Purchasing a home is a stressful event for many people. However, with a bit of planning ahead of time, it isn't all that confusing.
So you know exactly what to expect, I like to supply my buyers with an overview of the entire deal.
These 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 donny@floridahomerealtypros.com.
|
|
|
|
|
Step 1 – Prepare to buy a home
Before you begin your home search, there are many things you should take into account.
When you begin your search, you'll probably want to assemble an outline of features you need, get a feel for what neighborhoods you want to live in, and begin planning your budget.
A good guideline to follow is that your mortgage payment should be a third of your net monthly income.
Step 2 – Get with a real estate agent in Riverview
That's where I come in.
I'd be happy to arrange a time to get together with you and communicate with you about why you want to buy a home and get an idea of your future plans.
We'll talk about neighborhoods, schools in the Riverview area, the mortgage and housing industries, and any other economic factors that could affect your buying decision today or in the future.
I'll also help you facilitate the loan process.
There are some great mortgage professionals in Riverview, 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 approved.
Step 3 – Begin your home search
After our initial meeting, I'll begin searching for available homes on the market that best suit you.
I'll research many of the houses and remove the bad ones, and then we'll set up appointments to tour the homes at a time that's convenient for you.
When we tour the houses, I'll show you the positive features and bad ones. I'll even ask you about things you like and don't like.
It's widely common for buyers to change their wish list as we tour homes and some things become far more essential than others.
If such is the case, I'll search the listings again and narrow it down to the house you've been dreaming about.
Step 4 – Get a grasp of the housing market
My knowledge of the Riverview housing market is a fundamental resource in your search. I'm familiar with all the neighborhoods and school districts, and I'll alert you to what areas are "hot" and demand immediate action and some that are "cool" and allow for thoughtful consideration.
As we tour homes, I'll be sure to tell you when the asking price has room for negotiation and when I think the home is "priced to sell."
Any REALTOR® will convince you they truly know the housing market, but take notice, and be sure to ask your agent a lot of questions.
If it doesn't seem like they know everything, contact me at (813) 741-2969 or e-mail me at donny@floridahomerealtypros.com, 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 through the entire process.
Step 5 – Find the house you've been looking for
I'm positive we'll find the home of your dreams in Riverview. When we do, I'll carefully create your purchase offer. The offer will be tailored keeping your needs in mind, including many contingencies, such as getting financing, carrying out the home inspection, and a clear title.
When we submit your offer, you'll likely want to present "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 closing costs. If the seller accepts the offer, we should close within 30 to 60 days afterward. This allows plenty of time for your mortgage financing.
Step 6 – Negotiate
A lot of contracts aren't closed on the beginning offer, and it's extremely common to receive a counter offer. But don't let this intimidate you. We'll discuss whether or not to agree to the counter offer, submit our own counter offer, or refuse the seller's offer and move on.
The state of the market determines how aggressively we negotiate the deal.
In addition, we'll work within your financing budget. And at the end of the day, we'll assemble a contract that works well for you.
Step 7 – Secure financing
Upon finishing the deal, you'll start working with your lender to close the loan.
If you're pre-approved, it shouldn't take much time at all. But you'll want to stay in close contact with your mortgage lender.
And I'll look after all the property information your lender will need to close the loan.
Step 8 – Close the deal
Your lender will send you a Good Faith Estimate (GFE) outlining closing costs within three days of receiving your application. You'll get a Good Faith Estimate (GFE) of closing costs from your mortgage lender within three days of taking your application.
The estimate is based on the loan amount. RESPA requirements require that it has to contain all closing costs and fall within a strict range of accuracy, and I'll examine the estimate and let you know if it all looks all right.
Then we'll close on your home. This will likely take place at a title company or escrow office and will most often be a smooth and relaxed occasion.
Step 9 – Move in
You made it! It's time to move into your new house. Enjoy it. And if you need anything, be sure to contact me at (813) 741-2969 or send me an e-mail.
