Buying or selling a home?
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Buying a home can be stressful for most people, but with a little up-front planning, it isn't very confusing.
So they know exactly what to expect, we will supply buyers with a road map of the entire deal.
These are our nine steps to buying a home.
When you're ready to get started, you can contact us here or e-mail at BarbaraFlaHomes@aol.com . We are glad to address any questions you have regarding this information.
Step 1 – Get ready to purchase
There are several things you'll want to do before you start searching for a home.
When you start your search, you'll want to put together a check list of items you want, get an idea of what school districts you'd like to live in, and begin planning around your budget.
Keeping your mortgage payment less than 30 percent of your monthly income is a good rule to adhere to.
Step 2 – Get in touch with a real estate agent
This is where WE can help. We would love to set up a time to meet with you and speak with you about why you want to buy a home and get an idea of your upcoming plans.
We'll discuss neighborhoods, school districts in your preferred area, the mortgage and housing industries, and any other economic factors that could potentially affect your purchase today or in the future.
We will also help you facilitate the loan process. We work with some of Central Florida's best mortgage professionals, so you'll be in great hands.
They will assist you in figuring out which kind of loan is best for you and help you get approved.
Step 3 – Begin house-hunting
After our initial meeting, we will start finding available houses on the market that meet your needs. We'll research many of the houses and remove the duds, and then we'll book appointments to tour the houses whenever it's convenient for you.
As we tour the houses, we'll point out good features, as well as bad ones. We will even ask you what things you like and dislike.
It's common for buyers to amend their wish list as we tour houses and some items become more necessary than others.
If that's the case, we'll look through all the listings another time and narrow it down to the home you've been wishing for.
Step 4 – Get a grasp of the market
An agent's knowledge of the area housing market is a necessary aspect in your house search. And we can assure you we are informed of all the neighborhoods and schools; we can communicate what neighborhoods are "hot" and require immediate action and others that are "cool" and allow for thoughtful consideration.
When we tour houses, we'll be sure to tell you when the asking price has room for negotiation and also when we know the house is "priced to sell."
When working with an agent, be careful and make sure you ask a lot of questions. Every real estate agent in your preferred area will claim to know the home market. If it seems like they don't know everything, call me at 407-491-3816 or e-mail me at BarbaraFlaHomes@aol.com , and I'd be more than happy to answer any questions you have. My market knowledge will help you stay a step ahead through the entire deal.
Step 5 – Find your dream home
We know we'll find your dream house in the area you love. When that happens, we'll precisely develop your real estate purchase offer. The offer will be made to fit your needs and the home. We'll include several contingencies, such as getting financing, completing the home inspection, and a clear title.
When we turn in your offer, you will need to submit "earnest money." This is a cash deposit given to the home seller to secure an offer to buy the property. The amount is typically $3,000 to $5,000. If your offer is accepted, we should close about 30 to 60 days afterward. This allows plenty of time for your mortgage financing.
Step 6 – Negotiate
Most contracts don't close on the initial offer, and it's widely common to receive a counter offer. Don't let this alarm you. We'll talk over whether or not to accept the counter offer, propose our own counter offer, or reject the seller's offer and move on.
Market conditions determine how aggressively we negotiate the deal.
In addition, we'll work within your financing limits. And when it's all said and done, we'll assemble a contract that's best for you.
Step 7 – Get financing
Upon finalizing the deal, you'll start working with your mortgage lender to close the loan.
If you're already pre-qualified, this shouldn't take very long at all. However, you'll need to keep in close contact with your mortgage lender.
And we'll sort out all the property information your mortgage lender needs to close the loan.
Step 8 – Close the deal
Your lender will furnish you with a Loan Estimate (LE) outlining your closing costs within three days of taking your application. You'll get a Loan Estimate (LE) outlining closing costs from your mortgage lender within three days of accepting your loan application.
This estimate depends on the loan amount, and RESPA requirements mandate that it has to include all closing costs and be within a close range of accuracy. We'll study the estimate and let you know if everything looks okay.
Then it's time to close on your home. This will likely take place at a title company or escrow office and will probably be a smooth and relaxing occasion.
Step 9 – Move in
Congratulations! Now you can move into your new house. Enjoy it. And if you need anything, simply contact me at 407-491-3816 or e-mail me at BarbaraFlaHomes@aol.com.