Purchasing your home in Cleveland?
For many people, purchasing a home can be a stressful event. But with a little up-front planning, it isn't that hard.
So they'll understand exactly what to expect, I will give buyers an outline of the whole deal.
Below are my nine steps to purchasing a home.
If you have any questions about any of this information or if you're prepared to get started, you can contact me here or e-mail me at .
Step 1 – Get ready to buy
Before you start searching for a home, there are many things you need to take into account.
When you begin your search, you'll want to form a check list of features you want to have, get a feeling for what school districts you'd like to live in, and start working on your budget.
Ensuring your mortgage payment is less than a third of your monthly income is a good guideline to go by.
Step 2 – Speak with a real estate agent
This is where I come in.
We'll plan a time to meet so we can talk about your real estate needs and get an idea of your upcoming plans.
We'll talk about the mortgage and housing industries, other economic factors that could affect your buying decision today or in the future, as well as neighborhoods and school districts in the Cleveland area.
I'll also assist you with getting started on your loan.
Partnership Properties works with some of Cleveland's best mortgage professionals, so you can rest assured that you're in great hands.
They'll assist you with choosing which type of loan is best for you and help you get approved.
Step 3 – Start house hunting
After our initial meeting, I'll begin finding available houses on the market that suit your needs.
I'll get a sneak peek of many of the homes and exclude the bad ones, and then we'll book appointments to view the homes whenever it's convenient for you.
As we view the houses, I'll identify good features and negative ones. And I'll ask you about things you like and don't like.
Generally, buyers change their list of must-haves as we tour homes and some items become far more essential than others.
If that's the situation, I'll search all the listings once more and trim it down to the home you've been dreaming about.
Step 4 – Know the market
Your agent's knowledge of the Cleveland housing market is an essential aspect in your house search. And I can assure you I'm familiar with all the neighborhoods and school districts, and I'll communicate which neighborhoods are "hot" and call for prompt action and others that are "cool" and allow for more examination.
When we view homes, I'll be sure to tell you if the list price has room for bargaining or if I believe the home is "priced to sell."
When working with an agent, trust your instincts and make sure you ask a lot of questions, as any REALTOR will convince you they truly know the home market.
If it doesn't seem like they know everything, just call me at (662) 843-8850 or e-mail me at , and I'd be happy to answer any questions you might have. My knowledge of the market will help you stay a step ahead through the entire deal.
Step 5 – Find your dream home
We'll find your dream home in Cleveland, and when we do, I'll precisely create your purchase offer. The offer will be tailored with your needs in mind and the home, including many contingencies. A few examples are getting financing, finishing the home inspection, and a clean title.
Upon sending in your offer, you'll likely want to present "earnest money." This is a cash deposit made to a seller to secure the offer to buy the property. The amount is usually put towards the closing costs. If the seller accepts your offer, we should close about 30 to 60 days after. This allows sufficient time for your mortgage financing.
Step 6 – Negotiate
Most deals aren't closed on the beginning offer – it's pretty common to receive a counter offer. But don't let it alarm you. We'll talk over whether or not to agree to the counter offer, submit our own counter offer, or decline the seller's offer and move on.
Market circumstances will play a large role in how aggressively we negotiate the deal.
In addition, we'll work within your financing constraints. And at the end of the day, we'll assemble a deal that's best for you.
Step 7 – Secure your loan
Once we sign the final sales contract, you'll start working with your lender to close the loan.
This won't be a long process at all if you're already pre-qualified, but you need to stay in close contact with your mortgage lender.
And I'll look after all the property information your mortgage lender needs to close the loan.
Step 8 – Close the deal
Your mortgage lender will provide you with a Good Faith Estimate (GFE) detailing your closing costs within three days of taking your loan application. You'll get a Good Faith Estimate (GFE) of closing costs from your lender within three days of getting your loan application.
This estimate is formed from the loan amount, and RESPA requirements order that it has to contain all closing costs and be within a narrow range of accuracy. I'll analyze the estimate and let you know if it all looks good.
Then it's time to close on your home. This will most likely occur at a title company or escrow office and will most often be a smooth and hassle-free event.
Step 9 – Move in
Congratulations! Now you can move into your new home. Enjoy it. And if you have any questions, just call me at (662) 843-8850 or e-mail me at .