Buying or selling a home in Delray Beach?
For most people, purchasing a home can be a stressful event. But with a little up-front planning, it's not that complicated.
So they'll understand exactly what to expect, I like to provide buyers with a road map of the whole deal.
These are my nine steps to buying a home.
When you're ready to get started, just contact me here or e-mail me at . I'm happy to answer any questions you have regarding this information.
Step 1 – Prepare to purchase a home
There are plenty of things you need to do before you look for a home.
You'll want to create an outline of items you want, get a feeling for what neighborhoods you'd like to live in, and begin working on your budget.
A good principle to follow is that your mortgage payment should be close to 30 percent of your monthly income.
Step 2 – Communicate with a real estate agent in Delray Beach
This is where I come in.
We can arrange a time to get together so we can talk about why you want to buy a home and get an idea of your future plans.
We'll talk about everything from neighborhoods, school districts in the Delray Beach area, the mortgage and housing industries, to any other economic factors that may potentially affect your purchase today or in the future.
I can also assist you in getting started on your loan.
There are some great mortgage professionals in Delray Beach, and I work with a lot of them, so you can rest assured that you're in great hands.
They'll assist you with deciding which kind of loan is best for you and help you get approved.
Step 3 – Begin looking
After our first meeting, I'll begin looking for houses on the market that meet your needs.
I'll research many of the houses and remove the bad ones, and then we'll set up appointments to view the homes whenever it's most convenient for you.
When we tour homes, I'll show you the good features, as well as bad ones. I'll even ask you to tell us about things you like and don't like.
Oftentimes, buyers revise their must-have list as we tour homes and some features become more crucial than others.
If such is the case, I'll go back through all the listings once again and trim it down to the home you've been dreaming about.
Step 4 – Get a grasp of the housing market
My awareness of the Delray Beach housing market is an imperative aspect in your home search. I am familiar with all the schools and neighborhoods, and I can alert you to what districts are "hot" and require immediate action and others that are "cool" and allow for more consideration.
As we tour homes, I'll make sure to communicate if the seller's asking price has room for bargaining or if I believe the house is "priced to sell."
When working with an agent, be mindful and make sure you ask plenty of questions. Every real estate agent in Delray Beach will convince you they understand the housing market.
If it doesn't seem like they know everything, call me at 561-929-5799 or e-mail me at , and I'd be glad to answer your questions. My knowledge of the market will help you stay a step above the rest throughout the entire deal.
Step 5 – Find the house you've been looking for
I know we'll find your dream home in Delray Beach. When that happens, I'll thoroughly create your purchase offer. The offer will be made to suit your needs and the home. We'll include several contingencies, such as obtaining financing, completing the home inspection, and a clear title.
When we send in your purchase offer, most likely you'll need to submit "earnest money." This is a cash deposit submitted to the home seller to secure an offer to purchase the property and is usually applied to the closing costs. If the seller accepts your offer, we should close on the property within 30 to 60 days after. This allows sufficient time for your mortgage financing.
Step 6 – Negotiate the deal
Unfortunately most contracts aren't closed on the first offer, and it's extremely common to receive a counter offer. But don't let it alarm you. We'll talk over whether or not to accept the counter offer, submit our own counter offer, or refuse the seller's offer and move on.
The state of the market determines how aggressively we negotiate the deal.
In addition, we'll work within your budget. And when it's all said and done, we'll assemble a contract that works well for you.
Step 7 – Get financing
Upon completion of the deal, you'll start working with your lender to close the loan.
If you're already pre-qualified, this shouldn't take very long at all, but you'll need to keep in close contact with your mortgage lender.
And I'll care for all the property information your mortgage lender will need to close the loan.
Step 8 – Close the deal
Your lender will furnish you with a Loan Estimate (LE) detailing closing costs within three days of taking your application. You'll get a Loan Estimate (LE) detailing your closing costs from your lender within three days of accepting your loan application.
This estimate rests on the loan amount. RESPA requirements require that it has to contain all closing costs and be within a narrow range of accuracy, and I'll examine the estimate and let you know if everything looks permissible.
Then it's time to close on your home. This will likely occur at a title company or escrow office and should be a smooth and easygoing occasion.
Step 9 – Move in
Congratulations! It's time to move into your new home. Enjoy it. And if you have any questions, be sure to call me at 561-929-5799 or e-mail me at .