Here are some great tips to help you get started.
With a little up-front planning, buying a home isn’t that complex, but the event is stressful for a lot of people.
So you understand exactly what to expect, I like to supply my buyers with a road map of the entire transaction.
If you have questions contact me at firstname.lastname@example.org.
Check out FREE Home Buyer Tips under GET ADVICE on my home page.
What is the Mortgage Loan closing Process?
How to get and keep Good Credit
Step 1 – Prepare to purchase a home.
Before you begin your home search, there are many things you’ll want to consider.
You’ll want to create a check list of features you’d like have, get a feel for the neighborhoods and school districts you want to live in, and start planning around your budget.
Ensuring your mortgage payment is less than or around 30 percent of your total net monthly income is a good rule to adhere to.
I have a great list of local mortgage lenders that can discuss your loan options and work to get you the best interest rate and terms available. Just shoot me an email and I’ll be happy to send you that information. email@example.com
Step 2 – Let’s set a time to meet and discuss your needs and concerns.
We will set a time to meet and talk about why you want to buy a home and get an idea of your plans for the future.
We’ll talk about neighborhoods, school districts in the area, the mortgage industry, and any other economic factors that might affect your buying decision today and in the future.
In addition, I’ll help you start the loan process.
I partner with some of the finest mortgage professionals, so you’re in great hands.
They’ll assist you in determing the type of loan that is best for you and help you get approved.
Step 3 – Begin house-hunting
After our first meeting, I’ll start looking for available homes on the market that closely match your crieteria.
We’ll tour the homes when it’s most convenient for you.
As we view houses, I’ll point out positive features, as well as the negative ones.
I’ll also ask you about things you like and don’t like.
It’s common for buyers to update their wish list as we tour houses and some things become far more crucial than others.
If such is the case, I’ll look through all the listings again and narrow it down to the home you’ve been waiting for.
Step 4 – Get a grasp of the market
I have a strong knowledge of what’s a good buy and what’s not.
I’m acquainted with all the schools and neighborhoods, and I can let you know which neighborhoods are “hot” and require immediate action and the others that are “cold” and allow for careful analysis.
As we view houses, I’ll make sure to communicate if the seller’s list price has room for bargaining or if I believe the house is “priced to sell.”
Be sure to ask lots of questions. I’ll do my best to get you answers quickly.
Contact me at 919-280-4567 or e-mail me at firstname.lastname@example.org.
My market knowledge will keep you a step ahead throughout the entire process.
Step 5 – Find the home you’ve been looking for.
I’m sure we’ll find your dream home.
When that happens, I’ll create your real estate offer to purchase, detailing your terms.
Whenever necessary, I make contracts contingent upon items such as: acquiring financing and the results of the home inspection.
When sending in your purchase offer, you’ll need to submit “earnest money.” This is a cash deposit given to a seller to secure an offer to buy the property.
The amount is usually applied to the sales price.
If the seller accepts your offer, we should close on the property within 30 to 60 days after acceptance. This allows necessary time for your mortgage financing and inspections.
Step 6 – Negotiate the deal
A lot of deals don’t work out with the first offer – it’s extremely common to receive a counter offer. But don’t let this discourage you.
We’ll talk about: accepting the counter offer, presenting your own counter offer, or reject the seller’s offer and move on.
Market circumstances will play a role in how aggressively we negotiate the contract.
We’ll also work within your financing limits.
When it’s all said and done, we’ll seal a deal that works best for you.
Step 7 – Get your loan
Once we sign the final agreed upon contract, you’ll begin working with your mortgage lender to close the loan. This shouldn’t take long at all if you’re already pre-qualified, but you’ll want to stay in close contact with your lender.
I’ll handle all the property information your lender will need to close the loan.
Step 8 – Close the deal
Your mortgage lender will send you a Good Faith Estimate (GFE) of closing costs within three days of receiving your loan application.
This estimate is based on the loan amount.
RESPA requirements mandate that it must contain all closing costs and be within a narrow range of accuracy.
I can examine the estimate and help you get your questions answered.
Then it’s time to close on your home.
The closing takes place at your real estate attorney’s office.
I know several very great real estate attorneys if you don’t have someone in mind.
It’s usually a smooth and comfortable experience.
Step 9 – Move in Congratulations!
It’s time to move into your new house.
If you need anything or have any questions, simply contact me at 919-280-4567 or
send me an e-mail pat4Homes@gmail.com .