Are you looking to buy a home in Delray Beach? Silver International Realty, Inc. can help.
For a lot of people, buying a home can be an intimidating event. But with a bit of planning ahead of time, it's not all that complicated.
I like to provide buyers with an overview of the whole deal so they'll understand exactly what to expect.
Here are my nine steps to purchasing a home.
Should you have questions about any of this information or if you're prepared to get started, just contact me here or e-mail me at .
Step 1 – Get ready to purchase
There are many things you need to consider before beginning your home search.
You'll most likely want to form an index of items you need, plan for what neighborhoods and school districts you'd like to live in, and start planning your budget.
Ensuring your mortgage payment is less than or close to 1/3 of your monthly income is a good principle to follow.
Step 2 – Talk to a real estate agent in Delray Beach
This is where I can help.
We'll set up a time to get together so we can talk about your real estate needs and get an idea of your plans for the future.
We'll discuss 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.
I'll also help you get started on your loan.
There are some very good mortgage professionals in Delray Beach, and I work with a lot of them, so you're in great hands.
They can help you decide which kind of loan is best for you, as well as help you get qualified.
Step 3 – Begin house-hunting
After our first meeting, I'll start finding available homes on the market that meet your needs.
I'll get a sneak peek of most of the houses and remove the bad ones, and then we'll set up appointments to tour the houses whenever it's convenient for you.
As we tour the homes, I'll point out positive features and negative ones. And I'll ask you what things you like and don't like.
Most often, buyers change their wish list as we view homes and some features become more essential than others.
If that happens, I'll go back through all the listings one more time and narrow it down to the house you've been wishing for.
Step 4 – Comprehend the housing market
My knowledge of the Delray Beach home market is a crucial factor in your house search. I am acquainted with all the schools and neighborhoods, and I will alert you to what areas are "hot" and demand immediate action and others that are "cold" and allow for cautiousness.
When we tour homes, I'll let you know when the list price has room for negotiation and also when I think the home is "priced to sell."
When working with an agent, be mindful and make sure you ask a lot of questions. Any real estate agent will claim to truly know the housing market.
If things don't add up, just call me at 561-929-5799 or e-mail me at , and I'd be glad to answer any questions you may have. My market knowledge will help you stay a step above the rest through the entire process.
Step 5 – Find the home of your dreams
We'll find your dream house in the Delray Beach area, and when that happens, I'll thoroughly create your purchase offer. The offer will be tailored with your needs in mind and the home, including a lot of contingencies. A few examples are acquiring financing, carrying out the home inspection, and a clean title.
Upon submitting your purchase offer, most likely you'll need to present "earnest money." This is a cash deposit made to the seller to secure the offer to buy the property, and it's often put towards the closing costs. If your offer is accepted, we should close about 30 to 60 days afterward. This allows ample time for your mortgage financing.
Step 6 – Negotiate
Most deals don't close on the initial offer – it's widely common to receive a counter offer. Don't let it discourage you. We'll talk over whether or not to agree to the counter offer, submit our own counter offer, or reject the seller's offer and go on.
How aggressively we negotiate the deal depends on market circumstances.
In addition, we'll work within your budget. And at the end of the day, we'll formulate a deal that is best for you.
Step 7 – Secure financing
Once the contract is signed, you'll start working with your mortgage lender to close the loan.
If you've been pre-approved, it won't take much time at all, but you'll want to stay in close contact with your lender.
And I'll handle all the property information your mortgage lender will need to close the loan.
Step 8 – Close the deal
Your mortgage lender will furnish you with a Loan Estimate (LE) of your closing costs within three days of taking your application. You'll get a Loan Estimate (LE) of closing costs from your mortgage lender within three days of getting your application.
This estimate is based on the loan amount, and RESPA requirements require that it has to include all closing costs and be within a close range of accuracy. I'll review the estimate and let you know if everything looks good.
Then it's time to close on your home. This should happen at a title company or escrow office and will most likely be a smooth and stress-free occurrence.
Step 9 – Move in
Congratulations! It's time to move into your new home. Enjoy it. And if you need anything, make sure you contact me at 561-929-5799 or e-mail me at .