Buying your home in Mineral Wells
With a little up-front planning, purchasing a home isn't too difficult, but the event intimidates a lot of people.
I like to supply buyers with an overview of the entire deal so they'll understand exactly what they can expect.
Below are my nine steps to buying a home.
If you have questions about any of 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 begin looking for a home, there are many things you need to contemplate.
When you start your search, you'll probably want to put together a checklist of items you need to have, get a plan of what school districts and neighborhoods you'd like to live in, and begin working on your budget.
Keeping your mortgage payment less than 30 percent of your monthly income is a good guideline to adhere to.
Step 2 – Connect with a real estate agent in Mineral Wells
This is where I come in.
We'll book a time to get together so we can talk about why you want to buy a home and get an idea of your future plans.
We'll discuss the mortgage and housing industries, other economic factors that could potentially affect your purchase today or in the future, as well as neighborhoods and school districts in the Mineral Wells area.
In addition, I'll assist you in getting started on your loan.
I partner with some of the finest mortgage professionals in Mineral Wells, so you can rest assured that you're in great hands.
They will assist you in determining which type of loan is best for you and help you get qualified.
Step 3 – Start looking for a house
Following our initial meeting, I'll start looking for available houses on the market that are a great fit for you.
I'll research many of the homes and ignore the duds, and then we'll book appointments to view the homes whenever it's convenient for you.
When we tour homes, I'll show you the positive features, as well as bad ones. I'll also ask you about things you like and don't like.
Usually, buyers revise their wish list as we tour houses and some things become far more crucial than others.
If that happens, I'll go back through all the listings once more and trim it down to the home you've been dreaming about.
Step 4 – Comprehend the market
An agent's knowledge of the Mineral Wells housing market is a necessary factor in your house search. And I assure you I'm informed of all the neighborhoods and school districts, and I will alert you to certain areas are "hot" and demand immediate action and some that are "cool" and allow for cautiousness.
When we tour homes, I'll let you know when the asking price has room for bargaining and when I trust the house is "priced to sell."
When working with an agent, be careful and make sure you ask lots of questions, as any REALTOR in Mineral Wells will tell you they truly understand the home market.
If it doesn't seem like they know everything, call me at (940) 325-2006 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 home you've been waiting for
We'll find the home of your dreams in the Mineral Wells area, and when we do, I'll meticulously create your purchase offer. The offer will be tailored keeping your needs in mind and the home, including a lot of contingencies, such as getting financing, carrying out the home inspection, and a clear title.
When we submit your purchase offer, you'll likely need to present "earnest money." This is a cash deposit made to the seller to secure the offer to buy the property and is most often put towards the cost of closing. If the offer is accepted by the seller, we should close on the home about 30 to 60 days after. This allows ample time for your mortgage financing.
Step 6 – Negotiate the deal
Most deals aren't closed on the initial offer. It's extremely common to receive a counter offer. Don't let it intimidate you. We'll discuss whether or not to take the counter offer, propose our own counter offer, or decline the seller's offer and move on.
Market circumstances determine how aggressively we negotiate the deal.
We'll also work within your budget. And at the end of the day, we'll create a contract that's best for you.
Step 7 – Get a loan
Once we sign the final sales contract, you'll start working with your lender to close the loan.
If you've been pre-approved, this shouldn't take long at all, but you'll want to stay in close contact with your mortgage lender.
And I'll manage all the property information your lender needs to close the loan.
Step 8 – Close the deal
You'll get a Loan Estimate (LE) outlining closing costs from your lender within three days of receiving your loan application.
The estimate is based on the loan amount, and RESPA requirements order that it has to contain all closing costs and fall within a tight range of accuracy. I'll go over the estimate and let you know if it all looks all right.
Then we'll close on your home. This will most often happen at a title company or escrow office and should be a smooth and relaxing occasion.
Step 9 – Move in
Congratulations! It's time to move into your new house. Enjoy it. And if you have any questions, simply contact me at (940) 325-2006 or e-mail me at .