Looking to buy a home in Mitchell? Lucas Indiana Realty and Home Services can help.
For most people, purchasing a home can be an intimidating event. But with a little planning ahead of time, it's not too complicated.
I like to provide buyers with an overview of the whole deal so they know exactly what to 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 happy to address any questions you have about this information.
Step 1 – Get ready to purchase a home
There are several things you should contemplate prior to starting your home search.
You'll most likely want to put together a list of items you want, plan for what school districts and neighborhoods you want to live in, and start planning your budget.
Ensuring your mortgage payment is less than 30 percent of your net monthly income is a good rule to adhere to.
Step 2 – Speak with a real estate agent
This is where Lucas Indiana Realty and Home Services comes in.
I'd be more than happy to schedule 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 Mitchell area, the mortgage industry, to any other economic factors that may affect your purchase today or in the future.
In addition, I'll help you start the loan process.
I partner with some of Mitchell's best mortgage professionals, so you can rest assured that you're in great hands.
They can assist you in figuring out which type of loan is best for you and help you get approved.
Step 3 – Start looking for a home
After we meet, I'll start finding available houses on the market that are good for you.
I'll research most of the homes and eliminate the duds, and then we'll set up appointments to tour the houses when it's convenient for you.
When we tour the homes, I'll identify positive features and negative ones. I'll even ask you about things you like and don't like.
It's widely common for buyers to revise their wish list as we view houses and some items become more substantial than others.
If that happens, I'll search all the listings again and narrow it down to the house of your dreams.
Step 4 – Comprehend the housing market
My knowledge of the Mitchell home market is a necessary factor in your house search. I'm mindful of all the neighborhoods and schools, and I can let you know which districts are "hot" and warrant prompt action and the ones that are "cold" and allow for more consideration.
When we view houses, I'll make sure to communicate when the asking price has room for negotiation and also when I think the house is "priced to sell."
Any real estate agent will convince you they truly know the market, but keep an eye out, and be sure to ask a lot of questions.
If it appears they don't know everything, just call me at 8128494663 or e-mail me at , and I'd be more than happy to answer any questions you have. My market knowledge will help you stay a step above the rest through the entire process.
Step 5 – Find the home of your dreams
We'll find your dream home in Mitchell, and when that happens, I'll precisely create your purchase offer. The offer will be tailored to suit your needs and the home, including several contingencies. A few examples are obtaining financing, finishing the inspection, and a clear title.
When turning in your offer, you'll probably want to submit "earnest money." This is a cash deposit made to the home seller to secure an offer to purchase the property and is typically applied to the closing costs. If your offer is accepted, we should close on the property within 30 to 60 days afterward. This allows enough time for your mortgage financing.
Step 6 – Negotiate the deal
Most deals don't close on the beginning offer, and it's widely common to receive a counter offer. But don't let this discourage you. We'll talk about whether or not to accept the counter offer, submit our own counter offer, or refuse the seller's offer and go on.
The state of the market determines how aggressively we negotiate the deal.
We'll also work within your budget. And at the end of the day, we'll compose a deal that's best for you.
Step 7 – Obtain your loan
Once we sign the final deal, you'll start working with your lender to close the loan.
If you're already pre-approved, this shouldn't take much time at all. But you'll want to keep in close contact with your lender.
And I'll look after all the property information your lender will need to close the loan.
Step 8 – Close the deal
Your mortgage lender will supply you with a Loan Estimate (LE) detailing your closing costs within three days of taking your loan application. You'll get a Loan Estimate (LE) outlining closing costs from your lender within three days of taking your loan application.
This estimate is based on the loan amount, and RESPA requirements require that it has to include all closing costs and be within a narrow range of accuracy. I'll study the estimate and let you know if it all looks good.
Then we'll close on your home. This should happen at a title company or escrow office and will likely be a smooth and hassle-free occasion.
Step 9 – Move in
Congratulations! Now you can move into your new house. Enjoy it. And if you need anything or have any questions, simply call me at 8128494663 or e-mail me at .