Buying or selling a home in Clearwater?
Purchasing a home intimidates a lot of people. However, with some up-front planning, it isn't all that confusing.
So they'll know exactly what to expect, I will provide buyers with an overview of the entire deal.
These are my nine steps to buying a home.
If you have any questions about any of this information or if you're prepared to get started, you can contact me here or e-mail me at .
Step 1 – Prepare to buy
Before you start looking for a home, there are several things you should consider.
When you begin your search, you'll want to form an outline of items you want, get an idea of what school districts and neighborhoods you'd like to live in, and start planning around your budget.
A good rule of thumb to go by is that your mortgage payment should be close to a third of your monthly income.
Step 2 – Speak with a real estate agent in Clearwater
This is where I can help.
I'd be happy to arrange 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 discuss the mortgage industry, other economic factors that could affect your buying decision today or in the future, as well as neighborhoods and school districts in the Clearwater area.
I'll also assist you in getting started on your loan.
Park Property Group partners with some of the best mortgage professionals in Clearwater, so you'll be in great hands.
They can assist you in deciding which type of loan is best for you and help you get approved.
Step 3 – Start house hunting
After our initial meeting, I'll begin searching for homes on the market that are good for you.
I'll preview most of the houses and exclude the bad ones, and then we'll schedule appointments to view the homes at a time that's convenient for you.
When we view the homes, I'll point out positive features and negative ones. I'll also ask you what things you like and don't like.
For the most part, buyers change their wish list as we tour houses and some things become more essential than others.
If that's the situation, I'll look through all the listings another time and narrow it down to the home you've been waiting for.
Step 4 – Understand the market
An agent's understanding of the Clearwater housing market is a leading factor in your home search. And I can assure you I'm familiar with all the neighborhoods and school districts, and I'll let you know some areas are "hot" and call for immediate action and others that are "cool" and allow for careful consideration.
When we view homes, I'll let you know when the asking price has room for negotiation and also when I know the home is "priced to sell."
When working with an agent, be on guard and make sure you ask a lot of questions, as any REALTOR in Clearwater will claim to comprehend the home market.
If things don't add up, call me at or e-mail me at , and I'd be happy to answer any questions you might have. My understanding of the market will keep you a step above the rest 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 Clearwater area. When that happens, I'll thoroughly develop your home purchase offer. The offer will be made to fit your needs and the home. We'll include some contingencies, such as getting financing, finishing the inspection, and a clean title.
When we present your 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. The amount is often put towards the cost of closing. If the seller accepts the offer, we should close on the property about 30 to 60 days afterward. This allows ample time for your mortgage financing.
Step 6 – Negotiate the deal
Unfortunately most contracts don't close on the initial offer – it's widely common to receive a counter offer. But don't let it discourage you. We'll consider whether or not to take the counter offer, propose our own counter offer, or refuse the seller's offer and move on.
Market circumstances will play a part in how aggressively we negotiate the contract.
In addition, we'll work within your budget. And at the end of the day, we'll assemble a contract that works well for you.
Step 7 – Get a loan
Once we sign the final sales contract, you'll start working with your lender to close the loan.
If you're pre-approved, it shouldn't be a long process at all, but you'll need to stay in close contact with your lender.
And I'll sort out 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) of closing costs from your lender within three days of taking your application.
This estimate is formed from the loan amount, and RESPA requirements order that it has to involve all closing costs and be within a tight range of accuracy. I'll review the estimate and let you know if it all looks permissible.
Then we'll close on your home. This will most often take place at a title company or escrow office and will probably be a smooth and comfortable occasion.
Step 9 – Move in
Congratulations! It's time to move into your new home. Enjoy it. And if you have any questions, just contact me at or e-mail me at .