Purchasing a home in Denton with Century 21 Judge Fite Company
Buying a home is a stressful event for most people. However, with some planning ahead of time, it isn't all that complex.
I like to provide buyers with an outline of the entire deal so they know exactly what to expect.
These are my nine steps to purchasing a home.
Should you have any questions regarding this information or if you're prepared to get started, just contact me here or e-mail me at .
Step 1 – Get ready to buy
There are a lot of things you'll want to do prior to commencing your home search.
You'll most likely want to form a checklist of items you want, get a feel for what school districts you want to live in, and start planning your budget.
A good rule to adhere to is that your mortgage payment should be less than or close to 1/3 of your monthly income.
Step 2 – Speak with a real estate agent in Denton
This is where I can help.
I'd be happy to set up a time to get together with you and communicate with you about your real estate needs and get an idea of your plans for the future.
We'll discuss neighborhoods, schools in the Denton area, the mortgage and housing industries, and any additional economic factors that could affect your purchase today or in the future.
I'll also assist you in getting started on your loan.
There are some great mortgage professionals in Denton, and I partner with a lot of them, so you'll be in great hands.
They'll help you decide which kind of loan is best for you, as well as help you get qualified.
Step 3 – Begin your home search
After we meet for the first time, I'll begin finding houses on the market that are a good fit for you.
I'll get a sneak peek of many of the houses and throw out the bad ones, and then we'll schedule appointments to view the houses whenever it's convenient for you.
As we tour homes, I'll identify good features, as well as negative ones. And I'll ask you to tell us about things you like and dislike.
It's pretty common for buyers to revise their list of must-haves as we view homes and some things become far more important than others.
If that's the case, I'll look through the listings once more and trim it down to the home of your dreams.
Step 4 – Know the market
My understanding of the Denton market is a crucial aspect in your home search. I am acquainted with all the neighborhoods and school districts, and I will alert you to which neighborhoods are "hot" and warrant immediate action and some that are "cold" and allow for thoughtful examination.
When we tour 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 be sure to ask lots of questions. Any REALTOR will claim to know the home market.
If things don't add up, just call me at 940-483-1090 or e-mail me at , and I'd be glad to answer your questions. My knowledge of the market will keep you a step ahead throughout the entire process.
Step 5 – Find the house of your dreams
We'll find the home of your dreams in the Denton area, and when we do, I'll thoroughly develop your real estate purchase offer. The offer will be tailored exactly to your needs and the home, including many contingencies, such as getting financing, carrying out the inspection, and a clean title.
When we send in your offer, you'll want to submit "earnest money." This is a cash deposit given to the home seller to secure the offer to purchase the property, and it's often put towards the cost of closing. If the seller accepts your offer, we should close about 30 to 60 days after. This allows plenty of time for your mortgage financing.
Step 6 – Negotiate the deal
Unfortunately most deals don't close on the first offer, and it's really common to receive a counter offer. Don't let this discourage you. We'll consider whether or not to take the counter offer, submit our own counter offer, or refuse the seller's offer and go on.
Market circumstances will play a role in how aggressively we negotiate the contract.
In addition, we'll work within your financing budget. And when it's all said and done, we'll compose a contract that is best for you.
Step 7 – Get financing
Once the deal is signed, you'll start working with your mortgage lender to close the loan.
This won't be a long process at all if you're pre-qualified, but you should to keep in close contact with your mortgage lender.
And I'll care for all the property information your mortgage 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 receiving your application.
This estimate rests on the loan amount. RESPA requirements order that it has to involve all closing costs and fall within a close range of accuracy, and I'll go over the estimate and let you know if everything looks adequate.
Then it's time to close on your home. This will most likely take place at a title company or escrow office and will likely be a smooth and comfortable 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 call me at 940-483-1090 or e-mail me at .