Buying or selling a home in Saint Cloud? Preferred Real Estate can help.
For many people, buying a home can be an intimidating event. But with a little up-front planning, it's not very complicated.
So they understand exactly what they can expect, I'll furnish buyers with a road map of the whole deal.
Here are my nine steps to buying a home.
Should you have questions about this information or if you're ready to get started, just contact me here or e-mail me at .
Step 1 – Prepare to purchase
Before you start searching for a home, there are many things you'll want to consider.
When you begin your search, you'll want to make an outline of features you need, plan for what neighborhoods you'd like to live in, and begin planning around your budget.
Keeping your mortgage payment around a third of your monthly income is a good principle to adhere to.
Step 2 – Connect with a real estate agent in Saint Cloud
That's where I come in.
I'd be more than happy to plan a time to get together with you and speak with you regarding your real estate needs and get an idea of your upcoming plans.
We'll talk about the mortgage and housing industries, other economic factors that may potentially affect your buying decision today or in the future, as well as neighborhoods and schools in the Saint Cloud area.
In addition, I'll assist you with getting started on your loan.
Preferred Real Estate works with some of the best mortgage professionals in Saint Cloud, so you'll be in great hands.
They'll help you choose which type of loan is best for you, as well as help you get qualified.
Step 3 – Start your search
After we meet, I'll begin finding homes on the market that are a great fit for you.
I'll get a sneak peek of most of the houses and eliminate the bad ones, and then we'll book appointments to view the homes whenever it's most convenient for you.
As we view the homes, I'll show you the good features, as well as negative ones. I'll also ask you to talk about things you like and don't like.
Oftentimes, buyers revise their must-have list as we tour houses and some features become far more essential than others.
If such is the case, I'll go back through the listings again and trim it down to the home you've been waiting for.
Step 4 – Understand the housing market
My awareness of the Saint Cloud market is a necessary factor in your home search. I'm conscious of all the schools and neighborhoods, and I can alert you to which areas are "hot" and warrant immediate action and the ones that are "cool" and allow for thoughtful consideration.
When we tour houses, I'll be sure to tell you if the list price has room for bargaining or if I believe the house is "priced to sell."
When working with an agent, be careful and make sure you ask lots of questions, as any real estate agent in Saint Cloud will tell you they truly understand the home market.
If it doesn't seem like they know everything, just call me at (407) 791-3116 or e-mail me at , and I'd be happy to answer any questions you have. My market expertise will keep you a step ahead throughout the entire deal.
Step 5 – Find the home you've been waiting for
We'll find the home of your dreams in Saint Cloud, and when we do, I'll meticulously develop your purchase offer. The offer will be made to suit your needs and the home. We'll include many contingencies, such as getting financing, completing the home inspection, and a clean title.
Upon sending in your purchase offer, most likely you'll need to present "earnest money." This is a cash deposit submitted to the home seller to secure the offer to buy the property and is most often applied to the cost of closing. If your offer is accepted by the seller, we should close on the property within 30 to 60 days after. This allows ample time for your mortgage financing.
Step 6 – Negotiate the deal
Unfortunately most deals don't close on the first offer, and it's really common to receive a counter offer. But don't let this intimidate you. We'll figure out whether or not to agree to the counter offer, propose our own counter offer, or refuse the seller's offer and move on.
Market circumstances will play a vital role in how aggressively we negotiate the deal.
In addition, we'll work within your budget. And at the end of the day, we'll assemble a contract that's best for you.
Step 7 – Secure your loan
Once we sign the final sales contract, you'll start working with your mortgage lender to close the loan.
If you're already pre-qualified, this shouldn't take long at all, but you'll want 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 provide you with a Loan Estimate (LE) detailing closing costs within three days of taking your application. You'll get a Loan Estimate (LE) of your closing costs from your lender within three days of taking your loan application.
This estimate rests on the loan amount. RESPA requirements require that it has to contain all closing costs and fall within a strict range of accuracy, and I'll review the estimate and let you know if everything looks permissible.
Then it's time to close on your house. This will most often take place at a title company or escrow office and will likely be 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 need anything or have any questions, just contact me at (407) 791-3116 or e-mail me at .