Buying or selling a home?
For a lot of people, buying a home is a stressful event. However, with some up-front planning, it isn't all that difficult.
So they'll understand exactly what to expect, I'll give buyers a road map of the entire 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 glad to answer questions you have about this information.
Step 1 – Prepare to buy a home
Before you begin your home search, there are many things you'll want to take into account.
You'll want to assemble an outline of must-have features, get a plan of what neighborhoods you want to live in, and start planning your budget.
Ensuring your mortgage payment is less than or around a third of your monthly income is a good guideline to follow.
Step 2 – Talk to a real estate agent in Davie
This is where I come in.
I'd like to set up a time to meet with you and communicate with you about why you want to buy a home and get an idea of your plans for the future.
We'll discuss the mortgage and housing industries, other economic factors that might affect your buying decision today or in the future, as well as neighborhoods and schools in the Davie area.
In addition, I'll help you get started on your loan.
There are some very good mortgage professionals in Davie, and I work with a lot of them, so you can rest assured that you're in great hands.
They'll assist you with choosing which kind of loan is best for you and help you get approved.
Step 3 – Start your search
After we meet for the first time, I'll begin searching for available homes on the market that are a good fit for you.
I'll preview many of the homes and eliminate the bad ones, and then we'll book appointments to tour the houses whenever it's convenient for you.
As we tour the houses, I'll identify positive features, as well as bad ones. I'll also ask you about things you like and dislike.
It's widely common for buyers to change their wish list as we view homes and some things become more substantial than others.
If that's the case, I'll search all the listings once more and trim it down to the house you've been wishing for.
Step 4 – Get a grasp of the market
Your agent's understanding of the Davie housing market is an essential component in your home search. And I assure you I'm informed of all the neighborhoods and schools, and I can communicate some neighborhoods are "hot" and call for prompt action and the ones that are "cool" and allow for careful consideration.
As we view houses, I'll let you know if the list price has room for negotiation or if I believe the house is "priced to sell."
When working with an agent, be mindful and be sure to ask a lot of questions, as every REALTOR will tell you they know the home market.
If things don't add up, just call me at (954) 598-0700 or e-mail me at , and I'd be more than happy to answer any questions you may have. My understanding of the market will help you stay a step above the rest through the entire process.
Step 5 – Find the home you've been waiting for
We'll find the house of your dreams in the Davie area, and when that happens, I'll meticulously create your real estate purchase offer. The offer will be made to suit your needs and the home. We'll include many contingencies, such as obtaining financing, carrying out the inspection, and a clean title.
When we turn in your offer, you'll need to submit "earnest money." This is a cash deposit made to the home seller to secure the offer to purchase the property. The amount is often put towards the cost of closing. If your offer is accepted by the seller, we should close about 30 to 60 days after. This allows enough time for your mortgage financing.
Step 6 – Negotiate
Unfortunately most contracts don't close on the first offer – it's very common to receive a counter offer. But don't let this alarm you. We'll discuss whether or not to consent to the counter offer, submit our own counter offer, or decline the seller's offer and go on.
Market circumstances will play a big part in how aggressively we negotiate the contract.
In addition, we'll work within your financing constraints. And when it's all said and done, we'll formulate a deal that is best for you.
Step 7 – Secure financing
Upon completing the deal, you'll start working with your lender to close the loan.
If you're already pre-approved, it won't take much time at all. However, you'll want to stay in close contact with your mortgage lender.
And I'll take care of all the property information your mortgage lender will need to close the loan.
Step 8 – Close the deal
You'll get a Loan Estimate (LE) detailing your closing costs from your mortgage lender within three days of accepting your loan application.
This estimate rests on the loan amount, and RESPA requirements dictate that it has to include all closing costs and be within a strict range of accuracy. I'll review the estimate and let you know if everything looks adequate.
Then we'll close on your home. This will most often happen at a title company or escrow office and will most likely be a smooth and easygoing occurrence.
Step 9 – Move in
Congratulations! Now you can move into your new home. Enjoy it. And if you need anything, make sure you call me at (954) 598-0700 or e-mail me at .