Are you contemplating buying your new home in Austin? Issac W. Harper Real Estate Broker/Realtor© can help.
Buying a home is a stressful event for many people. However, with a little up-front planning, it's not very confusing.
I like to supply buyers with a road map of the whole deal so they know exactly what to expect.
Here are my nine steps to buying a home.
Should you have questions regarding this information or if you're ready to get started, you can contact me here or e-mail me at .
Step 1 – Get ready to purchase
Before you commence your home search, there are plenty of things you'll want to consider.
When you begin your search, you'll probably want to assemble a list of items you need, get a feeling for what neighborhoods and school districts you'd like to live in, and begin working on your budget.
Keeping your mortgage payment around a third of your net monthly income is a good guideline to go by.
Step 2 – Communicate with a real estate agent
That's where I come in.
I'd love to schedule a time to get together with you and speak with you regarding why you want to buy a home and get an idea of your plans for the future.
We'll talk about everything from neighborhoods, schools in the Austin area, the mortgage and housing industries, to any other economic factors that may affect your buying decision today or in the future.
In addition, I'll assist you with getting started on your loan.
There are some great mortgage professionals in Austin, and I partner with a lot of them, so you're in great hands.
They will assist you in determining which kind of loan is best for you and help you get approved.
Step 3 – Start house-hunting
Following our first meeting, I'll begin looking for available houses on the market that are a good fit for you.
I'll preview many of the homes and eliminate the duds, and then we'll book appointments to tour the houses when it's most convenient for you.
When we tour houses, I'll show you the positive features and bad ones. And I'll ask you to talk about things you like and dislike.
It's common for buyers to update their wish list as we tour houses and some items become more essential than others.
If that happens, I'll go back through the listings another time and trim it down to the home of your dreams.
Step 4 – Comprehend the housing market
My understanding of the Austin home market is an imperative component in your house search. I am conscious of all the neighborhoods and schools, and I'll alert you to what districts are "hot" and call for immediate action and some that are "cold" and allow for more examination.
When we tour houses, I'll let you know when the seller's list price has room for negotiation and when I think the home is "priced to sell."
When working with an agent, trust your instincts and make sure you ask a lot of questions. Any REALTOR in Austin will convince you they truly know the housing market.
If things don't add up, just call me at 5122032245 or e-mail me at , and I'd be happy to answer any questions you might have. My knowledge of the market will help you stay a step ahead through the entire deal.
Step 5 – Find the house you've been waiting for
We'll find your dream house in the Austin area, and when that happens, I'll precisely develop your purchase offer. The offer will be made to suit your needs and the home. We'll include several contingencies, such as acquiring financing, completing the home inspection, and a clear title.
When turning in your purchase offer, you'll want to present "earnest money." This is a cash deposit made to the seller to secure the offer to purchase the property. The amount is typically put towards the cost of closing. If the offer is accepted by the seller, we should close about 30 to 60 days after. This allows sufficient time for your mortgage financing.
Step 6 – Negotiate the deal
Unfortunately most contracts don't close on the first offer – it's pretty common to receive a counter offer. Don't let this intimidate you. We'll consider whether or not to take the counter offer, propose our own counter offer, or reject the seller's offer and go on.
The state of the market will play a part in how aggressively we negotiate the contract.
In addition, we'll work within your financing budget. And at the end of the day, we'll put together a deal that's best for you.
Step 7 – Secure a loan
Once the deal is complete, 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 need to keep in close contact with your mortgage lender.
And I'll take care of all the property information your mortgage lender needs to close the loan.
Step 8 – Close the deal
Your mortgage lender will furnish you with a Loan Estimate (LE) outlining closing costs within three days of taking your loan application. You'll get a Loan Estimate (LE) of closing costs from your mortgage lender within three days of getting your loan application.
This estimate rests on the loan amount, and RESPA requirements mandate that it has to involve all closing costs and be within a strict range of accuracy. I'll analyze the estimate and let you know if it all looks adequate.
Then we'll close on your home. This will most often occur at a title company or escrow office and should be a smooth and relaxed occasion.
Step 9 – Move in
Congratulations! Now you can move into your new home. Enjoy it. And if you need anything or have any questions, just call me at 5122032245 or e-mail me at .