Are you buying a home in Saint Cloud? Preferred Real Estate can help.
With a little up-front planning, buying a home isn't very difficult, but the event can be stressful for many people.
So they understand exactly what they can expect, I will give buyers an overview of the whole deal.
These are my nine steps to buying a home.
When you're ready to get started, just contact me here or e-mail me at . I'm glad to address questions you have regarding this information.
Step 1 – Get ready to buy
There are plenty of things you'll want to do prior to beginning your home search.
You'll probably want to put together a check list of must-haves, plan for what school districts and neighborhoods you want to live in, and start working on your budget.
Keeping your mortgage payment less than or close to a third of your net monthly income is a good rule of thumb to go by.
Step 2 – Talk to a real estate agent
That's where I come in.
We can arrange a time to meet so we can talk about 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 could affect your purchase today or in the future, as well as neighborhoods and school districts in the Saint Cloud area.
I can also help you start the loan process.
Preferred Real Estate partners with some of Saint Cloud's best mortgage professionals, so you'll be in great hands.
They will help you determine which type of loan is best for you, as well as help you get qualified.
Step 3 – Begin house-hunting
After we meet for the first time, I'll begin searching for houses on the market that are a good fit for you.
I'll research most of the homes and remove the bad ones, and then we'll book appointments to tour the houses at a time that's convenient for you.
As we view houses, I'll point out good features and negative ones. I'll even ask you what things you like and dislike.
Most often, buyers update their must-have list as we view homes and some items become more crucial than others.
If that's the case, I'll go back through the listings again and trim it down to the house you've been waiting for.
Step 4 – Get a grasp of the housing market
An agent's awareness of the Saint Cloud market is a necessary component in your house search. And I assure you I'm familiar with all the school districts and neighborhoods, and I'll let you know certain neighborhoods are "hot" and warrant prompt action and the ones that are "cool" and allow for careful consideration.
As we tour houses, I'll let you know when the asking price has room for negotiation and when I think the house is "priced to sell."
Be mindful and be sure to ask plenty of questions, as every REALTOR in Saint Cloud 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 more than happy to answer any questions you have. My understanding of the market will help you stay a step above the rest throughout the entire process.
Step 5 – Find the house you've been looking for
I'm sure we'll find your dream house in Saint Cloud. When we do, I'll precisely develop your purchase offer. The offer will be made to fit your needs and the home. We'll include several contingencies, such as obtaining financing, completing the inspection, and a clean title.
Upon turning in your purchase offer, you'll want to present "earnest money." This is a cash deposit made to the seller to secure the offer to buy the property, and it's usually applied to the cost of closing. If the offer is accepted, we should close on the home within 30 to 60 days afterward. This allows sufficient time for your mortgage financing.
Step 6 – Negotiate
A lot of contracts aren't closed on the initial offer – it's pretty common to receive a counter offer. Don't let it alarm you. We'll figure out whether or not to accept the counter offer, submit our own counter offer, or decline the seller's offer and move on.
How aggressively we negotiate the contract depends on market circumstances.
We'll also work within your financing budget. And when it's all said and done, we'll create a deal that is best for you.
Step 7 – Obtain a loan
Upon completing the contract, you'll start working with your lender to close the loan.
If you're pre-approved, this shouldn't take long at all, but you'll need to stay 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
Your mortgage lender will provide you with a Loan Estimate (LE) detailing closing costs within three days of getting your loan application. You'll get a Loan Estimate (LE) outlining closing costs from your lender within three days of receiving your loan application.
This estimate rests on the loan amount. RESPA requirements dictate that it has to contain all closing costs and be within a strict range of accuracy, and I'll examine the estimate and let you know if it all looks adequate.
Then it's time to close on your home. This should occur at a title company or escrow office and will most often be a smooth and hassle-free affair.
Step 9 – Move in
Congratulations! It's time to move into your new home. Enjoy it. And if you have any questions, simply call me at (407) 791-3116 or e-mail me at .