Buying your home in Austin
With a little planning ahead of time, purchasing a home isn't that hard, but the event can be stressful for many people.
So they'll understand exactly what to expect, I'll provide buyers with an outline of the entire deal.
These are my nine steps to purchasing a home.
If you have any questions about this information or if you're prepared to get started, simply contact me here or e-mail me at .
Step 1 – Prepare to purchase a home
There are many things you'll want to do before you start searching for a home.
You'll want to form an index of features you need to have, get a feel for what neighborhoods and school districts you want to live in, and start planning your budget.
A good guideline to adhere to is that your mortgage payment should be less than or around 30 percent of your net monthly income.
Step 2 – Get in touch with a real estate agent
This is where I can help.
I'd be more than happy to arrange a time to meet with you and communicate with you about your real estate needs and get an idea of your plans for the future.
We'll discuss neighborhoods, schools in the Austin area, the mortgage and housing industries, and any additional economic factors that may affect your purchase today or in the future.
I can also assist you with getting started on your loan.
I partner with some of Austin's best mortgage professionals, so you can rest assured that you're in great hands.
They can help you determine which kind of loan is best for you, as well as help you get qualified.
Step 3 – Start looking for a house
After our first meeting, I'll start looking for houses on the market that best suit you.
I'll preview many of the houses and ignore the bad ones, and then we'll book appointments to tour the houses when it's convenient for you.
As we tour homes, I'll call attention to good features, as well as negative ones. And I'll ask you what things you like and dislike.
Generally, buyers change their list of must-haves as we tour homes and some features become far more important than others.
If such is the case, I'll go back through the listings once more and narrow it down to the house you've been waiting for.
Step 4 – Comprehend the housing market
Your agent's knowledge of the Austin market is a fundamental component in your home search. And I can assure you I'm mindful of all the neighborhoods and schools, and I can alert you to some neighborhoods are "hot" and require immediate action and some that are "cool" and allow for more examination.
As we tour homes, I'll make sure to communicate when the list price has room for negotiation and also when I think the house is "priced to sell."
When working with an agent, be careful and be sure to ask plenty of questions, as every REALTOR will convince you they understand the housing market.
If it appears they don't know everything, contact me at 512-834-1600 or e-mail me at , and I'll be glad to answer your questions. My market knowledge will keep you a step ahead throughout the entire deal.
Step 5 – Find the home of your dreams
I'm sure we'll find your dream house in Austin. When that happens, I'll precisely develop your home purchase offer. The offer will be tailored exactly to your needs and the home, including a lot of contingencies, such as acquiring financing, completing the home inspection, and a clean title.
Upon submitting your purchase offer, you'll likely need to present "earnest money." This is a cash deposit submitted to a seller to secure an offer to purchase the property, and it's often applied to the closing costs. If the offer is accepted by the seller, we should close within 30 to 60 days afterward. This allows enough time for your mortgage financing.
Step 6 – Negotiate the deal
A lot of contracts don't close on the beginning offer, and it's really common to receive a counter offer. But don't let this discourage you. We'll consider whether or not to consent to the counter offer, present our own counter offer, or decline the seller's offer and go on.
Market conditions determine how aggressively we negotiate the deal.
In addition, we'll work within your financing budget. And at the end of the day, we'll create a contract that is best for you.
Step 7 – Get a loan
After we sign the final sales contract, you'll begin working with your mortgage lender to close the loan.
If you've been pre-approved, it won'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
Your lender will supply you with a Loan Estimate (LE) outlining your closing costs within three days of receiving your application. You'll get a Loan Estimate (LE) outlining your closing costs from your lender within three days of receiving your loan application.
The estimate is based on the loan amount. RESPA requirements require that it has to involve all closing costs and be within a strict range of accuracy, and I'll review the estimate and let you know if it all looks permissible.
Then we'll close on your house. This will most likely happen at a title company or escrow office and is often a smooth and relaxing occasion.
Step 9 – Move in
Congratulations! Now you can move into your new house. Enjoy it. And if you need anything or have any questions, simply call me at 512-834-1600 or e-mail me at .