For most people, buying a home can be a stressful event. However, with a little planning ahead of time, it's not too complex. We like to provide buyers with a road map of the whole deal so they'll understand exactly what they can expect. Below are my nine steps to purchasing a home.
 |
 |
 |
When you're ready to get started, simply contact us. We ar happy to address questions you have regarding this information. |
|
|
|
|
Step 1 – Get ready to buy
There are a lot of things you'll want to contemplate before beginning your home search. When you begin your search, you'll want to make a checklist of items you need to have, get a plan of what school districts and neighborhoods you want to live in, and begin planning around your budget. Keeping your mortgage payment less than or around a third of your monthly income is a good principle to go by.
Step 2 – Talk to a real estate agent
That's where we can help. We'll set up a time to get together so we can talk about your real estate needs and get an idea of your future plans. We'll discuss everything from neighborhoods, schools in the Murfreesboro area, the mortgage and housing industries, to any other economic factors that could potentially affect your purchase today or in the future.
In addition, We'll assist you in getting started on your loan. There are some very good mortgage professionals in Murfreesboro, and we work with a lot of them, so you can rest assured that you're in great hands. They'll assist you with determining which type of loan is best for you and help you get qualified.
Step 3 – Begin your home search
After our first meeting, we'll begin looking for available houses on the market that are a good fit for you. We'll research many of the homes, send them to you and you reject the bad ones, and then we'll schedule appointments to tour the houses at a time that's convenient for you.
As we view the homes, we'll identify good features, as well as bad ones. We'll even ask you to talk about things you like and dislike. It's common for buyers to revise their list of must-haves as we view homes and some items become more crucial than others. If that's the situation, we'll search all the listings once again and narrow it down to the home you've been dreaming about.
Step 4 – Get a grasp of the housing market
My understanding of the Murfreesboro market is an indispensable resource in your house search. We are familiar with all the schools and neighborhoods, and we will communicate certain areas are "hot" and call for prompt action and others that are "cool" and allow for more analysis.
As we tour homes, we will make sure to communicate if the asking price has room for bargaining or if we believe the house is "priced to sell." When working with an agent, be sure to ask any and all questions you might have. Every REALTOR® will convince you they truly know the market. If it appears they don't know everything, call us at (615)896-5656 or e-mail me, and we would be happy to answer any questions you have. Oue knowledge of the market will keep you a step above the rest throughout the entire process.
Step 5 – Find the house you've been looking for
We are certain we'll find your dream house in Murfreesboro. When we do, we'll carefully help you create your home purchase offer. The offer will be tailored exactly to your needs, including many contingencies. A few examples are obtaining financing, completing the inspection, and a clean title.
When submitting your purchase offer, you'll likely need to present "earnest money." This is a deposit made to the home seller to secure the offer to buy the property, and it's often applied to the cost of closing. If the offer is accepted, we should close on the home within 30 to 60 days afterward. This allows ample time for your inspections and mortgage financing.
Step 6 – Negotiate the deal
A lot of deals aren't closed on the first offer – it's very common to receive a counter offer. Don't let this intimidate you. We'll talk over whether or not to accept the counter offer, present our own counter offer, or decline the seller's offer and move on.
Market conditions will play a big part in how aggressively we negotiate the deal. In addition, we'll work within your financing limits. And at the end of the day, we'll compose a deal that's best for you.
Step 7 – Get financing
After the contract is signed, you'll start working with your lender to close the loan. This shouldn't be a long process at all if you've been pre-approved, but you'll need to stay in close contact with your lender. And we'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) of closing costs from your mortgage lender within three days of getting your loan application. The estimate is formed from the loan amount, and RESPA requirements require that it has to involve all closing costs and be within a close range of accuracy.
Then it's time to close on your house. This will take place at a title company and will likely be a smooth and easygoing occurrence.
Step 9 – Move in
Congratulations! It's time to move into your new home. Enjoy it. And if you need anything or have any questions, just contact us via e-mail or give us a call at (615)896-5656.
