Buying or selling a home? Shannon Wade Henley can help.
Buying a home is an intimidating event for most people, but with a bit of planning ahead of time, it isn't too complex.
I like to supply buyers with an outline of the whole deal so they understand exactly what they can expect.
Here are my nine steps to buying a home.
If you have any questions regarding 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
Before you begin your home search, there are several things you need to do.
When you begin your search, you'll probably want to create an outline of features you need to have, get an idea of what neighborhoods and school districts you'd like to live in, and begin planning around your budget.
A good rule to go by is that your mortgage payment should be less than 1/3 of your monthly income.
Step 2 – Connect with a real estate agent
This is where Shannon Wade Henley comes in.
We'll arrange a time to get together so we can talk about why you want to buy a home and get an idea of your plans for the future.
We'll discuss the mortgage and housing industries, other economic factors that might affect your purchase today or in the future, as well as neighborhoods and schools in the Mary Esther area.
I can also help you start the loan process.
Shannon Wade Henley partners with some of the best mortgage professionals in Mary Esther, so you'll be in great hands.
They'll help you choose which type of loan is best for you, as well as help you get qualified.
Step 3 – Begin your search
After we meet, I'll begin finding available homes on the market that are good for you.
I'll preview most of the houses and ignore the bad ones, and then we'll set up appointments to tour the houses when it's most convenient for you.
As we tour the houses, I'll identify positive features, as well as negative ones. I'll also ask you what things you like and dislike.
It's widely common for buyers to amend their wish list as we tour homes and some items become far more crucial than others.
If that happens, I'll search all the listings again and trim it down to the home of your dreams.
Step 4 – Understand the market
An agent's awareness of the Mary Esther market is an imperative component in your house search. And I can assure you I'm informed of all the school districts and neighborhoods, and I will communicate some districts are "hot" and call for immediate action and the ones that are "cool" and allow for careful consideration.
When we tour houses, I'll let you know when the seller's list price has room for bargaining and also when I trust the house is "priced to sell."
When working with an agent, be careful and make sure you ask plenty of questions, as any real estate agent will tell you they comprehend the market.
If things don't add up, contact me at 850-217-4530 or e-mail me at , and I'd be happy to answer any questions you may have. My market knowledge will keep you a step above the rest through the entire deal.
Step 5 – Find your dream home
I'm positive we'll find your dream house in the Mary Esther area. When that happens, I'll thoroughly develop your home purchase offer. The offer will be made to suit your needs and the home. We'll include some contingencies, such as obtaining financing, finishing the inspection, and a clear title.
When turning in your offer, you'll need to submit "earnest money." This is a cash deposit made to the home seller to secure the offer to purchase the property and is often applied to the closing costs. If your 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
A lot of deals aren't closed on the first offer. It's widely common to receive a counter offer. But don't let this intimidate you. We'll figure out whether or not to consent to the counter offer, present our own counter offer, or refuse the seller's offer and move on.
How aggressively we negotiate the deal depends on market conditions.
We'll also work within your budget. And when it's all said and done, we'll assemble a contract that works well for you.
Step 7 – Obtain a loan
Upon finalizing the contract, you'll begin working with your mortgage lender to close the loan.
This shouldn't take long at all if you're pre-approved, but you'll need to keep in close contact with your mortgage lender.
And I'll manage all the property information your lender will need to close the loan.
Step 8 – Close the deal
Your mortgage lender will give you a Loan Estimate (LE) outlining closing costs within three days of receiving your loan application. You'll get a Loan Estimate (LE) detailing closing costs from your mortgage lender within three days of getting your loan application.
The estimate depends on the loan amount, and RESPA requirements require that it has to contain all closing costs and fall within a narrow range of accuracy. I'll study the estimate and let you know if everything looks adequate.
Then we'll close on your home. This will likely occur at a title company or escrow office and will probably be a smooth and easygoing affair.
Step 9 – Move in
Congratulations! It's time to move into your new home. Enjoy it. And if you have any questions, just contact me at 850-217-4530 or e-mail me at .