Buying or selling a home in Delray Beach?
With a little up-front planning, purchasing a home isn't all that hard, but the event can be stressful for many people.
I like to provide buyers with an outline of the entire deal so they understand exactly what they can expect.
These are my nine steps to purchasing a home.
When you're ready to get started, you can contact me here or e-mail me at . I'm happy to address any questions you have about this information.
Step 1 – Prepare to purchase
Prior to starting your home search, there are many things you should do.
When you begin your search, you'll probably want to make a check list of features you need to have, get a plan of what neighborhoods and school districts you want to live in, and begin planning around your budget.
Keeping your mortgage payment around 30 percent of your monthly income is a good principle to go by.
Step 2 – Contact a real estate agent in Delray Beach
This is where Silver International Realty, Inc. comes in.
I'd be happy to set up a time to meet with you and talk about why you want to buy a home and get an idea of your future plans.
We'll discuss the mortgage industry, other economic factors that could potentially affect your buying decision today or in the future, as well as neighborhoods and school districts in the Delray Beach area.
I'll also help you facilitate the loan process.
There are some great mortgage professionals in Delray Beach, and I partner with a lot of them, so you'll be in great hands.
They will help you choose which kind of loan is best for you, as well as help you get qualified.
Step 3 – Start your home search
After our first meeting, I'll start searching for available homes on the market that are a good fit for you.
I'll get a sneak peek of many of the houses and throw out the duds, and then we'll set up appointments to view the houses whenever it's convenient for you.
When we view the homes, I'll point out positive features, as well as negative ones. I'll also ask you about things you like and dislike.
It's widely common for buyers to revise their list of must-haves as we tour homes and some features become more crucial than others.
If that's the situation, I'll search the listings once more and trim it down to the home you've been wishing for.
Step 4 – Get a grasp of the market
My understanding of the Delray Beach housing market is an imperative aspect in your home search. I'm familiar with all the school districts and neighborhoods, and I can let you know which neighborhoods are "hot" and require immediate action and others that are "cool" and allow for careful analysis.
When we tour houses, I'll make sure to communicate when the seller's list price has room for bargaining and also when I believe the house is "priced to sell."
When working with an agent, trust your instincts and make sure you ask plenty of questions, as every REALTOR will claim to truly understand the home market.
If it seems like they don't know everything, just call me at 855-693-3572 X 1 or e-mail me at , and I'd be glad to answer any questions you have. My knowledge of the market will help you stay a step above the rest throughout the entire process.
Step 5 – Find the house you've been waiting for
We'll find the house of your dreams in the Delray Beach area, and when that happens, I'll precisely create your purchase offer. The offer will be tailored to suit your needs and the home, including several contingencies, such as getting financing, carrying out the inspection, and a clear title.
When we present your offer, you'll need to present "earnest money." This is a cash deposit made to a seller to secure the offer to buy the property. The amount is often put towards the cost of closing. If the seller accepts the offer, we should close within 30 to 60 days afterward. This allows ample time for your mortgage financing.
Step 6 – Negotiate
Most contracts aren't closed on the initial offer. It's widely common to receive a counter offer. But don't let this discourage you. We'll discuss whether or not to consent to the counter offer, submit our own counter offer, or refuse the seller's offer and move on.
Market circumstances determine how aggressively we negotiate the contract.
We'll also work within your budget. And at the end of the day, we'll assemble a deal that is best for you.
Step 7 – Secure financing
After the deal is complete, you'll begin working with your lender to close the loan.
This shouldn't take long at all if you're pre-approved, but you should to stay in close contact with your mortgage lender.
And I'll sort out all the property information your mortgage lender needs to close the loan.
Step 8 – Close the deal
Your lender will send you a Loan Estimate (LE) detailing closing costs within three days of taking your application. You'll get a Loan Estimate (LE) of your closing costs from your mortgage lender within three days of receiving your loan application.
This estimate is formed from the loan amount. RESPA requirements mandate that it has to involve all closing costs and fall within a close range of accuracy, and I'll examine the estimate and let you know if it all looks permissible.
Then we'll close on your home. This will most likely take place at a title company or escrow office and will most likely be a smooth and peaceful occurrence.
Step 9 – Move in
Congratulations! It's time to move into your new house. Enjoy it. And if you have any questions, be sure to contact me at 855-693-3572 X 1 or e-mail me at .