Are you purchasing a home in San Antonio?Buying a home is intimidating for most people. However, with a little up-front planning, it's not very difficult. So you know exactly what to expect, I like to provide my buyers with an overview of the entire deal. These are my nine steps to purchasing a home.
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Step 1 – Prepare to buy
Before you start your home search, there are plenty of things you'll want to consider. When you begin your search, you'll probably want to make a check list of must-have features, get an idea of 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 a third of your net monthly income.
Step 2 – Get in touch with a real estate agent
That's where I can help. I can book a time to meet so we can talk about why you want to buy a home and get an idea of your future plans. We'll talk about the mortgage industry, other economic factors that may potentially affect your buying decision today or in the future, as well as neighborhoods and schools in the San Antonio area.
In addition, I'll help you facilitate the loan process. Premier Realty Group works with some of the best mortgage professionals in San Antonio, so you're in great hands. They will help you determine which kind of loan is best for you, as well as help you get approved.
Step 3 – Begin looking for a house
After our first meeting, I'll begin finding available homes on the market that are good for you. I'll preview most of the homes and remove the duds, and then we'll book appointments to tour the homes when it's convenient for you.
As we tour the houses, I'll point out positive features, as well as negative ones. I'll even ask you to point out what things you like and don't like. Oftentimes, buyers revise their must-have list as we tour homes and some features become far more substantial than others. If that happens, I'll go back through the listings once again and trim it down to the home of your dreams.
Step 4 – Know the market
An agent's awareness of the San Antonio housing market is a necessary component in your house search. And I can assure you I'm familiar with all the schools and neighborhoods, and I'll let you know what districts are "hot" and warrant prompt action and the ones that are "cold" and allow for careful examination.
As we tour houses, I'll let you know if the list price has room for negotiation or if I believe the house is "priced to sell."
Be mindful and be sure to ask lots of questions, as every real estate agent will convince you they understand the market.
If it appears they don't know everything, just call me at 2108707063 or e-mail me at firstname.lastname@example.org, and I'll be more than happy to answer your questions. My knowledge of the market will help you stay a step ahead through the entire process.
Step 5 – Find the home of your dreams
I'm certain we'll find the home of your dreams in San Antonio. When that happens, I'll precisely create your home purchase offer. The offer will be tailored exactly to your needs, including some contingencies. A few examples are acquiring financing, finishing the inspection, and a clear title.
When presenting your offer, you'll likely need to present "earnest money." This is a cash deposit submitted to the seller to secure an offer to purchase the property, and it's typically applied to the closing costs. If your offer is accepted by the seller, we should close on the property within 30 to 60 days afterward. This allows necessary time for your mortgage financing.
Step 6 – Negotiate the deal
A lot of deals don't close on the first offer – it's very common to receive a counter offer. But don't let this intimidate 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.
How aggressively we negotiate the contract depends on market conditions. In addition, we'll work within your budget. And when it's all said and done, we'll assemble a contract that works well for you.
Step 7 – Obtain a loan
After the contract is signed, you'll start working with your lender to close the loan. If you're pre-approved, this shouldn't take very long at all. But you'll want to keep in close contact with your lender. And I'll manage all the property information your lender needs to close the loan.
Step 8 – Close the deal
You'll get a Good Faith Estimate (GFE) of closing costs from your lender within three days of accepting your loan application. The estimate is formed from the loan amount. RESPA requirements order that it has to contain all closing costs and fall within a narrow range of accuracy, and I'll go over the estimate and let you know if everything looks permissible.
Then it's time to close on your home. This will most likely happen at a title company or escrow office and will likely be a smooth and hassle-free occurrence.
Step 9 – Move in
Congratulations! It's time to move into your new home. Enjoy it. And if you need anything, just call me at 2108707063 or send me an e-mail.