Are you contemplating buying your home in Mineral Wells?
Buying a home is stressful for many people, but it's not that complex with a bit of up-front planning.
I like to furnish buyers with an outline of the whole deal so they understand exactly what to expect.
These are my nine steps to buying a home.
When you're ready to get started, just contact me here or e-mail me at . I'm happy to address any questions you have regarding this information.
Step 1 – Get ready to purchase a home
Prior to starting your home search, there are several things you'll want to contemplate.
It's likely that you'll want to make an index of items you need to have, get a feeling for what neighborhoods and school districts you'd like to live in, and begin working on your budget.
Keeping your mortgage payment less than or close to a third of your net monthly income is a good guideline to go by.
Step 2 – Communicate with a real estate agent
This is where Ender & Associates Realty can help.
We'll arrange a time to get together so we can talk about your real estate needs and get an idea of your plans for the future.
We'll discuss everything from neighborhoods, school districts in the Mineral Wells area, the mortgage industry, to any other economic factors that could potentially affect your buying decision today or in the future.
In addition, I'll help you start the loan process.
There are some excellent mortgage professionals in Mineral Wells, and I work with a lot of them, so you're in great hands.
They will help you figure out which type of loan is best for you, as well as help you get approved.
Step 3 – Start looking for a home
Following our initial meeting, I'll start finding available houses on the market that best suit you.
I'll research many of the houses and eliminate the bad ones, and then we'll set up appointments to tour the homes when it's most convenient for you.
As we view the homes, I'll show you the positive features, as well as negative ones. And I'll ask you to talk about things you like and dislike.
As a rule, buyers change their wish list as we view homes and some things become far more crucial than others.
If that's the case, I'll go back through all the listings one more time and trim it down to the home you've been wishing for.
Step 4 – Understand the housing market
My understanding of the Mineral Wells housing market is a fundamental agent in your house search. I am conscious of all the schools and neighborhoods, and I will communicate some neighborhoods are "hot" and demand prompt action and some that are "cool" and allow for cautiousness.
As we view homes, I'll let you know 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, trust your instincts and be sure to ask plenty of questions, as any real estate agent will claim to comprehend the housing market.
If things don't add up, just call me at (940) 325-2006 or e-mail me at , and I'd be happy to answer any questions you have. My understanding of the market will help you stay a step ahead through the entire process.
Step 5 – Find your dream house
I'm certain we'll find your dream home in Mineral Wells. When that happens, I'll carefully develop your purchase offer. The offer will be made to suit your needs and the home. We'll include several contingencies, such as acquiring financing, finishing the inspection, and a clear title.
When sending in your offer, you'll likely need to submit "earnest money." This is a cash deposit made to a seller to secure an offer to buy the property, and it's most often applied to the closing costs. If your offer is accepted, we should close on the home about 30 to 60 days after. This allows enough time for your mortgage financing.
Step 6 – Negotiate the deal
A lot of deals aren't closed on the first offer – it's really common to receive a counter offer. Don't let this discourage you. We'll talk about whether or not to agree to the counter offer, propose our own counter offer, or decline the seller's offer and go on.
How aggressively we negotiate the contract depends on market conditions.
In addition, we'll work within your financing budget. And when it's all said and done, we'll create a contract that's best for you.
Step 7 – Secure financing
After we sign the final deal, you'll begin working with your mortgage lender to close the loan.
This shouldn't take very long at all if you're already pre-approved, but you'll want to keep in close contact with your lender.
And I'll take care of all the property information your lender needs to close the loan.
Step 8 – Close the deal
Your lender will give you a Loan Estimate (LE) detailing your closing costs within three days of accepting your loan application. You'll get a Loan Estimate (LE) detailing 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 be within a precise range of accuracy, and I'll review the estimate and let you know if everything looks adequate.
Then we'll close on your house. This will probably happen at a title company or escrow office and will most likely be a smooth and easygoing affair.
Step 9 – Move in
Congratulations! Now you can move into your new house. Enjoy it. And if you need anything, just call me at (940) 325-2006 or e-mail me at .