Purchasing a home intimidates most people. However, with a bit of planning ahead of time, it's not that complex.
So you understand exactly what to expect, I like to give my buyers a road map of the entire deal.
Here are my nine steps to buying a home.
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When you're ready to get started, just contact me here or send e-mail to erock2327@aol.com. I'm glad to answer any questions you have regarding this information.
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Step 1 – Get ready to buy
There are many things you should take into account before you start searching for a home.
When you begin your search, you'll probably want to create an index of features you want, get a feeling for what school districts and neighborhoods you'd like to live in, and start working on your budget.
Keeping your mortgage payment less than or around 1/3 of your net monthly income is a good rule to follow.
Step 2 – Communicate with a real estate agent
This is where I can help.
I'd be more than happy to arrange a time to meet with you and communicate with you regarding why you want to buy a home and get an idea of your future plans.
We'll discuss everything from neighborhoods, school districts in the Clarksville area, the mortgage and housing industries, to any other economic factors that may potentially affect your purchase today or in the future.
In addition, I'll assist you with getting started on your loan.
There are some very good mortgage professionals in Clarksville, and I partner with a lot of them, so you're in great hands.
They'll assist you with deciding which type of loan is best for you and help you get approved.
Step 3 – Begin looking for a house
After we meet, I'll start finding houses on the market that are a good fit for you.
I'll research most of the homes and exclude the duds, and then we'll schedule appointments to view the houses when it's convenient for you.
When we view houses, I'll show you the positive features and bad ones. And I'll ask you to talk about things you like and dislike.
It's pretty common for buyers to amend their must-have list as we tour houses and some things become far more substantial than others.
If such is the case, I'll go back through the listings one more time and trim it down to the house you've been wishing for.
Step 4 – Get a feel for the market
Your agent's understanding of the Clarksville housing market is a fundamental aspect in your home search. And I can assure you I'm informed of all the neighborhoods and school districts, and I can communicate which neighborhoods are "hot" and require prompt action and some that are "cold" and allow for more examination.
When we view homes, I'll make sure to communicate if the asking price has room for bargaining or if I believe the home is "priced to sell."
Every real estate agent in Clarksville will convince you they truly know the market, but take note, and be sure to ask your agent a lot of questions.
If things don't add up, contact me at 931-245-2050 or e-mail me at erock2327@aol.com, and I'd be glad to answer your questions. My market knowledge will help you stay a step above the rest through the entire process.
Step 5 – Find the house you've been looking for
I'm confident we'll find the home of your dreams in the Clarksville area, and when we do, I'll precisely develop your real estate purchase offer. The offer will be written keeping your needs in mind. Whenever necessary, I never forget to make contracts contingent upon items like obtaining financing and the results of the home inspection.
When turning in your purchase offer, you'll likely need to present "earnest money." This is a cash deposit made to the seller to secure the offer to buy the property, and it's usually applied to the closing costs. If the seller accepts the offer, we should close on the property within 30 to 60 days afterward. This allows ample time for your mortgage financing.
Step 6 – Negotiate
Most deals aren't closed on the first offer. It's pretty common to receive a counter offer. But don't let this intimidate you. We'll figure out whether or not to take the counter offer, submit our own counter offer, or refuse the seller's offer and go on.
How aggressively we negotiate the deal depends on market circumstances.
We'll also work within your budget. And when it's all said and done, we'll formulate a contract that's best for you.
Step 7 – Obtain your loan
Upon completing the deal, you'll start working with your lender to close the loan.
This won't take very long at all if you're already pre-approved, but you'll need to stay in close contact with your lender.
And I'll deal with all the property information your lender needs to close the loan.
Step 8 – Close the deal
Your lender will furnish you with a Good Faith Estimate (GFE) detailing your closing costs within three days of taking your loan application. You'll get a Good Faith Estimate (GFE) outlining closing costs from your lender within three days of taking your application.
The estimate rests on the loan amount. RESPA requirements dictate that it has to contain all closing costs and fall within a precise range of accuracy, and I'll study the estimate and let you know if it all looks all right.
Then it's time to close on your home. This should happen at a title company or escrow office and will probably be a smooth and hassle-free occurrence.
Step 9 – Move in
Congratulations! Now you can move into your new house. Enjoy it. And if you need anything, just call me at 931-245-2050 or send me an e-mail.
