Buying a home intimidates most people, but with a bit of up-front planning, it isn't all that difficult.
I like to supply buyers with a road map of the entire deal so they'll understand exactly what they can expect.
Below are my nine steps to buying a home.
 |
 |
 |
Should you have any questions about any of this information or if you're ready to get started, you can contact me here or e-mail me at amberyearout@aol.com.
|
|
|
|
|
Step 1 – Get ready to purchase a home
There are several things you'll want to contemplate before you start looking for a home.
When you begin your search, you'll want to create an index of items you need to have, plan for what school districts and neighborhoods you want to live in, and begin working on your budget.
A good principle to go by is that your mortgage payment should be 1/3 of your monthly income.
Step 2 – Contact a real estate agent
This is where I come in.
I'd like to book a time to get together with you and communicate with you regarding why you want to buy a home and get an idea of your future plans.
We'll discuss neighborhoods, school districts in the Bartlesville 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 with getting started on your loan.
There are some great mortgage professionals in Bartlesville, and I partner with a lot of them, so you can rest assured that you're in great hands.
They will assist you with figuring out which type of loan is best for you and help you get approved.
Step 3 – Begin looking for a house
Following our first meeting, I'll begin finding available homes on the market that suit your needs.
I'll research many of the houses and throw out the duds, and then we'll set up appointments to tour the houses when it's convenient for you.
When we view the houses, I'll point out good features, as well as bad ones. I'll even 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 view houses and some items become far more substantial than others.
If such is the case, I'll go back through all the listings once again and trim it down to the house of your dreams.
Step 4 – Get a grasp of the housing market
Your agent's awareness of the Bartlesville market is an essential element in your home search. And I can assure you I'm familiar with all the school districts and neighborhoods, and I'll communicate what neighborhoods are "hot" and warrant prompt action and some that are "cold" and allow for cautiousness.
When we view houses, I'll be sure to tell you when the list price has room for negotiation and also when I believe the home is "priced to sell."
Trust your instincts and make sure you ask lots of questions, as every REALTOR® in Bartlesville will convince you they truly know the housing market.
If things don't add up, contact me at 9183336500 or e-mail me at amberyearout@aol.com, and I'd be more than happy to answer any questions you might have. My market expertise will keep you a step above the rest through the entire deal.
Step 5 – Find the home you've been looking for
I'm sure we'll find the home of your dreams in the Bartlesville area. When that happens, I'll thoroughly create your purchase offer. The offer will be tailored to suit your needs, including several contingencies, such as acquiring financing, completing the home inspection, and a clean title.
When submitting your purchase offer, you'll need to present "earnest money." This is a cash deposit given to a home seller to secure an offer to buy the property, and it's usually put towards the cost of closing. If your offer is accepted by the seller, we should close on the home about 30 to 60 days after. This allows sufficient time for your mortgage financing.
Step 6 – Negotiate
Unfortunately most contracts aren't closed on the initial offer, and it's very common to receive a counter offer. Don't let this intimidate you. We'll talk over whether or not to accept the counter offer, present our own counter offer, or refuse the seller's offer and go on.
How aggressively we negotiate the deal depends on the state of the market.
We'll also work within your financing budget. And when it's all said and done, we'll compose a contract that works well for you.
Step 7 – Secure a loan
After the deal is signed, you'll start working with your lender to close the loan.
It shouldn't take long at all if you're already pre-qualified, but you'll want to stay in close contact with your mortgage lender.
And I'll handle all the property information your lender needs to close the loan.
Step 8 – Close the deal
Your lender will send you a Good Faith Estimate (GFE) detailing closing costs within three days of receiving your loan application. You'll get a Good Faith Estimate (GFE) outlining closing costs from your mortgage lender within three days of accepting your loan application.
This estimate is based on the loan amount, and RESPA requirements order that it has to involve all closing costs and fall within a narrow range of accuracy. I'll study the estimate and let you know if everything looks good.
Then it's time to close on your house. This will most often take place at a title company or escrow office and will likely be a smooth and pleasant occasion.
Step 9 – Move in
Congratulations! It's time to move into your new house. Enjoy it. And if you have any questions, be sure to call me at 9183336500 or send me an e-mail.
