Let SBR Realty assist you with buying your NEW HOME!!
For most people, buying a home can be a stressful event. But with a bit of up-front planning, it isn't that confusing. We like to supply buyers with a road map of the whole deal so they know exactly what they can expect. These are my nine steps to purchasing a home. Should you have any questions about this information or if you're ready to get started, you can contact us here or e-mail us at .Step 1 – Get ready to buy
There are many things you should contemplate before commencing your home search. You'll want to assemble a checklist of features you need, get a feel for what school districts you'd like to live in, and start planning your budget. A good rule of thumb to adhere to is that your mortgage payment should be less than or close to a third of your net monthly income.
Step 2 – Talk to a real estate agent
This is where SBR Realty comes in. We'll schedule a time to get together so we can talk about your real estate needs and get an idea of your plans for the future. We'll talk about neighborhoods, schools in the area of your choice, the mortgage industry, and any other economic factors that may affect your purchase today or in the future.
We can also assist you in getting started on your loan. There are many excellent local mortgage professionals, and we partner with a lot of them, so you can rest assured that you're in great hands. They'll help you decide which kind of loan is best for you, as well as help you get qualified.
Step 3 – Start looking
After our first meeting, we will start finding houses on the market that are a great fit for you. We'll research most of the houses and throw out the bad ones, and then we'll set up appointments to tour the homes whenever it's convenient for you.
When we view the homes, we will review the good features, as well as bad ones. Then we will talk about the things you liked and disliked. As a rule, buyers change their must-have list as we view houses and some things become far more crucial than others. If that's the case, we will go back through the listings once again and narrow it down to the home of your dreams.
Step 4 – Understand the market
Your agent's understanding of the market is a necessary element in your house search. And we can assure you SBR Realty agents are informed of area schools and neighborhoods, and we will communicate certain areas are "hot" and call for prompt action while others are "cold" and allow for careful consideration.
When reviewing homes, your SBR Realty agent will let you know when the seller's asking price has room for negotiation and also when the home is "priced to sell." Trust your instincts and make sure you ask your SBR Realty agent plenty of questions. Feel free to call us anytime at 609-392-0600 or e-mail us at , and I'll be more than happy to answer your questions. Our understanding of the market will keep you a step above the rest through the entire deal.
Step 5 – Find the house you've been waiting for
We are positive we'll find the home of your dreams in the area you desire. When we do, we will precisely create your real estate purchase offer. The offer will be tailored with your needs and the home in mind. Contingencies such as acquiring financing, completing the home inspection, and a clear title are just a few we'd add to your offer.
When turning in your purchase offer, you'll want to present your "earnest money deposit". This is a deposit submitted to the home seller to secure an offer to buy the property and is most often put towards the closing costs. If the seller accepts your offer, we should close about 30 to 60 days afterward. This allows enough time for your mortgage financing.
Step 6 – Negotiate the deal
Most contracts aren't closed on the beginning offer – it's pretty common to receive a counter offer. But don't let this discourage you. We'll figure out whether or not to take the counter offer, submit our own counter offer, or reject the seller's offer and go on.
Market conditions determine how aggressively we negotiate the contract. We'll also work within your financing budget. And when it's all said and done, we'll put together a deal that works well for you.
Step 7 – Obtain your loan
After the deal is finalized, you'll start working with your mortgage lender to close the loan. If you've been pre-qualified, it shouldn't be a long process at all. But you need to keep in close contact with your lender. And your SBR Realty agent will handle all the property information your lender needs to close the loan.
Step 8 – Close the deal
Your lender will send you a Loan Estimate (LE) detailing your closing costs within three days of getting your application. You'll get a Loan Estimate (LE) detailing your closing costs from your mortgage lender within three days of accepting your loan application. The estimate is based on the loan amount, and RESPA requirements mandate that it has to involve all closing costs and fall within a narrow range of accuracy. We can go over the estimate and let you know if it all looks good.
Then we'll close on your house. This will usually occur at a title company, SBR Realty, or your attorney's office. We look forward to this being a smooth and joyous occasion.
Step 9 – Move in
Congratulations! It's time to move into your new home. Enjoy it. And if you have any questions, just contact us at 609-392-0600 or e-mail us at .