Buying or selling a home in Delray Beach?
Purchasing a home intimidates many people, but it isn't all that confusing with a bit of planning ahead of time.
So they know exactly what to expect, I will furnish buyers with a road map of the entire deal.
Here are my nine steps to purchasing a home.
If you have any questions regarding any of this information or if you're prepared to get started, simply contact me here or e-mail me at .
Step 1 – Prepare to buy
There are several things you should consider before starting your home search.
When you begin your search, you'll probably want to form an outline of must-have features, get a feeling for what neighborhoods and school districts you'd like to live in, and begin planning around your budget.
Ensuring your mortgage payment is around 30 percent of your monthly income is a good rule to adhere to.
Step 2 – Speak with a real estate agent
This is where I come in.
I'd like to plan a time to meet with you and talk about your real estate needs and get an idea of your upcoming plans.
We'll talk about neighborhoods, schools in the Delray Beach area, the mortgage industry, and any other economic factors that might affect your buying decision today or in the future.
I'll also assist you in getting started on your loan.
There are some great mortgage professionals in Delray Beach, and I partner with a lot of them, so you're in great hands.
They will assist you with figuring out which type of loan is best for you and help you get qualified.
Step 3 – Start your search
After we meet, I'll begin finding available houses on the market that best suit you.
I'll get a sneak peek of many of the homes and eliminate the bad ones, and then we'll book appointments to tour the homes at a time that's convenient for you.
When we view the homes, I'll show you the good features, as well as bad ones. I'll even ask you what things you like and don't like.
Most often, buyers change their must-have list as we view homes and some items become far more crucial than others.
If that's the situation, I'll search all the listings one more time and narrow it down to the home you've been dreaming about.
Step 4 – Understand the housing market
An agent's understanding of the Delray Beach market is a necessary component in your home search. And I assure you I'm acquainted with all the schools and neighborhoods, and I will let you know some neighborhoods are "hot" and warrant prompt action and others that are "cool" and allow for careful analysis.
As we tour homes, I'll be sure to tell you if the seller's list price has room for negotiation or if I believe the house is "priced to sell."
Any REALTOR in Delray Beach will claim to understand the housing market, but be on guard, and be sure to ask lots of questions.
If it seems like they don't know everything, just call me at 561-929-5799 or e-mail me at , and I'll be glad to answer your questions. My market expertise will keep you a step ahead throughout the entire deal.
Step 5 – Find the house you've been waiting for
I'm positive we'll find the house of your dreams in Delray Beach. When that happens, I'll carefully create your purchase offer. The offer will be made to suit your needs and the home. We'll include many contingencies, such as obtaining financing, completing the home inspection, and a clear title.
Upon submitting your offer, you'll want to present "earnest money." This is a cash deposit given to a seller to secure the offer to buy the property. The amount is usually put towards the closing costs. If the offer is accepted by the seller, we should close on the home within 30 to 60 days afterward. This allows plenty of time for your mortgage financing.
Step 6 – Negotiate
A lot of contracts don't close on the beginning offer. It's widely common to receive a counter offer. But don't let it discourage you. We'll figure out whether or not to accept the counter offer, submit our own counter offer, or decline the seller's offer and go on.
Market conditions determine how aggressively we negotiate the deal.
We'll also work within your financing constraints. And when it's all said and done, we'll compose a deal that's best for you.
Step 7 – Get a loan
Once the deal is signed, you'll begin working with your lender to close the loan.
If you're pre-approved, it won't take much time at all, but you need to keep in close contact with your lender.
And I'll take care of all the property information your lender needs to close the loan.
Step 8 – Close the deal
Your mortgage lender will give you a Loan Estimate (LE) of your closing costs within three days of taking your application. You'll get a Loan Estimate (LE) outlining your closing costs from your mortgage lender within three days of accepting your application.
This estimate rests on the loan amount. RESPA requirements require that it has to involve all closing costs and be within a tight range of accuracy, and I'll analyze the estimate and let you know if everything looks adequate.
Then it's time to close on your home. This will most often occur at a title company or escrow office and is often a smooth and peaceful occurrence.
Step 9 – Move in
Congratulations! Now you can move into your new house. Enjoy it. And if you need anything, simply call me at 561-929-5799 or e-mail me at .