Contemplating purchasing a new home in Mitchell?

Purchasing a home is stressful for most people. However, with some up-front planning, it's not very hard. So they'll understand exactly what they can expect, I will supply buyers with a road map of the whole deal. Here are my nine steps to purchasing a home. When you're ready to get started, simply contact me here or e-mail me at . I'm happy to answer any questions you have about this information.

Step 1 – Prepare to purchase a home
Before you start looking for a home, there are many things you should take into account. When you begin your search, you'll probably want to assemble a check list of items you need to have, get a feeling for what neighborhoods and school districts you want to live in, and begin planning around your budget. A good rule to follow is that your mortgage payment should be a third of your net monthly income.

Step 2 – Speak with a real estate agent
This is where Lucas Indiana Realty and Home Services can help. We'll book a time to meet so we can talk about why you want to buy a home and get an idea of your future plans. We'll discuss everything from neighborhoods, school districts in the Mitchell area, the mortgage industry, to any other economic factors that could potentially affect your purchase today or in the future.

In addition, I'll help you begin the loan process. There are some excellent mortgage professionals in Mitchell, and I partner with a lot of them, so you can rest assured that you're in great hands. They can help you decide which kind of loan is best for you, as well as help you get qualified.

Step 3 – Begin looking
After our initial meeting, I'll begin finding houses on the market that meet your needs. I'll research most of the homes and eliminate the duds, and then we'll schedule appointments to tour the homes whenever it's convenient for you.

As we tour homes, I'll identify good features, as well as negative ones. I'll even ask you to point out what things you like and don't like. For the most part, buyers revise their list of must-haves as we view houses and some features become more essential than others. If that's the situation, I'll search the listings again and narrow it down to the house of your dreams.

Step 4 – Comprehend the housing market
An agent's understanding of the Mitchell housing market is an essential element in your home search. And I assure you I'm familiar with all the neighborhoods and school districts, and I'll let you know what areas are "hot" and call for prompt action and others that are "cool" and allow for thoughtful analysis.

As we tour houses, I'll make sure to communicate if the asking price has room for negotiation or if I believe the house is "priced to sell." When working with an agent, be on guard and be sure to ask plenty of questions, as every real estate agent will claim to truly understand the home market. If things don't add up, call me at 8128494663 or e-mail me at , and I'd be glad to answer your questions. My market expertise will help you stay a step ahead throughout the entire deal.

Step 5 – Find the house you've been waiting for
We'll find your dream home in Mitchell, and when that happens, I'll thoroughly develop your real estate purchase offer. The offer will be tailored exactly to your needs and the home, including a lot of contingencies, such as obtaining financing, carrying out the inspection, and a clean title.

Upon presenting your purchase offer, you'll likely need to submit "earnest money." This is a cash deposit submitted to the home seller to secure an offer to buy the property and is typically applied to the cost of closing. If your offer is accepted, we should close within 30 to 60 days after. This allows plenty of time for your mortgage financing.

Step 6 – Negotiate the deal
A lot of deals don't close on the initial offer, and it's very common to receive a counter offer. But don't let this intimidate you. We'll talk over whether or not to accept the counter offer, propose our own counter offer, or refuse the seller's offer and go on.

How aggressively we negotiate the deal depends on market conditions. We'll also work within your budget. And when it's all said and done, we'll formulate a deal that works well for you.

Step 7 – Obtain a loan
After we sign the final contract, you'll start working with your lender to close the loan. If you're already pre-qualified, this won't take much time at all, but you'll want to keep in close contact with your mortgage lender. And I'll take care of all the property information your mortgage lender needs to close the loan.

Step 8 – Close the deal
You'll get a Loan Estimate (LE) of your closing costs from your lender within three days of accepting your loan application. This estimate is formed from the loan amount, and RESPA requirements require that it has to involve all closing costs and fall within a strict range of accuracy. I'll review the estimate and let you know if everything looks permissible.

Then it's time to close on your home. This will most likely happen at a title company or escrow office and should be a smooth and hassle-free affair.

Step 9 – Move in
Congratulations! It's time to move into your new home. Enjoy it. And if you need anything or have any questions, just contact me at 8128494663 or e-mail me at .