Are you buying a new home in Austin?
Purchasing a home is intimidating for most people, but it's not that confusing with a bit of up-front planning.
So they'll know exactly what to expect, I'll furnish buyers with an outline of the whole deal.
These are my nine steps to buying a home.
When you're ready to get started, simply contact me here or e-mail me at . I'm happy to address any questions you have regarding this information.
Step 1 – Get ready to buy a home
There are many things you'll want to take into account prior to starting your home search.
You'll probably want to put together a checklist of items you need, get a feeling for what neighborhoods you'd like to live in, and start planning your budget.
Ensuring your mortgage payment is less than or close to 30 percent of your net monthly income is a good guideline to adhere to.
Step 2 – Communicate with a real estate agent in Austin
This is where I come in.
We can plan 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 talk about the mortgage industry, other economic factors that might affect your purchase today or in the future, as well as neighborhoods and schools in the Austin area.
I'll also assist you in getting started on your loan.
There are some excellent mortgage professionals in Austin, and I partner with a lot of them, so you can rest assured that you're in great hands.
They can assist you in choosing which kind of loan is best for you and help you get approved.
Step 3 – Start looking
After our first meeting, I'll start finding homes on the market that are good for you.
I'll research most of the homes and remove the duds, and then we'll schedule appointments to tour the houses at a time that's convenient for you.
As we tour the houses, I'll point out good features, as well as bad ones. I'll even ask you to point out what things you like and dislike.
As a rule, buyers amend their must-have list as we view houses and some things become more important than others.
If that happens, I'll go back through the listings another time and trim it down to the house you've been wishing for.
Step 4 – Get a grasp of the housing market
An agent's awareness of the Austin market is an essential agent in your house search. And I can assure you I'm informed of all the neighborhoods and schools, and I can communicate which neighborhoods are "hot" and call for immediate action and others that are "cold" and allow for careful examination.
As we view houses, I'll be sure to tell you if the seller's asking price has room for negotiation or if I believe the home is "priced to sell."
Any REALTOR in Austin will tell you they understand the housing market, but be careful, and make sure you ask your agent a lot of questions.
If it seems like they don't know everything, contact me at 5122032245 or e-mail me at , and I'll be glad to answer your questions. My knowledge of the market will help you stay a step above the rest throughout the entire process.
Step 5 – Find the home of your dreams
I'm certain we'll find your dream house in the Austin area. When that happens, I'll thoroughly develop your home purchase offer. The offer will be tailored keeping your needs in mind and the home, including several contingencies. A few examples are obtaining financing, carrying out the inspection, and a clear title.
When turning in your offer, you'll want to present "earnest money." This is a cash deposit given to the seller to secure the offer to purchase the property and is most often put towards the closing costs. If the offer is accepted, we should close on the property about 30 to 60 days after. This allows sufficient time for your mortgage financing.
Step 6 – Negotiate the deal
A lot of contracts aren't closed on the beginning offer. It's pretty common to receive a counter offer. But don't let it intimidate you. We'll consider whether or not to accept the counter offer, propose our own counter offer, or decline the seller's offer and go on.
Market conditions will play a part in how aggressively we negotiate the deal.
In addition, we'll work within your budget. And at the end of the day, we'll assemble a contract that is best for you.
Step 7 – Get your loan
Upon signing the contract, you'll begin working with your lender to close the loan.
If you're pre-approved, it shouldn't take very long at all, but you'll need to keep in close contact with your lender.
And I'll deal with all the property information your mortgage lender will need 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 getting your application.
The estimate is formed from 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 go over the estimate and let you know if it all looks all right.
Then we'll close on your house. This will most often take place at a title company or escrow office and will most often be a smooth and peaceful affair.
Step 9 – Move in
Congratulations! It's time to move into your new home. Enjoy it. And if you need anything, be sure to contact me at 5122032245 or e-mail me at .