For many people, purchasing a home is a stressful event. However, with some up-front planning, it isn't all that complicated.
I like to provide buyers with a road map of the whole deal so they understand exactly what they can expect.
These are my nine steps to buying a home.
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When you're ready to get started, simply contact me here or send e-mail to susansellsbrevard@gmail.com. I'm glad to address questions you have about this information.
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Step 1 – Prepare to purchase
Before you start looking for a home, there are several things you should take into account.
When you start your search, you'll want to form an outline of must-have features, get a plan of what neighborhoods and school districts you'd like to live in, and begin planning around your budget.
Keeping your mortgage payment less than or around 1/3 of your net monthly income is a good rule of thumb to adhere to.
Step 2 – Get with a real estate agent in Viera
This is where D Basile Real Estate, LLC comes in.
I'd love to book a time to meet with you and speak with you about why you want to buy a home and get an idea of your plans for the future.
We'll discuss everything from neighborhoods, schools in the Viera area, the mortgage industry, to any other economic factors that could potentially affect your buying decision today or in the future.
In addition, I'll help you begin the loan process.
There are some excellent mortgage professionals in Viera, and I work with a lot of them, so you're in great hands.
They'll assist you with deciding which type of loan is best for you and help you get approved.
Step 3 – Start your home search
After we meet, I'll start finding available houses on the market that are great for you.
I'll get a sneak peek of most of the houses and reject the duds, and then we'll set up appointments to tour the homes when it's convenient for you.
When we view the homes, I'll identify good features and bad ones. I'll also ask you to point out what things you like and dislike.
As a rule, buyers revise their list of must-haves as we view homes and some items become far more substantial than others.
If that happens, I'll look through the listings one more time and trim it down to the house you've been dreaming about.
Step 4 – Know the market
Your agent's understanding of the Viera market is a fundamental element in your house search. And I can assure you I'm familiar with all the neighborhoods and school districts, and I can let you know which neighborhoods are "hot" and warrant prompt action and the ones that are "cool" and allow for more examination.
As we tour houses, I'll let you know if the asking price has room for bargaining or if I believe the home is "priced to sell."
When working with an agent, be careful and make sure you ask a lot of questions, as every real estate agent will convince you they understand the market.
If things don't add up, call me at 321.243.8900 or e-mail me at susansellsbrevard@gmail.com, and I'll be glad to answer any questions you might have. My understanding of the market will help you stay a step above the rest through the entire deal.
Step 5 – Find the home you've been looking for
We'll find your dream home in Viera, and when that happens, I'll thoroughly create your real estate purchase offer. The offer will be tailored with your needs in mind. Whenever necessary, I never forget to make contracts contingent upon items like acquiring financing and the results of the home inspection.
Upon presenting your purchase offer, most likely you'll need to submit "earnest money." This is a cash deposit given to the home seller to secure an offer to purchase the property. The amount is most often put towards the closing costs. If your offer is accepted, we should close about 30 to 60 days after. This allows enough time for your mortgage financing.
Step 6 – Negotiate the deal
A lot of deals don't close on the first offer. It's pretty common to receive a counter offer. But don't let this discourage you. We'll discuss whether or not to accept the counter offer, propose our own counter offer, or refuse the seller's offer and move on.
Market conditions will play a role in how aggressively we negotiate the contract.
In addition, we'll work within your financing constraints. And when it's all said and done, we'll create a deal that works well for you.
Step 7 – Get financing
After the contract is complete, you'll start working with your mortgage lender to close the loan.
If you're pre-qualified, this won't take very long at all. However, you should to keep in close contact with your mortgage lender.
And I'll deal with all the property information your mortgage lender needs to close the loan.
Step 8 – Close the deal
Your mortgage lender will furnish you with a Good Faith Estimate (GFE) of your closing costs within three days of receiving your loan application. You'll get a Good Faith Estimate (GFE) outlining closing costs from your mortgage lender within three days of getting your loan application.
The estimate depends on the loan amount, and RESPA requirements require that it has to contain all closing costs and be within a tight range of accuracy. I'll study the estimate and let you know if everything looks good.
Then it's time to close on your home. This will likely take place at a title company or escrow office and will most likely be a smooth and hassle-free affair.
Step 9 – Move in
Congratulations! Now you can move into your new home. Enjoy it. And if you have any questions, make sure you contact me at 321.243.8900 or send me an e-mail.