Purchasing a home is stressful for a lot of people, but with some up-front planning, it's not too complex.
So you know exactly what to expect, I like to supply my buyers with a road map of the whole deal.
These are my nine steps to buying a home.
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When you're ready to get started, you can contact me here or send e-mail to joesantoro@Live.com. I'm glad to address any questions you have about this information.
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Step 1 – Get ready to purchase a home
There are many things you need to do prior to commencing your home search.
It's likely that you'll want to assemble a checklist of items you want to have, get a feeling for what neighborhoods you'd like to live in, and start working on your budget.
Ensuring your mortgage payment is around 30 percent of your monthly income is a good rule to follow.
Step 2 – Speak with a real estate agent
This is where The Keyes Company/Realtors comes in.
We can book a time to meet so we can talk about your real estate needs and get an idea of your upcoming plans.
We'll talk about everything from neighborhoods, schools in the Jensen Beach area, the mortgage and housing industries, to any other economic factors that could potentially affect your buying decision today or in the future.
I can also help you facilitate the loan process.
There are some excellent mortgage professionals in Jensen Beach, and I partner with a lot of them, so you're in great hands.
They can assist you with deciding which kind of loan is best for you and help you get qualified.
Step 3 – Start your home search
After our initial meeting, I'll start searching for available houses on the market that are a good fit for you.
I'll preview many of the homes and reject the bad ones, and then we'll schedule appointments to view the homes at a time that's convenient for you.
As we tour the houses, I'll identify positive features and negative ones. And I'll ask you to point out what things you like and dislike.
Frequently, buyers update their must-have list as we tour houses and some items become far more essential than others.
If such is the case, I'll look through all the listings again and narrow it down to the house you've been dreaming about.
Step 4 – Get a feel for the housing market
My knowledge of the Jensen Beach housing market is a necessary asset in your home search. I'm acquainted with all the neighborhoods and school districts, and I'll alert you to what districts are "hot" and warrant immediate action and some that are "cold" and allow for thoughtful consideration.
When we view houses, I'll make sure to communicate if the asking price has room for bargaining or if I believe the home is "priced to sell."
Any REALTOR® in Jensen Beach will convince you they comprehend the market, but be careful, and be sure to ask a lot of questions.
If it doesn't seem like they know everything, contact me at (772) 834-9206 or e-mail me at joesantoro@Live.com, and I'll be more than happy to answer any questions you have. My understanding of the market will help you stay a step ahead throughout the entire deal.
Step 5 – Find the home you've been waiting for
I'm positive we'll find the house of your dreams in Jensen Beach. When that happens, I'll precisely develop your real estate purchase offer. The offer will be tailored keeping your needs in mind, including several contingencies. A few examples are getting financing, carrying out the inspection, and a clean title.
When submitting your purchase offer, you'll likely want to present "earnest money." This is a cash deposit submitted to the home seller to secure an offer to buy the property, and it's most often applied to the closing costs. If your offer is accepted, we should close on the home about 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 initial offer. It's extremely common to receive a counter offer. Don't let it discourage you. We'll talk over whether or not to accept the counter offer, submit our own counter offer, or refuse the seller's offer and go on.
How aggressively we negotiate the deal depends on market circumstances.
In addition, we'll work within your budget. And at the end of the day, we'll put together a deal that works well for you.
Step 7 – Obtain financing
After the deal is complete, you'll begin working with your mortgage lender to close the loan.
It won't be a long process at all if you've been pre-approved, but you'll need to keep in close contact with your mortgage lender.
And I'll sort out all the property information your mortgage lender will need to close the loan.
Step 8 – Close the deal
Your lender will furnish you with a Good Faith Estimate (GFE) detailing your closing costs within three days of taking your loan application. You'll get a Good Faith Estimate (GFE) detailing your closing costs from your mortgage lender within three days of receiving your application.
The estimate is based on the loan amount, and RESPA requirements dictate that it has to contain all closing costs and fall within a precise range of accuracy. I'll examine the estimate and let you know if it all looks all right.
Then we'll close on your home. This will likely take place at a title company or escrow office and will likely be a smooth and hassle-free event.
Step 9 – Move in
Success! Now you can move into your new house. Enjoy it. And if you have any questions, just contact me at (772) 834-9206 or send me an e-mail.
