With some up-front planning, buying a home isn't that difficult, but the event is intimidating for many people. So you'll understand exactly what to expect, we like to give our buyers a road map of the entire deal. These are our nine steps to purchasing a home.
When you're ready to get started, just contact us. We're glad to address questions you have about this information.
Step 1 – Get ready to buy
Before you begin searching for a home, there are plenty of things you'll want to consider. You'll most likely want to create an index of features you want to have, get a feeling for what neighborhoods and school districts you'd like to live in, and begin planning your budget. A good principle to adhere to is that your mortgage payment should be no more than a third of your net monthly income.
Step 2 – Talk to a real estate agent in Fruitland
This is where Premier Group Realty West comes in. We'd be happy to schedule a time to get together with you and communicate with you regarding your real estate needs and get an idea of your upcoming plans. We'll talk about everything from neighborhoods, school districts in the Fruitland area, the mortgage and housing industries, to any other economic factors that might affect your buying decision today or in the future.
In addition, we'll assist you with getting started on your loan. We work with some of the best mortgage professionals in Fruitland, so you'll be in great hands. They'll assist you in determining which type of loan is best for you and help you get qualified.
Step 3 – Begin your home search
After our first meeting, we'll begin looking for homes on the market that are good for you. We'll get a sneak peek of most of the homes and ignore the bad ones, and then we'll set up appointments to tour the homes whenever it's most convenient for you.
As we tour houses, we'll call attention to good features and negative ones. We'll even ask you to point out what things you like and don't like. Usually, buyers revise their wish list as we view homes and some things become more important than others. If that's the case, we'll look through the listings again and narrow it down to the house you've been waiting for.
Step 4 – Get a feel for the market
An agent's knowledge of the Fruitland home market is a crucial aspect in your home search. And we can assure you we're acquainted with all the school districts and neighborhoods, and I will let you know which neighborhoods are "hot" and warrant immediate action and the ones that are "cold" and allow for more analysis.
When we view houses, we'll be sure to tell you when the asking price has room for bargaining and when I believe the house is "priced to sell." Trust your instincts and make sure you ask lots of questions, as any REALTOR® in Fruitland will tell you they truly understand the home market. If it doesn't seem like they know everything, just call us at (208)452-5655 or contact us, and we'll be more than happy to answer any questions you might have. Our understanding of the market will keep you a step ahead through the entire process.
Step 5 – Find your dream home
We're confident we'll find the home of your dreams in the Fruitland area. When that happens, we'll thoroughly develop your purchase offer. The offer will be tailored exactly to your needs, including some contingencies, such as obtaining financing, carrying out the inspection, and a clean title.
Upon sending in your offer, you'll want to present "earnest money." This is a cash deposit submitted to the seller to secure an offer to buy the property. The amount is typically put towards the cost of closing. If the offer is accepted, we should close on the property within 30 to 60 days afterward. This allows enough time for your mortgage financing.
Step 6 – Negotiate the deal
A lot of contracts aren't closed on the initial offer. It's widely common to receive a counter offer. Don't let this discourage you. We'll consider whether or not to consent to the counter offer, propose our own counter offer, or reject the seller's offer and move on.
The state of the market will play a role in how aggressively we negotiate the contract. In addition, we'll work within your financing limits. And when it's all said and done, we'll put together a deal that is best for you.
Step 7 – Get financing
Once we sign the final sales contract, you'll begin working with your mortgage lender to close the loan. This won't take very long at all if you've been pre-qualified, but you'll need to keep in close contact with your lender. And we'll take care of all the property information your mortgage lender will need to close the loan.>
Your lender will furnish you with a Good Faith Estimate (GFE) detailing your closing costs within three days of taking your application. This estimate rests on the loan amount. RESPA requirements mandate that it has to include all closing costs and fall within a narrow range of accuracy, and we'll go over the estimate and let you know if everything looks okay.
Then it's time to close on your home. This should take place at a title company or escrow office and will probably be a smooth and hassle-free occurrence.
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