Contemplating purchasing a new home in Moore?
For most people, purchasing a home is a stressful event. But with some planning ahead of time, it's not very difficult.
So you'll understand exactly what to expect, I like to give my buyers an outline of the entire deal.
These are my nine steps to purchasing a home.
When you're ready to get started, you can contact me here or send me e-mail
. I'm glad to answer questions you have about this information.
Step 1 – Prepare to purchase a home
There are several things you should take into account prior to beginning your home search.
When you begin your search, you'll want to create a check list of must-haves, get an idea of what neighborhoods and school districts you'd like to live in, and begin working on your budget.
Keeping your mortgage payment less than or around a third of your monthly income is a good principle to follow.
Step 2 – Communicate with a real estate agent
That's where I come in.
I'll book a time to meet so we can talk about why you want to buy a home and get an idea of your upcoming plans.
We'll talk about everything from neighborhoods, school districts in the Moore area, the mortgage industry, to any other economic factors that could potentially affect your buying decision today or in the future.
I can also help you begin the loan process.
Realty Experts Inc works with some of Moore's best mortgage professionals, so you're in great hands.
They'll assist you in figuring out which type of loan is best for you and help you get qualified.
Step 3 – Start your search
After our initial meeting, I'll begin looking for available houses on the market that best suit you.
I'll get a sneak peek of many of the homes and ignore the bad ones, and then we'll schedule appointments to tour the homes at a time that's convenient for you.
When we tour the houses, I'll identify good features and negative ones. And I'll ask you to point out what things you like and don't like.
Oftentimes, buyers amend their wish list as we view homes and some items become more substantial than others.
If that's the case, I'll look through all the listings another time and trim it down to the house you've been dreaming about.
Step 4 – Get a feel for the market
An agent's understanding of the Moore home market is an essential aspect in your house search. And I can assure you I'm familiar with all the neighborhoods and schools, and I'll let you know certain neighborhoods are "hot" and demand immediate action and the ones that are "cool" and allow for careful examination.
When we view homes, I'll let you know when the asking price has room for negotiation and when I know the house is "priced to sell."
Trust your instincts and be sure to ask your agent lots of questions, as any real estate agent will tell you they know the home market.
If things don't add up, contact me at 405-417-7070 or e-mail me at email@example.com, and I'll be happy to answer any questions you may have. My market expertise will keep you a step ahead through the entire deal.
Step 5 – Find the house you've been waiting for
I'm confident we'll find your dream home in the Moore area, and when that happens, I'll meticulously create your home purchase offer. The offer will be made 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, you'll want to present "earnest money." This is a cash deposit made to a home seller to secure the offer to buy the property, and it's often applied to the closing costs. If the offer is accepted, we should close on the home about 30 to 60 days after. This allows plenty of time for your mortgage financing.
Step 6 – Negotiate
Most contracts aren't closed on the first offer. It's really common to receive a counter offer. Don't let this intimidate you. We'll consider whether or not to consent to the counter offer, present 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 deal.
We'll also work within your financing budget. And at the end of the day, we'll put together a contract that's best for you.
Step 7 – Secure your loan
After we sign the final contract, you'll begin working with your mortgage lender to close the loan.
If you're already pre-approved, it won't be a long process at all. However, you'll want to stay in close contact with your lender.
And I'll care for all the property information your lender will need to close the loan.>
Your mortgage lender will provide you with a Good Faith Estimate (GFE) of your closing costs within three days of taking your loan application.
This estimate is formed from the loan amount, and RESPA requirements order that it has to contain all closing costs and be within a precise 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 house. This will most often happen at a title company or escrow office and will most often be a smooth and relaxing event.
Step 9 – Move in
Success! It's time to move into your new home. Enjoy it. And if you need anything or have any questions, simply contact me at 405-417-7070 or send me an e-mail.