Buying a home is stressful for many people, but it isn't that complicated with some planning ahead of time.
I like to furnish buyers with a road map of the whole deal so they know exactly what they can expect.
Below are my nine steps to buying a home.
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When you're ready to get started, simply contact me here or send e-mail to eric@vegasrooftops.com. I'm happy to answer questions you have regarding this information.
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Step 1 – Get ready to purchase
Before you begin looking for a home, there are a lot of things you need to consider.
You'll probably want to put together an outline of features you need, get a feeling for what neighborhoods and school districts you'd like to live in, and begin planning your budget.
A good rule to adhere to is that your mortgage payment should be no more than 1/3 of your monthly income.
Step 2 – Talk to a real estate agent in Henderson
That's where I can help.
We'll book a time to meet so we can talk about why you want to buy a home and get an idea of your upcoming plans.
We'll talk about neighborhoods, school districts in the Henderson area, the mortgage industry, and any additional economic factors that could potentially affect your buying decision today or in the future.
In addition, I'll help you facilitate the loan process.
There are some excellent mortgage professionals in Henderson, and I work with a lot of them, so you can rest assured that 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 – Start your search
After we meet, I'll start looking for available homes on the market that meet your needs.
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 homes, I'll show you the positive features, as well as bad ones. And I'll ask you to talk about things you like and don't like.
Usually, buyers amend their wish list as we tour houses and some features become more substantial than others.
If that's the case, I'll look through all the listings one more time and trim it down to the home of your dreams.
Step 4 – Know the housing market
My awareness of the Henderson housing market is an indispensable asset in your house search. I am informed of all the neighborhoods and school districts, and I can communicate what districts are "hot" and call for prompt action and others that are "cold" and allow for careful consideration.
When we tour houses, I'll let you know if the list price has room for bargaining or if I believe the home is "priced to sell."
Every real estate agent in Henderson will claim to know the market, but be on guard, and be sure to ask your agent plenty of questions.
If things don't add up, contact me at (702) 233-4663 or e-mail me at eric@vegasrooftops.com, and I'd be glad to answer any questions you have. My market knowledge will keep you a step above the rest through the entire process.
Step 5 – Find the home you've been looking for
I'm positive we'll find the home of your dreams in Henderson. When we do, I'll thoroughly create your purchase offer. The offer will be tailored keeping your needs in mind, including many contingencies. A few examples are getting financing, finishing the home inspection, and a clear title.
When turning in your offer, you'll probably want to present "earnest money." This is a cash deposit made to a seller to secure an offer to purchase the property and is often applied to the closing costs. If the offer is accepted, we should close on the home about 30 to 60 days afterward. This allows ample time for your mortgage financing.
Step 6 – Negotiate the deal
A lot of deals aren't closed on the beginning offer – it's really common to receive a counter offer. But don't let this 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 move on.
The state of the market will play a part in how aggressively we negotiate the contract.
We'll also work within your budget. And when it's all said and done, we'll assemble a deal that's best for you.
Step 7 – Secure a loan
Once we sign the final sales contract, you'll start working with your mortgage lender to close the loan.
It won't be a long process at all if you're already pre-qualified, but you'll want 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
Your lender will supply you with a Good Faith Estimate (GFE) outlining your closing costs within three days of getting your loan application. You'll get a Good Faith Estimate (GFE) outlining closing costs from your mortgage lender within three days of getting your application.
The estimate rests on the loan amount, and RESPA requirements order that it has to involve all closing costs and be within a narrow range of accuracy. I'll analyze the estimate and let you know if it all looks good.
Then it's time to close on your house. This will probably take place at a title company or escrow office and will most often be a smooth and calm event.
Step 9 – Move in
You made it! Now you can move into your new home. Enjoy it. And if you need anything, make sure you call me at (702) 233-4663 or send me an e-mail.
