Buying or selling a home?
Buying a home can be stressful for many people. However, with a bit of up-front planning, it's not all that complicated.
So they'll understand exactly what to expect, I'll supply buyers with an overview of the entire deal.
Here are my nine steps to buying a home.
Should you have questions about 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 purchase a home
Prior to starting your home search, there are several things you'll want to consider.
When you start your search, you'll want to make a check list of features you need, plan for what school districts you'd like to live in, and start planning your budget.
A good principle to follow is that your mortgage payment should be 30 percent of your net monthly income.
Step 2 – Get in touch with a real estate agent
This is where I can help.
I'd love to plan a time to get together with you and speak with you regarding your real estate needs and get an idea of your plans for the future.
We'll talk about neighborhoods, schools in the Boca Raton area, the mortgage industry, and any additional economic factors that may potentially affect your purchase today or in the future.
I can also assist you with getting started on your loan.
Salvo Real Estate Services works with some of the finest mortgage professionals in Boca Raton, so you can rest assured that you're in great hands.
They will help you decide which type of loan is best for you, as well as help you get qualified.
Step 3 – Begin your search
After our first meeting, I'll begin searching for available houses on the market that are good for you.
I'll get a sneak peek of many of the homes and eliminate the bad ones, and then we'll schedule appointments to tour the homes at a time that's convenient for you.
As we view houses, I'll show you the good features and negative ones. I'll also ask you to tell us about things you like and don't like.
It's common for buyers to amend their list of must-haves as we view houses and some items become more essential than others.
If that happens, I'll search all the listings once more and narrow it down to the house you've been dreaming about.
Step 4 – Comprehend the market
Your agent's knowledge of the Boca Raton home market is a crucial aspect in your house search. And I can assure you I'm informed of all the schools and neighborhoods, and I can communicate which areas are "hot" and require immediate action and others that are "cool" and allow for cautiousness.
As we tour houses, I'll make sure to communicate when the asking price has room for bargaining and also when I know the home is "priced to sell."
Be on guard and make sure you ask a lot of questions, as any REALTOR will tell you they understand the home market.
If it seems like they don't know everything, just call me at 561-441-5978 or e-mail me at , and I'd be glad to answer any questions you might have. My knowledge of the market will help you stay a step above the rest throughout the entire process.
Step 5 – Find the home you've been waiting for
I'm sure we'll find your dream home in the Boca Raton area. When we do, I'll meticulously create your purchase offer. The offer will be tailored to suit your needs and the home, including a lot of contingencies, such as acquiring financing, finishing the inspection, and a clean title.
Upon turning in your purchase offer, most likely you'll need to present "earnest money." This is a cash deposit made to the seller to secure an offer to buy the property and is usually put towards the cost of closing. If the offer is accepted by the seller, we should close on the property about 30 to 60 days afterward. This allows enough time for your mortgage financing.
Step 6 – Negotiate
A lot of contracts aren't closed on the beginning offer, and it's widely common to receive a counter offer. But don't let it alarm you. We'll talk about whether or not to agree to the counter offer, present 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 financing constraints. And when it's all said and done, we'll compose a deal that's best for you.
Step 7 – Obtain a loan
Once we sign the final deal, you'll start working with your lender to close the loan.
It won't take long at all if you've been pre-approved, but you'll want to stay in close contact with your mortgage lender.
And I'll look after all the property information your mortgage lender will need to close the loan.
Step 8 – Close the deal
Your mortgage lender will send you a Loan Estimate (LE) outlining your closing costs within three days of taking your loan application. You'll get a Loan Estimate (LE) of closing costs from your lender within three days of receiving your application.
This estimate rests on the loan amount, and RESPA requirements require that it has to involve all closing costs and be within a precise range of accuracy. I'll study the estimate and let you know if it all looks okay.
Then we'll close on your house. This will probably occur at a title company or escrow office and will likely be a smooth and relaxed event.
Step 9 – Move in
Congratulations! Now you can move into your new home. Enjoy it. And if you have any questions, be sure to contact me at 561-441-5978 or e-mail me at .