For a lot of people, buying a home is a stressful event. But with a little planning ahead of time, it's not too hard.
So you'll understand exactly what to expect, I like to supply my buyers with an overview of the whole deal.
Here are my nine steps to buying a home.
Step 1 – Prepare to buy a home
There are several things you should take into account before you search for a home.
You'll probably want to make a checklist of items you need to have, plan for what school districts and neighborhoods you'd like to live in, and begin planning your budget.
Ensuring your mortgage payment is less than or around a third of your net monthly income is a good principle to adhere to.
Step 2 – Get with a real estate agent in Fort lauderdale
This is where I come in.
We can plan a time to meet so we can talk about your real estate needs and get an idea of your future plans.
We'll discuss the mortgage industry, other economic factors that may potentially affect your buying decision today or in the future, as well as neighborhoods and school districts in the Fort lauderdale area.
I'll also help you get started on your loan.
There are some very good mortgage professionals in Fort lauderdale, and I partner with a lot of them, so you'll be in great hands.
They can assist you in deciding which kind of loan is best for you and help you get approved.
Step 3 – Begin your search
After our initial meeting, I'll begin searching for homes on the market that are good for you.
I'll preview many of the homes and ignore the bad ones, and then we'll schedule appointments to tour the homes at a time that's convenient for you.
When we view houses, I'll call attention to good features and negative ones. I'll also ask you what things you like and dislike.
Usually, buyers revise their list of must-haves as we tour homes and some items become far more essential than others.
If such is the case, I'll look through all the listings again and narrow it down to the house you've been waiting for.
Step 4 – Get a feel for the housing market
An agent's awareness of the Fort lauderdale housing market is an imperative agent in your home search. And I can assure you I'm informed of all the neighborhoods and schools, and I'll communicate some neighborhoods are "hot" and require immediate action and some that are "cold" and allow for careful analysis.
When we view homes, I'll be sure to tell you when the seller's list price has room for negotiation and also when I trust the home is "priced to sell."
Trust your instincts and make sure you ask your agent plenty of questions, as every REALTOR® will tell you they truly know the market.
If things don't add up, just call me at 954-818-4743 or e-mail me at sales@cstrealestate.com, and I'd be glad to answer your questions. My market expertise will help you stay a step ahead through the entire process.
Step 5 – Find the house you've been looking for
I'm certain we'll find the house of your dreams in the Fort lauderdale area, and when we do, I'll meticulously create your purchase offer. The offer will be written exactly to your needs. Whenever necessary, I never forget to make contracts contingent upon items like acquiring financing and the results of the home inspection.
When we submit your purchase offer, you'll need to submit "earnest money." This is a cash deposit given to a home seller to secure an offer to buy the property, and it's typically put towards the cost of closing. If the seller accepts your offer, we should close on the home within 30 to 60 days afterward. This allows plenty of time for your mortgage financing.
Step 6 – Negotiate
Most deals aren't closed on the beginning offer, and it's widely common to receive a counter offer. Don't let this discourage 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.
Market circumstances determine how aggressively we negotiate the contract.
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 a loan
Upon finishing the deal, you'll start working with your lender to close the loan.
If you're pre-qualified, it won't take much time at all, but you'll need to stay in close contact with your mortgage lender.
And I'll deal with all the property information your lender needs to close the loan.
Step 8 – Close the deal
Your lender will supply you with a Good Faith Estimate (GFE) of closing costs within three days of accepting your loan application. You'll get a Good Faith Estimate (GFE) detailing closing costs from your mortgage lender within three days of taking your loan application.
The estimate is based on the loan amount. RESPA requirements order that it has to include all closing costs and be within a narrow range of accuracy, and I'll review the estimate and let you know if it all looks all right.
Then we'll close on your house. This will most often take place at a title company or escrow office and will most often be a smooth and relaxing occurrence.
Step 9 – Move in
You made it! It's time to move into your new home. Enjoy it. And if you have any questions, be sure to contact me at 954-818-4743 or send me an e-mail.
