Buying or selling a home?
With a little planning ahead of time, buying a home isn't all that complicated, but the event can be stressful for many people.
So they'll understand exactly what to expect, I like to supply buyers with an outline of the whole deal.
Here are my nine steps to purchasing a home.
When you're ready to get started, you can contact me here or e-mail me at . I'm happy to answer questions you have regarding this information.
Step 1 – Prepare to purchase
Before you begin searching for a home, there are a lot of things you should contemplate.
When you start your search, you'll want to create an outline of items you want, get an idea of what school districts you want to live in, and begin working on your budget.
A good rule of thumb to go by is that your mortgage payment should be less than a third of your monthly income.
Step 2 – Connect with a real estate agent
This is where I come in.
I'd like to book a time to get together with you and speak with you about why you want to buy a home and get an idea of your future plans.
We'll talk about everything from neighborhoods, school districts in the Edmond area, the mortgage and housing industries, to any other economic factors that might affect your buying decision today or in the future.
I can also assist you in getting started on your loan.
Castles & Homes partners with some of Edmond's best mortgage professionals, so you can rest assured that you're in great hands.
They will help you decide which type of loan is best for you, as well as help you get approved.
Step 3 – Start house hunting
After we meet for the first time, I'll start searching for houses on the market that are good for you.
I'll get a sneak peek of many of the homes and throw out the duds, and then we'll set up appointments to tour the houses whenever it's convenient for you.
As we tour homes, I'll show you the good features, as well as bad ones. I'll even ask you what things you like and dislike.
Oftentimes, buyers change their wish list as we tour houses and some items become far more important than others.
If that's the case, I'll go back through all the listings again and trim it down to the home you've been dreaming about.
Step 4 – Get a grasp of the market
My understanding of the Edmond market is a leading aspect in your home search. I'm conscious of all the neighborhoods and school districts, and I will let you know some districts are "hot" and warrant prompt action and others that are "cool" and allow for careful examination.
When we tour houses, I'll let you know when the seller's asking price has room for bargaining and when I believe the house is "priced to sell."
Every real estate agent in Edmond will claim to truly understand the home market, but be on guard, and be sure to ask plenty of questions.
If it seems like they don't know everything, call me at 4058060003 or e-mail me at , and I'd be more than happy to answer any questions you might have. My understanding of the market will help you stay a step ahead throughout the entire deal.
Step 5 – Find the house you've been looking for
We'll find your dream house in the Edmond area, and when that happens, I'll precisely develop your purchase offer. The offer will be tailored with your needs in mind and the home, including a lot of contingencies. A few examples are obtaining financing, finishing the inspection, and a clean title.
Upon submitting your purchase offer, most likely you'll want to submit "earnest money." This is a cash deposit given to a seller to secure an offer to purchase the property and is usually put towards the closing costs. If the seller accepts the offer, we should close on the home about 30 to 60 days afterward. This allows enough time for your mortgage financing.
Step 6 – Negotiate the deal
A lot of deals aren't closed on the first offer, and it's pretty 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 decline the seller's offer and move on.
Market circumstances will play a large role in how aggressively we negotiate the deal.
We'll also work within your financing limits. And when it's all said and done, we'll create a deal that's best for you.
Step 7 – Obtain a loan
Once we sign the final sales contract, you'll begin working with your mortgage lender to close the loan.
If you're already pre-qualified, it won't take much time at all. However, you'll want to stay in close contact with your mortgage lender.
And I'll look after all the property information your mortgage lender needs to close the loan.
Step 8 – Close the deal
Your lender will supply you with a Loan Estimate (LE) of your closing costs within three days of getting your loan application. You'll get a Loan Estimate (LE) of closing costs from your mortgage lender within three days of getting your application.
The estimate depends on the loan amount, and RESPA requirements mandate that it has to include all closing costs and be within a close range of accuracy. I'll examine the estimate and let you know if everything looks adequate.
Then we'll close on your home. This will likely occur at a title company or escrow office and is often a smooth and easygoing affair.
Step 9 – Move in
Congratulations! It's time to move into your new home. Enjoy it. And if you have any questions, be sure to call me at 4058060003 or e-mail me at .