Are you buying your home in Davie?
Purchasing a home is an intimidating event for a lot of people. However, with a bit of up-front planning, it's not that hard.
I like to provide buyers with an outline of the entire deal so they understand exactly what to expect.
These are my nine steps to purchasing a home.
When you're ready to get started, you can contact me here or e-mail me at . I'm happy to answer questions you have regarding this information.
Step 1 – Get ready to purchase
There are plenty of things you need to consider before you look for a home.
It's likely that you'll want to assemble a check list of must-haves, get an idea of what school districts you want to live in, and start planning around your budget.
Ensuring your mortgage payment is less than 1/3 of your net monthly income is a good rule of thumb to follow.
Step 2 – Talk to a real estate agent
This is where I come in.
We can schedule a time to get together so we can talk about your real estate needs and get an idea of your future plans.
We'll talk about neighborhoods, schools in the Davie area, the mortgage industry, and any additional economic factors that could potentially affect your buying decision today or in the future.
I'll also assist you in getting started on your loan.
There are some excellent mortgage professionals in Davie, and I work with a lot of them, so you're in great hands.
They'll help you determine which type of loan is best for you, as well as help you get approved.
Step 3 – Begin your search
After we meet, I'll begin searching for homes on the market that are a good fit for you.
I'll preview many of the homes and reject the duds, and then we'll book appointments to tour the homes whenever it's convenient for you.
When we tour homes, I'll point out positive features, as well as negative ones. I'll also ask you to talk about things you like and don't like.
It's common for buyers to revise their wish list as we view homes and some items become far more important than others.
If that's the case, I'll search the listings once again and trim it down to the house of your dreams.
Step 4 – Understand the market
An agent's knowledge of the Davie home market is an essential agent in your house search. And I can assure you I'm acquainted with all the neighborhoods and schools, and I will let you know some districts are "hot" and warrant immediate action and the ones that are "cool" and allow for more analysis.
When we tour homes, I'll be sure to tell you when the asking price has room for bargaining and when I believe the house is "priced to sell."
Be careful and be sure to ask lots of questions, as every real estate agent will tell you they truly understand the market.
If it seems like they don't know everything, just call me at (954) 598-0700 or e-mail me at , and I'd be glad to answer any questions you have. My understanding of the market will keep you a step ahead throughout the entire process.
Step 5 – Find the house you've been looking for
I'm sure we'll find your dream home in Davie. When that happens, I'll meticulously develop your purchase offer. The offer will be tailored with your needs in mind and the home, including many contingencies. A few examples are getting financing, completing the home inspection, and a clear title.
Upon presenting your offer, you'll probably want to submit "earnest money." This is a cash deposit made to the seller to secure an offer to purchase the property, and it's typically put towards the cost of closing. If the seller accepts your offer, we should close on the property about 30 to 60 days afterward. This allows sufficient time for your mortgage financing.
Step 6 – Negotiate the deal
Unfortunately most contracts don't close on the first offer, and it's very common to receive a counter offer. Don't let it discourage you. We'll consider whether or not to accept the counter offer, submit our own counter offer, or decline the seller's offer and go on.
Market circumstances will play a vital role in how aggressively we negotiate the deal.
In addition, we'll work within your financing budget. And when it's all said and done, we'll formulate a deal that is best for you.
Step 7 – Secure your loan
Upon finalizing the deal, you'll begin working with your mortgage lender to close the loan.
If you're pre-qualified, it won't take long at all. However, you'll want to keep in close contact with your lender.
And I'll sort out all the property information your mortgage lender will need to close the loan.
Step 8 – Close the deal
Your lender will give you a Loan Estimate (LE) outlining closing costs within three days of receiving your application. You'll get a Loan Estimate (LE) detailing your closing costs from your lender within three days of accepting your loan application.
The estimate is formed from the loan amount. RESPA requirements mandate that it has to involve all closing costs and be within a narrow range of accuracy, and I'll examine the estimate and let you know if everything looks adequate.
Then we'll close on your house. This will most likely occur at a title company or escrow office and will most likely be a smooth and calm occasion.
Step 9 – Move in
Congratulations! Now you can move into your new home. Enjoy it. And if you have any questions, just call me at (954) 598-0700 or e-mail me at .