Buying or selling a home in Mineral Wells?
Purchasing a home intimidates most people, but it isn't all that hard with some planning ahead of time.
So they understand exactly what to expect, I will provide buyers with a road map of the whole deal.
Here are my nine steps to buying a home.
When you're ready to get started, you can contact me here or e-mail me at . I'm happy to address questions you have regarding this information.
Step 1 – Get ready to buy
There are a lot of things you need to do before you look for a home.
When you begin your search, you'll want to make an index of features you need, get a plan of what neighborhoods and school districts you want to live in, and start planning your budget.
A good principle to adhere to is that your mortgage payment should be less than or close to a third of your net monthly income.
Step 2 – Speak with a real estate agent in Mineral Wells
This is where Ender & Associates Realty can help.
I'd be happy 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 future plans.
We'll talk about neighborhoods, schools in the Mineral Wells area, the mortgage industry, and any additional economic factors that may affect your buying decision today or in the future.
In addition, I'll assist you with getting started on your loan.
I work with some of Mineral Wells's best mortgage professionals, so you're in great hands.
They can assist you in figuring out which type of loan is best for you and help you get approved.
Step 3 – Begin your home search
After our first meeting, I'll begin searching for houses on the market that are a great fit for you.
I'll research most of the homes and throw out the bad ones, and then we'll schedule appointments to view the homes at a time that's convenient for you.
When we view the homes, I'll show you the good features and bad ones. And I'll ask you what things you like and don't like.
It's common for buyers to update their wish list as we view houses and some things become more substantial than others.
If that's the situation, I'll look through all the listings once again and trim it down to the home you've been wishing for.
Step 4 – Understand the housing market
My understanding of the Mineral Wells market is a necessary factor in your house search. I am acquainted with all the school districts and neighborhoods, and I'll communicate some areas are "hot" and warrant prompt action and some that are "cold" and allow for thoughtful analysis.
When we tour houses, I'll be sure to tell you if the seller's asking price has room for bargaining or if I believe the home is "priced to sell."
When working with an agent, be on guard and make sure you ask plenty of questions, as every real estate agent will tell you they understand the housing market.
If it appears they don't know everything, 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 knowledge of the market will help you stay a step ahead through the entire deal.
Step 5 – Find the house you've been waiting for
We'll find the house of your dreams in the Mineral Wells area, and when we do, I'll precisely develop your purchase offer. The offer will be tailored to suit your needs and the home, including some contingencies. A few examples are getting financing, carrying out the home inspection, and a clear title.
When we turn in your purchase offer, most likely you'll want to submit "earnest money." This is a cash deposit made to the seller to secure the offer to purchase the property. The amount is most often applied to the cost of closing. If the offer is accepted, we should close on the property about 30 to 60 days after. This allows necessary time for your mortgage financing.
Step 6 – Negotiate
A lot of contracts aren't closed on the first offer – it's pretty common to receive a counter offer. Don't let it intimidate you. We'll discuss whether or not to accept the counter offer, propose our own counter offer, or decline the seller's offer and go on.
The state of the market will play a vital 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 put together a contract that's best for you.
Step 7 – Get your loan
Once the deal is signed, you'll start working with your lender to close the loan.
It shouldn't take much time at all if you're already pre-qualified, but you'll want to stay in close contact with your lender.
And I'll deal with all the property information your lender needs to close the loan.
Step 8 – Close the deal
Your mortgage lender will send you a Loan Estimate (LE) detailing your closing costs within three days of taking your application. You'll get a Loan Estimate (LE) outlining your closing costs from your lender within three days of getting your loan application.
The estimate is formed from the loan amount. RESPA requirements dictate that it has to involve all closing costs and fall within a narrow range of accuracy, and I'll review the estimate and let you know if it all looks permissible.
Then it's time to close on your home. This will probably take place at a title company or escrow office and will likely be a smooth and stress-free occurrence.
Step 9 – Move in
Congratulations! Now you can 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 .