Are you contemplating buying your new home in the Buckeye area? Rosendy Wheelock with Arizona Premier Realty Homes & Land, LLC can help.For many people, purchasing a home can be a stressful event. But with some up-front planning, it's not that complicated. So you know exactly what to expect, I like to supply my buyers with an overview of the whole deal. These are my nine steps to buying a home.
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Step 1 – Prepare to purchase a home
There are plenty of things you should contemplate before you start looking for a home. It's likely that you'll want to make a check list of items you need, get a feeling for what neighborhoods and school districts you'd like to live in, and begin planning around your budget. A good guideline to follow is that your mortgage payment should be less than or around 30 percent of your net monthly income.
Step 2 – Talk to a real estate agent
That's where I come in. We can book 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 discuss the mortgage and housing industries, other economic factors that might affect your purchase today or in the future, as well as neighborhoods and schools in the Buckeye area.
I'll also help you begin the loan process. There are some great mortgage professionals in Buckeye, and I work with a lot of them, so you can rest assured that 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 looking
After we meet for the first time, I'll begin looking for homes on the market that are great for you. I'll preview most of the homes and ignore the duds, and then we'll schedule appointments to view the homes whenever it's most convenient for you.
When we view homes, I'll identify good features and negative ones. I'll even ask you to point out what things you like and dislike. It's common for buyers to amend their list of must-haves as we view houses and some features become far more essential than others. If such is the case, I'll search all the listings another time and narrow it down to the house you've been dreaming about.
Step 4 – Know the housing market
Your agent's awareness of the Buckeye housing market is an essential aspect in your house search. And I assure you I'm acquainted with all the neighborhoods and school districts, and I'll alert you to what neighborhoods are "hot" and require prompt action and some that are "cool" and allow for thoughtful examination.
When we view houses, I'll make sure to communicate if the asking price has room for negotiation or if I believe the house is "priced to sell." Every real estate agent in Buckeye will tell you they know the market, but beware, and make sure you ask lots of questions. If things don't add up, contact me at 623-466-5972 or e-mail me at firstname.lastname@example.org, and I'll be more than happy to answer any questions you may have. My knowledge of the market will help you stay a step above the rest through the entire deal.
Step 5 – Find your dream home
I'm certain we'll find your dream home in the Buckeye area. When that happens, I'll thoroughly create your home purchase offer. The offer will be tailored with your needs in mind, including some contingencies, such as obtaining financing, finishing the home inspection, and a clear title.
When we turn in your purchase offer, you'll want to present "earnest money." This is a cash deposit made to a home seller to secure the offer to purchase the property. The amount is most often put towards the closing costs. If the offer is accepted by the seller, we should close about 30 to 60 days after. This allows necessary time for your mortgage financing.
Step 6 – Negotiate the deal
A lot of deals don't close on the beginning offer. It's really common to receive a counter offer. Don't let this alarm you. We'll talk about whether or not to consent to the counter offer, present our own counter offer, or refuse the seller's offer and move on.
How aggressively we negotiate the contract depends on the state of the market. We'll also work within your financing limits. And at the end of the day, we'll create a deal that is best for you.
Step 7 – Secure a loan
After we sign the final contract, you'll begin working with your lender to close the loan. If you've been pre-approved, it shouldn't take long at all, but you should 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 your closing costs from your mortgage lender within three days of receiving your loan application. The estimate is based on 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 examine the estimate and let you know if it all looks permissible.
Then we'll close on your house. This should happen at a title company or escrow office and will likely be a smooth and pleasant occasion.
Step 9 – Move in
Congratulations! It's time to move into your new house. Enjoy it. And if you need anything or have any questions, be sure to contact me at 623-466-5972 or send me an e-mail.