Let Masterson Network assist you with purchasing a home in Murfreesboro
With a little up-front planning, purchasing a home isn't all that difficult, but the event is intimidating for a lot of people.
I like to give buyers an overview of the whole deal so they'll understand exactly what to expect.
Below are my nine steps to buying a home.
If you have questions about this information or if you're ready to get started, simply contact me here or e-mail me at .
Step 1 – Prepare to buy a home
There are many things you'll want to take into account prior to starting your home search.
When you begin your search, you'll want to create a list of features you want, get a plan of what neighborhoods and school districts you want to live in, and begin working on your budget.
Ensuring your mortgage payment is around 30 percent of your net monthly income is a good rule to adhere to.
Step 2 – Communicate with a real estate agent in Murfreesboro
This is where I can help.
I'd like to book a time to get together with you and speak with you regarding why you want to buy a home and get an idea of your plans for the future.
We'll discuss everything from neighborhoods, school districts in the Murfreesboro area, the mortgage industry, to any other economic factors that may potentially affect your buying decision today or in the future.
I'll also help you start the loan process.
Masterson Network partners with some of Murfreesboro's best mortgage professionals, so you can rest assured that you're in great hands.
They'll help you figure out which kind of loan is best for you, as well as help you get approved.
Step 3 – Begin looking for a house
After our initial meeting, I'll start looking for homes on the market that are good for you.
I'll get a sneak peek of most of the homes and exclude the bad ones, and then we'll book appointments to tour the houses whenever it's convenient for you.
When we view the houses, I'll show you the good features and negative ones. I'll also ask you to talk about things you like and don't like.
It's widely common for buyers to update their must-have list as we tour houses and some things become far more crucial than others.
If that's the situation, I'll go back through all the listings again and narrow it down to the house you've been dreaming about.
Step 4 – Know the market
My knowledge of the Murfreesboro home market is a necessary element in your home search. I'm mindful of all the schools and neighborhoods, and I will communicate some neighborhoods are "hot" and call for prompt action and some that are "cold" and allow for thoughtful examination.
As we tour houses, I'll be sure to tell you if the list price has room for bargaining or if I believe the home is "priced to sell."
Be mindful and make sure you ask a lot of questions, as every REALTOR in Murfreesboro will claim to understand the market.
If things don't add up, call me at (615)896-5656 or e-mail me at , and I'll be more than happy to answer your questions. My understanding of the market will keep you a step above the rest through the entire process.
Step 5 – Find the house you've been looking for
We'll find the home of your dreams in Murfreesboro, and when we do, I'll precisely create your purchase offer. The offer will be tailored exactly to your needs and the home, including a lot of contingencies, such as acquiring financing, finishing the inspection, and a clear title.
When we send in your purchase offer, you'll probably need to submit "earnest money." This is a cash deposit given to a seller to secure the offer to purchase the property, and it's usually put towards the closing costs. If the seller accepts your offer, we should close about 30 to 60 days after. This allows ample time for your mortgage financing.
Step 6 – Negotiate
Unfortunately most deals aren't closed on the initial offer – it's extremely common to receive a counter offer. Don't let it discourage you. We'll talk about whether or not to agree to the counter offer, propose our own counter offer, or reject the seller's offer and move on.
How aggressively we negotiate the deal depends on market circumstances.
In addition, we'll work within your financing budget. And at the end of the day, we'll formulate a contract that's best for you.
Step 7 – Secure a loan
Upon completion of the contract, you'll start working with your mortgage lender to close the loan.
It won't take very long at all if you've been pre-qualified, but you should to keep in close contact with your mortgage lender.
And I'll sort out all the property information your lender will need to close the loan.
Step 8 – Close the deal
Your mortgage lender will send you a Loan Estimate (LE) outlining your closing costs within three days of accepting your application. You'll get a Loan Estimate (LE) detailing your closing costs from your mortgage lender within three days of getting your application.
This estimate is formed from the loan amount, and RESPA requirements require that it has to contain all closing costs and fall within a narrow range of accuracy. I'll review the estimate and let you know if it all looks permissible.
Then it's time to close on your home. This will most often take place at a title company or escrow office and should be a smooth and relaxed occurrence.
Step 9 – Move in
Congratulations! It's time to move into your new home. Enjoy it. And if you need anything, simply contact me at (615)896-5656 or e-mail me at .