For many people, buying a home can be an intimidating event. However, with a bit of up-front planning, it's not that hard.
I like to give buyers a road map of the entire deal so they know exactly what to expect.
Below are my nine steps to buying a home.
Step 1 – Get ready to purchase
There are a lot of things you should consider before you start looking for a home.
When you begin your search, you'll want to create a check list of features you want to have, get a plan of what school districts you want to live in, and begin planning around your budget.
Keeping your mortgage payment less than or close to 30 percent of your net monthly income is a good rule of thumb to go by.
Step 2 – Get in touch with a real estate agent in Quartz Hill
That's where I can help.
We can schedule a time to meet so we can talk about your real estate needs and get an idea of your upcoming plans.
We'll talk about everything from neighborhoods, school districts in the Quartz Hill area, the mortgage industry, to any other economic factors that might affect your purchase today or in the future.
I'll also help you start the loan process.
There are some very good mortgage professionals in Quartz Hill, and I partner with a lot of them, so you're in great hands.
They will assist you with determining which kind of loan is best for you and help you get approved.
Step 3 – Start looking
After our first meeting, I'll start searching for homes on the market that are a good fit for you.
I'll get a sneak peek of many of the houses and exclude the bad ones, and then we'll set up appointments to tour the houses whenever it's most convenient for you.
As we tour homes, I'll call attention to good features, as well as bad ones. I'll even ask you to point out what things you like and dislike.
It's widely common for buyers to revise their must-have list as we tour houses and some features become more necessary than others.
If that's the situation, I'll look through the listings once more and narrow it down to the house you've been wishing for.
Step 4 – Get a feel for the market
My understanding of the Quartz Hill housing market is a valuable benefit in your home search. I am mindful of all the neighborhoods and school districts, and I'll let you know what areas are "hot" and demand prompt action and the ones that are "cool" and allow for more consideration.
As we view houses, I'll be sure to tell you if the list price has room for negotiation or if I believe the home is "priced to sell."
Be mindful and make sure you ask lots of questions, as any REALTOR® will convince you they truly understand the housing market.
If things don't add up, contact me at (661) 406-7292 or e-mail me at chrislarkins@inbox.com, and I'd be happy to answer your questions. My market knowledge will keep you a step ahead through the entire process.
Step 5 – Find the house you've been waiting for
I'm confident we'll find your dream house in Quartz Hill. When we do, I'll carefully create your real estate purchase offer. The offer will be tailored exactly to your needs, including several contingencies. A few examples are getting financing, finishing the home inspection, and a clear title.
When we submit your offer, you'll probably want to present "earnest money." This is a cash deposit made to the seller to secure the offer to buy the property. The amount is usually put towards the cost of closing. If the offer is accepted by the seller, we should close on the property within 30 to 60 days afterward. This allows plenty of time for your mortgage financing.
Step 6 – Negotiate the deal
Unfortunately most contracts aren't closed on the initial offer. It's pretty common to receive a counter offer. Don't let it intimidate you. We'll talk about whether or not to take the counter offer, submit our own counter offer, or refuse the seller's offer and move on.
The state of the market will play a large 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 compose a contract that is best for you.
Step 7 – Get financing
Once we sign the final deal, you'll start working with your mortgage lender to close the loan.
If you've been pre-qualified, this shouldn't take much time at all. But you should to keep in close contact with your lender.
And I'll manage all the property information your lender will need to close the loan.
Step 8 – Close the deal
Your lender will provide you with a Good Faith Estimate (GFE) outlining closing costs within three days of taking your loan application. You'll get a Good Faith Estimate (GFE) outlining your closing costs from your lender within three days of accepting your loan application.
This estimate depends on the loan amount. RESPA requirements dictate that it has to contain all closing costs and be within a precise range of accuracy, and I'll analyze the estimate and let you know if it all looks adequate.
Then we'll close on your home. This will most likely happen at a title company or escrow office and will most often be a smooth and calm occasion.
Step 9 – Move in
You made it! It's time to move into your new home. Enjoy it. And if you have any questions, simply contact me at (661) 406-7292 or send me an e-mail.
