Buying or selling a home in Denton? Wright Real Estate can help.With some up-front planning, purchasing a home isn't very complicated, but the event can be stressful for a lot of people. I like to provide buyers with an overview of the whole deal so they understand exactly what to expect. Here are my nine steps to purchasing a home.
|When you're ready to get started, you can contact me here or send e-mail to email@example.com. I'm glad to address any questions you have regarding this information.|
Step 1 – Prepare to buy
There are plenty of things you'll want to do before you start looking for a home. You'll want to make a check list of items you want to have, get a plan of what school districts and neighborhoods you'd like to live in, and begin planning your budget. Ensuring your mortgage payment is around 30 percent of your monthly income is a good guideline to go by.
Step 2 – Speak with a real estate agent in Denton
This is where I can help. We can set up a time to get together so we can talk about your real estate needs and get an idea of your future plans. We'll discuss everything from neighborhoods, school districts in the Denton area, the mortgage and housing industries, to any other economic factors that might affect your purchase today or in the future.
In addition, I'll assist you with getting started on your loan. There are some great mortgage professionals in Denton, and I work with a lot of them, so you can rest assured that you're in great hands. They'll assist you with figuring out which type of loan is best for you and help you get approved.
Step 3 – Begin looking
After our initial meeting, I'll start searching for available houses on the market that are great for you. I'll research most of the houses and eliminate the duds, and then we'll book appointments to view the homes when it's most convenient for you.
As we tour houses, I'll point out positive features and negative ones. I'll even ask you to talk about things you like and dislike. Usually, buyers update their list of must-haves as we view houses and some features become more important than others. If such is the case, I'll look through the listings one more time and trim it down to the house of your dreams.
Step 4 – Know the market
Your agent's awareness of the Denton housing market is an essential aspect in your home search. And I assure you I'm familiar with all the neighborhoods and school districts, and I can communicate which neighborhoods are "hot" and demand immediate action and some that are "cool" and allow for thoughtful examination.
When we tour homes, I'll be sure to tell you when the list price has room for bargaining and also when I know the home is "priced to sell."
When working with an agent, be careful and be sure to ask a lot of questions. Any REALTOR® will tell you they truly know the market.
If it doesn't seem like they know everything, just call me at (410) 479-2000 or e-mail me at firstname.lastname@example.org, and I'd be glad to answer any questions you may have. My knowledge of the market will keep you a step ahead through the entire deal.
Step 5 – Find your dream house
I'm confident we'll find the home of your dreams in the Denton area, and when that happens, I'll precisely develop your home purchase offer. The offer will be written to suit your needs. Whenever necessary, I never forget to make contracts contingent upon items like your ability to secure financing and the results of the home inspection.
When we present your purchase offer, you'll need to submit "earnest money." This is a cash deposit given to the seller to secure the offer to buy the property, and it's often applied to the closing costs. If your offer is accepted, we should close within 30 to 60 days after. This allows enough time for your mortgage financing.
Step 6 – Negotiate the deal
Most contracts don't close on the first offer, and it's really common to receive a counter offer. But don't let this discourage you. We'll discuss whether or not to accept the counter offer, present our own counter offer, or refuse the seller's offer and go on.
Market circumstances will play a vital role in how aggressively we negotiate the contract. In addition, we'll work within your financing limits. And at the end of the day, we'll assemble a deal that is best for you.
Step 7 – Get your loan
Once we sign the final contract, you'll begin working with your lender to close the loan. This shouldn't be a long process at all if you're already pre-qualified, but you'll want to stay in close contact with your lender. And I'll take care of all the property information your lender needs to close the loan.
Step 8 – Close the deal
You'll get a Good Faith Estimate (GFE) of your closing costs from your mortgage lender within three days of receiving your loan application. The estimate is formed from the loan amount, and RESPA requirements mandate that it has to include 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 permissible.
Then it's time to close on your home. This will most often happen at a title company or escrow office and is often a smooth and peaceful occurrence.
Step 9 – Move in
Congratulations! Now you can move into your new house. Enjoy it. And if you have any questions, make sure you call me at (410) 479-2000 or send me an e-mail.