Buying or selling a home?
Buying a home can be stressful for many people. However, with a bit of up-front planning, it isn't too complicated.
I like to give buyers an outline of the entire deal so they understand exactly what to expect.
Below are my nine steps to purchasing a home.
When you're ready to get started, you can contact me here or e-mail me at . I'm happy to address any questions you have regarding this information.
Step 1 – Get ready to buy
There are several things you need to do before you start searching for a home.
When you begin your search, you'll probably want to form an outline of must-haves, get an idea of what school districts and neighborhoods you'd like to live in, and begin planning your budget.
Ensuring your mortgage payment is less than or around 30 percent of your net monthly income is a good principle to adhere to.
Step 2 – Talk to a real estate agent
That's where I come in.
I'd like to arrange a time to get together with you and speak with you about why you want to buy a home and get an idea of your plans for the future.
We'll talk about neighborhoods, schools in the Naples area, the mortgage industry, and any additional economic factors that could potentially affect your purchase today or in the future.
In addition, I'll help you begin the loan process.
There are some very good mortgage professionals in Naples, and I partner with a lot of them, so you can rest assured that you're in great hands.
They will assist you with determining which type of loan is best for you and help you get qualified.
Step 3 – Begin house-hunting
After our initial meeting, I'll start finding available houses on the market that suit your needs.
I'll preview many of the homes and throw out the duds, and then we'll set up appointments to tour the houses when it's most convenient for you.
When we tour the houses, I'll show you the good features and bad ones. I'll even ask you about things you like and dislike.
It's pretty common for buyers to change their must-have list as we tour houses and some items become more substantial than others.
If that's the case, I'll look through all the listings another time and trim it down to the house of your dreams.
Step 4 – Know the housing market
An agent's understanding of the Naples housing market is a necessary aspect in your home search. And I assure you I'm informed of all the schools and neighborhoods, and I will alert you to what districts are "hot" and require prompt action and others that are "cold" and allow for more analysis.
When we view homes, I'll let you know when the seller's asking price has room for bargaining and when I know the house is "priced to sell."
When working with an agent, be on guard and make sure you ask plenty of questions. Any real estate agent in Naples will convince you they understand the market.
If it seems like they don't know everything, contact me at 866-300-1550 or e-mail me at , and I'll be more than happy to answer any questions you might have. My market expertise will help you stay a step ahead throughout the entire deal.
Step 5 – Find the home you've been waiting for
I'm confident we'll find your dream home in the Naples area. When we do, I'll thoroughly develop your home purchase offer. The offer will be tailored keeping your needs in mind and the home, including many contingencies, such as obtaining financing, carrying out the home inspection, and a clear title.
When we send in your purchase offer, you'll want to submit "earnest money." This is a cash deposit submitted to a seller to secure the offer to buy the property, and it's most often applied to the closing costs. If your offer is accepted by the seller, we should close about 30 to 60 days afterward. This allows plenty of time for your mortgage financing.
Step 6 – Negotiate
Unfortunately most contracts don't close on the initial offer – it's widely common to receive a counter offer. Don't let this intimidate you. We'll discuss whether or not to consent to the counter offer, submit our own counter offer, or decline the seller's offer and go on.
Market circumstances will play a large role in how aggressively we negotiate the deal.
In addition, we'll work within your financing budget. And at the end of the day, we'll create a deal that is best for you.
Step 7 – Obtain financing
Upon finishing the contract, you'll begin working with your mortgage lender to close the loan.
It won't take long at all if you're already pre-approved, but you should to stay in close contact with your lender.
And I'll manage all the property information your lender will need to close the loan.
Step 8 – Close the deal
Your lender will furnish you with a Loan Estimate (LE) outlining 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 rests on the loan amount. RESPA requirements order that it has to include all closing costs and be within a precise range of accuracy, and I'll go over the estimate and let you know if it all looks okay.
Then it's time to close on your home. This will likely happen at a title company or escrow office and will most often be a smooth and stress-free event.
Step 9 – Move in
Congratulations! Now you can move into your new house. Enjoy it. And if you need anything or have any questions, make sure you call me at 866-300-1550 or e-mail me at .