Contemplating buying your home in Clearwater? Park Property Group can help.
With a little up-front planning, purchasing a home isn't all that confusing, but the event is stressful for many people.
I like to give buyers a road map of the entire deal so they'll understand exactly what they can expect.
These are my nine steps to buying a home.
If you have any questions regarding this information or if you're ready to get started, just contact me here or e-mail me at .
Step 1 – Prepare to buy
Before you commence your home search, there are several things you should contemplate.
When you begin your search, you'll want to assemble a list of features you need to have, get a plan of what neighborhoods and school districts you want to live in, and begin planning your budget.
Keeping your mortgage payment less than or around 30 percent of your net monthly income is a good principle to go by.
Step 2 – Contact a real estate agent
This is where Park Property Group comes in.
I'd be more than happy to schedule a time to meet with you and speak with you about your real estate needs and get an idea of your upcoming plans.
We'll discuss neighborhoods, school districts in the Clearwater area, the mortgage industry, and any other economic factors that may potentially affect your purchase today or in the future.
I can also help you begin the loan process.
There are some very good mortgage professionals in Clearwater, and I partner with a lot of them, so you'll be in great hands.
They'll 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, I'll begin finding available houses on the market that meet your needs.
I'll get a sneak peek of many of the houses and eliminate the bad ones, and then we'll schedule appointments to tour the houses whenever it'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 tell us about things you like and dislike.
It's pretty common for buyers to revise their list of must-haves as we view homes and some items become more crucial than others.
If that's the case, I'll search the listings one more time and trim it down to the home you've been wishing for.
Step 4 – Understand the market
My understanding of the Clearwater housing market is a leading factor in your home search. I am acquainted with all the school districts and neighborhoods, and I will let you know some districts are "hot" and require prompt action and the ones that are "cold" and allow for careful analysis.
When we tour homes, I'll make sure to communicate when the seller's asking price has room for bargaining and when I know the house is "priced to sell."
When working with an agent, be mindful and be sure to ask a lot of questions. Any real estate agent will tell you they truly know the housing market.
If things don't add up, call me at or e-mail me at , and I'd be more than happy to answer any questions you may have. My knowledge of the market will help you stay a step ahead throughout the entire deal.
Step 5 – Find the house you've been looking for
We'll find the home of your dreams in the Clearwater area, and when that happens, I'll meticulously develop your purchase offer. The offer will be made to fit your needs and the home. We'll include a lot of contingencies, such as acquiring financing, carrying out the inspection, and a clean title.
Upon sending in your offer, you'll want to submit "earnest money." This is a cash deposit given to a home seller to secure the offer to buy the property, and it's usually applied to the closing costs. If the seller accepts your offer, we should close on the home within 30 to 60 days after. This allows sufficient time for your mortgage financing.
Step 6 – Negotiate
Unfortunately most contracts aren't closed on the first offer. It's widely common to receive a counter offer. But don't let it alarm you. We'll discuss whether or not to accept the counter offer, propose our own counter offer, or decline the seller's offer and go on.
Market circumstances determine how aggressively we negotiate the contract.
We'll also work within your financing limits. And at the end of the day, we'll assemble a contract that works well for you.
Step 7 – Obtain a loan
Upon completion of the contract, you'll begin working with your mortgage lender to close the loan.
If you've been pre-approved, this shouldn't take much time at all, but you should to stay in close contact with your lender.
And I'll take care of all the property information your mortgage lender needs to close the loan.
Step 8 – Close the deal
Your mortgage lender will furnish you with a Loan Estimate (LE) of your closing costs within three days of getting your application. You'll get a Loan Estimate (LE) outlining closing costs from your lender within three days of accepting your loan application.
This estimate depends on the loan amount. RESPA requirements mandate that it has to contain all closing costs and fall within a precise range of accuracy, and I'll review the estimate and let you know if everything looks all right.
Then we'll close on your home. This will most likely take place at a title company or escrow office and will most likely be a smooth and comfortable affair.
Step 9 – Move in
Congratulations! Now you can move into your new house. Enjoy it. And if you have any questions, make sure you contact me at or e-mail me at .