Buying a home is stressful for a lot of people, but it's not all that complicated with a bit of up-front planning.
I like to provide buyers with a road map of the whole deal so they know exactly what they can expect.
Here are my nine steps to buying a home.
 |
 |
 |
If you have questions about any of this information or if you're prepared to get started, just contact me here or e-mail me at westjennifer1@yahoo.com.
|
|
|
|
|
Step 1 – Prepare to buy a home
There are plenty of things you'll want to contemplate before commencing your home search.
When you start your search, you'll probably want to create an index of items you want, get an idea of what neighborhoods and school districts you want to live in, and begin planning around your budget.
Keeping your mortgage payment less than or close to 1/3 of your net monthly income is a good rule to go by.
Step 2 – Get in touch with a real estate agent
This is where Realty World Corral Hollow Real Estate comes in.
We can schedule a time to get together so we can talk about your real estate needs and get an idea of your upcoming plans.
We'll talk about everything from neighborhoods, school districts in the Tracy area, the mortgage and housing industries, to any other economic factors that could potentially affect your purchase today or in the future.
I'll also help you get started on your loan.
There are some excellent mortgage professionals in Tracy, and I work with a lot of them, so you'll be in great hands.
They'll help you figure out which kind of loan is best for you, as well as help you get qualified.
Step 3 – Start your search
Following our initial meeting, I'll begin finding houses on the market that are good for you.
I'll research most of the homes and throw out the duds, and then we'll schedule appointments to view the homes when it's most convenient for you.
As we view the houses, I'll show you the positive features, as well as negative ones. And I'll ask you to tell us about things you like and dislike.
Most often, buyers change their wish list as we tour homes and some features become far more crucial than others.
If that's the case, I'll look through the listings once again and trim it down to the home you've been dreaming about.
Step 4 – Understand the market
Your agent's knowledge of the Tracy market is a leading element in your house search. And I assure you I'm informed of all the neighborhoods and schools, and I will let you know which areas are "hot" and require prompt action and some that are "cool" and allow for more examination.
When we tour houses, I'll be sure to tell you if the seller's list price has room for negotiation or if I believe the home is "priced to sell."
Any real estate agent will tell you they comprehend the housing market, but beware, and be sure to ask your agent plenty of questions.
If things don't add up, just call me at 209-836-5575 or e-mail me at westjennifer1@yahoo.com, and I'd be happy to answer any questions you may have. My knowledge of the market will help you stay a step above the rest through the entire deal.
Step 5 – Find the home of your dreams
I know we'll find your dream home in Tracy. When that happens, I'll carefully develop your real estate purchase offer. The offer will be tailored with your needs in mind, including a lot of contingencies, such as getting financing, completing the inspection, and a clean title.
When presenting your offer, you'll need to present "earnest money." This is a cash deposit made to a seller to secure an offer to purchase the property, and it's typically applied to the closing costs. If the offer is accepted, we should close within 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 initial offer. It's really common to receive a counter offer. Don't let it intimidate you. We'll consider whether or not to take the counter offer, present our own counter offer, or reject the seller's offer and move on.
Market circumstances determine how aggressively we negotiate the contract.
We'll also work within your budget. And at the end of the day, we'll create a deal that works well for you.
Step 7 – Get financing
After we sign the final contract, you'll begin working with your lender to close the loan.
If you're pre-approved, it won't be a long process at all, but you should to stay in close contact with your lender.
And I'll deal with all the property information your lender needs to close the loan.
Step 8 – Close the deal
You'll get a Good Faith Estimate (GFE) outlining closing costs from your mortgage lender within three days of accepting your loan application.
The estimate depends on the loan amount, and RESPA requirements mandate that it has to involve all closing costs and be within a tight range of accuracy. I'll analyze the estimate and let you know if it all looks okay.
Then it's time to close on your house. This will most often take place at a title company or escrow office and should be a smooth and easygoing occasion.
Step 9 – Move in
You made it! It's time to move into your new house. Enjoy it. And if you have any questions, be sure to call me at 209-836-5575 or send me an e-mail.