With some up-front planning, buying a home isn't that hard, but the event can be stressful for many people.
So you'll know exactly what to expect, I like to supply my buyers with an outline of the whole deal.
Here are my nine steps to buying a home.
 |
 |
 |
When you're ready to get started, you can contact me here or send e-mail to kyle@yourazhomes.com. I'm glad to address questions you have about this information.
|
|
|
|
|
Step 1 – Prepare to purchase a home
There are several things you should contemplate prior to beginning your home search.
You'll most likely want to create a check list of items you want to have, get a plan of what neighborhoods you'd like to live in, and begin planning around your budget.
Keeping your mortgage payment around a third of your net monthly income is a good rule to adhere to.
Step 2 – Talk to a real estate agent in Glendale
This is where DPR Realty LLC comes in.
I'd be happy to schedule a time to get together with you and speak with you about your real estate needs and get an idea of your future plans.
We'll talk about neighborhoods, schools in the Glendale area, the mortgage and housing industries, and any additional economic factors that could potentially affect your buying decision today or in the future.
I'll also help you get started on your loan.
DPR Realty LLC works with some of Glendale's finest mortgage professionals, so you're in great hands.
They will help you figure out which type of loan is best for you, as well as help you get qualified.
Step 3 – Start house-hunting
After our first meeting, I'll begin looking for available houses on the market that are good for you.
I'll get a sneak peek of most of the houses and eliminate the duds, and then we'll schedule appointments to view the houses when it's most convenient for you.
When we tour the houses, I'll show you the positive features, as well as negative ones. I'll even ask you to tell us about things you like and dislike.
Most often, buyers revise their list of must-haves as we view homes and some items become more crucial than others.
If that happens, I'll look through all the listings once more and trim it down to the house you've been dreaming about.
Step 4 – Know the housing market
My knowledge of the Glendale home market is a fundamental resource in your home search. I am familiar with all the neighborhoods and school districts, and I'll alert you to what districts are "hot" and warrant immediate action and others that are "cold" and allow for cautiousness.
As we tour homes, I'll let you know when the seller's asking price has room for negotiation and when I know the home is "priced to sell."
Trust your instincts and make sure you ask your agent plenty of questions, as every REALTOR® in Glendale will tell you they know the home market.
If it seems like they don't know everything, contact me at 623-322-4290 or e-mail me at kyle@yourazhomes.com, and I'll be more than happy to answer any questions you might have. My understanding of the market will help you stay a step ahead throughout the entire process.
Step 5 – Find your dream home
I'm certain we'll find the house of your dreams in Glendale. When that happens, I'll carefully create your real estate purchase offer. The offer will be tailored keeping your needs in mind, including some contingencies. A few examples are getting financing, carrying out the home inspection, and a clear title.
When we turn in your purchase offer, most likely you'll want to present "earnest money." This is a cash deposit made to the seller to secure the offer to purchase the property and is most often applied to the cost of closing. If your offer is accepted, we should close on the property within 30 to 60 days after. This allows necessary time for your mortgage financing.
Step 6 – Negotiate the deal
A lot of contracts don't close on the initial offer. It's pretty common to receive a counter offer. Don't let this intimidate you. We'll consider whether or not to agree to the counter offer, present our own counter offer, or reject the seller's offer and move on.
Market circumstances determine how aggressively we negotiate the contract.
In addition, we'll work within your budget. And at the end of the day, we'll assemble a contract that's best for you.
Step 7 – Secure your loan
After we sign the final deal, you'll begin working with your lender to close the loan.
If you've been pre-qualified, it won't take much time at all. However, you need to keep in close contact with your mortgage lender.
And I'll take care of all the property information your mortgage lender will need to close the loan.
Step 8 – Close the deal
You'll get a Good Faith Estimate (GFE) detailing closing costs from your mortgage lender within three days of getting your application.
This estimate rests on the loan amount, and RESPA requirements require that it has to include all closing costs and fall within a close 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 should happen at a title company or escrow office and will probably be a smooth and comfortable occasion.
Step 9 – Move in
Success! Now you can move into your new house. Enjoy it. And if you have any questions, be sure to contact me at 623-322-4290 or send me an e-mail.
