Buying or selling a home?
Purchasing a home is a stressful event for a lot of people, but it's not too hard with a bit of planning ahead of time.
So they know exactly what to expect, I will provide buyers with an outline of the whole deal.
Below are my nine steps to purchasing a home.
When you're ready to get started, just contact me here or e-mail me at . I'm glad to address questions you have about this information.
Step 1 – Prepare to purchase a home
There are a lot of things you should consider before starting your home search.
When you begin your search, you'll want to create a checklist of features you need to have, plan for what school districts and neighborhoods you want to live in, and start planning around your budget.
Keeping your mortgage payment less than or close to 1/3 of your monthly income is a good rule of thumb to go by.
Step 2 – Contact a real estate agent in Lewisburg
That's where I come in.
I'd like to set up a time to meet 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 Lewisburg area, the mortgage and housing industries, and any other economic factors that may affect your buying decision today or in the future.
I'll also help you begin the loan process.
There are some great mortgage professionals in Lewisburg, and I partner with a lot of them, so you're in great hands.
They'll assist you with choosing which kind of loan is best for you and help you get qualified.
Step 3 – Start house hunting
Following our initial meeting, I'll start looking for houses on the market that are good for you.
I'll get a sneak peek of most of the houses and ignore the bad ones, and then we'll schedule appointments to view the houses at a time that's convenient for you.
When we view homes, I'll show you the good features, as well as negative ones. I'll also ask you to talk about things you like and don't like.
Oftentimes, buyers revise their list of must-haves as we tour homes and some items become more important than others.
If that's the case, I'll search all the listings again and narrow it down to the house you've been waiting for.
Step 4 – Get a grasp of the housing market
My awareness of the Lewisburg market is a leading agent in your home search. I'm conscious of all the neighborhoods and schools, and I can let you know some neighborhoods are "hot" and demand prompt action and others that are "cool" and allow for careful consideration.
When we view homes, I'll make sure to communicate when the asking price has room for negotiation and also when I think the home is "priced to sell."
When working with an agent, be careful and be sure to ask plenty of questions, as any REALTOR will convince you they understand the market.
If it doesn't seem like they know everything, just call me at (931) 359-6231 or e-mail me at , and I'll be glad to answer any questions you may have. My understanding of the market will keep you a step above the rest throughout the entire deal.
Step 5 – Find the house you've been waiting for
We'll find the home of your dreams in the Lewisburg area, and when we do, I'll thoroughly create your purchase offer. The offer will be made to suit your needs and the home. We'll include a lot of contingencies, such as acquiring financing, completing the inspection, and a clean title.
Upon sending in your offer, you'll likely need to present "earnest money." This is a cash deposit given to a home seller to secure the offer to purchase the property and is typically put towards the cost of closing. If the offer is accepted by the seller, we should close within 30 to 60 days after. This allows necessary time for your mortgage financing.
Step 6 – Negotiate the deal
Unfortunately most contracts don't close on the beginning offer. It's widely common to receive a counter offer. But don't let it intimidate you. We'll figure out whether or not to agree to the counter offer, present our own counter offer, or reject the seller's offer and go on.
Market conditions determine how aggressively we negotiate the deal.
We'll also work within your financing budget. And at the end of the day, we'll assemble a deal that is best for you.
Step 7 – Secure a loan
Upon finalizing the contract, you'll begin working with your mortgage lender to close the loan.
If you're already pre-qualified, this won't take much time at all, but you need to keep in close contact with your lender.
And I'll deal with 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 Loan Estimate (LE) of your closing costs within three days of receiving your application. You'll get a Loan Estimate (LE) of your closing costs from your mortgage lender within three days of getting your application.
This estimate rests on the loan amount. RESPA requirements dictate that it has to contain all closing costs and fall within a strict range of accuracy, and I'll analyze the estimate and let you know if everything looks permissible.
Then we'll close on your home. This will likely happen at a title company or escrow office and will probably be a smooth and relaxing affair.
Step 9 – Move in
Congratulations! It's time to move into your new home. Enjoy it. And if you need anything or have any questions, make sure you contact me at (931) 359-6231 or e-mail me at .