Buying or selling a home? Grover Collins Real Estate & Auction Inc. can help.
With a little planning ahead of time, buying a home isn't very hard, but the event intimidates many people.
I like to supply buyers with a road map of the whole deal so they'll understand exactly what to expect.
Here are my nine steps to buying a home.
If you have questions regarding this information or if you're ready to get started, just contact me here or e-mail me at .
Step 1 – Prepare to buy
Prior to beginning your home search, there are many things you need to take into account.
It's likely that you'll want to put together an index of features you need, get an idea of what school districts you'd like to live in, and start planning your budget.
Ensuring your mortgage payment is no more than a third of your monthly income is a good guideline to follow.
Step 2 – Speak with a real estate agent in Lewisburg
That's where I come in.
We can set up a time to get together so we can talk about why you want to buy a home and get an idea of your upcoming plans.
We'll talk about neighborhoods, school districts in the Lewisburg area, the mortgage industry, and any other economic factors that may potentially affect your purchase today or in the future.
I can also help you facilitate the loan process.
There are some excellent mortgage professionals in Lewisburg, and I partner with a lot of them, so you'll be in great hands.
They will assist you with determining which kind of loan is best for you and help you get approved.
Step 3 – Start house-hunting
After our initial meeting, I'll begin finding available houses on the market that best suit you.
I'll get a sneak peek of most of the homes and throw out the duds, and then we'll schedule appointments to view the homes whenever it's convenient for you.
When we view the houses, I'll call attention to positive features and bad ones. I'll even ask you to talk about things you like and don't like.
It's pretty common for buyers to update their must-have list as we tour homes and some items become more crucial than others.
If that's the situation, I'll search all the listings one more time and narrow it down to the house you've been wishing for.
Step 4 – Get a grasp of the market
My understanding of the Lewisburg home market is a necessary component in your home search. I am informed of all the schools and neighborhoods, and I will alert you to what neighborhoods are "hot" and call for prompt action and some that are "cool" and allow for thoughtful consideration.
As we view homes, I'll make sure to communicate when the seller's asking price has room for negotiation and also when I trust the home is "priced to sell."
Any REALTOR in Lewisburg will convince you they know the housing market, but be on guard, and be sure to ask your agent plenty of questions.
If it seems like they don't know everything, contact me at (931) 359-6231 or e-mail me at , and I'd be happy to answer any questions you might have. My market expertise will help you stay a step ahead through the entire process.
Step 5 – Find the house you've been looking for
We'll find your dream home in the Lewisburg area, and when that happens, I'll thoroughly develop your home purchase offer. The offer will be made to fit your needs and the home. We'll include many contingencies, such as getting financing, carrying out the home inspection, and a clean title.
When we turn in your offer, you'll want to submit "earnest money." This is a cash deposit made to the home seller to secure the offer to purchase the property. The amount is often applied to the closing costs. If the seller accepts your offer, we should close on the property within 30 to 60 days afterward. This allows necessary time for your mortgage financing.
Step 6 – Negotiate the deal
A lot of deals aren't closed on the initial offer – it's very common to receive a counter offer. But don't let this discourage you. We'll figure out whether or not to accept the counter offer, submit our own counter offer, or refuse the seller's offer and go on.
The state of the market will play a vital role in how aggressively we negotiate the deal.
We'll also work within your budget. And when it's all said and done, we'll put together a deal that's best for you.
Step 7 – Obtain a loan
Upon finishing the deal, you'll start working with your mortgage lender to close the loan.
If you're pre-qualified, it shouldn't be a long process at all. But you need to stay in close contact with your mortgage lender.
And I'll look after all the property information your lender needs to close the loan.
Step 8 – Close the deal
You'll get a Loan Estimate (LE) detailing your closing costs from your lender within three days of receiving your application.
This estimate rests on the loan amount, and RESPA requirements require that it has to contain all closing costs and fall within a tight range of accuracy. I'll review the estimate and let you know if it all looks good.
Then it's time to close on your house. This will most often occur at a title company or escrow office and will most often be a smooth and comfortable affair.
Step 9 – Move in
Congratulations! Now you can move into your new home. Enjoy it. And if you need anything, simply call me at (931) 359-6231 or e-mail me at .