For most people, buying a home can be an intimidating event. However, with a little planning ahead of time, it's not very complex.
I like to give buyers an outline of the whole deal so they know exactly what they can expect.
Here are my nine steps to purchasing a home.
If you have questions regarding any of this information or if you're ready to get started, simply contact me at 718-554-0257 or e-mail me at firstname.lastname@example.org.
Step 1 – Prepare to purchase a home
Prior to starting your home search, there are many things you'll want to consider.
When you start your search, you'll want to make an outline of features you need, get an idea of what school districts and neighborhoods you'd like to live in, and start working on your budget.
Ensuring your mortgage payment is no more than a third of your net monthly income is a good principle to follow.
Step 2 – Get with an One Stop Multi Service Agent In Woodside, Queens
That's where I come in.
We'll plan a time to meet 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 everything from neighborhoods, schools in the Woodside, Queens area, the mortgage and housing industries, to any other economic factors that may affect your buying decision today or in the future.
I can also help you facilitate the loan process.
There are some excellent mortgage professionals here at One Stop Multi service, and I partner with a lot of them, so you'll be in great hands.
They'll assist you with figuring out which kind of loan is best for you and help you get qualified.
Step 3 – Start looking
After our initial meeting, I'll begin searching for homes on the market that are a best fit for you.
I'll get a sneak peek of most of the homes and ignore the bad ones saving you time and money, and then we'll book appointments to tour the houses at a time that's convenient for you.
When we view the homes, I'll call attention to the good features, as well as the bad ones. I'll even ask you to point out what things you like and dislike.
It's widely common for buyers to revise their wish list as we view houses and some things become more crucial than others.
If that happens, I'll go back through all the listings once more and narrow it down to the house you've been wishing for.
Step 4 – Get a grasp of the housing market
An agent's knowledge of the Woodside home market is an imperative agent in your home search. And I assure you I'm conscious of all the neighborhoods and school districts, and I can alert you to some districts are "hot" and warrant immediate action and others that are "cold" and allow for more examination.
As we tour houses, I'll be sure to tell you if the asking price has room for negotiation or if I believe the home is "priced to sell."
Every real estate agent will tell you they truly understand the home market, but trust your instincts, and make sure you ask your agent a lot of questions.
If it doesn't seem like they know everything, just call me at 718-554-0257 or e-mail me at email@example.com, and I'd be glad to answer any questions you have. My understanding of the market will keep you a step ahead through the entire deal.
Step 5 – Find the house you've been waiting for
I'm sure we'll find the house of your dreams in the WOODSIDE area. When we do, I'll precisely develop your home purchase offer. The offer will be tailored exactly to your needs, including many contingencies. A few examples are acquiring financing, carrying out the inspection, and a clean title.
When submitting your offer, you'll likely want to submit "earnest money." This is a cash deposit submitted to a seller to secure the offer to buy the property and is typically applied to the cost of closing. If the offer is accepted, we should close on the property about 30 to 60 days afterward. This allows ample time for your mortgage financing.
Step 6 – Negotiate the deal
Most deals aren't closed on the initial offer – it's very common to receive a counter offer. Don't let it intimidate you. We'll talk about whether or not to agree to the counter offer, submit our own counter offer, or reject the seller's offer and move on.
Market circumstances determine how aggressively we negotiate the contract.
In addition, we'll work within your budget. And when it's all said and done, we'll create a contract that is best for you.
Step 7 – Obtain financing
After we sign the final deal, you'll start working with your mortgage lender to close the loan.
If you're pre-qualified, this won't take much time at all, but you need to stay in close contact with your mortgage lender.
And I'll sort out all the property information your lender will need to close the loan.
Step 8 – Close the deal
You'll get a Good Faith Estimate (GFE) detailing your closing costs from your mortgage lender within three days of receiving your loan application.
The estimate depends on the loan amount. RESPA requirements require that it has to involve all closing costs and be within a strict range of accuracy, and I'll analyze the estimate and let you know if everything looks permissible.
Then we'll close on your home. This will likely occur at a title company or escrow office and will most likely be a smooth and relaxing event.
Step 9 – Move in
Congratulations! Now you can move into your new home. Enjoy it. And if you need anything, be sure to call me at 718-554-0257 or send me an e-mail.