Contemplating buying a new home in Saint Cloud?
Buying a home can be stressful for many people, but with some up-front planning, it's not all that hard.
So they'll know exactly what to expect, I'll give buyers an outline of the whole deal.
Here are my nine steps to purchasing a home.
When you're ready to get started, just contact me here or e-mail me at . I'm happy to answer questions you have about this information.
Step 1 – Get ready to buy
Before you begin searching for a home, there are several things you should contemplate.
When you begin your search, you'll probably want to create a checklist of items you need to have, get a feeling for what school districts you want to live in, and start working on your budget.
Keeping your mortgage payment less than or around a third of your monthly income is a good guideline to adhere to.
Step 2 – Connect with a real estate agent in Saint Cloud
This is where Preferred Real Estate can help.
We'll plan a time to meet so we can talk about why you want to buy a home and get an idea of your upcoming plans.
We'll talk about everything from neighborhoods, school districts in the Saint Cloud area, the mortgage and housing industries, to any other economic factors that could affect your purchase today or in the future.
In addition, I'll assist you with getting started on your loan.
I partner with some of Saint Cloud's finest mortgage professionals, so you can rest assured that you're in great hands.
They will help you determine which kind of loan is best for you, as well as help you get approved.
Step 3 – Begin looking for a house
Following our initial meeting, I'll begin looking for available homes on the market that suit your needs.
I'll get a sneak peek of most of the homes and eliminate the bad ones, and then we'll schedule appointments to view the homes whenever it's convenient for you.
As we tour houses, I'll call attention to positive features and negative ones. I'll even ask you what things you like and don't like.
Oftentimes, buyers amend their list of must-haves as we view houses and some items become far more important than others.
If that's the situation, I'll go back through all the listings one more time and narrow it down to the house you've been waiting for.
Step 4 – Know the market
Your agent's knowledge of the Saint Cloud home market is a fundamental element in your home search. And I assure you I'm conscious of all the neighborhoods and school districts, and I can let you know certain neighborhoods are "hot" and require prompt action and some that are "cool" and allow for cautiousness.
As we tour homes, I'll make sure to communicate when the list price has room for bargaining and also when I think the home is "priced to sell."
When working with an agent, be careful and make sure you ask lots of questions. Every real estate agent will tell you they truly understand the housing market.
If things don't add up, just call me at (407) 791-3116 or e-mail me at , and I'll be glad to answer your questions. My understanding of the market will help you stay a step above the rest through the entire process.
Step 5 – Find your dream home
I know we'll find your dream house in the Saint Cloud area. When that happens, I'll precisely create your purchase offer. The offer will be tailored to suit your needs and the home, including many contingencies, such as acquiring financing, carrying out the home inspection, and a clear title.
When we present your offer, you'll want to present "earnest money." This is a cash deposit given to the home seller to secure the offer to buy the property, and it's most often applied to the cost of closing. If your offer is accepted, we should close about 30 to 60 days afterward. This allows sufficient time for your mortgage financing.
Step 6 – Negotiate the deal
Most deals aren't closed on the beginning offer, and it's very common to receive a counter offer. Don't let it intimidate you. We'll discuss whether or not to take the counter offer, submit our own counter offer, or reject the seller's offer and move on.
Market circumstances determine how aggressively we negotiate the deal.
In addition, we'll work within your financing limits. And when it's all said and done, we'll assemble a contract that works well for you.
Step 7 – Get a loan
Upon signing the contract, you'll start working with your lender to close the loan.
It shouldn't be a long process at all if you've been pre-approved, but you should to stay in close contact with your lender.
And I'll take care of all the property information your lender needs to close the loan.
Step 8 – Close the deal
You'll get a Loan Estimate (LE) detailing closing costs from your lender within three days of getting your loan application.
The estimate is based on the loan amount, and RESPA requirements dictate 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 everything looks good.
Then we'll close on your home. This should occur at a title company or escrow office and is often a smooth and peaceful affair.
Step 9 – Move in
Congratulations! Now you can move into your new house. Enjoy it. And if you need anything or have any questions, make sure you call me at (407) 791-3116 or e-mail me at .