Buying or selling a home? Preferred Real Estate can help.
Purchasing a home is intimidating for a lot of people, but with a little up-front planning, it's not all that complex.
So they'll know exactly what to expect, I will supply buyers with an overview of the entire deal.
Below are my nine steps to buying a home.
When you're ready to get started, you can contact me here or e-mail me at . I'm glad to answer questions you have regarding this information.
Step 1 – Prepare to purchase a home
Before you commence your home search, there are several things you'll want to take into account.
When you begin your search, you'll want to create a checklist of must-have features, get a feel for what neighborhoods you'd like to live in, and begin planning your budget.
Ensuring your mortgage payment is less than 1/3 of your monthly income is a good rule of thumb to adhere to.
Step 2 – Communicate with a real estate agent in Saint Cloud
That's where I can help.
I'd love to arrange a time to get together with you and talk about your real estate needs and get an idea of your future plans.
We'll discuss the mortgage industry, other economic factors that could affect your buying decision today or in the future, as well as neighborhoods and schools in the Saint Cloud area.
I can also assist you with getting started on your loan.
Preferred Real Estate partners with some of Saint Cloud's finest mortgage professionals, so you'll be in great hands.
They can assist you in determining which type of loan is best for you and help you get approved.
Step 3 – Start your home search
After we meet, I'll begin searching for houses on the market that are a great fit for you.
I'll research most of the houses and ignore the bad ones, and then we'll book appointments to tour the homes when it's convenient for you.
When we view the homes, I'll point out positive features, as well as negative ones. And I'll ask you what things you like and dislike.
It's common for buyers to update their must-have list as we view homes and some items become more essential than others.
If that's the situation, I'll look through all the listings another time and narrow it down to the home of your dreams.
Step 4 – Understand the market
My awareness of the Saint Cloud home market is a necessary agent in your house search. I am conscious of all the neighborhoods and school districts, and I will communicate certain districts are "hot" and warrant prompt action and others that are "cold" and allow for cautiousness.
As we view homes, 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."
Be on guard and be sure to ask your agent plenty of questions, as any REALTOR will convince you they understand the housing market.
If things don't add up, just call me at (407) 791-3116 or e-mail me at , and I'd be glad to answer any questions you might have. My knowledge of the market will keep you a step above the rest through the entire process.
Step 5 – Find your dream house
I'm positive we'll find your dream home in Saint Cloud. When we do, I'll carefully develop your purchase offer. The offer will be tailored with your needs in mind and the home, including some contingencies. A few examples are obtaining financing, finishing the home inspection, and a clear title.
Upon sending in your purchase offer, most likely you'll want to submit "earnest money." This is a cash deposit submitted to the seller to secure the offer to buy the property, and it's usually applied to the closing costs. If your offer is accepted, we should close on the property within 30 to 60 days after. This allows necessary time for your mortgage financing.
Step 6 – Negotiate the deal
Unfortunately most contracts aren't closed on the first offer – it's extremely common to receive a counter offer. Don't let it intimidate you. We'll consider whether or not to accept the counter offer, submit our own counter offer, or refuse the seller's offer and move on.
How aggressively we negotiate the deal depends on market circumstances.
We'll also work within your financing constraints. And when it's all said and done, we'll formulate a deal that's best for you.
Step 7 – Obtain a loan
Upon finishing the deal, you'll begin working with your lender to close the loan.
If you've been pre-approved, this won't take long at all, but you should to keep in close contact with your lender.
And I'll look after all the property information your lender will need to close the loan.
Step 8 – Close the deal
Your mortgage lender will provide you with a Loan Estimate (LE) of closing costs within three days of taking 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 depends on the loan amount, and RESPA requirements require that it has to contain all closing costs and fall within a narrow range of accuracy. I'll study the estimate and let you know if everything looks permissible.
Then it's time to close on your home. This will likely happen at a title company or escrow office and is often a smooth and hassle-free occasion.
Step 9 – Move in
Congratulations! It's time to move into your new home. Enjoy it. And if you have any questions, just call me at (407) 791-3116 or e-mail me at .