Buying your new home in Mitchell with Lucas Indiana Realty

Buying a home is a stressful event for most people, but it isn't too difficult with a bit of planning ahead of time. I like to give buyers a road map of the entire deal so they know exactly what to expect. Here are my nine steps to buying a home. When you're ready to get started, simply contact me here or e-mail me at . I'm glad to address questions you have regarding this information.

Step 1 – Prepare to purchase
There are many things you'll want to do before you start looking for a home. You'll probably want to create a check list of items you want to have, get a feel for what neighborhoods you want to live in, and start planning your budget. A good rule of thumb to go by is that your mortgage payment should be close to 30 percent of your monthly income.

Step 2 – Connect with a real estate agent in Mitchell
This is where Lucas Indiana Realty can help. I'd be more than happy to schedule a time to meet with you and communicate with you regarding your real estate needs and get an idea of your plans for the future. We'll talk about everything from neighborhoods, schools in the Mitchell area, the mortgage and housing industries, to any other economic factors that might affect your purchase today or in the future.

I'll also help you begin the loan process. Lucas Indiana Realty works with some of the best mortgage professionals in Mitchell, so you'll be in great hands. They can assist you in figuring out which kind of loan is best for you and help you get approved.

Step 3 – Begin your home search
After our initial meeting, I'll begin looking for houses on the market that are a great fit for you. I'll research most of the houses and ignore the duds, and then we'll set up appointments to view the homes at a time that's convenient for you.

When we tour homes, I'll point out positive features, as well as negative ones. And I'll ask you to talk about things you like and dislike. Most often, buyers revise their list of must-haves as we tour homes and some features become more crucial than others. If that's the case, I'll search all the listings once again and narrow it down to the house you've been wishing for.

Step 4 – Understand the housing market
My knowledge of the Mitchell home market is a fundamental factor in your home search. I'm familiar with all the schools and neighborhoods, and I will alert you to which neighborhoods are "hot" and demand prompt action and the ones that are "cool" and allow for more analysis.

When we view homes, I'll make sure to communicate when the list price has room for bargaining and when I know the home is "priced to sell." Be careful and be sure to ask your agent a lot of questions, as any real estate agent in Mitchell will tell you they truly understand the home market. If things don't add up, call me at 8128494663 or e-mail me at , and I'd be happy to answer any questions you have. My understanding of the market will help you stay a step ahead through the entire process.

Step 5 – Find your dream home
We'll find the home of your dreams in the Mitchell area, and when we do, I'll precisely create your real estate purchase offer. The offer will be tailored with your needs in mind and the home, including a lot of contingencies. A few examples are obtaining financing, finishing the inspection, and a clean title.

Upon presenting your offer, you'll probably want to submit "earnest money." This is a cash deposit given to a seller to secure the offer to buy the property and is often applied to the cost of closing. If the seller accepts your offer, we should close within 30 to 60 days after. This allows sufficient time for your mortgage financing.

Step 6 – Negotiate
A lot of contracts aren't closed on the beginning offer – it's very common to receive a counter offer. But don't let it intimidate you. We'll consider whether or not to consent to the counter offer, propose our own counter offer, or decline the seller's offer and go on.

Market circumstances will play a vital role in how aggressively we negotiate the deal. We'll also work within your budget. And when it's all said and done, we'll compose a deal that's best for you.

Step 7 – Secure your loan
After the contract is finalized, you'll begin working with your mortgage lender to close the loan. If you're already pre-approved, it won't take much time at all, but you'll want to keep in close contact with your lender. And I'll take care of all the property information your lender will need to close the loan.

Step 8 – Close the deal
Your lender will send you a Loan Estimate (LE) outlining your closing costs within three days of taking your application. You'll get a Loan Estimate (LE) of your closing costs from your lender within three days of getting your application. The estimate depends on the loan amount, and RESPA requirements require that it has to contain all closing costs and be within a tight range of accuracy. I'll review the estimate and let you know if everything looks all right.

Then it's time to close on your house. This will most likely occur at a title company or escrow office and should be a smooth and relaxing occasion.

Step 9 – Move in
Congratulations! Now you can move into your new house. Enjoy it. And if you need anything, make sure you call me at 8128494663 or e-mail me at .