Purchasing a home can be stressful for most people. However, with a little up-front planning, it's not that complex.
So you'll understand exactly what to expect, I like to provide my buyers with an overview of the entire deal.
Here are my nine steps to purchasing a home.
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When you're ready to get started, just contact me here or send e-mail to realestate@taylorashley.com. I'm happy to answer questions you have regarding this information.
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Step 1 – Prepare to purchase
There are several things you should contemplate prior to starting your home search.
You'll most likely want to form a checklist of items you want to have, get a feel for what school districts you'd like to live in, and begin working on your budget.
Keeping your mortgage payment around 30 percent of your monthly income is a good guideline to follow.
Step 2 – Contact a real estate agent in Stuart
That's where I can help.
I'd be more than happy to plan a time to get together with you and speak with you about your real estate needs and get an idea of your upcoming plans.
We'll talk about neighborhoods, schools in the Stuart area, the mortgage industry, and any additional economic factors that may affect your purchase today or in the future.
In addition, I'll help you get started on your loan.
Taylor Ashley Real Estate works with some of the best mortgage professionals in Stuart, so you'll be in great hands.
They can assist you in determining which kind of loan is best for you and help you get qualified.
Step 3 – Start house hunting
Following our initial meeting, I'll begin finding homes on the market that are a great fit for you.
I'll preview many of the homes and exclude the duds, and then we'll book appointments to tour the houses when it's most convenient for you.
As we tour the houses, I'll call attention to good features and bad ones. I'll also ask you about things you like and don't like.
It's pretty common for buyers to update their list of must-haves as we view houses and some features become more necessary than others.
If that happens, I'll go back through all the listings once more and narrow it down to the house you've been dreaming about.
Step 4 – Get a feel for the housing market
My understanding of the Stuart home market is a valuable advantage in your home search. I'm mindful of all the schools and neighborhoods, and I can let you know what neighborhoods are "hot" and call for immediate action and the ones that are "cold" and allow for thoughtful examination.
As we view houses, I'll make sure to communicate when the asking price has room for negotiation and when I think the home is "priced to sell."
When working with an agent, trust your instincts and be sure to ask lots of questions. Any REALTOR® will tell you they truly understand the home market.
If things don't add up, call me at 7722872440 or e-mail me at realestate@taylorashley.com, and I'd be glad to answer any questions you have. My understanding of the market will keep you a step above the rest throughout the entire process.
Step 5 – Find the home you've been waiting for
I'm positive we'll find your dream house in Stuart. When we do, I'll precisely create your real estate purchase offer. The offer will be tailored to suit your needs, including some contingencies. A few examples are acquiring financing, completing the inspection, and a clean title.
Upon turning in your purchase offer, you'll need to submit "earnest money." This is a cash deposit given to the home seller to secure the offer to purchase the property, and it's typically applied to the closing costs. If your offer is accepted, we should close on the home within 30 to 60 days after. This allows sufficient time for your mortgage financing.
Step 6 – Negotiate the deal
A lot of deals don't close on the first offer – it's very common to receive a counter offer. Don't let it discourage you. We'll talk over whether or not to consent to the counter offer, propose our own counter offer, or refuse 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 budget. And when it's all said and done, we'll create a deal that's best for you.
Step 7 – Get a loan
After we sign the final deal, you'll begin working with your lender to close the loan.
It shouldn't be a long process at all if you're already pre-qualified, but you need to stay in close contact with your mortgage lender.
And I'll manage all the property information your mortgage lender needs to close the loan.
Step 8 – Close the deal
Your lender will send you a Good Faith Estimate (GFE) detailing your closing costs within three days of taking your loan application. You'll get a Good Faith Estimate (GFE) outlining closing costs from your mortgage lender within three days of accepting your application.
The estimate is based on the loan amount. RESPA requirements order that it has to involve all closing costs and fall within a narrow range of accuracy, and I'll study the estimate and let you know if everything looks adequate.
Then we'll close on your home. This will likely take place at a title company or escrow office and is often a smooth and easygoing occasion.
Step 9 – Move in
You made it! Now you can move into your new home. Enjoy it. And if you have any questions, just contact me at 7722872440 or send me an e-mail.
