Buying a new home in Delray Beach with Silver International Realty, Inc.
For a lot of people, purchasing a home can be an intimidating event. However, with a little planning ahead of time, it's not too complicated.
I like to give buyers a road map of the entire deal so they understand exactly what they can expect.
Here are my nine steps to purchasing a home.
When you're ready to get started, just contact me here or e-mail me at . I'm happy to answer questions you have about this information.
Step 1 – Prepare to purchase
Before you start searching for a home, there are many things you should consider.
When you begin your search, you'll probably want to assemble a checklist of features you need to have, get an idea of what neighborhoods 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 rule to adhere to.
Step 2 – Contact a real estate agent in Delray Beach
This is where I come in.
We'll arrange a time to meet so we can talk about why you want to buy a home and get an idea of your future plans.
We'll discuss the mortgage and housing industries, other economic factors that might affect your buying decision today or in the future, as well as neighborhoods and schools in the Delray Beach area.
I'll also assist you with getting started on your loan.
There are some great mortgage professionals in Delray Beach, and I work with a lot of them, so you're in great hands.
They can assist you with determining which type of loan is best for you and help you get approved.
Step 3 – Start looking for a home
After we meet, I'll start finding available homes on the market that are a good fit for you.
I'll get a sneak peek of most of the houses and ignore the bad ones, and then we'll schedule appointments to view the houses when it's most convenient for you.
As we view homes, I'll call attention to positive features and bad ones. I'll also ask you to tell us about things you like and don't like.
It's common for buyers to change their must-have list as we tour houses and some features become far more necessary than others.
If that happens, I'll look through the listings another time and trim it down to the home you've been dreaming about.
Step 4 – Get a grasp of the market
My understanding of the Delray Beach housing market is an essential aspect in your home search. I am familiar with all the neighborhoods and school districts, and I will alert you to some neighborhoods are "hot" and demand immediate action and others that are "cold" and allow for careful analysis.
When we view homes, I'll make sure to communicate if the seller's asking price has room for negotiation or if I believe the home is "priced to sell."
When working with an agent, be careful and be sure to ask lots of questions. Any REALTOR in Delray Beach will tell you they truly know the home market.
If things don't add up, contact me at 561-929-5799 or e-mail me at , and I'd be glad to answer any questions you may have. My market expertise will help you stay a step above the rest through the entire deal.
Step 5 – Find the house of your dreams
We'll find your dream house in Delray Beach, and when we do, I'll precisely create your real estate purchase offer. The offer will be tailored with your needs in mind and the home, including many contingencies, such as getting financing, finishing the inspection, and a clean title.
When presenting your offer, you'll want to submit "earnest money." This is a cash deposit submitted to a seller to secure the offer to buy the property, and it's usually put towards the cost of closing. If the seller accepts your offer, we should close on the home about 30 to 60 days afterward. This allows enough time for your mortgage financing.
Step 6 – Negotiate
Unfortunately most contracts don't close on the first offer – it's pretty common to receive a counter offer. But don't let it alarm you. We'll figure out whether or not to accept the counter offer, submit our own counter offer, or reject the seller's offer and move on.
Market circumstances determine how aggressively we negotiate the contract.
We'll also work within your financing constraints. And when it's all said and done, we'll compose a contract that works well for you.
Step 7 – Secure a loan
Upon completion of the deal, you'll start working with your lender to close the loan.
If you've been pre-approved, this won't be a long process at all. But you'll want to stay in close contact with your lender.
And I'll look after all the property information your lender needs to close the loan.
Step 8 – Close the deal
You'll get a Loan Estimate (LE) of your closing costs from your lender within three days of accepting your application.
This estimate rests on the loan amount, and RESPA requirements require that it has to involve all closing costs and fall within a tight range of accuracy. I'll review the estimate and let you know if it all looks adequate.
Then we'll close on your home. This will probably occur at a title company or escrow office and is often a smooth and relaxed occasion.
Step 9 – Move in
Congratulations! Now you can move into your new house. Enjoy it. And if you need anything or have any questions, be sure to contact me at 561-929-5799 or e-mail me at .