Are you buying a new home in Denton? Century 21 Judge Fite Company can help.
Purchasing a home can be stressful for most people, but it isn't very hard with some planning ahead of time.
I like to supply buyers with an overview of the entire deal so they'll understand exactly what they can expect.
These are my nine steps to buying 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
Before you begin your home search, there are a lot of things you need to contemplate.
When you begin your search, you'll want to create a check list of features you want to have, plan for what school districts and neighborhoods you want to live in, and start planning around your budget.
Keeping your mortgage payment less than 1/3 of your net monthly income is a good guideline to go by.
Step 2 – Communicate with a real estate agent in Denton
This is where I come in.
I'd be happy to schedule a time to meet with you and communicate with you regarding your real estate needs and get an idea of your future plans.
We'll talk about the mortgage and housing industries, other economic factors that may affect your buying decision today or in the future, as well as neighborhoods and schools in the Denton area.
In addition, I'll help you start the loan process.
There are some excellent mortgage professionals in Denton, and I work with a lot of them, so you can rest assured that you're in great hands.
They will assist you with choosing which kind of loan is best for you and help you get qualified.
Step 3 – Start house-hunting
After our first meeting, I'll start looking for available homes on the market that suit your needs.
I'll preview many of the homes and throw out the bad ones, and then we'll set up appointments to tour the houses whenever it's most convenient for you.
As we view houses, I'll show you the good features, as well as bad ones. And I'll ask you to point out what things you like and don't like.
It's common for buyers to amend their must-have list as we tour houses and some things become more necessary than others.
If that's the case, I'll go back through the listings once more and trim it down to the house you've been waiting for.
Step 4 – Understand the housing market
My understanding of the Denton housing market is an essential aspect in your house search. I'm acquainted with all the school districts and neighborhoods, and I can communicate what areas are "hot" and require prompt action and the ones that are "cold" and allow for thoughtful analysis.
As we tour homes, I'll be sure to tell you when the list price has room for bargaining and when I trust the house is "priced to sell."
When working with an agent, trust your instincts and be sure to ask plenty of questions. Any real estate agent in Denton will tell you they comprehend the market.
If things don't add up, call me at 940-483-1090 or e-mail me at , and I'll be more than happy to answer your questions. My market knowledge will keep you a step above the rest through the entire deal.
Step 5 – Find the house of your dreams
We'll find your dream home in the Denton area, and when we do, I'll meticulously create your purchase offer. The offer will be tailored exactly to your needs and the home, including several contingencies, such as getting financing, finishing the inspection, and a clear title.
Upon sending in your purchase offer, you'll probably want to present "earnest money." This is a cash deposit made to a home seller to secure an offer to purchase the property and is usually put towards the closing costs. If the seller accepts the offer, we should close on the property about 30 to 60 days afterward. This allows enough time for your mortgage financing.
Step 6 – Negotiate the deal
Most contracts aren't closed on the first offer. It's really common to receive a counter offer. Don't let this discourage you. We'll figure out whether or not to accept the counter offer, present our own counter offer, or reject the seller's offer and move on.
The state of the market will play a vital 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 contract that's best for you.
Step 7 – Obtain a loan
Upon signing the contract, you'll begin working with your mortgage lender to close the loan.
If you're pre-qualified, this shouldn't take long at all, but you'll want to stay in close contact with your mortgage lender.
And I'll handle all the property information your lender will need 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 receiving your application.
The estimate is formed from the loan amount, and RESPA requirements require that it has to contain all closing costs and be within a precise range of accuracy. I'll analyze the estimate and let you know if everything looks permissible.
Then it's time to close on your house. This will most likely take place 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 have any questions, make sure you contact me at 940-483-1090 or e-mail me at .