Purchasing a home is intimidating for most people. However, with a little up-front planning, it isn’t that hard. So you understand exactly what to expect, I like to furnish my buyers with an overview of the whole deal. Here are my nine steps to buying a home.
Step 1 – Prepare to buy
There are a lot of things you’ll want to contemplate before commencing your home search. When you begin your search, you’ll probably want to make an index of must-haves, get a feeling for what school districts you want to live in, and start planning around your budget. It is very important to get pre-approved from a lender! The lender will be able to tell you how much you are approved to buy. A good principle to go by is that your mortgage payment should be no more than 1/3 of your net monthly income.
Step 2 – Find an honest, hard working REALTOR
I’d be more than happy to schedule a time to get together with you and speak with you regarding why you want to buy a home and get an idea of your upcoming plans. We’ll discuss everything that might affect your buying decision today or in the future.
I’ll also help you get started on your loan. There are some very good mortgage professionals, and I work with a lot of them, so you can rest assured that you’re in great hands. They will assist you with deciding which kind of loan is best for you and help you get qualified.
Step 3 – Start your home search
After we meet, I’ll begin finding houses on the market that are a great fit for you. We’ll schedule appointments to view the houses whenever it’s most convenient for you.
When we tour houses, we will discuss the positive features and negative ones. Frequently, buyers update their list of must-haves as we view homes, and some things become more crucial than others. We will continue to look at homes until you find the perfect home.
Step 4 – Get a grasp of the housing market
My awareness of the Davidson, Robertson, Montgomery, Sumner, Williams, Wilson, and Cheatham counties’ home markets is an essential asset in your house search.
When we tour houses, I’ll make sure to communicate when the seller’s list price has room for bargaining, and when I believe the house is “priced to sell.”
Step 5 – Find the home you want
We’ll find your dream house, and when we do, we’ll develop your purchase offer. The offer will be tailored to suit your needs. I always suggest making contracts contingent upon items like acquiring financing and the results of the home inspection.
When presenting your purchase offer, we will provide your pre-approval letter from the lender. Sellers prefer contracts from buyers they know have been pre-approved for a mortgage.
Step 6 – Negotiate
Most contracts aren’t closed on the first offer – it’s pretty common to receive a counter offer. but don’t let this intimidate you. We’ll talk over whether or not to accept the counter offer, propose our own counter offer, or reject the seller’s offer. If the seller accepts your offer, you’ll most likely need to present “earnest money.” This is a cash deposit made to a home seller to secure the offer to purchase the property. This deposit is put towards your closing costs. You should close on the property 30 to 60 days afterward. This allows ample time for your inspections and mortgage financing.
Step 7 – Get your loan
Upon signing the contract, you’ll begin working with your lender to close the loan. It won’t take much time since you’re already pre-qualified. It is important to stay in close contact with your lender. I’ll take care of all the property information your mortgage lender needs to close the loan.
Step 8 – Close the deal
Your lender will send you a Good Faith Estimate (GFE) detailing your closing costs within three days of accepting your loan application. This estimate is based on the loan amount. RESPA requirements order that it has to include all closing costs and be within a close range of accuracy. I’ll go over the estimate with you to make sure you understand everything.
Then we’ll close on your house at a title company or escrow office. This will be an exciting day!
Step 9 – Move in
You made it! Now you can move into your new house. Enjoy it. And if you need anything, make sure you call, email, or text me at 615-426-3801 or [email protected]
When you’re ready to get started, simply contact mehere or send e-mail to [email protected] I’m happy to address any questions you have about this information.