Are you purchasing a home in Tuckahoe?With some up-front planning, purchasing a home isn't that hard, but the event is intimidating for many people. So you understand exactly what to expect, I like to give my buyers an overview of the whole deal. These are my nine steps to buying a home.
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Step 1 – Prepare to buy
Before you start your home search, there are plenty of things you should contemplate. When you begin your search, you'll want to form an index of must-have features, plan for what neighborhoods and school districts you'd like to live in, and begin working on your budget. Ensuring your mortgage payment is less than or close to a third of your net monthly income is a good rule to adhere to.
Step 2 – Contact a real estate agent in Tuckahoe
That's where I come in. I'd be more than happy to plan a time to get together with you and communicate with you about your real estate needs and get an idea of your future plans. We'll talk about neighborhoods, school districts in the Tuckahoe area, the mortgage industry, and any additional economic factors that might affect your purchase today or in the future.
I'll also assist you in getting started on your loan. There are some very good mortgage professionals in Tuckahoe, and I work with a lot of them, so you can rest assured that you're in great hands. They can help you determine which kind of loan is best for you, as well as help you get approved.
Step 3 – Start house hunting
After our initial meeting, I'll start finding available homes on the market that suit your needs. I'll research most of the houses and eliminate the bad ones, and then we'll schedule appointments to tour the houses at a time that's convenient for you.
As we view homes, I'll identify good features and negative ones. And I'll ask you to point out what things you like and dislike. It's common for buyers to update their list of must-haves as we tour homes and some things become more necessary than others. If such is the case, I'll go back through all the listings again and trim it down to the house of your dreams.
Step 4 – Get a grasp of the market
An agent's knowledge of the Tuckahoe housing market is a necessary agent in your home search. And I can assure you I'm informed of all the neighborhoods and schools, and I will let you know certain areas are "hot" and call for immediate action and some that are "cool" and allow for thoughtful examination.
As we view homes, I'll let you know if the asking price has room for bargaining or if I believe the home is "priced to sell."
Be mindful and make sure you ask your agent lots of questions, as any real estate agent will claim to truly know the home market.
If things don't add up, contact me at 914-779-5252 or e-mail me at email@example.com, and I'll be glad to answer any questions you have. My understanding of the market will keep you a step above the rest through the entire deal.
Step 5 – Find the house you've been looking for
We'll find your dream house in the Tuckahoe area, and when we do, I'll thoroughly create your purchase offer. The offer will be written exactly to 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 turning in your offer, you'll need to present "earnest money." This is a cash deposit submitted to the seller to secure the offer to buy the property and is often applied to the cost of closing. If your offer is accepted by the seller, we should close on the property within 30 to 60 days afterward. This allows plenty of time for your mortgage financing.
Step 6 – Negotiate the deal
Unfortunately most deals don't close on the initial offer, and it's really common to receive a counter offer. But don't let this intimidate you. We'll talk over whether or not to consent to the counter offer, present our own counter offer, or refuse the seller's offer and move on.
Market circumstances will play a large role in how aggressively we negotiate the contract. We'll also work within your financing budget. And at the end of the day, we'll assemble a contract that's best for you.
Step 7 – Get financing
Once we sign the final deal, you'll start working with your lender to close the loan. If you're already pre-qualified, it won't take much time at all, but you should to stay in close contact with your mortgage lender. And I'll sort out all the property information your lender needs to close the loan.
Step 8 – Close the deal
Your mortgage lender will provide you with a Good Faith Estimate (GFE) outlining your closing costs within three days of receiving your loan application. You'll get a Good Faith Estimate (GFE) detailing closing costs from your mortgage lender within three days of receiving your loan application. This estimate rests on the loan amount, and RESPA requirements mandate that it has to contain all closing costs and be within a precise range of accuracy. I'll study the estimate and let you know if it all looks okay.
Then it's time to close on your home. This will probably take place at a title company or escrow office and will probably be a smooth and calm affair.
Step 9 – Move in
Success! It's time to move into your new house. Enjoy it. And if you have any questions, make sure you contact me at 914-779-5252 or send me an e-mail.