Are you contemplating buying your home in Davie?
Buying a home intimidates a lot of people, but it's not that complicated with a bit of up-front planning.
I like to supply buyers with an overview of the whole deal so they understand exactly what to expect.
Here are my nine steps to buying a home.
If you have questions regarding any of 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
Before you begin looking for a home, there are many things you should consider.
You'll probably want to assemble an outline of items you want, get a feeling for what neighborhoods and school districts you'd like to live in, and start working on your budget.
A good rule to follow is that your mortgage payment should be less than a third of your monthly income.
Step 2 – Talk to a real estate agent
This is where I can help.
I'd be happy to set up a time to meet with you and communicate 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 could potentially affect your purchase today or in the future, as well as neighborhoods and schools in the Davie area.
I can also help you facilitate the loan process.
I partner with some of the best mortgage professionals in Davie, so you're in great hands.
They will assist you in determining which type of loan is best for you and help you get qualified.
Step 3 – Start looking for a home
After we meet, I'll begin looking for available homes on the market that meet your needs.
I'll get a sneak peek of many of the houses and eliminate the bad ones, and then we'll set up appointments to view the homes at a time that's convenient for you.
As we tour the houses, I'll show you the positive features, as well as negative ones. And I'll ask you about things you like and don't like.
It's pretty common for buyers to update their list of must-haves as we tour houses and some items become far more necessary than others.
If that's the case, I'll go back through all the listings another time and trim it down to the home you've been wishing for.
Step 4 – Know the housing market
My understanding of the Davie housing market is an essential agent in your house search. I am acquainted with all the neighborhoods and school districts, and I'll alert you to what areas are "hot" and demand immediate action and others that are "cold" and allow for thoughtful consideration.
When we view houses, I'll make sure to communicate if the seller's list price has room for bargaining or if I believe the home is "priced to sell."
Be careful and be sure to ask your agent a lot of questions, as any REALTOR will claim to know the market.
If it doesn't seem like they know everything, contact me at (954) 598-0700 or e-mail me at , and I'll be glad to answer your questions. My market knowledge will keep you a step ahead through the entire deal.
Step 5 – Find the house you've been waiting for
We'll find the home of your dreams in the Davie area, and when that happens, I'll carefully create your purchase offer. The offer will be tailored exactly to your needs and the home, including some contingencies, such as acquiring financing, completing the inspection, and a clear title.
When presenting your offer, you'll need to present "earnest money." This is a cash deposit made to a home seller to secure an offer to buy the property, and it's usually applied to the cost of closing. If the seller accepts the offer, we should close on the property within 30 to 60 days afterward. This allows ample time for your mortgage financing.
Step 6 – Negotiate the deal
A lot of contracts aren't closed on the first offer – it's very common to receive a counter offer. But don't let this intimidate you. We'll talk over whether or not to take the counter offer, submit our own counter offer, or refuse the seller's offer and move on.
How aggressively we negotiate the deal depends on market circumstances.
We'll also work within your budget. And at the end of the day, we'll assemble a deal that is best for you.
Step 7 – Obtain a loan
After the contract is finalized, you'll start working with your lender to close the loan.
If you're pre-qualified, it shouldn't take very long at all. However, you'll need to stay in close contact with your mortgage lender.
And I'll care for all the property information your mortgage lender needs to close the loan.
Step 8 – Close the deal
You'll get a Loan Estimate (LE) outlining closing costs from your mortgage lender within three days of getting your application.
The estimate depends on the loan amount, and RESPA requirements require that it has to involve all closing costs and fall within a narrow range of accuracy. I'll examine the estimate and let you know if it all looks permissible.
Then we'll close on your home. This will likely happen at a title company or escrow office and will likely be a smooth and hassle-free event.
Step 9 – Move in
Congratulations! It's time to move into your new house. Enjoy it. And if you need anything, just call me at (954) 598-0700 or e-mail me at .