Purchasing your home in Shelton
With some up-front planning, purchasing a home isn't all that complex, but the event is intimidating for many people.
I like to give buyers an overview of the whole deal so they'll understand exactly what they can expect.
Here are my nine steps to purchasing a home.
Should you have questions regarding this information or if you're ready to get started, just contact me here or e-mail me at .
Step 1 – Prepare to buy
Before you commence your home search, there are a lot of things you need to do.
It's likely that you'll want to assemble a check list of must-have features, get a feel for what school districts you'd like to live in, and begin working on your budget.
Ensuring your mortgage payment is less than or around 30 percent of your net monthly income is a good rule of thumb to adhere to.
Step 2 – Communicate with a real estate agent
That's where I can help.
We'll plan a time to get together so we can talk about your real estate needs and get an idea of your plans for the future.
We'll discuss everything from neighborhoods, school districts in the Shelton area, the mortgage industry, to any other economic factors that may potentially affect your purchase today or in the future.
I can also help you facilitate the loan process.
There are some great mortgage professionals in Shelton, and I partner with a lot of them, so you can rest assured that you're in great hands.
They can assist you in choosing which kind of loan is best for you and help you get approved.
Step 3 – Begin your search
Following our initial meeting, I'll start finding homes on the market that are great for you.
I'll get a sneak peek of most of the houses and reject the duds, and then we'll set up appointments to tour the houses at a time that's convenient for you.
As we view the homes, I'll point out positive features and negative ones. I'll also ask you what things you like and don't like.
Usually, buyers change their wish list as we tour homes and some things become far more important than others.
If that's the situation, I'll go back through the listings again and trim it down to the house you've been dreaming about.
Step 4 – Know the market
Your agent's awareness of the Shelton home market is a crucial element in your house search. And I assure you I'm informed of all the school districts and neighborhoods, and I will alert you to which areas are "hot" and warrant prompt action and the ones that are "cold" and allow for thoughtful analysis.
When we view houses, I'll make sure to communicate if the asking price has room for bargaining or if I believe the home is "priced to sell."
When working with an agent, be on guard and make sure you ask plenty of questions, as any REALTOR will convince you they know the housing market.
If it seems like they don't know everything, just call me at (360) 426-5555 or e-mail me at , and I'd be glad to answer your questions. My understanding of the market will help you stay a step above the rest throughout the entire deal.
Step 5 – Find the home you've been waiting for
I'm confident we'll find your dream home in Shelton. When that happens, I'll carefully create your home purchase offer. The offer will be tailored with your needs in mind and the home, including some contingencies, such as acquiring financing, finishing the inspection, and a clean title.
When sending in your purchase offer, you'll need to present "earnest money." This is a cash deposit given to a seller to secure the offer to buy the property, and it's often put towards the cost of closing. If the seller accepts your offer, we should close on the property within 30 to 60 days after. This allows ample time for your mortgage financing.
Step 6 – Negotiate
A lot of contracts don't close on the initial offer, and it's extremely common to receive a counter offer. Don't let it discourage you. We'll talk about whether or not to agree to the counter offer, propose our own counter offer, or reject the seller's offer and go on.
The state of the market determines 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 create a contract that's best for you.
Step 7 – Secure financing
After the deal is signed, you'll start working with your mortgage lender to close the loan.
If you're already pre-qualified, it won't take very long at all, but you'll need to keep in close contact with your mortgage lender.
And I'll sort out all the property information your lender will need to close the loan.
Step 8 – Close the deal
Your lender will supply you with a Loan Estimate (LE) outlining your closing costs within three days of getting your loan application. You'll get a Loan Estimate (LE) detailing closing costs from your lender within three days of receiving your loan application.
The estimate rests on the loan amount. RESPA requirements order that it has to involve all closing costs and fall within a precise range of accuracy, and I'll go over the estimate and let you know if it all looks permissible.
Then it's time to close on your house. This will likely happen at a title company or escrow office and should be a smooth and easygoing event.
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 me at (360) 426-5555 or e-mail me at .