Let Silver International Realty, Inc. assist you with buying your new home in Delray Beach
Buying a home intimidates a lot of people, but it isn't that confusing with a little planning ahead of time.
So they know exactly what to expect, I like to give buyers an overview of the entire deal.
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 glad to address any questions you have about this information.
Step 1 – Prepare to buy
There are several things you need to consider before you look for a home.
It's likely that you'll want to create an outline of items you need to have, get an idea of what school districts and neighborhoods you want to live in, and begin planning around your budget.
Keeping your mortgage payment around a third of your monthly income is a good rule of thumb to follow.
Step 2 – Get in touch with a real estate agent
That's where I can help.
I'd be more than happy to schedule a time to get together with you and talk about why you want to buy a home and get an idea of your future plans.
We'll talk about neighborhoods, school districts in the Delray Beach area, the mortgage and housing industries, and any other economic factors that might affect your purchase today or in the future.
In addition, I'll 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'll be in great hands.
They will assist you in deciding which kind of loan is best for you and help you get qualified.
Step 3 – Start house-hunting
Following our initial meeting, I'll start finding available homes on the market that meet your needs.
I'll preview many of the homes and eliminate the bad ones, and then we'll schedule appointments to tour the homes when it's convenient for you.
When we tour houses, I'll call attention to good features and bad ones. I'll also ask you to point out what things you like and dislike.
It's pretty common for buyers to revise their list of must-haves as we view homes and some items become more crucial than others.
If that happens, I'll go back through the listings once again and narrow it down to the home you've been dreaming about.
Step 4 – Understand the market
Your agent's awareness of the Delray Beach housing market is an imperative agent in your house search. And I assure you I'm familiar with all the school districts and neighborhoods, and I'll communicate certain neighborhoods are "hot" and warrant prompt action and others that are "cool" and allow for more consideration.
As we tour houses, I'll let you know when the seller's list price has room for bargaining and also when I know the house is "priced to sell."
When working with an agent, trust your instincts and be sure to ask plenty of questions, as every REALTOR in Delray Beach will claim to comprehend the home market.
If it doesn't seem like they know everything, just call me at 561-929-5799 or e-mail me at , and I'd be happy to answer any questions you have. My knowledge of the market will keep you a step above the rest throughout the entire deal.
Step 5 – Find the house of your dreams
I'm sure we'll find your dream house in Delray Beach. When that happens, I'll carefully create your home purchase offer. The offer will be tailored to suit your needs and the home, including a lot of contingencies, such as getting financing, completing the inspection, and a clear title.
When we turn in your purchase offer, you'll need to submit "earnest money." This is a cash deposit given to the home seller to secure the offer to purchase the property. The amount is usually put towards the cost of closing. If the offer is accepted, we should close on the home about 30 to 60 days afterward. This allows plenty of time for your mortgage financing.
Step 6 – Negotiate the deal
Unfortunately most contracts aren't closed on the first offer. It's extremely common to receive a counter offer. But don't let it discourage you. We'll figure out whether or not to consent to the counter offer, present our own counter offer, or decline the seller's offer and go on.
The state of the market determines how aggressively we negotiate the contract.
In addition, we'll work within your budget. And when it's all said and done, we'll create a deal that works well for you.
Step 7 – Obtain a loan
Upon finishing the deal, you'll start working with your mortgage lender to close the loan.
If you're already pre-approved, this shouldn't take long at all, but you'll need to keep in close contact with your mortgage lender.
And I'll sort out all the property information your mortgage lender will need to close the loan.
Step 8 – Close the deal
Your lender will send you a Loan Estimate (LE) of your closing costs within three days of getting your application. You'll get a Loan Estimate (LE) of closing costs from your mortgage lender within three days of taking your loan application.
This estimate depends on the loan amount. RESPA requirements mandate that it has to contain all closing costs and fall within a strict range of accuracy, and I'll go over the estimate and let you know if everything looks permissible.
Then we'll close on your house. This will most likely happen at a title company or escrow office and will likely be a smooth and peaceful affair.
Step 9 – Move in
Congratulations! Now you can move into your new home. 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 .