Are you buying a home in Mineral Wells? Ender & Associates Realty can help.
Buying a home is a stressful event for a lot of people. However, with a little up-front planning, it isn't very difficult.
So they'll know exactly what they can expect, I will provide buyers with an overview of the whole deal.
Below are my nine steps to buying a home.
If you have any questions regarding any of this information or if you're ready to get started, you can contact me here or e-mail me at .
Step 1 – Prepare to buy a home
There are many things you'll want to consider before you start searching for a home.
When you start your search, you'll probably want to make a list of features you want, get a feeling for what neighborhoods you'd like to live in, and begin planning around your budget.
Keeping your mortgage payment less than 30 percent of your monthly income is a good rule to adhere to.
Step 2 – Contact a real estate agent
This is where I can help.
I'd love to set up 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 talk about the mortgage industry, other economic factors that could affect your purchase today or in the future, as well as neighborhoods and schools in the Mineral Wells area.
In addition, I'll help you facilitate the loan process.
There are some very good mortgage professionals in Mineral Wells, and I partner with a lot of them, so you'll be in great hands.
They can help you figure out which kind of loan is best for you, as well as help you get qualified.
Step 3 – Start your home search
After our initial meeting, I'll start looking for available homes on the market that are a great fit for you.
I'll preview most of the houses and remove the duds, and then we'll set up appointments to view the houses whenever it's most convenient for you.
As we tour the homes, I'll call attention to good features, as well as negative ones. I'll also ask you to tell us about things you like and dislike.
Oftentimes, buyers revise their wish list as we tour homes and some items become far more essential than others.
If that's the case, I'll look through the listings once more and trim it down to the house you've been dreaming about.
Step 4 – Get a grasp of the market
Your agent's knowledge of the Mineral Wells home market is a necessary element in your home search. And I can assure you I'm mindful of all the neighborhoods and school districts, and I can communicate what neighborhoods are "hot" and call for immediate action and the ones that are "cool" and allow for more consideration.
When we tour homes, I'll be sure to tell you when the asking price has room for bargaining and when I know the home is "priced to sell."
When working with an agent, be mindful and be sure to ask a lot of questions. Every real estate agent in Mineral Wells will tell you they understand the market.
If things don't add up, call me at (940) 325-2006 or e-mail me at , and I'd be more than happy to answer any questions you have. My market expertise will help you stay a step ahead throughout the entire deal.
Step 5 – Find your dream home
We'll find the house of your dreams in the Mineral Wells area, and when that happens, I'll thoroughly create your purchase offer. The offer will be tailored to suit your needs and the home, including a lot of contingencies. A few examples are getting financing, completing the home inspection, and a clear title.
When presenting your purchase offer, you'll need 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 usually applied to the closing costs. If the offer is accepted, we should close on the property within 30 to 60 days afterward. This allows necessary time for your mortgage financing.
Step 6 – Negotiate
A lot of contracts don't close on the initial offer. It's very common to receive a counter offer. Don't let this discourage you. We'll talk over whether or not to agree to the counter offer, submit our own counter offer, or decline the seller's offer and move on.
Market conditions determine how aggressively we negotiate the contract.
We'll also work within your financing limits. And at the end of the day, we'll assemble a deal that is best for you.
Step 7 – Get a loan
Once the deal is finalized, you'll start working with your mortgage lender to close the loan.
This won't be a long process at all if you've been pre-qualified, but you'll need to keep 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 closing costs from your mortgage lender within three days of receiving your application.
This estimate is based on the loan amount, and RESPA requirements mandate that it has to involve all closing costs and be within a tight range of accuracy. I'll examine the estimate and let you know if it all looks all right.
Then it's time to close on your home. This should happen at a title company or escrow office and is often a smooth and pleasant occurrence.
Step 9 – Move in
Congratulations! It's time to move into your new house. Enjoy it. And if you need anything or have any questions, simply contact me at (940) 325-2006 or e-mail me at .