Buying a home can be stressful for most people. However, with some up-front planning, it isn't all that confusing.
So you'll know exactly what to expect, We like to give our buyers a road map of the whole deal.
Below are our nine steps to buying a home.
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If you have questions regarding this information or if you're prepared to get started, just contact us here or e-mail us at dineenrealty@yahoo.com.
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Step 1 – Prepare to buy a home
There are many things you should contemplate before commencing your home search.
You'll want to make a list of features you want, plan for what neighborhoods you want to live in, and start planning around your budget.
A good principle to follow is that your mortgage payment should be close to a third of your net monthly income.
Step 2 – Get in touch with a real estate agent in Sayreville
That's where We can help.
I'd like to plan a time to meet with you and speak with you about why you want to buy a home and get an idea of your future plans.
We'll discuss the mortgage industry, other economic factors that could affect your buying decision today or in the future, as well as neighborhoods and school districts in the Sayreville area.
I'll also assist you with getting started on your loan.
There are some very good mortgage professionals in Sayreville, and We partner with a lot of them, so you can rest assured that you're in great hands.
They will assist you with choosing which type of loan is best for you and help you get approved.
Step 3 – Begin looking for a home
After our initial meeting, We'll start searching for homes on the market that suit your needs.
I'll get a sneak peek of most of the houses and reject the bad ones, and then we'll schedule appointments to tour the houses when it's most convenient for you.
When we tour houses, We'll call attention to positive features, as well as negative ones. We'll even ask you to talk about things you like and don't like.
It's pretty common for buyers to amend their must-have list as we view homes and some features become more essential than others.
If that's the case, We'll go back through the listings once again and narrow it down to the house of your dreams.
Step 4 – Get a grasp of the housing market
My awareness of the Sayreville home market is an indispensable asset in your home search. We am conscious of all the neighborhoods and school districts, and We'll let you know some areas are "hot" and demand immediate action and some that are "cold" and allow for more analysis.
When we view homes, We'll let you know if the asking price has room for negotiation or if We believe the house is "priced to sell."
Any real estate agent in Sayreville will convince you they truly know the market, but be careful, and be sure to ask your agent plenty of questions.
If things don't add up, just call us at 732-613-9300 or e-mail us at dineenrealty@yahoo.com, and We'd be more than happy to answer any questions you may have. My knowledge of the market will help you stay a step above the rest through the entire deal.
Step 5 – Find the house you've been looking for
I know we'll find your dream house in Sayreville. When that happens, We'll precisely develop your purchase offer. The offer will be tailored to suit your needs, including several contingencies, such as acquiring financing, carrying out the inspection, and a clear title.
Upon turning in your offer, you'll want to submit "earnest money." This is a cash deposit submitted to a home seller to secure an offer to purchase the property, and it's often applied to the closing costs. If the seller accepts your offer, we should close on the property about 30 to 60 days after. This allows enough time for your mortgage financing.
Step 6 – Negotiate the deal
Most deals aren't closed on the beginning offer, and it's very common to receive a counter offer. Don't let it discourage you. We'll figure out whether or not to take the counter offer, propose our own counter offer, or refuse the seller's offer and move on.
The state of the market determines how aggressively we negotiate the contract.
In addition, we'll work within your budget. And when it's all said and done, we'll put together a deal that's best for you.
Step 7 – Get your loan
Once we sign the final sales contract, you'll begin working with your lender to close the loan.
If you've been pre-approved, this won't take very long at all. But you should to keep in close contact with your lender.
And We'll take care of all the property information your lender will need to close the loan.
Step 8 – Close the deal
Your mortgage lender will supply you with a Good Faith Estimate (GFE) outlining your closing costs within three days of receiving your application. You'll get a Good Faith Estimate (GFE) detailing closing costs from your mortgage lender within three days of getting your loan application.
This estimate rests on the loan amount. RESPA requirements require that it has to include all closing costs and be within a close range of accuracy, and We'll go over the estimate and let you know if it all looks good.
Then it's time to close on your home. This will probably occur at a title company or escrow office and should be a smooth and pleasant 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 contact us at 732-613-9300 or send us an e-mail.