For most people, buying a home can be a stressful event. But with a bit of up-front planning, it isn't all that complicated.
So you know exactly what to expect, I like to give my buyers an overview of the entire 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 steve@exitallstarsonline.com. I'm glad to address any questions you have about this information.
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Step 1 – Get ready to buy a home
There are a lot of things you should contemplate prior to starting your home search.
When you start your search, you'll probably want to put together a check list of features you want to have, get an idea of what school districts you'd like to live in, and begin planning your budget.
Ensuring your mortgage payment is less than or close to 1/3 of your monthly income is a good principle to follow.
Step 2 – Contact a real estate agent
This is where Parker Peery Properties comes in.
I'd be more than happy to plan a time to meet with you and talk about your real estate needs and get an idea of your upcoming plans.
We'll discuss everything from neighborhoods, schools in the Dickson area, the mortgage and housing industries, to any other economic factors that may 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 Dickson, and I partner with a lot of them, so you're in great hands.
They'll help you determine which type of loan is best for you, as well as help you get qualified.
Step 3 – Start your search
After we meet, I'll begin looking for available homes on the market that meet your needs.
I'll preview many of the homes and eliminate the duds, and then we'll schedule appointments to view the homes at a time that's convenient for you.
As we view the houses, I'll call attention to good features and negative ones. And I'll ask you about things you like and dislike.
As a rule, buyers revise their wish list as we view homes and some items become far more crucial than others.
If that happens, I'll search all the listings one more time and narrow it down to the home you've been dreaming about.
Step 4 – Know the market
My knowledge of the Dickson housing market is a fundamental asset in your home search. I am familiar with all the school districts and neighborhoods, and I'll communicate some areas are "hot" and call for prompt action and others that are "cool" and allow for thoughtful examination.
When we view homes, I'll make sure to communicate when the asking price has room for bargaining and when I know the home is "priced to sell."
When working with an agent, be mindful and make sure you ask plenty of questions. Any REALTOR® will convince you they understand the housing market.
If it doesn't seem like they know everything, call me at 615-446-1884--ext 15 or e-mail me at steve@exitallstarsonline.com, and I'll be happy to answer your questions. My understanding of the market will keep you a step ahead through the entire deal.
Step 5 – Find the house you've been looking for
We'll find your dream home in Dickson, and when that happens, I'll thoroughly develop your real estate purchase offer. The offer will be written keeping your needs in mind. Whenever necessary, I never forget to make contracts contingent upon items like your ability to secure financing and the results of the home inspection.
When sending in your offer, you'll need to present "earnest money." This is a cash deposit made to a home seller to secure the offer to purchase the property and is often applied to the cost of closing. If the offer is accepted by the seller, we should close about 30 to 60 days after. This allows plenty of time for your mortgage financing.
Step 6 – Negotiate
Most contracts aren't closed on the initial offer. It's really common to receive a counter offer. But don't let this alarm you. We'll figure out 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 circumstances.
We'll also work within your financing budget. And at the end of the day, we'll compose a deal that works well for you.
Step 7 – Obtain a loan
Upon finishing the deal, you'll begin working with your mortgage lender to close the loan.
If you've been pre-qualified, this shouldn't take much time at all, but you need 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
You'll get a Good Faith Estimate (GFE) of closing costs from your mortgage 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 narrow range of accuracy, and I'll review the estimate and let you know if everything looks permissible.
Then we'll close on your home. This will probably take place at a title company or escrow office and will probably be a smooth and easygoing occurrence.
Step 9 – Move in
Success! It's time to move into your new home. Enjoy it. And if you need anything or have any questions, just call me at 615-446-1884--ext 15 or send me an e-mail.