Looking to buy a home in Saint Cloud? Preferred Real Estate can help.
For a lot of people, purchasing a home is a stressful event. However, with some planning ahead of time, it's not too difficult.
I like to give buyers a road map of the whole deal so they'll understand exactly what to expect.
Below 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 address questions you have about this information.
Step 1 – Prepare to buy a home
There are several things you should take into account before you start searching for a home.
You'll most likely want to put together an outline of items you want, get a feel for what school districts you want to live in, and start working on your budget.
Ensuring your mortgage payment is around 1/3 of your net monthly income is a good rule of thumb to adhere to.
Step 2 – Speak with a real estate agent in Saint Cloud
That's where I can help.
I'd be more than happy to set up a time to meet with you and communicate with you about your real estate needs and get an idea of your future plans.
We'll discuss the mortgage industry, other economic factors that may potentially affect your purchase today or in the future, as well as neighborhoods and schools in the Saint Cloud area.
I'll also help you start the loan process.
I work with some of the finest mortgage professionals in Saint Cloud, so you're 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 – Begin your search
After our initial meeting, I'll begin searching for homes on the market that are a good fit for you.
I'll preview most of the homes and remove the duds, and then we'll schedule appointments to view the homes when it's most convenient for you.
When we view the homes, I'll point out good features and negative ones. I'll even ask you what things you like and don't like.
Most often, buyers update their must-have list as we tour homes and some things become more necessary than others.
If that's the case, I'll search the listings again and narrow it down to the house of your dreams.
Step 4 – Know the market
An agent's knowledge of the Saint Cloud housing market is a crucial component in your house search. And I can assure you I'm familiar with all the neighborhoods and schools, and I'll let you know which districts are "hot" and warrant prompt action and the ones that are "cold" and allow for careful consideration.
When we view houses, I'll be sure to tell you when the list price has room for negotiation and when I know the house is "priced to sell."
Be on guard and be sure to ask a lot of questions, as any REALTOR will convince you they know the housing market.
If it appears they don't know everything, just call me at (407) 791-3116 or e-mail me at , and I'd be glad to answer any questions you may have. My understanding of the market will keep you a step ahead through the entire deal.
Step 5 – Find the home you've been waiting for
I'm positive we'll find the house of your dreams in the Saint Cloud area. When that happens, I'll meticulously create your purchase offer. The offer will be tailored with your needs in mind and the home, including some contingencies, such as acquiring financing, finishing the inspection, and a clean title.
When we turn in your purchase offer, you'll likely need to present "earnest money." This is a cash deposit submitted 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 on the property about 30 to 60 days afterward. This allows plenty of time for your mortgage financing.
Step 6 – Negotiate the deal
A lot of contracts aren't closed on the first offer – it's very common to receive a counter offer. Don't let this intimidate you. We'll discuss 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 will play a large role in how aggressively we negotiate the deal.
In addition, we'll work within your financing budget. And when it's all said and done, we'll assemble a deal that's best for you.
Step 7 – Get a loan
After we sign the final sales contract, you'll begin working with your lender to close the loan.
If you're already pre-qualified, this won't take much time at all. However, you should to keep in close contact with your lender.
And I'll manage all the property information your lender needs to close the loan.
Step 8 – Close the deal
You'll get a Loan Estimate (LE) of closing costs from your mortgage lender within three days of taking your application.
The estimate is based on the loan amount, and RESPA requirements mandate that it has to contain all closing costs and be within a tight range of accuracy. I'll study the estimate and let you know if it all looks okay.
Then we'll close on your house. This will most likely take place at a title company or escrow office and will most likely be a smooth and relaxing occurrence.
Step 9 – Move in
Congratulations! Now you can move into your new house. Enjoy it. And if you need anything, make sure you contact me at (407) 791-3116 or e-mail me at .