Are you contemplating purchasing your home in Titusville?
Buying a home is a stressful event for a lot of people. However, with a little up-front planning, it's not too complex.
I like to furnish buyers with a road map of the entire deal so they understand exactly what they can expect.
Below 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 glad to address any questions you have regarding this information.
Step 1 – Get ready to purchase a home
There are a lot of things you need to contemplate before starting your home search.
You'll most likely want to put together a list of items you need to have, plan for what neighborhoods you'd like to live in, and start working on your budget.
A good rule to follow is that your mortgage payment should be no more than 1/3 of your net monthly income.
Step 2 – Communicate with a real estate agent
That's where I can help.
We can set up a time to get together so we can talk about your real estate needs and get an idea of your upcoming plans.
We'll talk about the mortgage and housing industries, other economic factors that may potentially affect your purchase today or in the future, as well as neighborhoods and schools in the Titusville area.
I'll also help you begin the loan process.
There are some great mortgage professionals in Titusville, and I work with a lot of them, so you'll be in great hands.
They will help you determine which type of loan is best for you, as well as help you get approved.
Step 3 – Start house-hunting
After our initial meeting, I'll begin searching for available houses on the market that are a great fit for you.
I'll preview many of the homes and remove the bad ones, and then we'll book appointments to tour the houses whenever it's convenient for you.
As we tour the houses, I'll point out good features, as well as bad ones. I'll even ask you about things you like and don't like.
Usually, buyers update their must-have list as we view homes and some things become more substantial than others.
If that happens, I'll search all the listings once more and narrow it down to the home you've been wishing for.
Step 4 – Understand the housing market
My awareness of the Titusville housing market is an essential component in your home search. I am acquainted with all the neighborhoods and schools, and I will let you know certain neighborhoods are "hot" and call for immediate action and some that are "cold" and allow for careful analysis.
When we tour houses, I'll be sure to tell you if the seller's asking price has room for negotiation or if I believe the house is "priced to sell."
When working with an agent, trust your instincts and be sure to ask plenty of questions, as every REALTOR in Titusville will convince you they truly understand the home market.
If things don't add up, call me at 321-268-8884 or e-mail me at , and I'll be happy to answer any questions you have. My knowledge of the market will help you stay a step ahead throughout the entire process.
Step 5 – Find the house you've been waiting for
We'll find the home of your dreams in the Titusville area, and when we do, I'll meticulously develop your purchase offer. The offer will be made to suit your needs and the home. We'll include several contingencies, such as getting financing, completing the home inspection, and a clear title.
Upon turning in your purchase offer, you'll need to submit "earnest money." This is a cash deposit given to a seller to secure an offer to purchase the property and is often put towards the closing costs. If the seller accepts your offer, we should close on the property about 30 to 60 days afterward. This allows enough time for your mortgage financing.
Step 6 – Negotiate the deal
A lot of deals don't close on the initial offer – it's pretty common to receive a counter offer. But don't let this alarm you. We'll figure out whether or not to consent to the counter offer, submit our own counter offer, or reject the seller's offer and move on.
Market conditions determine how aggressively we negotiate the contract.
We'll also work within your budget. And at the end of the day, we'll formulate a contract that's best for you.
Step 7 – Obtain a loan
Upon signing the deal, you'll start working with your mortgage lender to close the loan.
If you're already pre-approved, it shouldn't take very long at all, but you'll need to keep in close contact with your lender.
And I'll handle all the property information your lender needs to close the loan.
Step 8 – Close the deal
Your mortgage lender will supply you with a Loan Estimate (LE) detailing 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 taking your application.
This estimate is based on the loan amount. RESPA requirements require that it has to involve all closing costs and fall within a precise range of accuracy, and I'll go over the estimate and let you know if everything looks okay.
Then it's time to close on your home. This will likely occur at a title company or escrow office and should be a smooth and easygoing occasion.
Step 9 – Move in
Congratulations! It's time to move into your new home. Enjoy it. And if you need anything, make sure you call me at 321-268-8884 or e-mail me at .