Are you contemplating purchasing a new home in Austin?
Purchasing a home can be stressful for many people. However, with some up-front planning, it isn't that complicated.
So they understand exactly what to expect, I will supply buyers with an outline of the whole deal.
Here are my nine steps to purchasing a home.
If you have questions regarding this information or if you're prepared to get started, you can contact me here or e-mail me at .
Step 1 – Get ready to purchase a home
There are several things you should do before beginning your home search.
When you begin your search, you'll probably want to create a check list of features you want to have, get an idea of what school districts you want to live in, and begin planning your budget.
Keeping your mortgage payment less than or close to 30 percent of your monthly income is a good principle to go by.
Step 2 – Communicate with a real estate agent in Austin
This is where I come in.
We can set up a time to meet so we can talk about why you want to buy a home and get an idea of your future plans.
We'll discuss everything from neighborhoods, schools in the Austin area, the mortgage industry, to any other economic factors that may affect your buying decision today or in the future.
I'll also help you get started on your loan.
I partner with some of Austin's best mortgage professionals, so you can rest assured that you're in great hands.
They can help you determine which type of loan is best for you, as well as help you get qualified.
Step 3 – Begin your search
Following our first meeting, I'll begin finding available houses on the market that are good for you.
I'll research many of the homes and reject the bad ones, and then we'll set up appointments to view the houses whenever it's convenient for you.
As we tour homes, I'll call attention to good features and bad ones. And I'll ask you about things you like and don't like.
As a rule, buyers change their wish list as we view houses and some things become more substantial than others.
If that's the case, I'll look through the listings another time and narrow it down to the house of your dreams.
Step 4 – Know the housing market
Your agent's knowledge of the Austin housing market is a leading component in your home search. And I can assure you I'm familiar with all the neighborhoods and schools, and I'll alert you to certain neighborhoods are "hot" and require prompt action and the ones that are "cold" and allow for thoughtful analysis.
As we view homes, I'll be sure to tell you if the asking price has room for negotiation or if I believe the home is "priced to sell."
When working with an agent, be careful and make sure you ask lots of questions, as any real estate agent in Austin will claim to know the market.
If things don't add up, just call me at 5122032245 or e-mail me at , and I'll be glad to answer any questions you may have. My market expertise will help you stay a step ahead through the entire process.
Step 5 – Find the home of your dreams
We'll find the home of your dreams in the Austin area, and when we do, I'll meticulously create your real estate purchase offer. The offer will be made to fit your needs and the home. We'll include many contingencies, such as getting financing, carrying out the inspection, and a clean title.
When presenting your offer, most likely you'll need to submit "earnest money." This is a cash deposit made to a home seller to secure the offer to buy the property and is often applied to the cost of closing. If the seller accepts the offer, we should close on the property within 30 to 60 days after. This allows necessary time for your mortgage financing.
Step 6 – Negotiate
A lot of contracts aren't closed on the initial offer – it's really common to receive a counter offer. But don't let it alarm you. We'll talk about whether or not to accept the counter offer, present our own counter offer, or decline 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 assemble a contract that's best for you.
Step 7 – Get financing
After we sign the final sales contract, you'll begin working with your lender to close the loan.
If you're already pre-qualified, it won't take long at all, but you should to stay in close contact with your lender.
And I'll deal with all the property information your mortgage lender needs to close the loan.
Step 8 – Close the deal
You'll get a Loan Estimate (LE) of closing costs from your lender within three days of accepting your loan application.
This estimate rests on the loan amount, and RESPA requirements order that it has to contain all closing costs and fall within a tight range of accuracy. I'll examine the estimate and let you know if everything looks adequate.
Then it's time to close on your house. This will most likely take place at a title company or escrow office and will most likely be a smooth and peaceful event.
Step 9 – Move in
Congratulations! Now you can move into your new house. Enjoy it. And if you have any questions, be sure to call me at 5122032245 or e-mail me at .