Are you buying a home in Mitchell? Lucas Indiana Realty can help.
Purchasing a home is a stressful event for most people. However, with a bit of planning ahead of time, it isn't very complex.
So they know exactly what to expect, I like to provide buyers with an outline of the whole deal.
These 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 glad to answer questions you have about this information.
Step 1 – Prepare to buy a home
Before you begin searching for a home, there are many things you should consider.
When you begin your search, you'll probably want to put together a list of items you need to have, get a plan of what school districts you'd like to live in, and begin planning around your budget.
Keeping your mortgage payment less than or around 30 percent of your monthly income is a good guideline to adhere to.
Step 2 – Talk to 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 speak with you about your real estate needs and get an idea of your plans for the future.
We'll talk about neighborhoods, school districts in the Mitchell area, the mortgage and housing industries, and any other economic factors that could affect your purchase today or in the future.
In addition, I'll assist you in getting started on your loan.
There are some very good 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 qualified.
Step 3 – Begin house hunting
After our initial meeting, I'll start finding homes on the market that are good for you.
I'll get a sneak peek of most of the houses and eliminate the duds, and then we'll schedule appointments to view the homes when it's most convenient for you.
As we view homes, I'll call attention to positive features and bad ones. I'll even ask you to talk about things you like and dislike.
It's common for buyers to revise their list of must-haves as we tour homes and some items become far more substantial than others.
If that's the case, I'll look through the listings once again and narrow it down to the house you've been wishing for.
Step 4 – Get a grasp of the housing market
My awareness of the Mitchell housing market is a fundamental aspect in your home search. I am informed of all the neighborhoods and school districts, and I will let you know what areas are "hot" and call for immediate action and the ones that are "cool" and allow for thoughtful analysis.
When we tour houses, I'll be sure to tell you if the list price has room for bargaining or if I believe the house is "priced to sell."
Every real estate agent in Mitchell will convince you they truly understand the home market, but be wary, and be sure to ask your agent lots of questions.
If things don't add up, call me at 8128494663 or e-mail me at , and I'll be glad to answer your questions. My knowledge of the market will keep you a step ahead throughout the entire deal.
Step 5 – Find your dream home
We'll find your dream home in Mitchell, and when we do, I'll thoroughly create your home purchase offer. The offer will be tailored keeping your needs in mind and the home, including some contingencies. A few examples are acquiring financing, carrying out the home inspection, and a clean title.
When submitting your purchase offer, you'll want to submit "earnest money." This is a cash deposit made to the seller to secure an offer to buy the property. The amount is usually applied to the closing costs. If the offer is accepted by the seller, we should close on the property 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 initial offer, and it's really common to receive a counter offer. But don't let this discourage you. We'll discuss whether or not to accept the counter offer, present our own counter offer, or decline the seller's offer and go on.
Market circumstances determine how aggressively we negotiate the deal.
In addition, we'll work within your financing constraints. And at the end of the day, we'll create a contract that's best for you.
Step 7 – Obtain a loan
Upon completing the deal, you'll begin working with your mortgage lender to close the loan.
If you've been pre-qualified, this shouldn't take much time at all. But you'll need to keep in close contact with your lender.
And I'll take care of all the property information your mortgage lender will need to close the loan.
Step 8 – Close the deal
You'll get a Loan Estimate (LE) detailing closing costs from your lender within three days of taking your application.
This estimate is formed from the loan amount, and RESPA requirements require that it has to involve all closing costs and fall within a narrow range of accuracy. I'll go over the estimate and let you know if it all looks all right.
Then we'll close on your home. This will probably happen at a title company or escrow office and will most likely be a smooth and relaxing event.
Step 9 – Move in
Congratulations! It's time to move into your new home. Enjoy it. And if you have any questions, simply contact me at 8128494663 or e-mail me at .