With a little up-front planning, buying a home isn't that complex, but the event can be stressful for a lot of people.
I like to supply buyers with an outline of the whole deal so they know exactly what they can expect.
These 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 LeAnne@LeAnneQuimby.com. I'm glad to address any questions you have regarding this information.
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Step 1 – Get ready to buy
There are several things you need to consider prior to beginning your home search.
When you begin your search, you'll want to create a list of items you need to have, get a feel for what school districts you'd like to live in, and begin planning around your budget.
Keeping your mortgage payment less than or around 1/3 of your monthly income is a good rule to go by.
Step 2 – Talk to a real estate agent in Gilbert
That's where I can help.
I'd like to book a time to meet with you and speak with you regarding your real estate needs and get an idea of your upcoming plans.
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 school districts in the Gilbert area.
I can also assist you in getting started on your loan.
I work with some of Gilbert's finest mortgage professionals, so you can rest assured that you're in great hands.
They'll assist you in figuring out which type of loan is best for you and help you get approved.
Step 3 – Start looking for a home
After our first meeting, I'll start finding homes on the market that suit your needs.
I'll preview most of the houses and remove the bad ones, and then we'll set up appointments to view the houses at a time that's convenient for you.
As we view homes, I'll call attention to positive features and negative ones. I'll even ask you to tell us about things you like and don't like.
Oftentimes, buyers change their must-have list as we view houses and some things become more substantial than others.
If that's the situation, I'll search the listings again and trim it down to the home you've been dreaming about.
Step 4 – Get a feel for the market
My understanding of the Gilbert market is a valuable benefit in your search. I am conscious of all the schools and neighborhoods, and I can communicate some districts are "hot" and warrant immediate action and others that are "cold" and allow for cautiousness.
As we view houses, I'll let you know if the asking price has room for bargaining or if I believe the home is "priced to sell."
Every real estate agent in Gilbert will convince you they truly know the housing market, but beware, and make sure you ask a lot of questions.
If it appears they don't know everything, contact me at 4805103341 or e-mail me at LeAnne@LeAnneQuimby.com, and I'd be happy to answer any questions you might have. My knowledge of the market will keep you a step above the rest through the entire deal.
Step 5 – Find the home you've been waiting for
We'll find your dream house in Gilbert, and when that happens, I'll carefully create your real estate purchase offer. The offer will be written with your needs in mind. Whenever necessary, I never forget to make contracts contingent upon items like acquiring financing and the results of the home inspection.
When turning in your purchase offer, you'll need to present "earnest money." This is a cash deposit submitted to the home seller to secure the offer to purchase the property, and it's usually put towards the closing costs. If the seller accepts your offer, we should close on the home within 30 to 60 days afterward. This allows sufficient time for your mortgage financing.
Step 6 – Negotiate
A lot of deals don't close on the first offer, and it's really common to receive a counter offer. But don't let this discourage you. We'll talk about whether or not to agree 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 circumstances.
In addition, we'll work within your financing budget. And at the end of the day, we'll assemble a deal that's best for you.
Step 7 – Get a loan
After we sign the final deal, you'll begin working with your mortgage lender to close the loan.
If you're already pre-qualified, it shouldn't take very long at all, but you need to keep in close contact with your lender.
And I'll handle all the property information your lender will need to close the loan.
Step 8 – Close the deal
You'll get a Good Faith Estimate (GFE) of your closing costs from your mortgage lender within three days of taking your loan application.
This estimate rests on the loan amount, and RESPA requirements dictate that it has to include all closing costs and be within a tight range of accuracy. I'll go over the estimate and let you know if everything looks good.
Then we'll close on your home. This will most likely take place at a title company or escrow office and should be a smooth and calm occurrence.
Step 9 – Move in
You made it! Now you can move into your new home. Enjoy it. And if you have any questions, simply call me at 4805103341 or send me an e-mail.
