Buying a new home in Pinellas county?
Buying a home intimidates many people. However, with some planning ahead of time, it isn't too complex. I like to supply buyers with an overview of the whole deal so they'll know exactly what to expect. Here are my nine steps to purchasing a home.
Should you have any questions regarding this information or if you're prepared to get started, you can contact me here or send e-mail to firstname.lastname@example.org.
Step 1 – Prepare to buy
There are plenty of things you need to contemplate before you start searching for a home. You'll want to create a list of items you need to have, get a feeling for what school districts and neighborhoods you want to live in, and start planning around your budget. Keeping your mortgage payment less than 30 percent of your net monthly income is a good principle to follow.
Step 2 – Get with a real estate agent
This is where I can help. I'd be happy to set up a time to meet with you and speak with you regarding why you want to buy a home and get an idea of your upcoming plans. We'll talk about the mortgage and housing industries, other economic factors that may affect your purchase today or in the future, as well as neighborhoods and schools in the Pinellas county including Seminole, Largo, St Petersburg, and Clearwater.
I'll also help you begin the loan process. I work with some of the best mortgage professionals in Pinellas county, so you're in great hands. They can help you decide which kind of loan is best for you, as well as help you get approved.
Step 3 – Begin your search
After our initial meeting, I'll start finding homes on the market that suit your needs. I'll research many of the homes and throw out the bad ones, and then we'll book appointments to view the homes at a time that's convenient for you.
As we tour the houses, I'll call attention to positive features, as well as bad ones. And I'll ask you to point out what things you like and dislike. It's pretty common for buyers to change their list of must-haves as we tour homes and some items become more crucial than others. If such is the case, I'll look through all the listings another time and narrow it down to the house you've been waiting for.
Step 4 – Understand the market
An agent's knowledge of the housing market is a crucial component in your home search. And I can assure you I'm acquainted with all the school districts and neighborhoods, and I will alert you to what neighborhoods are "hot" and demand immediate action and the ones that are "cold" and allow for cautiousness.
When we tour houses, I'll let you know if the seller's list price has room for negotiation or if I believe the house is "priced to sell." When working with an agent, trust your instincts and make sure you ask lots of questions, as every real estate agent in Pinellas county will tell you they truly understand the home market. If things don't add up, contact me at (727) 542-4181 or e-mail me at email@example.com, and I'll be glad to answer any questions you might have. My knowledge of the market will help you stay a step ahead throughout the entire process.
Step 5 – Find the home you've been waiting for
I'm sure we'll find the home of your dreams. When that happens, I'll thoroughly create your purchase offer. The offer will be tailored keeping your needs in mind, including a lot of contingencies. A few examples are acquiring financing, completing the home inspection, and a clean title.
When we send in your offer, you'll need to present "earnest money." This is a cash deposit given to a home seller to secure the offer to buy the property and is often put towards the closing costs. If your offer is accepted, we should close within 30 to 60 days afterward. This allows necessary time for your mortgage financing.
Step 6 – Negotiate
Unfortunately most deals don't close on the first offer, and it's extremely common to receive a counter offer. But don't let it alarm you. We'll talk about whether or not to take the counter offer, submit our own counter offer, or decline the seller's offer and go on.
Market conditions will play a big part in how aggressively we negotiate the deal. In addition, we'll work within your financing budget. And when it's all said and done, we'll create a deal that works well for you.
Step 7 – Secure financing
After we sign the final deal, you'll begin working with your lender to close the loan. If you're pre-qualified, it shouldn't take long at all. But you should to stay in close contact with your mortgage lender. And I'll manage all the property information your lender needs to close the loan.>
Step 8 – Close the deal
You'll get a Good Faith Estimate (GFE) detailing closing costs from your lender within three days of getting your loan application. The estimate is based on the loan amount, and RESPA requirements mandate that it has to involve all closing costs and be within a tight range of accuracy. I'll go over the estimate and let you know if everything looks all right.
Then it's time to close on your house. This will likely occur at a title company or escrow office and is often a smooth and comfortable affair.
Step 9 – Move in
Success! Now you can move into your new home. Enjoy it. And if you need anything or have any questions, just contact me at (727) 542-4181 or send me an e-mail.