Buying a home is stressful for a lot of people, but with a bit of up-front planning, it isn't very difficult.
So you'll understand exactly what to expect, I like to give my buyers an overview of the whole deal.
These 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 will@krelbj.com. I'm glad to answer questions you have regarding this information.
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Step 1 – Get ready to buy a home
Before you start looking for a home, there are plenty of things you need to consider.
When you start your search, you'll probably want to make a checklist of features you need, get a feel for what school districts and neighborhoods you want to live in, and begin planning around your budget.
Keeping your mortgage payment less than 1/3 of your monthly income is a good rule to follow.
Step 2 – Contact a real estate agent
This is where Kingsland Real Estate comes in.
I'd be happy to book a time to meet with you and talk about why you want to buy a home and get an idea of your upcoming plans.
We'll discuss the mortgage industry, other economic factors that may affect your purchase today or in the future, as well as neighborhoods and school districts in the Kingsland area.
In addition, I'll help you get started on your loan.
Kingsland Real Estate partners with some of Kingsland's best mortgage professionals, so you'll be in great hands.
They will help you choose which type of loan is best for you, as well as help you get approved.
Step 3 – Begin house-hunting
Following our first meeting, I'll begin looking for homes on the market that are good for you.
I'll get a sneak peek of many of the houses and ignore the bad ones, and then we'll book appointments to tour the homes whenever it's most convenient for you.
When we tour homes, I'll identify positive features, as well as negative ones. I'll also ask you about things you like and dislike.
Oftentimes, buyers change their list of must-haves as we view homes and some features become far more substantial than others.
If that's the situation, I'll go back through all the listings once more and trim it down to the house you've been waiting for.
Step 4 – Understand the housing market
My knowledge of the Kingsland housing market is a crucial advantage in your home search. I am mindful of all the neighborhoods and schools, and I will let you know certain neighborhoods are "hot" and demand immediate action and others that are "cold" and allow for more consideration.
As we tour homes, I'll let you know when the seller's list price has room for bargaining and when I think the home is "priced to sell."
Every REALTOR® in Kingsland will tell you they understand the home market, but be careful, and make sure you ask a lot of questions.
If it doesn't seem like they know everything, contact me at 325-388-4565 or e-mail me at will@krelbj.com, and I'd be glad to answer any questions you have. My understanding of the market will help you stay a step ahead throughout the entire deal.
Step 5 – Find the house of your dreams
I'm certain we'll find your dream home in Kingsland. When we do, I'll thoroughly develop your home purchase offer. The offer will be tailored keeping your needs in mind, including several contingencies, such as acquiring financing, finishing the inspection, and a clean title.
When submitting your purchase offer, you'll want to present "earnest money." This is a cash deposit given to a seller to secure the offer to buy the property, and it's usually put towards the closing costs. If the seller accepts the offer, we should close on the property within 30 to 60 days afterward. This allows enough time for your mortgage financing.
Step 6 – Negotiate the deal
Most contracts don't close on the first offer. It's widely common to receive a counter offer. But don't let it intimidate you. We'll talk about whether or not to accept the counter offer, propose our own counter offer, or refuse the seller's offer and go on.
Market conditions determine how aggressively we negotiate the deal.
We'll also work within your budget. And when it's all said and done, we'll assemble a contract that is best for you.
Step 7 – Get your loan
Once we sign the final contract, you'll begin working with your mortgage lender to close the loan.
It shouldn't take much time at all if you've been pre-qualified, but you'll need to keep in close contact with your lender.
And I'll care for all the property information your lender will need to close the loan.
Step 8 – Close the deal
Your lender will supply you with a Good Faith Estimate (GFE) of closing costs within three days of accepting your application. You'll get a Good Faith Estimate (GFE) outlining your closing costs from your mortgage lender within three days of accepting your application.
The estimate rests on the loan amount, and RESPA requirements order that it has to include all closing costs and be within a precise range of accuracy. I'll study the estimate and let you know if everything looks permissible.
Then we'll close on your home. This will likely occur at a title company or escrow office and will most often be a smooth and calm occasion.
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, just call me at 325-388-4565 or send me an e-mail.