Buying your home in Saint Cloud
For a lot of people, buying a home is a stressful event. But with some planning ahead of time, it's not too difficult.
I like to supply buyers with an overview of the entire deal so they'll understand exactly what they can expect.
These are my nine steps to buying a home.
If you have questions regarding this information or if you're prepared to get started, you can contact me here or e-mail me at .
Step 1 – Get ready to buy a home
There are a lot of things you'll want to take into account prior to starting your home search.
When you begin your search, you'll want to create a checklist of features you want to have, get a feeling for what school districts you'd like to live in, and start working on your budget.
A good principle to follow is that your mortgage payment should be a third of your monthly income.
Step 2 – Speak with a real estate agent in Saint Cloud
This is where I come in.
We'll set up a time to meet so we can talk about your real estate needs and get an idea of your plans for the future.
We'll talk about everything from neighborhoods, schools 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.
I can also help you facilitate the loan process.
There are some very good mortgage professionals in Saint Cloud, and I work with a lot of them, so you'll be in great hands.
They will help you figure out which kind of loan is best for you, as well as help you get approved.
Step 3 – Start your search
After our first meeting, I'll start finding houses on the market that are a great fit for you.
I'll preview most of the houses and remove the duds, and then we'll set up appointments to view the houses whenever it's most convenient for you.
As we view homes, I'll call attention to good features, as well as negative ones. I'll even ask you what things you like and don't like.
It's common for buyers to amend their wish list as we view houses and some features become more necessary than others.
If that's the situation, I'll go back through the listings again and narrow it down to the home you've been waiting for.
Step 4 – Understand the market
My awareness of the Saint Cloud home market is a fundamental element in your house search. I am mindful of all the schools and neighborhoods, and I'll alert you to which districts are "hot" and demand prompt action and some that are "cool" and allow for thoughtful analysis.
When we tour homes, I'll let you know when the seller's asking price has room for negotiation and also when I trust the house is "priced to sell."
Trust your instincts and make sure you ask plenty of questions, as any REALTOR in Saint Cloud will claim to know the market.
If it seems like they don't know everything, just call me at (407) 791-3116 or e-mail me at , and I'll be happy to answer any questions you may have. My understanding of the market will help you stay a step ahead throughout the entire process.
Step 5 – Find the home you've been waiting for
We'll find the house of your dreams in the Saint Cloud area, and when that happens, I'll carefully develop your real estate purchase offer. The offer will be tailored with your needs in mind and the home, including many contingencies. A few examples are acquiring financing, completing the 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 made to the seller to secure the offer to purchase the property and is typically put towards the cost of closing. If the seller accepts your offer, we should close within 30 to 60 days afterward. This allows enough time for your mortgage financing.
Step 6 – Negotiate the deal
Unfortunately most deals don't close on the initial offer, and it's very common to receive a counter offer. But don't let it intimidate you. We'll consider whether or not to take the counter offer, submit our own counter offer, or refuse the seller's offer and move on.
Market circumstances determine how aggressively we negotiate the contract.
We'll also work within your financing budget. And at the end of the day, we'll put together a contract that works well for you.
Step 7 – Secure financing
After the deal is finalized, you'll begin working with your lender to close the loan.
If you're already pre-qualified, it shouldn't take much time at all, but you'll want to stay in close contact with your mortgage lender.
And I'll care for all the property information your mortgage lender will need 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 mortgage lender within three days of accepting your application.
This estimate is formed from the loan amount, and RESPA requirements require that it has to contain all closing costs and be within a close range of accuracy. I'll examine the estimate and let you know if everything looks all right.
Then we'll close on your house. This will probably happen at a title company or escrow office and is often a smooth and hassle-free occurrence.
Step 9 – Move in
Congratulations! It's time to 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 .