Buying a new home in Gatesville?
Purchasing a home is a stressful event for many people. However, with some planning ahead of time, it isn't very confusing.
I like to provide buyers with an outline of the entire deal so they know exactly what they can expect.
Here are my nine steps to buying a home.
If you have questions about any of this information or if you're ready to get started, you can contact me here or e-mail me at .
Step 1 – Get ready to buy a home
Before you start searching for a home, there are a lot of things you should consider.
You'll probably want to make an index of features you need to have, get a plan of what neighborhoods you'd like to live in, and start working on your budget.
Ensuring your mortgage payment is less than or around a third of your monthly income is a good principle to adhere to.
Step 2 – Get in touch with a real estate agent
That's where I come in.
I'd be more than happy to schedule a time to get together with you and communicate with you about your real estate needs and get an idea of your future plans.
We'll discuss everything from neighborhoods, school districts in the Gatesville area, the mortgage industry, to any other economic factors that may potentially affect your purchase today or in the future.
In addition, I'll help you facilitate the loan process.
Kristi's Properties works with some of Gatesville's best mortgage professionals, so you're in great hands.
They can help you determine which kind of loan is best for you, as well as help you get approved.
Step 3 – Start looking
Following our first meeting, I'll start looking for homes on the market that suit your needs.
I'll research many of the houses and remove the duds, and then we'll set up appointments to view the houses when it's most convenient for you.
As we view houses, I'll call attention to good features, as well as negative ones. I'll also ask you about things you like and dislike.
It's common for buyers to amend their list of must-haves as we tour homes and some things become far more crucial than others.
If such is the case, I'll search the listings once again and trim it down to the home you've been dreaming about.
Step 4 – Know the market
My knowledge of the Gatesville housing market is a crucial factor in your home search. I'm mindful of all the neighborhoods and schools, and I can alert you to certain districts are "hot" and require prompt action and others that are "cold" and allow for thoughtful analysis.
As we view houses, I'll let you know when the seller's asking price has room for bargaining and when I know the home is "priced to sell."
Be on guard and be sure to ask your agent a lot of questions, as any REALTOR will claim to understand the market.
If it seems like they don't know everything, call me at 254-248-1212 or e-mail me at , and I'll be more than happy to answer any questions you might have. My market expertise will keep you a step above the rest throughout the entire process.
Step 5 – Find the home you've been waiting for
We'll find your dream house in Gatesville, and when that happens, I'll meticulously develop your purchase offer. The offer will be tailored exactly to your needs and the home, including some contingencies. A few examples are getting financing, completing the home inspection, and a clear title.
When submitting your offer, you'll likely need to submit "earnest money." This is a cash deposit submitted to a seller to secure the offer to purchase the property and is often put towards the closing costs. If your offer is accepted by the seller, we should close on the home within 30 to 60 days afterward. This allows sufficient time for your mortgage financing.
Step 6 – Negotiate the deal
Most deals aren't closed on the first offer. It's widely common to receive a counter offer. Don't let this discourage you. We'll discuss whether or not to take the counter offer, submit our own counter offer, or refuse the seller's offer and move on.
Market circumstances will play a large role in how aggressively we negotiate the deal.
We'll also work within your financing constraints. And when it's all said and done, we'll compose a deal that's best for you.
Step 7 – Obtain a loan
Once we sign the final contract, you'll begin working with your mortgage lender to close the loan.
If you're already pre-approved, this shouldn't take much time at all, but you'll need to keep in close contact with your mortgage lender.
And I'll manage all the property information your mortgage lender needs to close the loan.
Step 8 – Close the deal
Your lender will supply you with a Loan Estimate (LE) of your closing costs within three days of receiving your loan application. You'll get a Loan Estimate (LE) outlining closing costs from your mortgage lender within three days of getting your loan application.
The estimate depends on the loan amount, and RESPA requirements mandate that it has to include all closing costs and be within a precise range of accuracy. I'll analyze the estimate and let you know if everything looks good.
Then it's time to close on your house. This should occur at a title company or escrow office and will probably be a smooth and comfortable affair.
Step 9 – Move in
Congratulations! It's time to move into your new house. Enjoy it. And if you have any questions, make sure you contact me at 254-248-1212 or e-mail me at .