Purchasing your home
Purchasing a home intimidates a lot of people, but it's not very complicated with a bit of planning ahead of time.
So you'll understand exactly what to expect, we like to provide our buyers with an outline of the whole deal.
Here are my nine steps to purchasing a home.
Step 1 – Prepare to buy
There are plenty of things you'll want to contemplate prior to starting your home search.
When you start your search, you'll want to assemble a list of features you need to have, get an idea of what school districts you'd like to live in, and begin planning around your budget.
Ensuring your mortgage payment is less than or around a third of your monthly income is a good principle to adhere to.
Step 2 – Contact a real estate agent
This is where we come in. We'd be more than happy to arrange a time to meet with you and speak with you regarding your real estate needs and get an idea of your future plans.
We'll talk about everything from neighborhoods, school districts in the area, the mortgage industry, to any other economic factors that may potentially affect your purchase today or in the future.
We'll also assist you with getting started on your loan.
Mersaes Real Estate has partnered up with some of the best mortgage professionals in Texas, so you can rest assured that you're in great hands.
They will help you determine which kind of loan is best for you, as well as help you get approved.
Step 3 – Begin house-hunting
Following our first meeting, we'll begin looking for available houses on the market that are a great fit for you.
I'll research most of the homes and eliminate the duds, and then we'll book appointments to view the homes whenever it's most convenient for you.
As we view homes, we'll call attention to good features and negative ones. We'll even ask you what things you like and don't like.
For the most part, buyers revise their wish list as we tour houses and some things become more necessary than others.
If that's the situation, we'll look through all the listings once more and narrow it down to the home of your dreams.
Step 4 – Know the market
Our understanding of the housing market is a crucial benefit in your search. We are conscious of all the neighborhoods and school districts, and we will let you know some neighborhoods are "hot" and demand prompt action and the ones that are "cool" and allow for more examination.
As we tour houses, we'll be sure to tell you if the seller's list price has room for bargaining or if we believe the house is "priced to sell."
When working with an agent, trust your instincts and make sure you ask lots of questions. Any REALTOR® will claim to truly understand the housing market.
If it appears they don't know everything, call us at 9722039033 or e-mail us at firstname.lastname@example.org, and we'd be glad to answer any questions you may have. Our understanding of the market will help you stay a step above the rest through the entire deal.
Step 5 – Find the house of your dreams
We are certain we'll find the house of your dreams, and when that happens, we'll precisely develop your real estate purchase offer. The offer will be made to suit your needs. Whenever necessary, we never forget to make contracts contingent upon items like obtaining financing and the results of the home inspection.
When submitting your offer, you'll likely want to submit "earnest money." This is a cash deposit given to the home seller to secure an offer to purchase the property, and it's usually put towards the cost of closing. If your 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
Unfortunately most contracts don't close on the initial offer. It's extremely common to receive a counter offer. Don't let it intimidate you. We'll figure out whether or not to consent to the counter offer, propose our own counter offer, or decline the seller's offer and go on.
How aggressively we negotiate the deal depends on market circumstances.
We'll also work within your financing constraints. And at the end of the day, we'll create a contract that is best for you.
Step 7 – Secure a loan
Upon completion of the deal, you'll start working with your lender to close the loan.
If you're pre-qualified, it shouldn't take long at all, but you'll want to keep in close contact with your lender.
And we'll deal with all the property information your lender will need to close the loan.>
Your mortgage lender will provide you with a Good Faith Estimate (GFE) of closing costs within three days of getting your loan application.
This estimate is formed from the loan amount. RESPA requirements mandate that it has to involve all closing costs and fall within a strict range of accuracy, and we'll examine the estimate and let you know if it all looks okay.
Then it's time to close on your house. This will most likely happen at a title company or escrow office and will likely be a smooth and calm affair.
Step 9 – Move in
You made it! Now you can move into your new home. Enjoy it. And if you have any questions, be sure to contact us at 9722039033 or send us an e-mail.