Purchasing your home in Mitchell
Buying a home is intimidating for most people, but with some planning ahead of time, it isn't very complicated.
I like to furnish buyers with an outline of the entire deal so they'll understand exactly what they can expect.
Here are my nine steps to purchasing a home.
When you're ready to get started, you can contact me here or e-mail me at . I'm happy to address any questions you have about this information.
Step 1 – Get ready to purchase a home
Prior to starting your home search, there are many things you need to consider.
When you start your search, you'll probably want to create a check list of features you want to have, get a feel for what school districts you'd like to live in, and begin working on your budget.
Ensuring your mortgage payment is less than or around 30 percent of your monthly income is a good rule to go by.
Step 2 – Connect with a real estate agent in Mitchell
This is where I come in.
We'll plan a time to meet so we can talk about 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 could affect your buying decision today or in the future.
I can also assist you with getting started on your loan.
There are some excellent mortgage professionals in Mitchell, and I partner with a lot of them, so you're in great hands.
They can help you decide which kind of loan is best for you, as well as help you get approved.
Step 3 – Begin house-hunting
After our initial meeting, I'll start finding available houses on the market that are a great fit for you.
I'll preview many of the homes and reject the duds, and then we'll set up appointments to view the houses whenever it's most convenient for you.
When we tour the houses, I'll show you the positive features, as well as bad ones. I'll also ask you to tell us about things you like and don't like.
It's widely common for buyers to update their wish list as we tour houses and some things become more substantial than others.
If that happens, I'll look through the listings once again and trim it down to the home of your dreams.
Step 4 – Understand the housing market
Your agent's awareness of the Mitchell home market is a fundamental agent in your house search. And I can assure you I'm acquainted with all the school districts and neighborhoods, and I can communicate what areas are "hot" and call for prompt action and the ones that are "cold" and allow for more consideration.
As we view homes, I'll let you know if the seller's list price has room for negotiation or if I believe the home is "priced to sell."
Be mindful and make sure you ask plenty of questions, as every REALTOR in Mitchell will tell you they truly understand the housing market.
If things don't add up, just call me at 8128494663 or e-mail me at , and I'd be happy to answer any questions you might have. My knowledge of the market will keep you a step above the rest through the entire process.
Step 5 – Find your dream home
We'll find your dream house in the Mitchell area, and when we do, I'll thoroughly create your purchase offer. The offer will be tailored to suit your needs and the home, including a lot of contingencies, such as acquiring financing, carrying out the home inspection, and a clean title.
When sending in your offer, most likely you'll want to present "earnest money." This is a cash deposit given to a seller to secure an offer to buy the property. The amount is often applied to the closing costs. If your offer is accepted, we should close about 30 to 60 days after. This allows enough time for your mortgage financing.
Step 6 – Negotiate the deal
A lot of deals aren't closed on the first offer. It's really common to receive a counter offer. But don't let it alarm you. We'll talk about whether or not to accept the counter offer, submit our own counter offer, or reject the seller's offer and go on.
Market conditions will play a vital role in how aggressively we negotiate the deal.
In addition, we'll work within your financing limits. And at the end of the day, we'll formulate a deal that is best for you.
Step 7 – Secure a loan
Once the contract is finalized, you'll start working with your mortgage lender to close the loan.
This won't take much time at all if you've been pre-approved, but you'll need to stay in close contact with your mortgage lender.
And I'll look after all the property information your mortgage lender needs to close the loan.
Step 8 – Close the deal
Your lender will supply you with a Loan Estimate (LE) of your closing costs within three days of taking 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 is based on the loan amount, and RESPA requirements dictate that it has to contain all closing costs and be within a precise range of accuracy. I'll study the estimate and let you know if everything looks permissible.
Then we'll close on your home. This will most likely take place at a title company or escrow office and will probably be a smooth and relaxed affair.
Step 9 – Move in
Congratulations! It's time to move into your new house. Enjoy it. And if you have any questions, be sure to contact me at 8128494663 or e-mail me at .