Are you contemplating purchasing your new home in Naples?
With a little up-front planning, purchasing a home isn't that complex, but the event intimidates many people.
I like to supply buyers with a road map of the entire deal so they know exactly what to expect.
These are my nine steps to purchasing a home.
When you're ready to get started, simply contact me here or e-mail me at . I'm happy to address any questions you have regarding this information.
Step 1 – Prepare to buy
There are a lot of things you'll want to do prior to commencing your home search.
You'll most likely want to make an outline of items you want to have, plan for what neighborhoods and school districts you want to live in, and begin working on your budget.
Keeping your mortgage payment less than 30 percent of your monthly income is a good rule to go by.
Step 2 – Connect with a real estate agent in Naples
That's where I come in.
I'd be 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 talk about the mortgage and housing industries, other economic factors that could affect your purchase today or in the future, as well as neighborhoods and school districts in the Naples area.
I can also assist you with getting started on your loan.
There are some very good mortgage professionals in Naples, and I work with a lot of them, so you're in great hands.
They will help you choose which type of loan is best for you, as well as help you get qualified.
Step 3 – Begin your search
After our first meeting, I'll start searching for available homes on the market that are great for you.
I'll get a sneak peek of most of the homes and reject the duds, and then we'll book appointments to view the homes when it's convenient for you.
When we view homes, I'll call attention to good features and negative ones. I'll also ask you to talk about things you like and dislike.
Usually, buyers update their must-have list as we view houses and some features become far more important than others.
If that's the situation, I'll look through all the listings once again and trim it down to the home you've been wishing for.
Step 4 – Understand the housing market
Your agent's awareness of the Naples market is an essential agent in your home search. And I assure you I'm acquainted with all the school districts and neighborhoods, and I'll let you know some areas are "hot" and demand immediate action and others that are "cool" and allow for careful examination.
When we view homes, I'll make sure to communicate if the seller's list price has room for negotiation or if I believe the home is "priced to sell."
When working with an agent, be mindful and be sure to ask a lot of questions, as every real estate agent in Naples will claim to understand the market.
If it appears they don't know everything, call me at 866-300-1550 or e-mail me at , and I'll be glad to answer any questions you have. My understanding of the market will help you stay a step above the rest throughout the entire deal.
Step 5 – Find the home you've been looking for
We'll find the house of your dreams in Naples, and when we do, I'll thoroughly create your purchase offer. The offer will be tailored with your needs in mind and the home, including many contingencies. A few examples are getting financing, finishing the inspection, and a clear title.
When presenting your purchase offer, you'll want to submit "earnest money." This is a cash deposit made to a seller to secure an offer to buy the property. The amount is usually applied to the cost of closing. If the seller accepts the offer, we should close on the property within 30 to 60 days after. This allows plenty of time for your mortgage financing.
Step 6 – Negotiate the deal
Unfortunately most deals don't close on the beginning offer. It's really common to receive a counter offer. Don't let it discourage you. We'll consider whether or not to take the counter offer, present our own counter offer, or reject the seller's offer and move 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 formulate a contract that works well for you.
Step 7 – Obtain financing
Upon finalizing the contract, you'll start working with your lender to close the loan.
If you're pre-qualified, this won't take very long at all. But you'll want to keep in close contact with your lender.
And I'll handle all the property information your mortgage lender will need to close the loan.
Step 8 – Close the deal
Your mortgage lender will provide you with a Loan Estimate (LE) outlining your closing costs within three days of receiving your loan application. You'll get a Loan Estimate (LE) detailing your closing costs from your mortgage lender within three days of getting your loan application.
The estimate is formed from the loan amount, and RESPA requirements dictate that it has to contain all closing costs and fall within a strict range of accuracy. I'll examine the estimate and let you know if it all looks okay.
Then we'll close on your home. This will likely happen at a title company or escrow office and will most often be a smooth and pleasant affair.
Step 9 – Move in
Congratulations! Now you can move into your new home. Enjoy it. And if you have any questions, simply contact me at 866-300-1550 or e-mail me at .