Buying your home in Arcadia?
Purchasing a home intimidates a lot of people. However, with a bit of planning ahead of time, it's not too complicated.
So they understand exactly what they can expect, I like to furnish buyers with an overview of the whole deal.
Here are my nine steps to purchasing a home.
Should you have any questions about this information or if you're ready to get started, just contact me here or e-mail me at .
Step 1 – Get ready to buy a home
There are plenty of things you should consider before you search for a home.
It's likely that you'll want to make a list of items you need to have, get a plan of what school districts and neighborhoods you'd like to live in, and start planning around your budget.
Keeping your mortgage payment around 30 percent of your monthly income is a good rule to adhere to.
Step 2 – Contact a real estate agent
This is where The Williamson Group Realty, Inc. can help.
I'd be happy to plan a time to meet with you and communicate with you about why you want to buy a home and get an idea of your plans for the future.
We'll discuss neighborhoods, school districts in the Arcadia area, the mortgage industry, and any other economic factors that may affect your buying decision today or in the future.
I can also assist you with getting started on your loan.
There are some very good mortgage professionals in Arcadia, and I work with a lot of them, so you'll be in great hands.
They'll help you determine which kind of loan is best for you, as well as help you get qualified.
Step 3 – Begin house hunting
Following our initial meeting, I'll begin finding available homes on the market that are a great fit for you.
I'll research most of the houses and ignore the bad ones, and then we'll schedule appointments to tour the homes at a time that's convenient for you.
As we view the houses, I'll point out good features and bad ones. I'll also ask you about things you like and don't like.
It's widely common for buyers to amend their list of must-haves as we view homes and some things become far more important than others.
If that's the case, I'll search the listings again and narrow it down to the home of your dreams.
Step 4 – Know the housing market
An agent's knowledge of the Arcadia home market is an imperative agent in your home search. And I assure you I'm informed of all the schools and neighborhoods, and I can let you know what districts are "hot" and require immediate action and some that are "cool" and allow for thoughtful examination.
When we tour homes, I'll let you know if the asking price has room for negotiation or if I believe the home is "priced to sell."
Trust your instincts and make sure you ask a lot of questions, as any real estate agent will claim to truly know the market.
If it seems like they don't know everything, just call me at 863-494-9009 or e-mail me at , and I'd be more than happy to answer your questions. My market knowledge will help you stay a step ahead through the entire process.
Step 5 – Find the home of your dreams
We'll find the home of your dreams in the Arcadia area, and when that happens, I'll meticulously create your home purchase offer. The offer will be made to fit your needs and the home. We'll include several contingencies, such as getting financing, completing the inspection, and a clear title.
Upon submitting your offer, most likely you'll want to present "earnest money." This is a cash deposit submitted to a seller to secure the offer to buy the property and is usually applied to the cost of closing. If your offer is accepted, we should close on the home within 30 to 60 days afterward. This allows enough time for your mortgage financing.
Step 6 – Negotiate
A lot of contracts don't close on the initial offer, and it's really common to receive a counter offer. Don't let this alarm you. We'll talk over whether or not to consent to the counter offer, propose our own counter offer, or refuse the seller's offer and move on.
Market conditions will play a vital role in how aggressively we negotiate the deal.
We'll also work within your financing constraints. And at the end of the day, we'll formulate a deal that's best for you.
Step 7 – Obtain financing
Once the deal is finished, you'll begin working with your mortgage lender to close the loan.
If you're already pre-approved, it won't be a long process at all, but you need to keep in close contact with your mortgage lender.
And I'll deal with all the property information your lender will need to close the loan.
Step 8 – Close the deal
Your lender will provide you with a Loan Estimate (LE) of closing costs within three days of getting your loan application. You'll get a Loan Estimate (LE) detailing your closing costs from your mortgage lender within three days of taking your application.
The estimate depends on the loan amount, and RESPA requirements order that it has to contain all closing costs and fall within a tight range of accuracy. I'll examine the estimate and let you know if everything looks okay.
Then it's time to close on your home. This will probably happen at a title company or escrow office and will most often be a smooth and relaxed 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 call me at 863-494-9009 or e-mail me at .