Are you contemplating purchasing a new home in Monroe? Appleseed Realty can help.
Buying a home is stressful for most people. However, with some up-front planning, it isn't very complex.
So you understand exactly what to expect, I like to furnish my buyers with an outline of the whole deal.
Below are my nine steps to buying a home.
Step 1 – Get ready to buy a home
There are many things you'll want to take into account prior to commencing your home search.
You'll want to put together a list of items you want, plan for what neighborhoods and school districts you want to live in, and begin working on your budget.
A good principle to go by is that your mortgage payment should be around 30 percent of your net monthly income.
Step 2 – Talk to a real estate agent in Monroe
That's where I come in.
I'd be happy to book a time to meet with you and talk about your real estate needs and get an idea of your plans for the future.
We'll talk about neighborhoods, school districts in the Monroe area, the mortgage and housing industries, and any additional economic factors that may potentially affect your buying decision today or in the future.
I'll also assist you with getting started on your loan.
Appleseed Realty works with some of the finest mortgage professionals in Monroe, so you'll be in great hands.
They'll assist you in determining which type of loan is best for you and help you get approved.
Step 3 – Start your search
Following our first meeting, I'll begin finding homes on the market that are a good fit for you.
I'll preview most of the houses and ignore the bad ones, and then we'll book appointments to view the homes whenever it's most convenient for you.
When we tour houses, I'll identify positive features and negative ones. I'll even ask you about things you like and dislike.
It's widely common for buyers to update their wish list as we view houses and some things become more substantial than others.
If that happens, I'll look through all the listings once again and trim it down to the home of your dreams.
Step 4 – Know the housing market
An agent's knowledge of the Monroe market is a fundamental factor in your home search. And I assure you I'm informed of all the schools and neighborhoods, and I will alert you to certain districts are "hot" and warrant immediate action and the ones that are "cold" and allow for more analysis.
When we view homes, I'll make sure to communicate when the seller's list price has room for negotiation and when I trust the home is "priced to sell."
Be mindful and make sure you ask lots of questions, as every real estate agent will convince you they know the market.
If it doesn't seem like they know everything, just call me at (704) 219-3160 or e-mail me at email@example.com, and I'd be more than happy to answer your questions. My market knowledge will keep you a step ahead through the entire process.
Step 5 – Find your dream house
I'm sure we'll find the house of your dreams in Monroe. When that happens, I'll carefully develop your purchase offer. The offer will be tailored to suit your needs, including a lot of contingencies, such as getting financing, completing the inspection, and a clear title.
Upon presenting your offer, you'll probably need to present "earnest money." This is a cash deposit submitted to a seller to secure the offer to buy the property and is most often put towards the cost of closing. If the offer is accepted by the seller, we should close within 30 to 60 days afterward. This allows necessary time for your mortgage financing.
Step 6 – Negotiate
A lot of contracts aren't closed on the beginning offer – it's extremely common to receive a counter offer. But don't let it discourage you. We'll consider whether or not to take the counter offer, propose our own counter offer, or refuse the seller's offer and move on.
How aggressively we negotiate the contract depends on market conditions.
We'll also work within your budget. And at the end of the day, we'll assemble a contract that works well for you.
Step 7 – Obtain financing
After the deal is finalized, you'll begin working with your lender to close the loan.
If you've been pre-qualified, it shouldn't take very long at all, but you need to keep in close contact with your mortgage lender.
And I'll take care of all the property information your lender needs to close the loan.>
Step 8 – Close the deal
You'll get a Good Faith Estimate (GFE) of closing costs from your mortgage lender within three days of accepting your application.
The estimate is formed from the loan amount. RESPA requirements order that it has to include all closing costs and fall within a tight range of accuracy, and I'll examine the estimate and let you know if everything looks okay.
Then we'll close on your home. This should take place at a title company or escrow office and will most likely be a smooth and calm occurrence.
Step 9 – Move in
You made it! It's time to move into your new house. Enjoy it. And if you need anything, just contact me at (704) 219-3160 or send me an e-mail.