Are you contemplating buying your new home in Mitchell? Lucas Indiana Realty and Home Services can help.
With some up-front planning, purchasing a home isn't too confusing, but the event is intimidating for many people.
I like to provide buyers with an overview of the entire deal so they'll understand exactly what they can expect.
These are my nine steps to buying a home.
When you're ready to get started, just contact me here or e-mail me at . I'm happy to address questions you have about this information.
Step 1 – Get ready to purchase a home
There are plenty of things you should consider before you start searching for a home.
When you start your search, you'll want to assemble a list of must-haves, get a feeling for what neighborhoods you'd like to live in, and start planning around your budget.
Ensuring your mortgage payment is no more than 30 percent of your monthly income is a good rule of thumb to go by.
Step 2 – Speak with a real estate agent
This is where Lucas Indiana Realty and Home Services comes in.
We'll set up a time to get together so we can talk about your real estate needs and get an idea of your plans for the future.
We'll discuss everything from neighborhoods, schools in the Mitchell area, the mortgage and housing industries, to any other economic factors that may potentially affect your purchase today or in the future.
In addition, I'll assist you with getting started on your loan.
I work with some of the finest mortgage professionals in Mitchell, so you're in great hands.
They'll assist you with determining which kind of loan is best for you and help you get qualified.
Step 3 – Begin looking for a house
Following our first meeting, I'll start looking for available homes on the market that meet your needs.
I'll research many of the houses and throw out the duds, and then we'll schedule appointments to view the houses whenever it's most convenient for you.
As we tour houses, I'll identify good features and bad ones. And I'll ask you what things you like and don't like.
Most often, buyers amend their wish list as we view homes and some features become far more substantial than others.
If such is the case, I'll look through the listings again and trim it down to the house you've been wishing for.
Step 4 – Comprehend the market
My awareness of the Mitchell housing market is a leading factor in your home search. I'm mindful of all the neighborhoods and schools, and I can alert you to certain districts are "hot" and demand immediate action and some that are "cool" and allow for thoughtful analysis.
As we tour houses, I'll let you know when the list price has room for bargaining and when I know the house is "priced to sell."
Trust your instincts and make sure you ask a lot of questions, as any REALTOR will convince you they understand the housing market.
If it doesn't seem like they know everything, call me at 8128494663 or e-mail me at , and I'd be glad to answer any questions you may have. My knowledge of the market will help you stay a step ahead through the entire process.
Step 5 – Find the house you've been looking for
We'll find the house of your dreams in Mitchell, and when that happens, I'll precisely create your real estate purchase offer. The offer will be made to suit your needs and the home. We'll include some contingencies, such as obtaining financing, completing the inspection, and a clean title.
When turning in your purchase offer, you'll need to present "earnest money." This is a cash deposit given to a seller to secure the offer to purchase the property. The amount is often put towards the cost of closing. If the seller accepts the offer, we should close about 30 to 60 days after. This allows sufficient time for your mortgage financing.
Step 6 – Negotiate the deal
A lot of contracts aren't closed on the beginning offer – it's extremely common to receive a counter offer. Don't let it intimidate you. We'll figure out whether or not to consent to the counter offer, propose our own counter offer, or reject the seller's offer and move on.
How aggressively we negotiate the contract depends on market conditions.
We'll also work within your financing constraints. And when it's all said and done, we'll create a deal that is best for you.
Step 7 – Get your loan
Once the contract is complete, you'll start working with your lender to close the loan.
If you're already pre-approved, it won't take long at all, but you need to stay in close contact with your lender.
And I'll deal with all the property information your 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 getting your application.
This estimate is formed from the loan amount. RESPA requirements order that it has to contain all closing costs and fall within a strict range of accuracy, and I'll examine the estimate and let you know if it all looks permissible.
Then we'll close on your home. This will probably occur at a title company or escrow office and will probably be a smooth and comfortable affair.
Step 9 – Move in
Congratulations! Now you can move into your new house. Enjoy it. And if you need anything, make sure you contact me at 8128494663 or e-mail me at .