Buying or selling a home in Murfreesboro?
Buying a home can be stressful for many people, but with a bit of planning ahead of time, it's not all that difficult.
I like to supply buyers with a road map of the entire deal so they'll know exactly what they can expect.
Here are my nine steps to purchasing a home.
If you have any questions regarding this information or if you're prepared to get started, just contact me here or e-mail me at .
Step 1 – Prepare to purchase
There are a lot of things you need to consider before beginning your home search.
When you begin your search, you'll probably want to assemble a checklist of items you want, get an idea of what school districts you want to live in, and begin working on your budget.
A good rule of thumb to follow is that your mortgage payment should be less than or around 1/3 of your monthly income.
Step 2 – Talk to a real estate agent
That's where I can help.
We'll plan a time to get together so we can talk about why you want to buy a home and get an idea of your plans for the future.
We'll talk about the mortgage industry, other economic factors that might affect your buying decision today or in the future, as well as neighborhoods and schools in the Murfreesboro area.
I'll also help you begin the loan process.
I partner with some of Murfreesboro's best mortgage professionals, so you're in great hands.
They can help you choose which type of loan is best for you, as well as help you get approved.
Step 3 – Begin your search
After our first meeting, I'll begin searching for houses on the market that are good for you.
I'll research most of the homes and remove the duds, and then we'll set up appointments to tour the houses when it's convenient for you.
As we view houses, I'll show you the positive features and bad ones. I'll even ask you to talk about things you like and dislike.
Generally, buyers change their list of must-haves as we view homes and some features become more important than others.
If that's the case, I'll go back through all the listings once more and narrow it down to the house you've been wishing for.
Step 4 – Know the housing market
My knowledge of the Murfreesboro market is a leading element in your house search. I am mindful of all the neighborhoods and school districts, and I can alert you to which areas are "hot" and call for immediate action and others that are "cool" and allow for more examination.
When we tour homes, I'll let you know if the asking price has room for bargaining or if I believe the house is "priced to sell."
Be mindful and be sure to ask lots of questions, as any real estate agent will tell you they truly know the market.
If things don't add up, contact me at (615)896-5656 or e-mail me at , and I'll be happy to answer any questions you might have. My market knowledge will keep you a step above the rest throughout the entire process.
Step 5 – Find the house you've been waiting for
I know we'll find the house of your dreams in Murfreesboro. When that happens, I'll meticulously create your purchase offer. The offer will be tailored to suit your needs and the home, including some contingencies. A few examples are obtaining financing, finishing the inspection, and a clear title.
When sending in your offer, most likely you'll need to present "earnest money." This is a cash deposit given to the seller to secure the offer to buy the property, and it's often applied to the closing costs. If your offer is accepted by the seller, we should close within 30 to 60 days afterward. This allows ample time for your mortgage financing.
Step 6 – Negotiate the deal
Unfortunately most contracts don't close on the first offer. It's extremely common to receive a counter offer. Don't let this intimidate you. We'll talk over whether or not to consent to the counter offer, present our own counter offer, or decline the seller's offer and move on.
Market circumstances will play a part in how aggressively we negotiate the deal.
We'll also work within your financing budget. And at the end of the day, we'll compose a deal that is best for you.
Step 7 – Obtain a loan
After we sign the final contract, you'll begin working with your lender to close the loan.
It shouldn't take much time at all if you're pre-qualified, but you'll want to keep in close contact with your mortgage lender.
And I'll handle all the property information your lender needs to close the loan.
Step 8 – Close the deal
Your mortgage lender will send you a Loan Estimate (LE) of closing costs within three days of receiving your application. You'll get a Loan Estimate (LE) of closing costs from your mortgage lender within three days of receiving your application.
This estimate rests on the loan amount, and RESPA requirements order that it has to include all closing costs and be within a close range of accuracy. I'll examine the estimate and let you know if everything looks adequate.
Then it's time to close on your home. This will likely happen at a title company or escrow office and is often a smooth and comfortable affair.
Step 9 – Move in
Congratulations! Now you can move into your new house. Enjoy it. And if you need anything or have any questions, make sure you call me at (615)896-5656 or e-mail me at .