Let Lucas Indiana Realty and Home Services assist you in purchasing a new home in Mitchell
With a little up-front planning, buying a home isn't very complicated, but the event is intimidating for many people.
I like to furnish buyers with an outline of the whole deal so they'll know exactly what to expect.
These are my nine steps to purchasing a home.
Should you have questions regarding this information or if you're prepared to get started, you can contact me here or e-mail me at .
Step 1 – Prepare to purchase a home
There are many things you'll want to contemplate prior to commencing your home search.
When you begin your search, you'll want to assemble a list of features you need, get a plan of what school districts and neighborhoods you'd like to live in, and begin working on your budget.
A good principle to follow is that your mortgage payment should be close to a third of your monthly income.
Step 2 – Get in touch with a real estate agent in Mitchell
That's where I come in.
I'd be happy to set up a time to get together with you and speak with you about your real estate needs and get an idea of your upcoming plans.
We'll discuss the mortgage and housing industries, other economic factors that could potentially affect your purchase today or in the future, as well as neighborhoods and schools in the Mitchell area.
I can also assist you with getting started on your loan.
There are some very good mortgage professionals in Mitchell, and I work with a lot of them, so you're in great hands.
They will assist you in determining which type of loan is best for you and help you get approved.
Step 3 – Begin house hunting
After our first meeting, I'll start looking for houses on the market that are a good fit for you.
I'll get a sneak peek of most of the houses and throw out the duds, and then we'll book appointments to view the homes whenever it's most convenient for you.
As we view the houses, I'll identify good features, as well as negative ones. I'll also ask you to tell us about things you like and don't like.
It's pretty common for buyers to change their list of must-haves as we view houses and some features become more essential than others.
If such is the case, I'll search all the listings again and narrow it down to the house of your dreams.
Step 4 – Understand the market
My awareness of the Mitchell home market is an imperative factor in your house search. I am informed of all the school districts and neighborhoods, and I can communicate some neighborhoods are "hot" and demand immediate action and others that are "cold" and allow for more examination.
When we tour houses, I'll make sure to communicate if the asking price has room for bargaining or if I believe the home is "priced to sell."
Any real estate agent will convince you they know the home market, but keep an eye out, and be sure to ask lots of questions.
If things don't add up, just call me at 8128494663 or e-mail me at , and I'd be more than happy to answer any questions you might have. My market knowledge will help you stay a step above the rest throughout the entire process.
Step 5 – Find your dream house
I'm certain we'll find your dream home in the Mitchell area. When we do, I'll thoroughly create your home purchase offer. The offer will be made to fit your needs and the home. We'll include many contingencies, such as obtaining financing, completing the inspection, and a clean title.
When presenting your offer, you'll likely need to submit "earnest money." This is a cash deposit submitted to a seller to secure the offer to purchase the property and is usually applied to the cost of closing. If your offer is accepted by the seller, we should close on the home within 30 to 60 days after. This allows necessary time for your mortgage financing.
Step 6 – Negotiate the deal
Most deals don't close on the first offer, and it's really common to receive a counter offer. Don't let this discourage you. We'll consider whether or not to take the counter offer, present our own counter offer, or decline the seller's offer and go on.
The state of the market determines how aggressively we negotiate the contract.
In addition, we'll work within your financing limits. And at the end of the day, we'll put together a deal that's best for you.
Step 7 – Secure financing
After we sign the final deal, you'll start working with your mortgage lender to close the loan.
It won't take very long at all if you're already pre-approved, but you'll need to stay in close contact with your mortgage lender.
And I'll manage all the property information your lender will need to close the loan.
Step 8 – Close the deal
Your lender will give you a Loan Estimate (LE) outlining your 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 getting your loan application.
This estimate depends on the loan amount, and RESPA requirements order that it has to involve all closing costs and fall within a narrow range of accuracy. I'll review the estimate and let you know if it all looks good.
Then we'll close on your house. This will probably happen at a title company or escrow office and will likely be a smooth and easygoing event.
Step 9 – Move in
Congratulations! Now you can 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 .