Buying a home is stressful for a lot of people, but with some up-front planning, it's not that difficult.
So you know exactly what to expect, I like to furnish my buyers with a road map of the entire deal.
Below are my nine steps to buying a home.
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Should you have any questions regarding any of this information or if you're prepared to get started, simply contact me here or e-mail me at carl@carlsproperty.com.
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Step 1 – Get ready to purchase a home
There are a lot of things you'll want to contemplate before you search for a home.
When you start your search, you'll probably want to make a checklist of features you need, plan for what neighborhoods you want to live in, and begin working on your budget.
Ensuring your mortgage payment is around 30 percent of your net monthly income is a good guideline to adhere to.
Step 2 – Speak with a real estate agent in Chapin
This is where Exit Real Estate Consultants Realty comes in.
I'd be more than happy to book a time to meet with you and speak with you regarding why you want to buy a home and get an idea of your plans for the future.
We'll talk about everything from neighborhoods, schools in the Chapin area, the mortgage industry, to any other economic factors that may affect your buying decision today or in the future.
I'll also help you get started on your loan.
I partner with some of the best mortgage professionals in Chapin, so you can rest assured that you're in great hands.
They can assist you in determining which kind of loan is best for you and help you get approved.
Step 3 – Start house-hunting
After we meet for the first time, I'll begin finding available houses on the market that meet your needs.
I'll research most of the houses and remove the bad ones, and then we'll schedule appointments to tour the houses at a time that's convenient for you.
When we tour the homes, I'll call attention to good features, as well as bad ones. I'll even ask you to talk about things you like and dislike.
Usually, buyers revise their wish list as we tour homes and some things become far more crucial than others.
If that's the case, I'll look through all the listings once more and narrow it down to the house you've been waiting for.
Step 4 – Know the market
My awareness of the Chapin housing market is a valuable benefit in your search. I am informed of all the schools and neighborhoods, and I'll alert you to which neighborhoods are "hot" and demand prompt action and the ones that are "cold" and allow for more analysis.
As we view houses, I'll make sure to communicate if the seller's asking price has room for bargaining or if I believe the home is "priced to sell."
Be on guard and make sure you ask your agent plenty of questions, as any real estate agent in Chapin will convince you they understand the market.
If things don't add up, call me at 803-345-6124 or e-mail me at carl@carlsproperty.com, and I'd be more than happy to answer your questions. My understanding of the market will help you stay a step above the rest through the entire deal.
Step 5 – Find your dream house
We'll find your dream house in Chapin, and when that happens, I'll meticulously develop your purchase offer. The offer will be written to suit your needs. Whenever necessary, I never forget to make contracts contingent upon items like obtaining financing and the results of the home inspection.
When sending in your offer, you'll need to present "earnest money." This is a cash deposit submitted to a home seller to secure an offer to buy the property and is most often put towards the closing costs. If the seller accepts the offer, we should close on the property about 30 to 60 days afterward. This allows sufficient time for your mortgage financing.
Step 6 – Negotiate the deal
A lot of contracts don't close on the beginning offer – it's very common to receive a counter offer. Don't let this intimidate you. We'll figure out whether or not to accept the counter offer, submit our own counter offer, or decline the seller's offer and go on.
Market circumstances determine how aggressively we negotiate the deal.
In addition, we'll work within your financing constraints. And when it's all said and done, we'll put together a deal that's best for you.
Step 7 – Get your loan
Once we sign the final contract, you'll begin working with your lender to close the loan.
If you're already pre-approved, this shouldn't take much time at all. However, 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 will need to close the loan.
Step 8 – Close the deal
Your lender will give you a Good Faith Estimate (GFE) of your closing costs within three days of getting your application. You'll get a Good Faith Estimate (GFE) detailing closing costs from your mortgage lender within three days of receiving your application.
The estimate depends on the loan amount, and RESPA requirements require that it has to involve all closing costs and fall within a tight range of accuracy. I'll study the estimate and let you know if it all looks all right.
Then it's time to close on your house. This will most often occur at a title company or escrow office and will most likely be a smooth and easygoing occurrence.
Step 9 – Move in
Congratulations! Now you can move into your new home. Enjoy it. And if you need anything, make sure you call me at 803-345-6124 or send me an e-mail.