Are you contemplating purchasing a home? Get the nine steps to purchasing a home.
Purchasing a home is intimidating for many people, but it's not that confusing with a little planning ahead of time.
So they know exactly what to expect, I'll give buyers a road map of the entire deal.
Here are my nine steps to purchasing a home.
When you're ready to get started, just contact me here or e-mail me at . I'm happy to address questions you have about this information.
Step 1 – Prepare to purchase a home
There are a lot of things you need to consider before starting your home search.
When you start your search, you'll want to create an index of features you want, get an idea of what neighborhoods and school districts you want to live in, and begin working on your budget.
Keeping your mortgage payment around a third of your monthly income is a good rule of thumb to follow.
Step 2 – Talk to a real estate agent in Jacksonville
This is where I come in.
We can plan a time to meet so we can talk about your real estate needs and get an idea of your upcoming plans.
We'll talk about everything from neighborhoods, school districts in the Jacksonville area, the mortgage industry, to any other economic factors that could potentially affect your buying decision today or in the future.
In addition, I'll help you get started on your loan.
Choice Jacksonville Realty works with some of the best mortgage professionals in Jacksonville, so you're in great hands.
They will assist you with deciding which type of loan is best for you and help you get qualified.
Step 3 – Begin your search
Following our first meeting, I'll begin looking for houses on the market that meet your needs.
I'll preview many of the houses and reject the duds, and then we'll set up appointments to tour the homes when it's most convenient for you.
When we view homes, I'll point out good features and negative ones. And I'll ask you to tell us about things you like and dislike.
Usually, buyers change their wish list as we view homes and some items become more essential than others.
If that happens, I'll search all the listings once more and narrow it down to the house of your dreams.
Step 4 – Comprehend the housing market
Your agent's understanding of the Jacksonville housing market is a leading agent in your house search. And I assure you I'm conscious of all the schools and neighborhoods, and I'll let you know some districts are "hot" and demand prompt action and some that are "cold" and allow for careful consideration.
When we tour homes, I'll make sure to communicate if the seller's asking price has room for bargaining or if I believe the home is "priced to sell."
When working with an agent, be mindful and make sure you ask plenty of questions. Every REALTOR will claim to truly understand the housing market.
If it doesn't seem like they know everything, contact us at (910) 577-1000, and I'll be glad to answer any questions you have. My market expertise will keep you a step ahead throughout the entire deal.
Step 5 – Find your dream home
I'm positive we'll find the home of your dreams in Jacksonville. When we do, I'll precisely create your home purchase offer. The offer will be tailored to suit your needs and the home, including many contingencies, such as acquiring financing, finishing the inspection, and a clean title.
Upon presenting your offer, you'll probably need to present "earnest money." This is a cash deposit submitted to a home seller to secure an offer to buy the property, and it's most often put towards the cost of closing. If the seller accepts your offer, we should close within 30 to 60 days after. This allows necessary time for your mortgage financing.
Step 6 – Negotiate the deal
A lot of deals aren't closed on the first offer. It's really common to receive a counter offer. Don't let it intimidate you. We'll discuss whether or not to agree to the counter offer, present our own counter offer, or reject the seller's offer and move on.
Market circumstances will play a vital role in how aggressively we negotiate the contract.
In addition, we'll work within your financing constraints. And when it's all said and done, we'll compose a deal that is best for you.
Step 7 – Obtain a loan
Once the contract is finished, you'll start working with your mortgage lender to close the loan.
It won't take long at all if you're already pre-qualified, but you'll want to stay in close contact with your mortgage lender.
And I'll sort out 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) outlining your closing costs from your mortgage lender within three days of getting your loan application.
This estimate is formed from the loan amount. RESPA requirements mandate that it has to contain all closing costs and fall within a narrow range of accuracy, and I'll analyze the estimate and let you know if it all looks good.
Then we'll close on your house. This will probably take place at a title company or escrow office and will probably be a smooth and easygoing occasion.
Step 9 – Move in
Congratulations! It's time to move into your new house. Enjoy it. And if you need anything or have any questions, be sure to call me at (910) 577-1000 or e-mail me at .