Contemplating buying your new home in Gilbert?
For many people, buying a home can be an intimidating event. But with some planning ahead of time, it isn't very complicated.
I like to give buyers an overview of the whole deal so they'll understand exactly what they can expect.
Here are my nine steps to purchasing a home.
Should you have any questions regarding this information or if you're ready to get started, simply contact me here or e-mail me at .
Step 1 – Get ready to purchase
Before you start looking for a home, there are a lot of things you should take into account.
You'll want to make an index of items you want to have, get a feeling for what school districts you'd like to live in, and start planning around your budget.
Ensuring your mortgage payment is no more than 30 percent of your net monthly income is a good guideline to go by.
Step 2 – Get in touch with a real estate agent in Gilbert
This is where Solutions Real Estate can help.
We can schedule a time to meet so we can talk about why you want to buy a home and get an idea of your upcoming plans.
We'll discuss neighborhoods, school districts in the Gilbert area, the mortgage and housing industries, and any other economic factors that might affect your purchase today or in the future.
I'll also help you facilitate the loan process.
There are some very good mortgage professionals in Gilbert, and I work with a lot of them, so you're in great hands.
They'll help you determine which type of loan is best for you, as well as help you get approved.
Step 3 – Start looking for a house
After we meet for the first time, I'll start looking for houses on the market that are good for you.
I'll get a sneak peek of many of the houses and exclude the bad ones, and then we'll schedule appointments to tour the homes at a time that's convenient for you.
As we view the houses, I'll identify good features and bad ones. I'll also ask you to tell us about things you like and dislike.
Most often, buyers revise their list of must-haves as we tour houses and some items become more crucial than others.
If such is the case, I'll search all the listings one more time and trim it down to the home you've been waiting for.
Step 4 – Get a grasp of the housing market
An agent's understanding of the Gilbert housing market is a necessary element in your home search. And I assure you I'm acquainted with all the neighborhoods and school districts, and I can let you know certain areas are "hot" and demand immediate action and some that are "cold" and allow for more consideration.
As we view houses, I'll make sure to communicate if the seller's asking price has room for negotiation or if I believe the house is "priced to sell."
When working with an agent, trust your instincts and make sure you ask lots of questions. Any REALTOR in Gilbert will tell you they truly know the home market.
If it appears they don't know everything, contact me at (602) 576-5355 or e-mail me at , and I'd be more than happy to answer your questions. My knowledge of the market will help you stay a step ahead throughout the entire deal.
Step 5 – Find the house of your dreams
We'll find the house of your dreams in Gilbert, and when we do, I'll meticulously develop your real estate purchase offer. The offer will be tailored to suit your needs and the home, including many contingencies. A few examples are acquiring financing, completing the inspection, and a clear title.
Upon presenting your offer, you'll need to present "earnest money." This is a cash deposit made to the seller to secure an offer to buy the property. The amount is typically put towards the cost of closing. If the offer is accepted by the seller, we should close on the property about 30 to 60 days afterward. This allows sufficient time for your mortgage financing.
Step 6 – Negotiate the deal
Most contracts aren't closed on the beginning offer, and it's really common to receive a counter offer. But don't let it discourage you. We'll consider whether or not to accept the counter offer, propose our own counter offer, or decline the seller's offer and go on.
Market conditions 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 assemble a deal that is best for you.
Step 7 – Secure a loan
After the contract is finished, you'll start working with your mortgage lender to close the loan.
If you've been pre-approved, this shouldn't be a long process at all. But you should to keep in close contact with your lender.
And I'll care for all the property information your mortgage lender will need to close the loan.
Step 8 – Close the deal
You'll get a Loan Estimate (LE) of closing costs from your mortgage lender within three days of receiving your loan application.
This estimate is formed from the loan amount, and RESPA requirements require that it has to contain all closing costs and be within a precise range of accuracy. I'll examine the estimate and let you know if it all looks permissible.
Then it's time to close on your house. This will most often take place at a title company or escrow office and should be a smooth and calm occasion.
Step 9 – Move in
Congratulations! Now you can move into your new house. Enjoy it. And if you need anything, just contact me at (602) 576-5355 or e-mail me at .