Let Lucas Indiana Realty assist you with purchasing your home in Mitchell
With some planning ahead of time, purchasing a home isn't all that confusing, but the event intimidates many people.
I like to supply buyers with an outline of the whole deal so they'll know exactly what to expect.
Below 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 questions you have about this information.
Step 1 – Get ready to purchase
There are several things you need to contemplate before you search for a home.
You'll want to assemble a list of must-have features, get a feel for what neighborhoods you want to live in, and begin working on your budget.
A good guideline to adhere to is that your mortgage payment should be around 1/3 of your net monthly income.
Step 2 – Contact a real estate agent in Mitchell
This is where I come in.
I'd be happy to book a time to meet with you and talk about your real estate needs and get an idea of your upcoming plans.
We'll talk about the mortgage industry, other economic factors that could affect your buying decision today or in the future, as well as neighborhoods and school districts in the Mitchell area.
In addition, I'll help you get started on your loan.
There are some very good mortgage professionals in Mitchell, and I work with a lot of them, so you can rest assured that you're in great hands.
They'll help you determine which kind of loan is best for you, as well as help you get approved.
Step 3 – Start looking
Following our initial meeting, I'll start searching for houses on the market that are a great fit for you.
I'll preview most of the homes and exclude the bad ones, and then we'll book appointments to tour the homes at a time that's convenient for you.
When we tour the houses, I'll identify positive features and bad ones. I'll even ask you about things you like and dislike.
It's widely common for buyers to update their list of must-haves as we view houses and some items become far more essential than others.
If such is the case, I'll look through all the listings one more time and narrow it down to the house you've been wishing for.
Step 4 – Comprehend the housing market
Your agent's knowledge of the Mitchell market is a leading element in your house search. And I assure you I'm informed of all the school districts and neighborhoods, and I can alert you to which neighborhoods are "hot" and warrant prompt action and some that are "cold" and allow for careful analysis.
When we tour homes, I'll make sure to communicate when the seller's asking price has room for bargaining and also when I believe the home is "priced to sell."
When working with an agent, be careful and be sure to ask a lot of questions. Any REALTOR will tell you they understand the housing market.
If it appears they don't know everything, just call me at 8128494663 or e-mail me at , and I'll be happy to answer your questions. My knowledge of the market will help you stay a step ahead through the entire deal.
Step 5 – Find the home of your dreams
I'm sure we'll find the home of your dreams in Mitchell. When that happens, I'll thoroughly develop your real estate purchase offer. The offer will be tailored keeping your needs in mind and the home, including a lot of contingencies, such as acquiring financing, completing the inspection, and a clean title.
When sending in your offer, most likely you'll want to submit "earnest money." This is a cash deposit given to a home seller to secure an offer to buy the property. The amount is usually put towards the closing costs. If your offer is accepted, we should close about 30 to 60 days afterward. This allows ample time for your mortgage financing.
Step 6 – Negotiate
A lot of contracts don't close on the first offer, and it's really common to receive a counter offer. Don't let this alarm you. We'll consider whether or not to accept the counter offer, present our own counter offer, or refuse the seller's offer and move on.
How aggressively we negotiate the contract depends on the state of the market.
In addition, we'll work within your financing limits. And when it's all said and done, we'll create a contract that is best for you.
Step 7 – Obtain a loan
Once the deal is finished, 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 should to keep in close contact with your lender.
And I'll handle all the property information your mortgage lender needs to close the loan.
Step 8 – Close the deal
Your lender will provide you with a Loan Estimate (LE) detailing closing costs within three days of accepting your loan application. You'll get a Loan Estimate (LE) detailing closing costs from your mortgage lender within three days of taking your application.
The estimate depends on the loan amount. RESPA requirements dictate that it has to involve all closing costs and be within a narrow range of accuracy, and I'll study the estimate and let you know if everything looks permissible.
Then we'll close on your house. This will most often happen at a title company or escrow office and will most often be a smooth and peaceful occurrence.
Step 9 – Move in
Congratulations! It's time to move into your new home. Enjoy it. And if you need anything, be sure to contact me at 8128494663 or e-mail me at .