Buying a new home in Mineral Wells
Purchasing a home is stressful for many people. However, with a little planning ahead of time, it's not too complicated.
I like to supply buyers with an overview of the whole deal so they'll understand exactly what they can expect.
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 regarding this information.
Step 1 – Get ready to buy a home
Before you start searching for a home, there are plenty of things you'll want to take into account.
You'll probably want to create an outline of features you want to have, plan for what school districts and neighborhoods you'd like to live in, and start working on your budget.
Keeping your mortgage payment less than or close to a third of your monthly income is a good rule to adhere to.
Step 2 – Talk to a real estate agent in Mineral Wells
This is where Ender & Associates Realty comes in.
We can arrange a time to meet so we can talk about your real estate needs and get an idea of your plans for the future.
We'll discuss the mortgage and housing industries, other economic factors that might affect your buying decision today or in the future, as well as neighborhoods and schools in the Mineral Wells area.
In addition, I'll assist you in getting started on your loan.
There are some very good mortgage professionals in Mineral Wells, and I work with a lot of them, so you'll be in great hands.
They will help you figure out which kind of loan is best for you, as well as help you get approved.
Step 3 – Begin looking
After our initial meeting, I'll start searching for houses on the market that are good for you.
I'll get a sneak peek of most of the homes and eliminate the duds, and then we'll schedule appointments to tour the homes when it's most convenient for you.
When we view the houses, I'll point out good features, as well as bad ones. I'll also ask you to point out what things you like and don't like.
It's common for buyers to amend their must-have list as we view houses and some things become more crucial than others.
If that happens, I'll go back through the listings once again and narrow it down to the house you've been dreaming about.
Step 4 – Understand the housing market
My awareness of the Mineral Wells market is a fundamental agent in your home search. I am familiar with all the schools and neighborhoods, and I'll alert you to which areas are "hot" and call for prompt action and others that are "cold" and allow for more analysis.
When we tour houses, I'll let you know when the asking price has room for bargaining and when I believe the house is "priced to sell."
Every REALTOR in Mineral Wells will convince you they comprehend the housing market, but be mindful, and make sure you ask lots of questions.
If things don't add up, call me at (940) 325-2006 or e-mail me at , and I'd be glad to answer any questions you have. My market expertise will help you stay a step above the rest through the entire deal.
Step 5 – Find the house you've been looking for
I'm confident we'll find your dream house in Mineral Wells. When that happens, I'll meticulously create your home purchase offer. The offer will be tailored with your needs in mind and the home, including many contingencies, such as obtaining financing, completing the inspection, and a clean title.
When turning in your offer, you'll want to present "earnest money." This is a cash deposit made to a home seller to secure an offer to purchase the property, and it's usually put towards the cost of closing. If the offer is accepted, we should close on the property about 30 to 60 days afterward. This allows ample time for your mortgage financing.
Step 6 – Negotiate the deal
Most deals don't close on the initial offer – it's extremely common to receive a counter offer. Don't let this discourage you. We'll talk about whether or not to take the counter offer, present our own counter offer, or decline the seller's offer and move on.
How aggressively we negotiate the deal depends on the state of the market.
In addition, we'll work within your financing limits. And when it's all said and done, we'll assemble a deal that is best for you.
Step 7 – Secure financing
Once the contract is complete, you'll start working with your lender to close the loan.
If you've been pre-qualified, it won't take much time at all, but you'll want to keep in close contact with your lender.
And I'll deal with all the property information your lender will need to close the loan.
Step 8 – Close the deal
Your mortgage lender will provide you with a Loan Estimate (LE) detailing closing costs within three days of accepting your loan application. You'll get a Loan Estimate (LE) detailing closing costs from your lender within three days of accepting your application.
This estimate rests on the loan amount. RESPA requirements dictate that it has to include all closing costs and fall within a precise range of accuracy, and I'll go over the estimate and let you know if it all looks okay.
Then we'll close on your house. This will probably happen at a title company or escrow office and should be a smooth and calm occasion.
Step 9 – Move in
Congratulations! Now you can 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 .