Buying your home in Lewisburg?
With a little up-front planning, buying a home isn't too confusing, but the event intimidates many people.
So they'll understand exactly what to expect, I like to give buyers an overview of the whole deal.
These are my nine steps to purchasing a home.
If you have any questions regarding this information or if you're ready to get started, you can contact me here or e-mail me at .
Step 1 – Get ready to buy a home
There are plenty of things you need to consider prior to beginning your home search.
When you start your search, you'll want to create a list of features you want, get a plan of what neighborhoods and school districts you'd like to live in, and start planning around your budget.
Keeping your mortgage payment less than or close to a third of your monthly income is a good rule to adhere to.
Step 2 – Get in touch with a real estate agent
That's where I can help.
We can book a time to get together so we can talk about your real estate needs and get an idea of your future plans.
We'll talk about everything from neighborhoods, schools in the Lewisburg area, the mortgage and housing industries, to any other economic factors that could potentially affect your buying decision today or in the future.
I can also help you start the loan process.
I work with some of the best mortgage professionals in Lewisburg, so you'll be in great hands.
They will help you determine which kind of loan is best for you, as well as help you get qualified.
Step 3 – Start house hunting
After our initial meeting, I'll begin looking for available houses on the market that are a good fit for you.
I'll research many of the houses and remove the bad ones, and then we'll set up appointments to tour the houses when it's most convenient for you.
As we tour the homes, I'll point out positive features and bad ones. And I'll ask you what things you like and dislike.
Frequently, buyers change their wish list as we view homes and some features become more important than others.
If such is the case, I'll look through the listings another time and trim it down to the home you've been wishing for.
Step 4 – Get a grasp of the market
Your agent's knowledge of the Lewisburg market is an essential component in your house search. And I assure you I'm acquainted with all the neighborhoods and school districts, and I'll alert you to which districts are "hot" and call for prompt action and the ones that are "cold" and allow for more examination.
When we tour homes, I'll make sure to communicate if the seller's asking price has room for bargaining or if I believe the house is "priced to sell."
When working with an agent, be careful and make sure you ask lots of questions, as every real estate agent in Lewisburg will claim to comprehend the housing market.
If things don't add up, contact me at (931) 359-6231 or e-mail me at , and I'll be more than happy to answer any questions you might have. My market expertise will keep you a step above the rest through the entire deal.
Step 5 – Find the house of your dreams
I'm confident we'll find your dream house in Lewisburg. When that happens, I'll carefully create your purchase offer. The offer will be made to fit your needs and the home. We'll include many contingencies, such as getting financing, completing the home inspection, and a clear title.
When we submit your purchase offer, you'll likely want to submit "earnest money." This is a cash deposit submitted to the home seller to secure an offer to purchase the property. The amount is most often applied to the cost of closing. If the seller accepts the offer, we should close on the property within 30 to 60 days after. This allows ample time for your mortgage financing.
Step 6 – Negotiate the deal
Unfortunately most deals aren't closed on the initial offer – it's pretty common to receive a counter offer. But don't let it intimidate you. We'll talk about whether or not to take the counter offer, present our own counter offer, or refuse the seller's offer and move on.
How aggressively we negotiate the deal depends on market conditions.
In addition, we'll work within your financing constraints. And at the end of the day, we'll compose a deal that works well for you.
Step 7 – Obtain a loan
Upon completion of the deal, you'll begin working with your lender to close the loan.
If you're already pre-approved, this won't be a long process at all, but you'll need to stay in close contact with your mortgage lender.
And I'll handle all the property information your lender will need to close the loan.
Step 8 – Close the deal
You'll get a Loan Estimate (LE) detailing closing costs from your mortgage lender within three days of accepting your loan application.
The estimate rests on the loan amount. RESPA requirements require that it has to involve all closing costs and be within a precise range of accuracy, and I'll review the estimate and let you know if it all looks adequate.
Then we'll close on your house. This will probably occur at a title company or escrow office and is often a smooth and easygoing occurrence.
Step 9 – Move in
Congratulations! Now you can move into your new home. Enjoy it. And if you have any questions, be sure to contact me at (931) 359-6231 or e-mail me at .