Buying or selling a home?
With a little up-front planning, purchasing a home isn't too confusing, but the event intimidates many people.
So they understand exactly what to expect, I'll provide buyers with a road map of the whole deal.
Here are my nine steps to purchasing a home.
When you're ready to get started, simply contact me here or e-mail me at . I'm glad to address any questions you have regarding this information.
Step 1 – Get ready to buy a home
Before you begin looking for a home, there are plenty of things you'll want to take into account.
When you begin your search, you'll probably want to make a check list of features you want, plan for what school districts you want to live in, and begin working on your budget.
A good guideline to go by is that your mortgage payment should be less than or close to 30 percent of your net monthly income.
Step 2 – Communicate with a real estate agent in Cleveland
This is where Partnership Properties can help.
I'd love to schedule a time to meet with you and communicate with you about your real estate needs and get an idea of your upcoming plans.
We'll talk about everything from neighborhoods, school districts in the Cleveland area, the mortgage industry, to any other economic factors that might affect your purchase today or in the future.
I can also help you start the loan process.
Partnership Properties partners with some of Cleveland's best mortgage professionals, so you can rest assured that you're in great hands.
They can help you choose which kind of loan is best for you, as well as help you get approved.
Step 3 – Begin looking
After our first meeting, I'll begin finding houses on the market that are a good fit for you.
I'll preview most of the homes and throw out the duds, and then we'll schedule appointments to view the homes whenever it's most convenient for you.
As we tour the homes, I'll show you the positive features, as well as bad ones. I'll even ask you to talk about things you like and dislike.
It's widely common for buyers to change their must-have list as we tour homes and some features become far more necessary than others.
If that happens, I'll look through the listings one more time and narrow it down to the home you've been dreaming about.
Step 4 – Comprehend the market
My knowledge of the Cleveland market is an imperative agent in your house search. I'm conscious of all the school districts and neighborhoods, and I will let you know which districts are "hot" and warrant immediate action and the ones that are "cold" and allow for thoughtful examination.
As we tour houses, I'll make sure to communicate if the seller's asking price has room for bargaining or if I believe the home is "priced to sell."
Every real estate agent will tell you they truly know the housing market, but be mindful, and make sure you ask your agent plenty of questions.
If things don't add up, contact me at (662) 843-8850 or e-mail me at , and I'll be glad to answer any questions you may have. My market knowledge will help you stay a step ahead throughout the entire deal.
Step 5 – Find the house of your dreams
I'm certain we'll find your dream home in Cleveland. When we do, I'll thoroughly develop your purchase offer. The offer will be made to fit your needs and the home. We'll include several contingencies, such as obtaining financing, completing the home inspection, and a clear title.
When presenting your offer, most likely you'll want to present "earnest money." This is a cash deposit given to the seller to secure an offer to purchase the property and is most often applied to the closing costs. If the offer is accepted by the seller, we should close on the property about 30 to 60 days after. This allows ample time for your mortgage financing.
Step 6 – Negotiate the deal
Most deals don't close on the first offer. It's really common to receive a counter offer. But don't let it intimidate you. We'll discuss whether or not to agree to the counter offer, submit our own counter offer, or reject the seller's offer and move on.
Market circumstances determine how aggressively we negotiate the deal.
We'll also work within your financing constraints. And when it's all said and done, we'll assemble a contract that is best for you.
Step 7 – Get a loan
Upon finishing the contract, you'll start working with your lender to close the loan.
If you're pre-qualified, it won't take very long at all, but you'll want to stay in close contact with your mortgage lender.
And I'll manage all the property information your lender needs to close the loan.
Step 8 – Close the deal
You'll get a Loan Estimate (LE) of closing costs from your lender within three days of getting your loan application.
The estimate rests on the loan amount. RESPA requirements dictate that it has to include all closing costs and be within a precise range of accuracy, and I'll go over the estimate and let you know if everything looks all right.
Then it's time to close on your home. This should happen at a title company or escrow office and is often a smooth and easygoing occasion.
Step 9 – Move in
Congratulations! Now you can move into your new home. Enjoy it. And if you need anything or have any questions, be sure to call me at (662) 843-8850 or e-mail me at .