Are you contemplating buying your new home in Clearwater?
Purchasing a home is an intimidating event for many people. However, with some planning ahead of time, it isn't all that difficult.
So they'll understand exactly what they can expect, I'll give buyers an outline of the whole deal.
These are my nine steps to buying a home.
Should you have any questions regarding any of this information or if you're ready to get started, you can contact me here or e-mail me at .
Step 1 – Get ready to buy a home
There are a lot of things you should consider before beginning your home search.
It's likely that you'll want to assemble a list of items you need to have, get a feeling for what neighborhoods and school districts you'd like to live in, and begin planning around your budget.
Keeping your mortgage payment less than or around 30 percent of your net monthly income is a good guideline to go by.
Step 2 – Connect with a real estate agent
This is where Park Property Group can help.
We'll arrange a time to meet so we can talk about your real estate needs and get an idea of your plans for the future.
We'll talk about the mortgage industry, other economic factors that could affect your purchase today or in the future, as well as neighborhoods and schools in the Clearwater area.
In addition, I'll help you begin the loan process.
There are some very good mortgage professionals in Clearwater, 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 approved.
Step 3 – Begin your search
After our first meeting, I'll begin finding available houses on the market that are a good fit for you.
I'll get a sneak peek of many of the houses and remove the duds, and then we'll set up appointments to view the homes at a time that's convenient for you.
As we tour the homes, I'll show you the good features and bad ones. I'll even ask you to point out what things you like and don't like.
It's pretty common for buyers to revise their wish list as we tour homes and some features become more important than others.
If that's the situation, I'll go back through all the listings again and trim it down to the home you've been dreaming about.
Step 4 – Comprehend the market
Your agent's understanding of the Clearwater housing market is a leading factor in your house search. And I assure you I'm informed of all the neighborhoods and school districts, and I can alert you to certain neighborhoods are "hot" and call for immediate action and others that are "cold" and allow for thoughtful examination.
As we view houses, I'll make sure to communicate when the seller's asking price has room for negotiation and when I think the home is "priced to sell."
Any real estate agent will claim to truly know the home market, but trust your instincts, and be sure to ask your agent a lot of questions.
If things don't add up, just call me at or e-mail me at , and I'd be happy to answer any questions you have. My understanding of the market will help you stay a step above the rest throughout the entire deal.
Step 5 – Find the home you've been looking for
I'm certain we'll find your dream home in Clearwater. When that happens, I'll carefully develop your real estate purchase offer. The offer will be tailored exactly to your needs and the home, including several contingencies, such as getting financing, finishing the inspection, and a clean title.
When sending in your purchase offer, you'll want to present "earnest money." This is a cash deposit submitted to the seller to secure the offer to buy the property, and it's typically applied to the cost of closing. If the seller accepts your offer, we should close on the property about 30 to 60 days after. This allows sufficient time for your mortgage financing.
Step 6 – Negotiate the deal
Most deals aren't closed on the beginning offer – it's extremely common to receive a counter offer. Don't let it discourage you. We'll consider whether or not to agree to the counter offer, present our own counter offer, or refuse the seller's offer and move on.
Market conditions will play a vital role in how aggressively we negotiate the deal.
In addition, we'll work within your financing limits. And at the end of the day, we'll formulate a contract that's best for you.
Step 7 – Obtain financing
After we sign the final sales contract, you'll begin working with your lender to close the loan.
It shouldn't take very long at all if you're pre-qualified, but you'll want to stay in close contact with your lender.
And I'll look after all the property information your mortgage lender will need to close the loan.
Step 8 – Close the deal
You'll get a Loan Estimate (LE) outlining closing costs from your lender within three days of taking your application.
This estimate is formed from the loan amount. RESPA requirements order that it has to include all closing costs and fall within a close range of accuracy, and I'll go over the estimate and let you know if it all looks all right.
Then it's time to close on your house. This will probably happen at a title company or escrow office and should 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, just contact me at or e-mail me at .