Are you purchasing a home in Mary Esther? Shannon Wade Henley can help.
Purchasing a home is stressful for many people, but with a bit of planning ahead of time, it isn't all that complicated.
I like to furnish buyers with an overview of the whole deal so they understand exactly what they can expect.
Below are my nine steps to buying a home.
When you're ready to get started, you can contact me here or e-mail me at . I'm happy to address questions you have regarding this information.
Step 1 – Prepare to buy
There are plenty of things you'll want to take into account before you start looking for a home.
It's likely that you'll want to make a checklist of must-haves, plan for what school districts you want to live in, and start planning around your budget.
A good rule of thumb to go by is that your mortgage payment should be close to 30 percent of your net monthly income.
Step 2 – Talk to a real estate agent in Mary Esther
This is where Shannon Wade Henley comes in.
I'd be happy to arrange a time to get together with you and talk about why you want to buy a home and get an idea of your future plans.
We'll discuss the mortgage and housing industries, other economic factors that could potentially affect your purchase today or in the future, as well as neighborhoods and schools in the Mary Esther area.
In addition, I'll help you get started on your loan.
There are some great mortgage professionals in Mary Esther, and I partner with a lot of them, so you're in great hands.
They will assist you in choosing which type of loan is best for you and help you get qualified.
Step 3 – Start looking for a home
Following our first meeting, I'll start finding houses on the market that are good for you.
I'll research most of the houses and remove the duds, and then we'll schedule appointments to view the houses when it's most convenient for you.
As we tour the homes, I'll show you the good features and bad ones. I'll even ask you to point out what things you like and dislike.
It's pretty common for buyers to amend their wish list as we view houses and some features become far more crucial than others.
If that's the situation, I'll look through the listings once more and narrow it down to the home you've been waiting for.
Step 4 – Understand the housing market
An agent's knowledge of the Mary Esther home market is a necessary agent in your home search. And I assure you I'm mindful of all the neighborhoods and schools, and I can let you know what areas are "hot" and demand prompt action and the ones that are "cool" and allow for careful analysis.
When we view homes, I'll be sure to tell you when the seller's list price has room for bargaining and when I trust the house is "priced to sell."
Be careful and make sure you ask your agent plenty of questions, as every real estate agent in Mary Esther will claim to truly understand the market.
If things don't add up, just call me at 850-217-4530 or e-mail me at , and I'll be more than happy to answer any questions you may have. My knowledge of the market will help you stay a step ahead through the entire process.
Step 5 – Find the home of your dreams
I'm sure we'll find your dream home in Mary Esther. When we do, I'll carefully create your real estate purchase offer. The offer will be tailored to suit your needs and the home, including some contingencies. A few examples are obtaining financing, completing the inspection, and a clear title.
When sending in your purchase offer, most likely you'll need to submit "earnest money." This is a cash deposit submitted to a seller to secure the offer to purchase the property. The amount is most often applied to the cost of closing. If the offer is accepted, we should close on the property within 30 to 60 days afterward. This allows plenty of time for your mortgage financing.
Step 6 – Negotiate the deal
A lot of deals don't close on the beginning offer. It's extremely common to receive a counter offer. Don't let it intimidate you. We'll consider whether or not to agree to the counter offer, propose our own counter offer, or decline the seller's offer and move on.
The state of the market determines how aggressively we negotiate the deal.
In addition, we'll work within your financing limits. And at the end of the day, we'll create a contract that works well for you.
Step 7 – Secure financing
Upon completing the contract, you'll begin working with your mortgage lender to close the loan.
This won't be a long process at all if you're pre-qualified, but you need to keep in close contact with your lender.
And I'll care for all the property information your mortgage lender will need to close the loan.
Step 8 – Close the deal
Your mortgage lender will provide you with a Loan Estimate (LE) detailing closing costs within three days of receiving your application. You'll get a Loan Estimate (LE) outlining closing costs from your lender within three days of taking your loan application.
This estimate is based on the loan amount. RESPA requirements require that it has to include all closing costs and fall within a close range of accuracy, and I'll review the estimate and let you know if everything looks permissible.
Then we'll close on your house. This will most likely occur at a title company or escrow office and will probably be a smooth and relaxing occurrence.
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 call me at 850-217-4530 or e-mail me at .