Purchasing your new home in Mary Esther
With a little planning ahead of time, purchasing a home isn't too difficult, but the event is stressful for many people.
I like to provide buyers with an overview of the whole deal so they'll understand exactly what they can expect.
These 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, just contact me here or e-mail me at .
Step 1 – Get ready to purchase
There are plenty of things you'll want to contemplate prior to commencing your home search.
When you start your search, you'll probably want to form an index of items you need, get a feel for what neighborhoods you'd like to live in, and start working on your budget.
A good rule to adhere to is that your mortgage payment should be less than or close to 30 percent of your net monthly income.
Step 2 – Contact a real estate agent in Mary Esther
This is where Shannon Wade Henley can help.
We can plan a time to get together so we can talk about why you want to buy a home and get an idea of your future plans.
We'll talk about everything from neighborhoods, schools in the Mary Esther area, the mortgage and housing industries, to any other economic factors that may potentially affect your buying decision today or in the future.
In addition, I'll assist you with getting started on your loan.
There are some very good mortgage professionals in Mary Esther, and I partner with a lot of them, so you'll be in great hands.
They will help you choose which type of loan is best for you, as well as help you get qualified.
Step 3 – Begin looking for a house
After our initial meeting, I'll begin finding available houses on the market that meet your needs.
I'll preview most of the houses and reject the duds, 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 point out positive features and bad ones. I'll even ask you about things you like and don't like.
It's common for buyers to revise their wish list as we view homes and some items become far more important than others.
If that's the case, I'll go back through the listings one more time and narrow it down to the home you've been dreaming about.
Step 4 – Comprehend the housing market
My understanding of the Mary Esther home market is an essential component in your house search. I'm informed of all the neighborhoods and school districts, and I can let you know what neighborhoods are "hot" and warrant immediate action and the ones that are "cold" and allow for thoughtful examination.
When we tour homes, I'll let you know when the list price has room for bargaining and when I believe the house is "priced to sell."
Be on guard and be sure to ask your agent plenty of questions, as any REALTOR will convince you they know the home market.
If it appears they don't know everything, contact me at 850-217-4530 or e-mail me at , and I'd be more than happy to answer any questions you may have. My market knowledge will help you stay a step ahead throughout the entire deal.
Step 5 – Find your dream home
I know we'll find your dream house in Mary Esther. When we do, I'll thoroughly create your purchase offer. The offer will be tailored keeping your needs in mind and the home, including a lot of contingencies. A few examples are obtaining financing, carrying out the home inspection, and a clear title.
When sending in your purchase offer, you'll need to submit "earnest money." This is a cash deposit submitted to a home seller to secure an offer to purchase the property and is often applied to the cost of closing. If the seller accepts the offer, we should close on the home within 30 to 60 days after. This allows necessary time for your mortgage financing.
Step 6 – Negotiate
Unfortunately most deals aren't closed on the initial offer – it's really common to receive a counter offer. Don't let this discourage 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 go on.
How aggressively we negotiate the deal depends on the state of the market.
In addition, we'll work within your financing budget. And when it's all said and done, we'll create a contract that is best for you.
Step 7 – Secure a loan
After the contract is complete, you'll start working with your mortgage lender to close the loan.
If you've been pre-approved, it shouldn't take long at all. However, you should to keep in close contact with your mortgage lender.
And I'll deal with 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) outlining closing costs within three days of accepting your application. You'll get a Loan Estimate (LE) detailing closing costs from your lender within three days of getting your application.
This estimate depends on the loan amount, and RESPA requirements order that it has to contain all closing costs and fall within a precise range of accuracy. I'll go over the estimate and let you know if everything looks adequate.
Then we'll close on your house. This will most likely happen at a title company or escrow office and will most likely be a smooth and relaxed affair.
Step 9 – Move in
Congratulations! Now you can move into your new home. Enjoy it. And if you need anything or have any questions, be sure to contact me at 850-217-4530 or e-mail me at .