Are you buying your new home in Gilbert?
Purchasing a home is intimidating for a lot of people, but with a bit of up-front planning, it's not very complicated.
So they'll understand exactly what to expect, I like to furnish buyers with a road map of the entire deal.
Here are my nine steps to purchasing a home.
When you're ready to get started, just contact me here or e-mail me at . I'm happy to address any questions you have about this information.
Step 1 – Prepare to buy a home
Before you begin looking for a home, there are several things you need to do.
You'll probably want to create an index of features you need, get an idea of what neighborhoods and school districts you'd like to live in, and start planning around your budget.
A good guideline to go by is that your mortgage payment should be no more than 1/3 of your net monthly income.
Step 2 – Connect with a real estate agent in Gilbert
This is where I can help.
I'd love to schedule a time to meet with you and talk about why you want to buy a home and get an idea of your plans for the future.
We'll discuss the mortgage and housing industries, other economic factors that may affect your buying decision today or in the future, as well as neighborhoods and schools in the Gilbert area.
In addition, I'll help you get started on your loan.
I partner with some of the best mortgage professionals in Gilbert, so you'll be in great hands.
They will assist you with figuring out which kind of loan is best for you and help you get qualified.
Step 3 – Begin house hunting
Following our first meeting, I'll begin finding available houses on the market that are a great fit for you.
I'll research many of the houses and remove the duds, and then we'll book appointments to view the homes whenever it's convenient for you.
When we tour homes, I'll identify good features, as well as bad ones. I'll also ask you to talk about things you like and don't like.
It's widely common for buyers to update their must-have list as we view houses and some items become far more important than others.
If such is the case, I'll look through the listings again and narrow it down to the house you've been dreaming about.
Step 4 – Comprehend the market
An agent's knowledge of the Gilbert market is a fundamental agent in your house search. And I can assure you I'm acquainted with all the school districts and neighborhoods, and I'll communicate which neighborhoods are "hot" and call for immediate action and others that are "cool" and allow for more examination.
As we tour houses, I'll let you know when the list price has room for bargaining and also when I trust the home is "priced to sell."
Be careful and make sure you ask a lot of questions, as any REALTOR will tell you they understand the home market.
If things don't add up, just call me at (602) 576-5355 or e-mail me at , and I'll be happy to answer any questions you have. My market knowledge will help you stay a step ahead throughout the entire deal.
Step 5 – Find your dream house
I'm sure we'll find the home of your dreams in Gilbert. When that happens, I'll meticulously develop your purchase offer. The offer will be tailored with your needs in mind and the home, including several contingencies. A few examples are getting financing, completing the home inspection, and a clear title.
Upon presenting your purchase offer, most likely you'll need to present "earnest money." This is a cash deposit given to a home seller to secure the offer to purchase the property. The amount is often put towards the closing costs. If the offer is accepted, we should close on the property about 30 to 60 days after. This allows enough time for your mortgage financing.
Step 6 – Negotiate
Most deals aren't closed on the beginning offer, and it's really common to receive a counter offer. But don't let this discourage 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 conditions determine how aggressively we negotiate the contract.
In addition, we'll work within your financing budget. And when it's all said and done, we'll formulate a contract that works well for you.
Step 7 – Obtain a loan
After the contract is complete, you'll begin working with your mortgage lender to close the loan.
If you're already pre-qualified, this won't take much time at all. However, you need to keep in close contact with your lender.
And I'll deal with 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 your closing costs from your lender within three days of taking your loan application.
This estimate is formed from the loan amount, and RESPA requirements order that it has to include all closing costs and be within a strict range of accuracy. I'll study the estimate and let you know if everything looks okay.
Then it's time to close on your home. This will most likely happen at a title company or escrow office and will most often be a smooth and stress-free event.
Step 9 – Move in
Congratulations! Now you can move into your new house. Enjoy it. And if you need anything or have any questions, make sure you call me at (602) 576-5355 or e-mail me at .