Are you buying a new home in Clearwater? Park Property Group can help.
For most people, buying a home is a stressful event. However, with a bit of up-front planning, it isn't too confusing.
I like to provide buyers with an outline of the whole deal so they'll understand exactly what they can expect.
These are my nine steps to purchasing a home.
When you're ready to get started, just contact me here or e-mail me at . I'm happy to address questions you have regarding this information.
Step 1 – Prepare to buy
Prior to beginning your home search, there are a lot of things you should take into account.
When you begin your search, you'll want to put together an outline of items you want, plan for what neighborhoods 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 adhere to.
Step 2 – Connect with a real estate agent in Clearwater
This is where Park Property Group can help.
We'll arrange a time to meet so we can talk about why you want to buy a home and get an idea of your plans for the future.
We'll talk about the mortgage and housing industries, other economic factors that may potentially affect your buying decision today or in the future, as well as neighborhoods and school districts in the Clearwater area.
I'll also help you facilitate the loan process.
There are some excellent mortgage professionals in Clearwater, and I partner with a lot of them, so you're in great hands.
They can help you choose which kind of loan is best for you, as well as help you get qualified.
Step 3 – Start looking for a home
After our first meeting, I'll start finding available houses on the market that are a good fit for you.
I'll get a sneak peek of most of the homes and exclude the duds, and then we'll set up appointments to tour the houses whenever it's most convenient for you.
When we view homes, I'll point out good features, as well as negative ones. I'll also ask you to tell us about things you like and dislike.
Generally, buyers amend their wish list as we view houses and some things become more necessary than others.
If that's the case, I'll go back through all the listings another time and narrow it down to the home you've been wishing for.
Step 4 – Know the housing market
An agent's understanding of the Clearwater home market is a fundamental component in your home search. And I assure you I'm mindful of all the school districts and neighborhoods, and I will let you know what neighborhoods are "hot" and call for prompt action and the ones that are "cold" and allow for thoughtful analysis.
When we tour houses, I'll make sure to communicate if the seller's asking price has room for negotiation or if I believe the house is "priced to sell."
When working with an agent, be on guard and be sure to ask a lot of questions, as any REALTOR in Clearwater will claim to comprehend the home market.
If things don't add up, contact me at or e-mail me at , and I'll be glad to answer any questions you may have. My market expertise will keep you a step ahead through the entire process.
Step 5 – Find your dream house
We'll find the home of your dreams in the Clearwater area, and when that happens, I'll thoroughly develop your home purchase offer. The offer will be tailored exactly to your needs and the home, including many contingencies, such as getting financing, completing the home inspection, and a clear title.
When we submit your purchase offer, you'll likely want to present "earnest money." This is a cash deposit made to a home seller to secure an offer to buy the property, and it's typically put towards the closing costs. If the offer is accepted by the seller, we should close on the home within 30 to 60 days afterward. This allows ample time for your mortgage financing.
Step 6 – Negotiate the deal
Unfortunately most deals don't close on the initial offer. It's very common to receive a counter offer. But don't let it discourage you. We'll talk over whether or not to consent to the counter offer, propose our own counter offer, or reject the seller's offer and go on.
How aggressively we negotiate the deal depends on market conditions.
In addition, we'll work within your financing limits. And at the end of the day, we'll formulate a deal that works well for you.
Step 7 – Get a loan
Once the deal is finished, you'll start working with your lender to close the loan.
If you've been pre-approved, it shouldn't take long at all. But you'll want to stay in close contact with your mortgage lender.
And I'll look after all the property information your lender will need to close the loan.
Step 8 – Close the deal
You'll get a Loan Estimate (LE) of closing costs from your mortgage lender within three days of receiving your application.
The estimate depends on the loan amount, and RESPA requirements mandate that it has to include all closing costs and be within a narrow range of accuracy. I'll analyze the estimate and let you know if it all looks okay.
Then it's time to close on your home. This should happen at a title company or escrow office and should be a smooth and pleasant occurrence.
Step 9 – Move in
Congratulations! Now you can move into your new house. Enjoy it. And if you need anything or have any questions, just contact me at or e-mail me at .