Are you looking to purchase a new home in Mitchell? Lucas Indiana Realty can help.
Purchasing a home is a stressful event for a lot of people. However, with some up-front planning, it's not very complicated.
So they'll understand exactly what to expect, I'll supply buyers with an overview of the whole deal.
These 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 happy to address any questions you have about this information.
Step 1 – Get ready to purchase a home
Before you start searching for a home, there are many things you'll want to do.
When you begin your search, you'll probably want to create a check list of features you want, plan for what school districts and neighborhoods you want to live in, and start planning your budget.
A good rule to adhere to is that your mortgage payment should be around 30 percent of your monthly income.
Step 2 – Connect with a real estate agent
This is where Lucas Indiana Realty comes in.
We can arrange a time to get together so we can talk about your real estate needs and get an idea of your plans for the future.
We'll talk about neighborhoods, schools in the Mitchell area, the mortgage industry, and any additional economic factors that might affect your purchase today or in the future.
In addition, I'll help you get started on your loan.
I work with some of Mitchell's best mortgage professionals, so you'll be in great hands.
They can assist you with deciding which kind of loan is best for you and help you get approved.
Step 3 – Start looking for a home
After we meet for the first time, I'll start searching for homes on the market that are a great fit for you.
I'll preview most of the houses and exclude the bad ones, and then we'll set up appointments to tour the homes whenever it's most convenient for you.
When we tour homes, I'll show you the good features, as well as bad ones. I'll also ask you about things you like and don't like.
It's pretty common for buyers to revise their must-have list as we view homes and some things become far more important than others.
If that's the situation, I'll look through all the listings once again and trim it down to the house you've been wishing for.
Step 4 – Comprehend the housing market
Your agent's understanding of the Mitchell home market is a leading agent in your home search. And I assure you I'm acquainted with all the neighborhoods and schools, and I can alert you to which districts are "hot" and require immediate action and the ones that are "cold" and allow for careful examination.
As we view homes, I'll let you know if the asking price has room for bargaining or if I believe the home is "priced to sell."
Be on guard and be sure to ask your agent a lot of questions, as every REALTOR will convince you they truly understand the market.
If it appears they don't know everything, contact me at 8128494663 or e-mail me at , and I'll be glad to answer any questions you might have. My market expertise will keep you a step above the rest throughout the entire deal.
Step 5 – Find the home you've been looking for
I'm positive we'll find your dream house in the Mitchell area. When we do, I'll thoroughly develop your real estate purchase offer. The offer will be made to suit your needs and the home. We'll include many contingencies, such as obtaining financing, completing the inspection, and a clear title.
Upon presenting your purchase offer, you'll likely need to present "earnest money." This is a cash deposit submitted to a home seller to secure an offer to buy the property. The amount is usually applied to the closing costs. If your offer is accepted, we should close within 30 to 60 days afterward. This allows plenty of time for your mortgage financing.
Step 6 – Negotiate the deal
Unfortunately most deals don't close on the first offer. It's very common to receive a counter offer. But don't let this discourage you. We'll figure out whether or not to take the counter offer, propose our own counter offer, or refuse the seller's offer and go on.
Market conditions determine how aggressively we negotiate the deal.
In addition, we'll work within your budget. And when it's all said and done, we'll formulate a deal that works well for you.
Step 7 – Obtain financing
Upon completion of the contract, you'll start working with your lender to close the loan.
This shouldn't take much time at all if you're pre-qualified, but you should to keep in close contact with your mortgage lender.
And I'll handle all the property information your mortgage lender needs to close the loan.
Step 8 – Close the deal
Your mortgage lender will provide you with a Loan Estimate (LE) outlining closing costs within three days of getting your application. You'll get a Loan Estimate (LE) outlining closing costs from your lender within three days of receiving your loan application.
This estimate rests on the loan amount, and RESPA requirements mandate that it has to involve all closing costs and fall within a narrow range of accuracy. I'll study the estimate and let you know if it all looks permissible.
Then it's time to close on your house. This will likely happen at a title company or escrow office and will likely be a smooth and stress-free affair.
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 .