Buying a home in Mineral Wells with Ender & Associates Realty
Purchasing a home is intimidating for a lot of people, but with some up-front planning, it isn't too complicated.
So they know exactly what to expect, I like to give buyers an overview of the whole deal.
Here are my nine steps to buying a home.
When you're ready to get started, simply contact me here or e-mail me at . I'm glad to address any questions you have about this information.
Step 1 – Get ready to purchase a home
Before you start looking for a home, there are a lot of things you should do.
When you begin your search, you'll probably want to make a check list of must-have features, get a feeling for what school districts and neighborhoods you want to live in, and begin working on your budget.
A good guideline to follow is that your mortgage payment should be around 1/3 of your net monthly income.
Step 2 – Get in touch with a real estate agent
This is where Ender & Associates Realty comes in.
I'd be more than happy to book a time to get together with you and communicate with you about why you want to buy a home and get an idea of your future plans.
We'll talk about neighborhoods, school districts in the Mineral Wells area, the mortgage and housing industries, and any other economic factors that may affect your buying decision today or in the future.
In addition, I'll help you get started on your loan.
There are some great mortgage professionals in Mineral Wells, and I work with a lot of them, so you'll be in great hands.
They will assist you in determining which type of loan is best for you and help you get approved.
Step 3 – Begin house-hunting
After we meet, I'll begin searching for available houses on the market that suit your needs.
I'll get a sneak peek of most of the homes and ignore the bad ones, and then we'll schedule appointments to tour the homes whenever it's convenient for you.
As we view houses, I'll call attention to good features, as well as bad ones. I'll even ask you about things you like and dislike.
Usually, buyers amend their wish list as we view homes and some features become more essential than others.
If that happens, I'll go back through all the listings another time and trim it down to the home you've been wishing for.
Step 4 – Comprehend the housing market
An agent's understanding of the Mineral Wells housing market is a fundamental agent in your house search. And I can assure you I'm informed of all the neighborhoods and school districts, and I can communicate which neighborhoods are "hot" and demand prompt action and some that are "cool" and allow for more analysis.
When we tour houses, I'll make sure to communicate when the seller's asking price has room for bargaining and also when I think the home is "priced to sell."
Any real estate agent in Mineral Wells will tell you they understand the home market, but take notice, and be sure to ask your agent lots of questions.
If it doesn't seem like they know everything, contact me at (940) 325-2006 or e-mail me at , and I'll be happy to answer your questions. My market knowledge will help you stay a step above the rest through the entire deal.
Step 5 – Find your dream home
I know we'll find your dream house in Mineral Wells. When that happens, I'll carefully create your real estate purchase offer. The offer will be made to suit your needs and the home. We'll include a lot of contingencies, such as acquiring financing, carrying out the inspection, and a clean title.
When submitting your purchase offer, you'll likely need to present "earnest money." This is a cash deposit made to a seller to secure an offer to purchase the property, and it's usually put towards the closing costs. If the offer is accepted, we should close on the home about 30 to 60 days afterward. This allows sufficient time for your mortgage financing.
Step 6 – Negotiate the deal
A lot of contracts aren't closed on the first offer, and it's widely common to receive a counter offer. But don't let this intimidate you. We'll talk over whether or not to accept the counter offer, present our own counter offer, or decline the seller's offer and move on.
Market circumstances will play a large role in how aggressively we negotiate the contract.
We'll also work within your budget. And when it's all said and done, we'll create a contract that's best for you.
Step 7 – Obtain your loan
Upon finalizing the contract, you'll begin working with your lender to close the loan.
If you're already pre-approved, it shouldn't take long at all, but you need to keep in close contact with your lender.
And I'll sort out all the property information your lender will need to close the loan.
Step 8 – Close the deal
You'll get a Loan Estimate (LE) outlining your closing costs from your lender within three days of receiving your loan application.
This estimate is based on the loan amount, and RESPA requirements require that it has to contain all closing costs and fall within a tight range of accuracy. I'll study the estimate and let you know if it all looks good.
Then we'll close on your house. This will most likely happen at a title company or escrow office and will likely be a smooth and calm occasion.
Step 9 – Move in
Congratulations! It's time to move into your new home. Enjoy it. And if you need anything, simply contact me at (940) 325-2006 or e-mail me at .