Let EZ Home Search Real Estate assist you in purchasing your home in Fall River
Buying a home is intimidating for a lot of people. However, with a bit of planning ahead of time, it isn't too difficult. I like to furnish buyers with a road map of the entire deal so they know exactly what they can expect. Here are my nine steps to purchasing a home.
Step 1 – Get ready to purchase a home
There are several things you'll want to take into account before you search for a home. You'll probably want to put together an outline of must-haves, get a feel for what neighborhoods and school districts you'd like to live in, and begin planning your budget. Ensuring your mortgage payment is less than or around 30 percent of your net monthly income is a good guideline to follow.
Step 2 – Talk to a real estate agent
That's where I come in. I'd be more than happy to plan a time to get together with you and communicate with you about your real estate needs and get an idea of your future plans. We'll discuss the mortgage and housing industries, other economic factors that might affect your buying decision today or in the future, as well as neighborhoods and schools in the Fall River area.
I'll also help you get started on your loan. EZ Home Search Real Estate works with some of Fall River's best mortgage professionals, so you'll be in great hands. They will assist you in deciding which kind of loan is best for you and help you get qualified.
Step 3 – Start looking
After our first meeting, I'll start searching for houses on the market that meet your needs. I'll get a sneak peek of most of the homes and throw out the bad ones, and then we'll book appointments to tour the homes when it's convenient for you.
When we tour homes, I'll show you the positive features, as well as bad ones. I'll even ask you what things you like and don't like. Generally, buyers amend their wish list as we tour homes and some items become far more substantial than others. If that happens, I'll search all the listings another time and trim it down to the house you've been waiting for.
Step 4 – Know the market
Your agent's awareness of the Fall River housing market is an imperative element in your home search. And I assure you I'm informed of all the school districts and neighborhoods, and I will let you know what areas are "hot" and require immediate action and the ones that are "cool" and allow for thoughtful examination.
As we tour houses, I'll be sure to tell you when the asking price has room for negotiation and when I know the home is "priced to sell." Any REALTOR® in Fall River will tell you they truly understand the home market, but be wary, and be sure to ask a lot of questions. If it appears they don't know everything, contact me at 508-642-9459 or e-mail me at firstname.lastname@example.org, and I'll be glad to answer your questions. My knowledge of the market will help you stay a step ahead through the entire deal.
Step 5 – Find the home you've been waiting for
I'm positive we'll find your dream house in Fall River. When we do, I'll precisely develop your real estate purchase offer. The offer will be tailored with your needs in mind, including several contingencies. A few examples are obtaining financing, carrying out the home inspection, and a clean title.
Upon sending in your purchase offer, you'll want to present "earnest money." This is a cash deposit submitted to a home seller to secure the offer to buy the property, and it's typically applied to the cost of closing. If the seller accepts your offer, we should close on the home about 30 to 60 days after. This allows sufficient time for your mortgage financing.
Step 6 – Negotiate
A lot of contracts don't close on the first offer – it's really common to receive a counter offer. Don't let it intimidate you. We'll talk about whether or not to consent to the counter offer, propose our own counter offer, or refuse the seller's offer and move on.
How aggressively we negotiate the deal depends on the state of the market. We'll also work within your financing budget. And at the end of the day, we'll create a contract that works well for you.
Step 7 – Get a loan
Once the contract is signed, you'll begin working with your mortgage lender to close the loan. If you're pre-approved, it won't be a long process at all. But you'll want to stay in close contact with your lender. And I'll sort out 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) outlining your closing costs within three days of getting your application. The estimate is formed from the loan amount, and RESPA requirements dictate that it has to contain all closing costs and fall within a precise range of accuracy. I'll go over the estimate and let you know if it all looks adequate.
Then we'll close on your home. This will likely take place at a title company or escrow office and is often a smooth and comfortable occurrence.
Step 9 – Move in
Congratulations! Now you can move into your new house. Enjoy it. And if you need anything or have any questions, make sure you call me at 508-642-9459 or send me an e-mail.