Buying your new home in Saint Cloud
Buying a home intimidates most people. However, with some planning ahead of time, it isn't too hard.
I like to give buyers an outline of the whole deal so they'll understand exactly what to expect.
These are my nine steps to purchasing a home.
When you're ready to get started, you can contact me here or e-mail me at . I'm glad to answer any questions you have about this information.
Step 1 – Prepare to purchase a home
Before you begin looking for a home, there are a lot of things you'll want to contemplate.
You'll most likely want to put together an index of items you need, get a plan of what school districts and neighborhoods you'd like to live in, and start planning your budget.
Keeping your mortgage payment less than or close to 1/3 of your net monthly income is a good rule of thumb to follow.
Step 2 – Connect with a real estate agent
This is where Preferred Real Estate comes in.
I'd love to plan a time to get together with you and speak with you about your real estate needs and get an idea of your upcoming plans.
We'll discuss neighborhoods, schools in the Saint Cloud area, the mortgage and housing industries, and any additional economic factors that could affect your purchase today or in the future.
In addition, I'll assist you in getting started on your loan.
There are some great mortgage professionals in Saint Cloud, and I work with a lot of them, so you'll be in great hands.
They'll help you decide which kind of loan is best for you, as well as help you get qualified.
Step 3 – Start house-hunting
After our initial meeting, I'll begin searching for homes on the market that are a great fit for you.
I'll preview many of the houses and reject the duds, and then we'll schedule appointments to view the homes when it's most convenient for you.
As we view houses, I'll call attention to good features and negative ones. And I'll ask you what things you like and don't like.
It's widely common for buyers to amend their must-have list as we tour houses and some things become more important than others.
If that happens, I'll search all the listings one more time and narrow it down to the house of your dreams.
Step 4 – Comprehend the market
An agent's understanding of the Saint Cloud market is an imperative aspect in your house search. And I assure you I'm mindful of all the schools and neighborhoods, and I'll communicate what districts are "hot" and warrant immediate action and the ones that are "cold" and allow for cautiousness.
As we tour houses, I'll make sure to communicate if the asking price has room for negotiation or if I believe the home is "priced to sell."
Be on guard and make sure you ask plenty of questions, as any REALTOR in Saint Cloud will claim to truly know the home market.
If things don't add up, call me at (407) 791-3116 or e-mail me at , and I'll be glad to answer any questions you have. My market knowledge will keep you a step above the rest through the entire process.
Step 5 – Find the house you've been looking for
I'm certain we'll find the home of your dreams in the Saint Cloud area. When that happens, I'll meticulously create your home purchase offer. The offer will be made to suit your needs and the home. We'll include some contingencies, such as acquiring financing, finishing the inspection, and a clean title.
Upon sending in your purchase offer, you'll want to submit "earnest money." This is a cash deposit given to a seller to secure the offer to buy the property and is most often put towards the cost of closing. If the offer is accepted, we should close within 30 to 60 days afterward. This allows ample time for your mortgage financing.
Step 6 – Negotiate the deal
A lot of contracts don't close on the first offer, and it's widely common to receive a counter offer. But don't let it alarm you. We'll figure out whether or not to consent to the counter offer, present our own counter offer, or decline the seller's offer and go on.
Market conditions determine how aggressively we negotiate the deal.
We'll also work within your financing constraints. And at the end of the day, we'll compose a contract that works well for you.
Step 7 – Get your loan
Once we sign the final deal, you'll begin working with your lender to close the loan.
If you're already pre-approved, it won't take much time at all. But you need to keep in close contact with your lender.
And I'll sort out all the property information your mortgage lender needs to close the loan.
Step 8 – Close the deal
Your lender will send you a Loan Estimate (LE) of your closing costs within three days of getting your loan application. You'll get a Loan Estimate (LE) of closing costs from your lender within three days of getting your loan application.
The estimate is formed from the loan amount. RESPA requirements order that it has to involve all closing costs and fall within a close range of accuracy, and I'll go over the estimate and let you know if everything looks all right.
Then it's time to close on your house. This will probably occur at a title company or escrow office and will most often be a smooth and comfortable event.
Step 9 – Move in
Congratulations! Now you can move into your new house. Enjoy it. And if you have any questions, be sure to call me at (407) 791-3116 or e-mail me at .