Buying or selling a home in Abilene?For a lot of people, buying a home can be a stressful event. However, with some planning ahead of time, it's not very confusing. So you understand exactly what to expect, I like to supply my buyers with a road map of the entire deal. These are my nine steps to buying a home.
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Step 1 – Prepare to buy
There are plenty of things you'll want to do before commencing your home search. You'll want to put together a check list of must-haves, get a plan of what neighborhoods you'd like to live in, and begin working on your budget. Keeping your mortgage payment less than or around a third of your net monthly income is a good rule to go by.
Step 2 – Communicate with a real estate agent in Abilene
That's where I come in. I'd like to arrange a time to meet with you and talk about your real estate needs and get an idea of your plans for the future. We'll talk about the mortgage and housing industries, other economic factors that might affect your purchase today or in the future, as well as neighborhoods and school districts in the Abilene area.
In addition, I'll help you facilitate the loan process. I work with some of Abilene's finest mortgage professionals, so you're in great hands. They will assist you in choosing which kind of loan is best for you and help you get approved.
Step 3 – Begin looking for a home
After we meet, I'll start finding available houses on the market that are great for you. I'll research most of the houses and remove the bad ones, and then we'll book appointments to tour the homes when it's most convenient for you.
As we tour houses, I'll point out positive features and negative ones. I'll also ask you to talk about things you like and dislike. As a rule, buyers amend their must-have list as we tour houses and some things become more essential than others. If that happens, I'll look through the listings another time and narrow it down to the home you've been waiting for.
Step 4 – Get a grasp of the housing market
An agent's awareness of the Abilene housing market is a fundamental factor in your house search. And I can assure you I'm conscious of all the schools and neighborhoods, and I'll alert you to what districts are "hot" and demand prompt action and the ones that are "cool" and allow for thoughtful consideration.
As we view homes, I'll make sure to communicate when the asking price has room for negotiation and when I trust the house is "priced to sell." Trust your instincts and be sure to ask plenty of questions, as every real estate agent in Abilene will tell you they comprehend the market. If it seems like they don't know everything, call me at 325-864-2744 or e-mail me at firstname.lastname@example.org, and I'll be more than happy to answer any questions you may have. My market knowledge will help you stay a step ahead throughout the entire process.
Step 5 – Find your dream house
I'm positive we'll find the house of your dreams in Abilene. When we do, I'll thoroughly develop your real estate purchase offer. The offer will be tailored with your needs in mind, including some contingencies, such as obtaining financing, completing the home inspection, and a clear title.
When sending in your purchase offer, you'll need to present "earnest money." This is a cash deposit made to a home seller to secure the offer to purchase the property, and it's usually applied to the closing costs. If the seller accepts your offer, we should close within 30 to 60 days after. This allows necessary time for your mortgage financing.
Step 6 – Negotiate the deal
Most deals aren't closed on the first offer. It's pretty common to receive a counter offer. But don't let it alarm you. We'll talk over whether or not to consent to the counter offer, propose our own counter offer, or reject the seller's offer and move on.
Market conditions will play a role in how aggressively we negotiate the deal. We'll also work within your budget. And at the end of the day, we'll formulate a contract that works well for you.
Step 7 – Secure financing
Once the contract is finalized, you'll start working with your lender to close the loan. If you're already pre-approved, it shouldn't take very long at all, but you'll want to keep in close contact with your lender. And I'll sort out all the property information your lender needs to close the loan.
Step 8 – Close the deal
You'll get a Good Faith Estimate (GFE) detailing your closing costs from your mortgage lender within three days of taking your loan application. This estimate rests on the loan amount. RESPA requirements require that it has to include all closing costs and fall within a strict range of accuracy, and I'll go over the estimate and let you know if it all looks permissible.
Then we'll close on your house. This will probably take place at a title company or escrow office and should be a smooth and stress-free occasion.
Step 9 – Move in
Success! It's time to move into your new home. Enjoy it. And if you need anything, just call me at 325-864-2744 or send me an e-mail.