Let RE/MAX Associates help you with purchasing a new home in Edmond
Purchasing a home is a stressful event for most people, but with some planning ahead of time, it isn't all that complicated.
I like to give buyers an overview of the whole deal so they'll understand exactly what they can expect.
Below are my nine steps to buying a home.
Should you have any questions about this information or if you're ready to get started, simply contact me here or send e-mail to email@example.com
Step 1 – Prepare to purchase a home
There are several things you should do before you look for a home.
When you start your search, you'll probably want to make an outline of features you want, plan for what school districts and neighborhoods you want to live in, and begin planning around your budget.
Keeping your mortgage payment around 30 percent of your monthly income is a good rule of thumb to adhere to.
Step 2 – Contact a real estate agent in Edmond
This is where I can help.
I'd like to set up a time to get together with you and communicate with you regarding why you want to buy a home and get an idea of your future plans.
We'll talk about everything from neighborhoods, school districts in the Edmond area, the mortgage industry, to any other economic factors that may affect your buying decision today or in the future.
I can also assist you in getting started on your loan.
I partner with some of the finest mortgage professionals in Edmond, so you'll be in great hands.
They will help you determine which type of loan is best for you, as well as help you get approved.
Step 3 – Begin house hunting
After we meet, I'll begin looking for houses on the market that best suit you.
I'll get a sneak peek of many of the homes and remove the duds, and then we'll book appointments to view the houses whenever it's convenient for you.
As we tour houses, I'll identify positive features, as well as bad ones. And I'll ask you to tell me about things you like and don't like.
Generally, buyers revise their list of must-haves as we view houses and some items become more substantial than others.
If such is the case, I'll go back through the listings once again and narrow it down to the house you've been waiting for.
Step 4 – Get a grasp of the market
An agent's awareness of the Edmond home market is a necessary element in your house search. And I can assure you I'm familiar with all the schools and neighborhoods, and I can alert you to which districts are "hot" and call for prompt action and the ones that are "cool" and allow for more analysis.
When we view houses, I'll let you know when the list price has room for negotiation and when I know the home is "priced to sell."
When working with an agent, be mindful and be sure to ask lots of questions. Any REALTOR® in Edmond will tell you they understand the housing market.
If things don't add up, contact me at 4053598700 or e-mail me at firstname.lastname@example.org, and I'd be more than happy to answer your questions. My market knowledge will keep you a step above the rest throughout the entire process.
Step 5 – Find your dream house
I'm sure we'll find the house of your dreams in Edmond. When we do, I'll carefully create your real estate purchase offer. The offer will be tailored to suit your needs, including many contingencies, such as acquiring financing, finishing the home inspection, and a clean title.
When we present your purchase offer, you'll probably need to present "earnest money." This is a cash deposit given to the home seller to secure the offer to buy the property and is typically applied to the closing costs. If the seller accepts your offer, we should close on the home within 30 to 60 days after. This allows sufficient time for your mortgage financing.
Step 6 – Negotiate
Unfortunately most deals aren't closed on the beginning offer – it's pretty common to receive a counter offer. Don't let it discourage you. We'll talk about whether or not to consent to the counter offer, present our own counter offer, or reject the seller's offer and move on.
Market circumstances will play a big part in how aggressively we negotiate the contract.
In addition, we'll work within your financing limits. And at the end of the day, we'll compose a deal that is best for you.
Step 7 – Secure your loan
Upon completing the contract, you'll start working with your mortgage lender to close the loan.
If you've been pre-approved, this won't be a long process at all, but you need to stay in close contact with your mortgage lender.
And I'll manage all the property information your lender needs to close the loan.>
Step 8 – Close the deal
You'll get a Good Faith Estimate (GFE) of closing costs from your mortgage lender within three days of taking your application.
The estimate is formed from the loan amount, and RESPA requirements mandate that it has to involve all closing costs and fall within a close range of accuracy. I'll review the estimate and let you know if it all looks permissible.
Then it's time to close on your home. This will probably happen at a title company or escrow office and is often a smooth and peaceful affair.
Step 9 – Move in
Congratulations! Now you can move into your new house. Enjoy it. And if you need anything or have any questions, make sure you contact me at 4053598700 or send me an e-mail.