anything, be sure to call me at 609.822.8700 or send me an e-mail.