Buying or selling a home?

With a little up-front planning, purchasing a home isn't too hard, but the event intimidates many people. I like to furnish buyers with an outline of the entire deal so they'll understand exactly what to expect. Below are my nine steps to purchasing a home. Should you have any questions regarding any of this information or if you're prepared to get started, you can contact me here or e-mail me at .

Step 1 – Prepare to buy
Before you begin your home search, there are several things you'll want to consider. You'll probably want to create a list of features you want, plan for what neighborhoods and school districts you want to live in, and start planning your budget. Ensuring your mortgage payment is around 30 percent of your net monthly income is a good guideline to adhere to.

Step 2 – Talk to a real estate agent
That's where I can help. I'd love to plan a time to meet with you and speak with you about your real estate needs and get an idea of your plans for the future. We'll discuss the mortgage and housing industries, other economic factors that could potentially affect your buying decision today or in the future, as well as neighborhoods and schools in the Austin area.

I can also assist you in getting started on your loan. There are some great mortgage professionals in Austin, and I work with a lot of them, so you can rest assured that you're in great hands. They'll help you choose which type of loan is best for you, as well as help you get approved.

Step 3 – Begin looking for a home
After our initial meeting, I'll start looking for available houses on the market that are a great fit for you. I'll preview most of the homes and throw out the bad ones, and then we'll schedule appointments to view the homes whenever it's most convenient for you.

When we tour 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. Usually, buyers revise their must-have list as we tour houses and some things become far more crucial than others. If that's the case, I'll look through the listings once more and narrow it down to the house you've been wishing for.

Step 4 – Comprehend the housing market
My knowledge of the Austin housing market is a fundamental agent in your house search. I am familiar with all the schools and neighborhoods, and I will let you know certain neighborhoods are "hot" and call for prompt action and the ones that are "cool" and allow for careful examination.

As we tour homes, I'll be sure to tell you when the asking price has room for negotiation and also when I believe the house is "priced to sell." When working with an agent, be mindful and make sure you ask plenty of questions. Every REALTOR in Austin will claim to understand the market. If it doesn't seem like they know everything, just call me at 512-241-1707 or e-mail me at , and I'll be more than happy to answer your questions. My market knowledge will keep you a step ahead through the entire deal.

Step 5 – Find the house you've been looking for
I'm certain we'll find your dream home in Austin. When we do, I'll meticulously develop your purchase offer. The offer will be made to suit your needs and the home. We'll include many contingencies, such as obtaining financing, finishing the inspection, and a clear title.

When turning in your purchase offer, you'll want to submit "earnest money." This is a cash deposit made to a seller to secure an offer to buy the property and is usually applied to the closing costs. If the offer is accepted by the seller, we should close about 30 to 60 days after. This allows plenty of time for your mortgage financing.

Step 6 – Negotiate
Unfortunately most deals don't close on the initial offer – it's widely common to receive a counter offer. But don't let it discourage you. We'll discuss whether or not to accept the counter offer, present our own counter offer, or reject the seller's offer and go on.

Market conditions determine how aggressively we negotiate the deal. In addition, we'll work within your financing limits. And when it's all said and done, we'll formulate a deal that's best for you.

Step 7 – Secure financing
After we sign the final contract, you'll begin working with your mortgage lender to close the loan. If you've been pre-approved, this won't take very long at all. But you need to keep in close contact with your mortgage lender. And I'll deal with all the property information your lender will need to close the loan.

Step 8 – Close the deal
Your lender will furnish you with a Loan Estimate (LE) of closing costs within three days of getting your application. You'll get a Loan Estimate (LE) detailing 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 include all closing costs and fall within a tight range of accuracy. I'll examine the estimate and let you know if everything looks all right.

Then it's time to close on your house. This will probably take place at a title company or escrow office and is often a smooth and easygoing occurrence.

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 512-241-1707 or e-mail me at .


IREAF, LLC

P.O. Box 143683
Austin, TX 78714-3683