Buying or selling a home?
Buying a home is stressful for a lot of people. However, with some up-front planning, it's not too hard.
So they understand exactly what to expect, I like to supply buyers with an outline of the entire deal.
These are my nine steps to buying a home.
If you have questions about any of this information or if you're prepared to get started, simply contact me here or e-mail me at .
Step 1 – Get ready to buy a home
Before you start searching for a home, there are many things you'll want to do.
When you start your search, you'll probably want to put together a list of must-have features, get a plan of what neighborhoods you'd like to live in, and begin planning your budget.
Ensuring your mortgage payment is less than or close to 30 percent of your monthly income is a good rule to adhere to.
Step 2 – Get in touch with a real estate agent
That's where I come in.
I'd love to arrange 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 future plans.
We'll discuss everything from neighborhoods, schools in the Muskogee area, the mortgage industry, to any other economic factors that may affect your buying decision today or in the future.
I'll also help you start the loan process.
There are some very good mortgage professionals in Muskogee, and I partner with a lot of them, so you're in great hands.
They can assist you with deciding which kind of loan is best for you and help you get qualified.
Step 3 – Start your home search
Following our initial meeting, I'll start looking for houses on the market that are a good fit for you.
I'll research many of the homes and remove the bad ones, and then we'll book appointments to tour the houses whenever it's most convenient for you.
As we tour the homes, I'll identify positive features, as well as negative ones. And I'll ask you about things you like and dislike.
It's widely common for buyers to update their list of must-haves as we view houses and some things become more essential than others.
If such is the case, I'll go back through the listings another time and trim it down to the house you've been dreaming about.
Step 4 – Understand the housing market
Your agent's knowledge of the Muskogee home market is a fundamental component in your house search. And I assure you I'm acquainted with all the neighborhoods and schools, and I can let you know which districts are "hot" and demand prompt action and some that are "cool" and allow for careful examination.
When we view homes, I'll be sure to tell you if the asking price has room for negotiation or if I believe the home is "priced to sell."
When working with an agent, be on guard and be sure to ask a lot of questions. Every real estate agent will claim to comprehend the market.
If things don't add up, contact me at (918)348-9250 or e-mail me at , and I'd be more than happy to answer your questions. My market knowledge will keep you a step above the rest through the entire process.
Step 5 – Find the house you've been waiting for
I'm positive we'll find the house of your dreams in Muskogee. When that happens, I'll thoroughly develop your real estate purchase offer. The offer will be tailored with your needs in mind and the home, including a lot of contingencies. A few examples are obtaining financing, carrying out the inspection, and a clean title.
When turning in your offer, most likely you'll need to present "earnest money." This is a cash deposit made to a home seller to secure an offer to buy the property. The amount is often put towards the cost of closing. If the seller accepts your offer, we should close on the property within 30 to 60 days afterward. This allows sufficient time for your mortgage financing.
Step 6 – Negotiate the deal
A lot of contracts don't close on the beginning offer – it's pretty common to receive a counter offer. But don't let it alarm you. We'll talk about whether or not to take the counter offer, present our own counter offer, or decline the seller's offer and move on.
The state of the market will play a part in how aggressively we negotiate the deal.
In addition, we'll work within your financing constraints. 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 begin working with your lender to close the loan.
If you're already pre-approved, it shouldn't take much time at all. But you need to stay in close contact with your mortgage lender.
And I'll handle all the property information your mortgage lender needs to close the loan.
Step 8 – Close the deal
Your lender will supply you with a Loan Estimate (LE) detailing closing costs within three days of accepting your loan application. You'll get a Loan Estimate (LE) of your closing costs from your mortgage lender within three days of getting your loan application.
The estimate rests on the loan amount, and RESPA requirements dictate that it has to contain all closing costs and fall within a strict range of accuracy. I'll analyze the estimate and let you know if it all looks permissible.
Then we'll close on your home. This will likely occur at a title company or escrow office and will probably be a smooth and relaxing event.
Step 9 – Move in
Congratulations! Now you can move into your new house. Enjoy it. And if you need anything, simply contact me at (918)348-9250 or e-mail me at .