With a little planning ahead of time, buying a home isn't very confusing, but the event is intimidating for a lot of people.
So you understand exactly what to expect, I like to provide my buyers with an outline of the entire deal.
Below are my nine steps to purchasing a home.
Step 1 – Get ready to purchase
Before you start your home search, there are many things you'll want to do.
When you start your search, you'll probably want to make a check list of items you need to have, plan for what neighborhoods and school districts you'd like to live in, and begin planning your budget.
Ensuring your mortgage payment is less than or close to 30 percent of your net monthly income is a good rule to adhere to.
Step 2 – Get in touch with a real estate agent in Longview
This is where RE/MAX Premier Group comes in.
I'd be happy to schedule a time to get together with you and communicate with you regarding 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 Longview area, the mortgage and housing industries, and any additional economic factors that could potentially affect your buying decision today or in the future.
In addition, I'll help you get started on your loan.
I partner with some of the finest mortgage professionals in Longview, so you can rest assured that you're in great hands.
They will help you determine which kind of loan is best for you, as well as help you get qualified.
Step 3 – Start looking
After our initial meeting, I'll start searching for available houses on the market that are a great fit for you.
I'll research most of the houses and reject the bad ones, and then we'll set up appointments to tour the houses when it's convenient for you.
As we tour the homes, I'll point out good features, as well as negative ones. And I'll ask you to talk about things you like and don't like.
Frequently, buyers update their wish list as we view homes and some things become far more necessary than others.
If such is the case, I'll search the listings once more and trim it down to the house you've been wishing for.
Step 4 – Know the market
An agent's awareness of the Longview housing market is an essential component in your home search. And I assure you I'm mindful of all the schools and neighborhoods, and I'll communicate certain neighborhoods are "hot" and call for prompt action and others that are "cool" and allow for thoughtful examination.
As we view homes, I'll let you know if the list price has room for negotiation or if I believe the home is "priced to sell."
Trust your instincts and be sure to ask your agent a lot of questions, as any REALTOR® in Longview will tell you they truly know the housing market.
If things don't add up, contact me at (360) 636-7378 or e-mail me at ejpucci@pacifier.com, and I'll be happy to answer your questions. My market expertise will help you stay a step above the rest throughout the entire process.
Step 5 – Find your dream house
I'm sure we'll find your dream home in Longview. When that happens, I'll precisely develop your purchase offer. The offer will be tailored keeping your needs in mind, including many contingencies, such as obtaining financing, finishing the home inspection, and a clear title.
Upon submitting your purchase offer, you'll probably need to present "earnest money." This is a cash deposit given to the seller to secure an offer to purchase the property and is typically applied to the cost of closing. If the offer is accepted, we should close on the property about 30 to 60 days after. This allows necessary time for your mortgage financing.
Step 6 – Negotiate
Unfortunately most contracts don't close on the beginning offer – it's very common to receive a counter offer. Don't let it intimidate you. We'll discuss whether or not to accept the counter offer, submit our own counter offer, or reject the seller's offer and go on.
Market circumstances determine how aggressively we negotiate the deal.
We'll also work within your financing limits. And at the end of the day, we'll create a contract that is best for you.
Step 7 – Secure a loan
Upon completing the deal, you'll start working with your mortgage lender to close the loan.
It shouldn't take long at all if you're pre-approved, but you need to keep in close contact with your lender.
And I'll manage all the property information your lender needs to close the loan.
Step 8 – Close the deal
You'll get a Good Faith Estimate (GFE) of closing costs from your lender within three days of taking your application.
This estimate depends on the loan amount, and RESPA requirements require that it has to include all closing costs and fall within a narrow range of accuracy. I'll review the estimate and let you know if everything looks okay.
Then it's time to close on your house. This will most likely occur at a title company or escrow office and will probably be a smooth and peaceful occurrence.
Step 9 – Move in
Congratulations! It's time to move into your new house. Enjoy it. And if you have any questions, just call me at (360) 636-7378 or send me an e-mail.
