Are you contemplating buying your home in Plymouth? Sally King / OPTIONS 153 Real Estate can help.With some planning ahead of time, buying a home isn't very confusing, but the event is stressful for many people. I like to provide buyers with an overview of the entire deal so they'll know exactly what to expect. Here are my nine steps to purchasing a home.
|Should you have any questions regarding this information or if you're ready to get started, you can contact me here or e-mail me at email@example.com.|
Step 1 – Prepare to purchase
There are several things you need to consider prior to commencing your home search. When you start your search, you'll probably want to make an index of must-have features, get an idea of what neighborhoods you'd like to live in, and start planning your budget. Ensuring your mortgage payment is less than a third of your net monthly income is a good rule of thumb to follow.
Step 2 – Contact a real estate agent
This is where Sally King / OPTIONS 153 Real Estate can help. I'd be happy to book a time to meet with you and talk about why you want to buy a home and get an idea of your plans for the future. We'll talk about everything from neighborhoods, schools in the Plymouth area, the mortgage industry, to any other economic factors that may affect your purchase today or in the future.
In addition, I'll help you begin the loan process. I partner with some of Plymouth's best mortgage professionals, so you can rest assured that you're in great hands. They will help you figure out which type of loan is best for you, as well as help you get approved.
Step 3 – Start your home search
After our first meeting, I'll start looking for available homes on the market that best suit you. I'll research many of the houses and eliminate the bad ones, and then we'll book appointments to tour the houses when it's most convenient for you.
As we tour the homes, I'll identify good features, as well as bad ones. I'll also ask you about things you like and don't like. It's pretty common for buyers to revise their wish list as we tour houses and some features become far more crucial than others. If such is the case, I'll search all the listings once more and trim it down to the house you've been waiting for.
Step 4 – Get a feel for the housing market
My understanding of the Plymouth market is a valuable benefit in your search. I'm conscious of all the school districts and neighborhoods, and I'll communicate which areas are "hot" and warrant prompt action and the ones that are "cool" and allow for more analysis.
When we tour homes, I'll be sure to tell you if the seller's asking price has room for bargaining or if I believe the home is "priced to sell."
Be on guard and make sure you ask your agent a lot of questions, as every REALTOR® in Plymouth will claim to truly understand the housing market.
If things don't add up, call me at (508) 747-3153 or e-mail me at firstname.lastname@example.org, and I'd be happy to answer any questions you have. My market expertise 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 the house of your dreams in the Plymouth area. When that happens, I'll precisely develop your home purchase offer. The offer will be tailored with your needs in mind, including many contingencies. A few examples are getting financing, finishing the home inspection, and a clear title.
Upon submitting your purchase offer, you'll need to present "earnest money." This is a cash deposit made to a seller to secure an offer to buy the property and is most often applied to the cost of closing. If your offer is accepted, we should close on the home about 30 to 60 days afterward. This allows plenty of time for your mortgage financing.
Step 6 – Negotiate
A lot of contracts aren't closed on the initial offer – it's really common to receive a counter offer. But don't let this discourage you. We'll talk about whether or not to take the counter offer, propose our own counter offer, or refuse the seller's offer and go on.
Market conditions determine how aggressively we negotiate the deal. We'll also work within your financing constraints. And when it's all said and done, we'll assemble a deal that's best for you.
Step 7 – Get a loan
Once the deal is finalized, you'll start working with your mortgage lender to close the loan. This shouldn't take very long at all if you're pre-qualified, but you need to stay in close contact with your lender. And I'll manage all the property information your lender needs to close the loan.
Step 8 – Close the deal
You'll get a Good Faith Estimate (GFE) detailing closing costs from your mortgage lender within three days of getting your application. The estimate rests on the loan amount, and RESPA requirements order that it has to involve all closing costs and be within a narrow range of accuracy. I'll examine the estimate and let you know if it all looks okay.
Then it's time to close on your house. This should occur at a title company or escrow office and will most often be a smooth and peaceful affair.
Step 9 – Move in
Congratulations! It's time to move into your new home. Enjoy it. And if you have any questions, make sure you contact me at (508) 747-3153 or send me an e-mail.