For most people, purchasing a home is a stressful event. But with a little up-front planning, it's not very hard.
So you understand exactly what to expect, I like to supply my buyers with a road map of the whole deal.
Below are my nine steps to purchasing a home.
 |
 |
 |
Should you have any questions about any of this information or if you're ready to get started, you can contact me here or e-mail me at Steve@stevelindburg.com.
|
|
|
|
|
Step 1 – Get ready to buy
Before you begin your home search, there are a lot of things you need to take into account.
When you begin your search, you'll probably want to create an outline of items you need, get a feel for what neighborhoods you want to live in, and start planning your budget.
Keeping your mortgage payment less than 30 percent of your net monthly income is a good principle to go by.
Step 2 – Contact a real estate agent in Marco Island
That's where I come in.
I'd be more than happy to book a time to meet with you and speak with you about your real estate needs and get an idea of your future plans.
We'll talk about the mortgage industry, other economic factors that could potentially affect your buying decision today or in the future, as well as neighborhoods and school districts in the Marco Island area.
In addition, I'll help you facilitate the loan process.
There are some very good mortgage professionals in Marco Island, and I work with a lot of them, so you can rest assured that you're in great hands.
They'll assist you in figuring out which type of loan is best for you and help you get approved.
Step 3 – Begin house hunting
After we meet for the first time, I'll start finding available houses on the market that are great for you.
I'll preview most of the houses and throw out the bad ones, and then we'll schedule appointments to view the houses at a time that's convenient for you.
As we view homes, I'll show you the positive features and bad ones. And I'll ask you what things you like and dislike.
It's widely common for buyers to revise their list of must-haves as we view houses and some items become far more crucial than others.
If such is the case, I'll look through the listings another time and trim it down to the house of your dreams.
Step 4 – Know the housing market
Your agent's knowledge of the Marco Island market is an essential component in your home search. And I assure you I'm conscious of all the school districts and neighborhoods, and I will alert you to what districts are "hot" and warrant immediate action and others that are "cool" and allow for careful consideration.
As we view homes, I'll be sure to tell you when the list price has room for negotiation and when I think the home is "priced to sell."
When working with an agent, be on guard and make sure you ask lots of questions, as any real estate agent in Marco Island will convince you they know the market.
If things don't add up, just call me at 239-571-8837 or e-mail me at Steve@stevelindburg.com, and I'd be more than happy to answer any questions you might have. My knowledge of the market will help you stay a step ahead through the entire deal.
Step 5 – Find your dream home
I'm positive we'll find the house of your dreams in the Marco Island area. When that happens, I'll carefully create your real estate purchase offer. The offer will be tailored exactly to your needs, including a lot of contingencies. A few examples are getting financing, completing the inspection, and a clean title.
When turning in your offer, you'll need to present "earnest money." This is a cash deposit submitted to a seller to secure the offer to buy the property and is often put towards the closing costs. If your offer is accepted, we should close on the home within 30 to 60 days afterward. This allows plenty of time for your mortgage financing.
Step 6 – Negotiate the deal
Most deals don't close on the initial offer – it's very common to receive a counter offer. Don't let this alarm you. We'll consider whether or not to agree to the counter offer, present our own counter offer, or refuse the seller's offer and move on.
Market conditions determine how aggressively we negotiate the deal.
We'll also work within your financing limits. And at the end of the day, we'll create a contract that's best for you.
Step 7 – Obtain financing
Upon completion of the contract, you'll begin working with your lender to close the loan.
If you're already pre-qualified, this won't take much time at all, but you'll want to keep in close contact with your lender.
And I'll look after 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) of your closing costs within three days of accepting your loan application. You'll get a Good Faith Estimate (GFE) detailing your closing costs from your lender within three days of receiving your application.
This estimate depends on the loan amount. RESPA requirements mandate that it has to contain all closing costs and fall within a close range of accuracy, and I'll analyze the estimate and let you know if it all looks good.
Then we'll close on your house. This will likely occur at a title company or escrow office and will likely be a smooth and relaxing event.
Step 9 – Move in
Success! It's time to move into your new house. Enjoy it. And if you need anything or have any questions, make sure you call me at 239-571-8837 or send me an e-mail.
