With a little up-front planning, buying a home isn't that complex, but the event can be stressful for a lot of people. So you'll know exactly what to expect, we like to supply our buyers with an outline of the whole deal. Below are our nine steps to buying a home.
||If you have questions about this information or if you're prepared to get started, you can call us at 954-900-2699 or e-mail us at Info@GreaterFloridaRealty.com.
Step 1 – Prepare to purchase
There are a lot of things you should consider before you start looking for a home. When you begin your search, you'll want to assemble an outline of items you want, get an idea of what neighborhoods you want to live in, and start planning your budget. A good guideline to adhere to is that your mortgage payment should be less than or around 1/3 of your monthly income.
Step 2 – Get in touch with a real estate agent
This is where We come in. We'd be happy to plan a time to meet with you and communicate with you about your real estate needs and get an idea of your future plans. We'll talk about everything from neighborhoods, schools in the Davie area, the mortgage and housing industries, to any other economic factors that could potentially affect your buying decision today or in the future.
We can also help you facilitate the loan process. We partner with some of the best mortgage professionals in South Florida, so you can rest assured that you're in great hands. They'll help you figure out which type of loan is best for you, as well as help you get qualified.
Step 3 – Begin looking for a house
After we meet for the first time, We will begin looking for homes on the market that are good for you. We will research many of the houses and remove the bad ones, and then we'll set up appointments to view the homes when it's convenient for you.
As i view houses, we will show you the positive features and negative ones. We will even ask you what things you like and don't like. Oftentimes, buyers amend their wish list as i tour homes and some features become more crucial than others. If such is the case, we will go back through all the listings again and trim it down to the house you've been dreaming about.
Step 4 – Understand the housing market
Our understanding of the South Florida home market is an essential resource in your house search. We are mindful of all the neighborhoods and school districts, and i will let you know certain neighborhoods are "hot" and demand immediate action and the others that are "cool" and allow for cautiousness.
As we view homes, we will let you know if the seller's list price has room for negotiation or if we believe the home is "priced to sell." Be mindful and make sure you ask plenty of questions, as every REALTOR® will convince you they truly understand the market. If it doesn't seem like they know everything, contact us at 954-900-2699 or e-mail us at firstname.lastname@example.org, and I will be more than happy to answer any questions you might have. Our market knowledge will keep you a step above the rest throughout the entire process.
Step 5 – Find the house you've been waiting for
We're confident we'll find your dream home in South Florida, and when we do, we will meticulously create your purchase offer. The offer will be tailored with your needs in mind. Whenever necessary, we never forget to make contracts contingent upon items like your ability to secure financing and the results of the home inspection.
When submitting your offer, most likely you'll want to present "earnest money." This is a cash deposit submitted to the home seller to secure the offer to purchase the property, and it's most often put towards the closing costs. Wef the seller accepts your offer, i should close on the property within 30 to 60 days afterward. This allows enough time for your mortgage financing.
Step 6 – Negotiate the deal
A lot of deals aren't closed on the initial offer – it's widely common to receive a counter offer. Don't let it intimidate you. We'll talk over whether or not to agree to the counter offer, submit our own counter offer, or refuse the seller's offer and move on.
Market circumstances determine how aggressively we negotiate the contract. We'll also work within your financing budget. And when it's all said and done, we'll assemble a contract that is best for you.
Step 7 – Get your loan
Upon finishing the contract, you'll begin working with your lender to close the loan. This shouldn't take long at all if you're already pre-approved, but you should to keep in close contact with your mortgage lender. And we will look after all the property information your lender will need to close the loan.
Step 8 – Close the deal
You'll get a Good Faith Estimate (GFE) outlining your closing costs from your lender within three days of getting your application. The estimate rests on the loan amount. RESPA requirements dictate that it has to include all closing costs and fall within a precise range of accuracy, and we will examine the estimate and let you know if everything looks all right.
Then we'll close on your house. This should occur at a title company or attorney's office and will most often be a smooth and calm 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, make sure you call us at 954-900-2699 or send me an e-mail.