Buying or selling a home?
Purchasing a home is a stressful event for most people, but it isn't too complicated with a little planning ahead of time.
So they know exactly what they can expect, I will furnish buyers with an outline of the whole deal.
These are my nine steps to purchasing a home.
When you're ready to get started, simply contact me here or e-mail me at . I'm glad to answer any questions you have regarding this information.
Step 1 – Get ready to buy
Prior to beginning your home search, there are a lot of things you should do.
When you start your search, you'll want to make a checklist of features you want to have, get a feeling for what neighborhoods you'd like to live in, and start planning around your budget.
A good principle to adhere to is that your mortgage payment should be less than or around 30 percent of your monthly income.
Step 2 – Connect with a real estate agent in Austin
This is where John Horton Realty comes in.
I'd like to arrange 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, schools in the Austin area, the mortgage and housing industries, to any other economic factors that may potentially affect your buying decision today or in the future.
I can also help you get started on your loan.
I work with some of Austin's finest mortgage professionals, so you're in great hands.
They will assist you in determining which kind of loan is best for you and help you get approved.
Step 3 – Start house-hunting
After our initial meeting, I'll begin finding available houses on the market that are great for you.
I'll preview most of the houses and reject the duds, and then we'll schedule appointments to view the houses when it's convenient for you.
When we view the homes, I'll show you the positive features and negative ones. I'll also ask you what things you like and dislike.
It's pretty common for buyers to revise their must-have list as we view homes and some items become far more important than others.
If that's the case, I'll look through all the listings one more time and narrow it down to the house you've been dreaming about.
Step 4 – Understand the housing market
My awareness of the Austin market is a leading agent in your house search. I'm mindful of all the school districts and neighborhoods, and I can alert you to which areas are "hot" and call for immediate action and the ones that are "cold" and allow for more examination.
As we tour houses, I'll make sure to communicate if the seller's list price has room for bargaining or if I believe the home is "priced to sell."
Be on guard and make sure you ask lots of questions, as any REALTOR will tell you they know the market.
If it doesn't seem like they know everything, just call me at 512-834-1600 or e-mail me at , and I'll be happy to answer any questions you might have. My market knowledge will keep you a step ahead through the entire deal.
Step 5 – Find the house you've been looking for
We'll find your dream home in the Austin area, and when we do, I'll thoroughly develop your purchase offer. The offer will be tailored exactly to your needs and the home, including some contingencies. A few examples are obtaining financing, finishing the home inspection, and a clean title.
Upon sending in your offer, you'll want to submit "earnest money." This is a cash deposit given to a home seller to secure an offer to purchase the property and is often put towards the cost of closing. If the offer is accepted by the seller, we should close within 30 to 60 days after. This allows necessary time for your mortgage financing.
Step 6 – Negotiate the deal
Unfortunately most deals don't close on the initial offer. It's extremely common to receive a counter offer. Don't let it discourage you. We'll figure out 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 market conditions.
In addition, we'll work within your financing budget. And when it's all said and done, we'll compose a contract that is best for you.
Step 7 – Obtain a loan
After we sign the final contract, you'll start working with your lender to close the loan.
This won't take long at all if you're already pre-approved, but you should to keep in close contact with your mortgage lender.
And I'll sort out all the property information your mortgage lender needs to close the loan.
Step 8 – Close the deal
Your mortgage lender will supply you with a Loan Estimate (LE) of your closing costs within three days of accepting your application. You'll get a Loan Estimate (LE) detailing closing costs from your mortgage lender within three days of accepting your loan application.
The estimate is based on the loan amount. RESPA requirements order that it has to include all closing costs and fall within a tight range of accuracy, and I'll examine the estimate and let you know if everything looks okay.
Then we'll close on your home. This will most often happen at a title company or escrow office and will most likely be a smooth and easygoing event.
Step 9 – Move in
Congratulations! Now you can move into your new home. Enjoy it. And if you need anything, make sure you contact me at 512-834-1600 or e-mail me at .