Are you purchasing a new home in Delray Beach?
Buying a home is stressful for a lot of people, but with some up-front planning, it's not that confusing.
So they'll understand exactly what they can expect, I will supply buyers with an overview of the entire deal.
Below 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 glad to answer questions you have about this information.
Step 1 – Prepare to buy
There are plenty of things you need to do before you search for a home.
When you start your search, you'll probably want to make a check list of must-have features, get an idea of what neighborhoods and school districts you'd like to live in, and start working on your budget.
A good rule to go by is that your mortgage payment should be a third of your monthly income.
Step 2 – Communicate with a real estate agent
That's where I come in.
We can arrange a time to get together so we can talk about your real estate needs and get an idea of your future plans.
We'll talk about the mortgage industry, other economic factors that could affect your purchase today or in the future, as well as neighborhoods and schools in the Delray Beach area.
In addition, I'll assist you in getting started on your loan.
I work with some of Delray Beach's best mortgage professionals, 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 approved.
Step 3 – Begin looking for a house
After we meet for the first time, I'll begin looking for available homes on the market that are great for you.
I'll get a sneak peek of most of the homes and eliminate the bad ones, and then we'll set up appointments to view the homes whenever it's most convenient for you.
When we view houses, I'll identify good features, as well as negative ones. And I'll ask you to point out what things you like and don't like.
Most often, buyers change their wish list as we tour houses and some features become more essential than others.
If that's the case, I'll look through all the listings another time and trim it down to the house you've been wishing for.
Step 4 – Get a grasp of the housing market
My understanding of the Delray Beach home market is an essential factor in your home search. I'm acquainted with all the neighborhoods and schools, and I can let you know which areas are "hot" and demand immediate action and others that are "cold" and allow for more 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 house is "priced to sell."
When working with an agent, be careful and make sure you ask lots of questions, as every REALTOR in Delray Beach will tell you they comprehend the home market.
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 knowledge of the market will keep you a step above the rest through the entire process.
Step 5 – Find the house you've been waiting for
I'm confident we'll find your dream home in the Delray Beach area. When we do, I'll carefully create your home purchase offer. The offer will be made to fit your needs and the home. We'll include some contingencies, such as obtaining financing, carrying out the home inspection, and a clean title.
When we turn in your purchase offer, you'll need to present "earnest money." This is a cash deposit made to the home seller to secure an offer to buy the property, and it's often applied to the closing costs. If your offer is accepted by the seller, we should close about 30 to 60 days afterward. This allows plenty of time for your mortgage financing.
Step 6 – Negotiate
Unfortunately most deals aren't closed on the beginning offer – it's widely common to receive a counter offer. But don't let this intimidate you. We'll figure out whether or not to agree to the counter offer, submit our own counter offer, or reject the seller's offer and move on.
Market conditions determine how aggressively we negotiate the deal.
In addition, we'll work within your budget. And when it's all said and done, we'll create a deal that's best for you.
Step 7 – Get financing
After the contract is complete, you'll begin working with your mortgage lender to close the loan.
If you've been pre-qualified, this won't take long at all, but you'll want to keep in close contact with your lender.
And I'll sort out all the property information your lender will need to close the loan.
Step 8 – Close the deal
You'll get a Loan Estimate (LE) detailing closing costs from your mortgage lender within three days of taking your loan application.
The estimate is based on the loan amount. RESPA requirements mandate that it has to contain all closing costs and fall within a tight range of accuracy, and I'll study the estimate and let you know if it all looks all right.
Then it's time to close on your home. This should happen at a title company or escrow office and will most often be a smooth and peaceful occurrence.
Step 9 – Move in
Congratulations! It's time to move into your new home. Enjoy it. And if you need anything, simply contact me at 561-929-5799 or e-mail me at .