Buying a home can be stressful for many people, but it's not that complicated with some planning ahead of time.
So you understand exactly what to expect, I like to give my buyers an overview of the whole deal.
These are my nine steps to buying a home.
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When you're ready to get started, just contact me here or send e-mail to beth@Bethenos.com. I'm happy to answer any questions you have about this information.
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Step 1 – Prepare to purchase
There are plenty of things you need to consider prior to commencing your home search.
You'll want to form a list of features you want, get a feel for what neighborhoods you'd like to live in, and start planning your budget.
Keeping your mortgage payment around 1/3 of your monthly income is a good rule of thumb to adhere to.
Step 2 – Get in touch with a real estate agent in So. Easton
This is where I can help.
We'll plan a time to get together so we can talk about why you want to buy a home and get an idea of your plans for the future.
We'll discuss everything from neighborhoods, school districts in the So. Easton area, the mortgage industry, to any other economic factors that might affect your purchase today or in the future.
I'll also help you get started on your loan.
Beth Enos Realty Group partners with some of So. Easton's finest mortgage professionals, so you can rest assured that you're in great hands.
They'll help you figure out which type of loan is best for you, as well as help you get qualified.
Step 3 – Begin your search
After our first meeting, I'll start searching for homes on the market that meet your needs.
I'll get a sneak peek of many of the homes and eliminate the bad ones, and then we'll set up appointments to tour the houses whenever it's most convenient for you.
When we view the homes, I'll call attention to good features, as well as bad ones. I'll also ask you to tell us about things you like and don't like.
Most often, buyers revise their list of must-haves as we tour homes and some features become more necessary than others.
If that happens, I'll look through all the listings one more time and trim it down to the house you've been dreaming about.
Step 4 – Get a feel for the market
My knowledge of the So. Easton housing market is a necessary asset in your home search. I am acquainted with all the neighborhoods and schools, and I will communicate certain neighborhoods are "hot" and require prompt action and the ones that are "cool" and allow for careful analysis.
As we view houses, I'll be sure to tell you if the seller's asking price has room for bargaining or if I believe the house is "priced to sell."
Any real estate agent in So. Easton will tell you they know the housing market, but be wary, and be sure to ask lots of questions.
If it seems like they don't know everything, just call me at (508)962-9433 or e-mail me at beth@Bethenos.com, and I'd be glad to answer any questions you may have. My market knowledge will help you stay a step ahead throughout the entire deal.
Step 5 – Find the home of your dreams
I know we'll find your dream home in the So. Easton area. When we do, I'll meticulously develop your real estate purchase offer. The offer will be tailored keeping your needs in mind, including a lot of contingencies, such as obtaining financing, completing the inspection, and a clean title.
Upon turning in your offer, most likely you'll want to submit "earnest money." This is a cash deposit given to a seller to secure an offer to purchase the property and is often applied to the cost of closing. If the seller accepts the offer, we should close on the property within 30 to 60 days afterward. This allows plenty of time for your mortgage financing.
Step 6 – Negotiate the deal
Unfortunately most contracts don't close on the first offer – it's very common to receive a counter offer. But don't let it alarm you. We'll consider whether or not to consent to the counter offer, present our own counter offer, or reject the seller's offer and move on.
Market circumstances will play a vital role in how aggressively we negotiate the deal.
We'll also work within your budget. And when it's all said and done, we'll create a contract that works well for you.
Step 7 – Secure your loan
After we sign the final contract, you'll start working with your mortgage lender to close the loan.
It shouldn't be a long process at all if you've been pre-qualified, but you'll need to keep in close contact with your mortgage lender.
And I'll manage all the property information your mortgage lender needs to close the loan.
Step 8 – Close the deal
You'll get a Good Faith Estimate (GFE) of closing costs from your lender within three days of getting your application.
The estimate is formed from the loan amount. RESPA requirements mandate that it has to contain all closing costs and fall within a strict range of accuracy, and I'll study the estimate and let you know if everything looks good.
Then it's time to close on your home. This will most likely occur at a title company or escrow office and will most likely be a smooth and comfortable affair.
Step 9 – Move in
Congratulations! Now you can move into your new home. Enjoy it. And if you need anything, make sure you call me at (508)962-9433 or send me an e-mail.
