Purchasing a home in Greenfield
Purchasing a home intimidates many people, but with a little planning ahead of time, it's not very difficult.
I like to give buyers a road map of the entire deal so they'll understand exactly what to expect.
Here are my nine steps to purchasing a home.
If you have questions regarding this information or if you're ready to get started, you can contact me here or e-mail me at .
Step 1 – Prepare to purchase
There are several things you should take into account before commencing your home search.
When you begin your search, you'll want to put together a check list of features you need, get a feeling for what neighborhoods you want to live in, and begin planning around your budget.
Ensuring your mortgage payment is no more than 30 percent of your monthly income is a good principle to follow.
Step 2 – Get in touch with a real estate agent in Greenfield
This is where Realiteam Real Estate Group comes in.
We can plan a time to get together so we can talk about your real estate needs and get an idea of your future plans.
We'll discuss neighborhoods, school districts in the Greenfield area, the mortgage industry, and any other economic factors that could potentially affect your purchase today or in the future.
I can also assist you in getting started on your loan.
I work with some of Greenfield's best mortgage professionals, so you're in great hands.
They'll assist you in deciding which type of loan is best for you and help you get approved.
Step 3 – Start house hunting
Following our first meeting, I'll start looking for homes on the market that are a good fit for you.
I'll get a sneak peek of most of the houses and remove the duds, and then we'll set up appointments to tour the homes when it's convenient for you.
When we tour the houses, I'll point out good features, as well as negative ones. I'll even ask you to tell us about things you like and dislike.
It's pretty common for buyers to update their wish list as we tour homes and some items become far more important than others.
If that happens, I'll go back through the listings again and narrow it down to the home you've been dreaming about.
Step 4 – Comprehend the market
An agent's understanding of the Greenfield housing market is a leading element in your home search. And I can assure you I'm acquainted with all the school districts and neighborhoods, and I'll alert you to some neighborhoods are "hot" and call for immediate action and some that are "cold" and allow for thoughtful consideration.
When we tour homes, I'll make sure to communicate if the seller's list price has room for negotiation or if I believe the house is "priced to sell."
When working with an agent, be careful and make sure you ask lots of questions, as any REALTOR will tell you they understand the market.
If it doesn't seem like they know everything, contact me at 4147278280 or e-mail me at , and I'd be more than happy to answer your questions. My knowledge of the market will keep you a step ahead throughout the entire process.
Step 5 – Find your dream home
I know we'll find the home of your dreams in Greenfield. When we do, I'll thoroughly create your real estate purchase offer. The offer will be tailored with your needs in mind and the home, including some contingencies. A few examples are getting financing, finishing the inspection, and a clean title.
When we present your purchase offer, you'll need to submit "earnest money." This is a cash deposit made to a seller to secure the offer to buy the property. The amount is often applied to the cost of closing. If the offer is accepted, we should close on the property about 30 to 60 days afterward. This allows plenty of time for your mortgage financing.
Step 6 – Negotiate the deal
Most deals aren't closed on the first offer, and it's extremely common to receive a counter offer. But don't let it intimidate you. We'll figure out whether or not to take the counter offer, submit our own counter offer, or refuse the seller's offer and go on.
How aggressively we negotiate the deal depends on market conditions.
In addition, we'll work within your financing budget. And when it's all said and done, we'll put together a deal that is best for you.
Step 7 – Secure financing
After the contract is finished, you'll start working with your mortgage lender to close the loan.
This won't take much time at all if you're pre-approved, but you'll want to keep in close contact with your mortgage lender.
And I'll look after all the property information your lender will need to close the loan.
Step 8 – Close the deal
You'll get a Loan Estimate (LE) detailing your closing costs from your mortgage lender within three days of receiving your loan application.
The estimate rests on the loan amount. RESPA requirements require that it has to include all closing costs and fall within a strict range of accuracy, and I'll study the estimate and let you know if it all looks good.
Then we'll close on your home. This will probably occur at a title company or escrow office and will most likely be a smooth and relaxed occurrence.
Step 9 – Move in
Congratulations! Now you can move into your new house. Enjoy it. And if you have any questions, simply call me at 4147278280 or e-mail me at .