For most people, buying a home can be an intimidating event. But with a bit of planning ahead of time, it isn't all that complicated. So you'll know exactly what to expect, I like to furnish my buyers with an outline of the whole deal. Below are my nine steps to buying a home.
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When you're ready to get started, just contact me here or send e-mail to fedenrealty@yahoo.com. I'm happy to address any questions you have about this information. |
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Step 1 – Prepare to purchase a home
There are plenty of things you need to contemplate before you look for a home. When you begin your search, you'll want to form a list of items you need to have, get an idea of what school districts you'd like to live in, and begin planning around your budget. A good principle to adhere to is that your mortgage payment should be a third of your monthly income.
Step 2 – Talk to a real estate agent in Port St Lucie
That's where I can help. I'll book a time to meet so we can talk about why you want to buy a home and get an idea of your plans for the future. We'll discuss neighborhoods, schools in the Port St Lucie area, the mortgage and housing industries, and any additional economic factors that may potentially affect your buying decision today or in the future.
In addition, I'll assist you in getting started on your loan. FEDEN Healthcare Education Institute partners with some of Port St Lucie's best mortgage professionals, so you're in great hands. They'll assist you with deciding which kind of loan is best for you and help you get approved.
Step 3 – Start your search
After our first meeting, I'll start finding available homes on the market that suit your needs. I'll preview most of the houses and ignore the bad ones, and then we'll book appointments to view the houses when it's most convenient for you.
When we view the houses, I'll call attention to positive features and bad ones. And I'll ask you what things you like and don't like. Frequently, buyers amend their must-have list as we tour homes and some items become more important than others. If that happens, I'll go back through all the listings another time and trim it down to the house you've been dreaming about.
Step 4 – Understand the market
Your agent's understanding of the Port St Lucie housing market is an imperative agent in your home search. And I assure you I'm acquainted with all the neighborhoods and school districts, and I will let you know which neighborhoods are "hot" and require prompt action and the rest that are "cool" and allow for careful analysis.
As we view homes, I'll be sure to tell you if the list price has room for negotiation or if I believe the house is "priced to sell." Every real estate agent in Port St Lucie will claim to know the housing market, but take notice, and be sure to ask your agent a lot of questions. If it seems like they don't know everything, contact me at 772-343-1650 or e-mail me at fedengroup@yahoo.com, and I'll be happy to answer your questions. My market knowledge will help you stay a step above the rest through the entire deal.
Step 5 – Find your dream house
I know we'll find the home of your dreams in Port St Lucie, and when that happens, I'll carefully create your purchase offer. The offer will be written with your needs in mind. Whenever necessary, I never forget to make contracts contingent upon items like acquiring financing and the results of the home inspection.
When we send in your offer, you'll need to present "earnest money." This is a cash deposit submitted to the home seller to secure an offer to buy the property. The amount is usually applied to the closing costs. If the seller accepts the offer, we should close on the home about 30 to 60 days afterward. This allows enough time for your mortgage financing.
Step 6 – Negotiate the deal
A lot of contracts aren't closed on the initial offer, and it's very common to receive a counter offer. But don't let it alarm you. We'll discuss whether or not to take the counter offer, present our own counter offer, or reject the seller's offer and go on.
The state of the market will play a vital role in how aggressively we negotiate the deal. In addition, we'll work within your budget. And when it's all said and done, we'll formulate a contract that works well for you.
Step 7 – Secure your loan
After we sign the final deal, you'll begin working with your mortgage lender to close the loan. If you've been pre-qualified, it won't take much time at all. However, you should to keep in close contact with your lender. And I'll manage all the property information your lender needs to close the loan.
Step 8 – Close the deal
Your mortgage lender will give you a Good Faith Estimate (GFE) outlining your closing costs within three days of getting your application. The estimate is formed from the loan amount, and RESPA requirements require that it has to involve all closing costs and fall within a narrow range of accuracy. I'll go over the estimate and let you know if everything looks all right.
Then it's time to close on your house. This will most often happen at a title company or escrow office and will most often be a smooth and comfortable affair.
Step 9 – Move in
You made it! It's time to move into your new home. Enjoy it. And if you have any questions, make sure you call me at 772-343-1650 or send me an e-mail.