Buying a new home in Mitchell with Lucas Indiana Realty and Home Services
Purchasing a home is a stressful event for many people. However, with a bit of up-front planning, it's not that confusing.
I like to provide buyers with an overview of the entire deal so they know exactly what they can expect.
These are my nine steps to buying a home.
When you're ready to get started, you can contact me here or e-mail me at . I'm glad to answer any questions you have about this information.
Step 1 – Get ready to buy
There are many things you'll want to contemplate before beginning your home search.
When you start your search, you'll want to assemble a checklist of items you need, get a plan of what school districts you want to live in, and begin planning your budget.
Ensuring your mortgage payment is no more than a third of your net monthly income is a good rule to go by.
Step 2 – Contact a real estate agent
This is where I can help.
I'd like to schedule a time to meet with you and speak with you regarding your real estate needs and get an idea of your plans for the future.
We'll talk about the mortgage and housing industries, other economic factors that might affect your purchase today or in the future, as well as neighborhoods and school districts in the Mitchell area.
In addition, I'll help you facilitate the loan process.
There are some excellent mortgage professionals in Mitchell, and I work with a lot of them, so you'll be in great hands.
They can assist you with determining which type of loan is best for you and help you get qualified.
Step 3 – Begin house-hunting
Following our initial meeting, I'll start searching for available homes on the market that are great for you.
I'll preview many of the houses and eliminate the duds, and then we'll set up appointments to view the houses when it's convenient for you.
As we view homes, I'll point out positive features, as well as negative ones. I'll also ask you what things you like and don't like.
Frequently, buyers change their wish list as we view homes and some features become far more crucial than others.
If that's the situation, I'll go back through all the listings one more time and trim it down to the home you've been dreaming about.
Step 4 – Understand the market
My awareness of the Mitchell market is a fundamental aspect in your home search. I'm acquainted with all the school districts and neighborhoods, and I will alert you to which neighborhoods are "hot" and demand prompt action and others that are "cold" and allow for more examination.
When we tour houses, I'll be sure to tell you if the list price has room for negotiation or if I believe the home is "priced to sell."
When working with an agent, be mindful and make sure you ask lots of questions. Any REALTOR will tell you they know the home market.
If things don't add up, contact me at 8128494663 or e-mail me at , and I'd be more than happy to answer any questions you may have. My knowledge of the market will keep you a step above the rest through the entire process.
Step 5 – Find your dream house
We'll find the home of your dreams in Mitchell, and when that happens, I'll precisely create your real estate purchase offer. The offer will be tailored to suit your needs and the home, including a lot of contingencies, such as getting financing, completing the home inspection, and a clear title.
When sending in your offer, you'll likely want to submit "earnest money." This is a cash deposit made to a home seller to secure the offer to purchase the property, and it's often applied to the cost of closing. If the offer is accepted by the seller, we should close on the property about 30 to 60 days afterward. This allows ample time for your mortgage financing.
Step 6 – Negotiate the deal
Most deals don't close on the beginning offer, and it's extremely common to receive a counter offer. But don't let it alarm you. We'll consider whether or not to take the counter offer, submit our own counter offer, or refuse the seller's offer and move on.
Market circumstances determine how aggressively we negotiate the contract.
In addition, we'll work within your financing budget. And when it's all said and done, we'll create a contract that's best for you.
Step 7 – Get your loan
After the contract is complete, you'll begin working with your lender to close the loan.
If you're already pre-qualified, this won't take long at all, but you'll want to stay in close contact with your mortgage lender.
And I'll handle all the property information your lender needs to close the loan.
Step 8 – Close the deal
You'll get a Loan Estimate (LE) of closing costs from your lender within three days of accepting your application.
This estimate is based on the loan amount. RESPA requirements dictate that it has to involve all closing costs and be within a close 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 easygoing occasion.
Step 9 – Move in
Congratulations! It's time to move into your new home. Enjoy it. And if you need anything, just contact me at 8128494663 or e-mail me at .