Buying or selling a home?
Purchasing a home is a stressful event for many people. However, with a little up-front planning, it isn't very confusing.
I like to provide buyers with an overview of the whole deal so they'll know exactly what to expect.
These are my nine steps to buying a home.
When you're ready to get started, you can contact me here or e-mail me at . I'm happy to address any questions you have about this information.
Step 1 – Get ready to buy a home
Before you start looking for a home, there are many things you should consider.
You'll want to assemble a checklist of items you want, get a feel for what neighborhoods you want to live in, and begin working on your budget.
Keeping your mortgage payment around a third of your net monthly income is a good rule to follow.
Step 2 – Contact a real estate agent in Branson
This is where Rob Robbins comes in.
We can arrange a time to get together so we can talk about why you want to buy a home and get an idea of your plans for the future.
We'll discuss the mortgage industry, other economic factors that could affect your purchase today or in the future, as well as neighborhoods and school districts in the Branson area.
In addition, I'll help you get started on your loan.
Rob Robbins partners with some of Branson's best mortgage professionals, so you can rest assured that you're in great hands.
They can assist you in deciding which type of loan is best for you and help you get approved.
Step 3 – Begin looking for a home
After our initial meeting, I'll begin looking for houses on the market that are good for you.
I'll research many of the homes and reject the bad ones, and then we'll schedule appointments to tour the houses at a time that's convenient for you.
When we view homes, I'll identify positive features and negative ones. I'll even ask you to point out what things you like and don't like.
It's common for buyers to amend their list of must-haves as we tour homes and some items become far more important than others.
If that happens, I'll search the listings one more time and trim it down to the house of your dreams.
Step 4 – Comprehend the housing market
My understanding of the Branson home market is an imperative aspect in your house search. I am acquainted with all the schools and neighborhoods, and I'll communicate which districts are "hot" and warrant immediate action and some that are "cool" and allow for more analysis.
As we tour homes, I'll make sure to communicate if the asking price has room for negotiation or if I believe the home is "priced to sell."
When working with an agent, be careful and make sure you ask a lot of questions, as any REALTOR will tell you they understand the home market.
If it doesn't seem like they know everything, call me at (417) 334-1374 or e-mail me at , and I'd be glad to answer any questions you have. My understanding of the market will keep you a step above the rest throughout the entire deal.
Step 5 – Find your dream home
I'm positive we'll find the home of your dreams in Branson. When we do, I'll meticulously develop your real estate purchase offer. The offer will be tailored keeping your needs in mind and the home, including many contingencies, such as getting financing, finishing the inspection, and a clear title.
When submitting your purchase offer, you'll need to submit "earnest money." This is a cash deposit made to a home seller to secure the offer to purchase the property and is usually put towards the cost of closing. If the seller accepts your offer, we should close on the home within 30 to 60 days after. This allows plenty of time for your mortgage financing.
Step 6 – Negotiate
Most deals don't close on the initial offer, and it's really common to receive a counter offer. Don't let this discourage you. We'll discuss whether or not to agree to the counter offer, propose our own counter offer, or decline the seller's offer and move on.
How aggressively we negotiate the deal depends on market conditions.
In addition, we'll work within your financing limits. And at the end of the day, we'll assemble a deal that is best for you.
Step 7 – Obtain financing
After we sign the final sales contract, you'll begin working with your lender to close the loan.
If you're already pre-approved, this shouldn't take much time at all. However, you'll need to keep in close contact with your 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) detailing your closing costs from your lender within three days of receiving your loan application.
The estimate depends on the loan amount. RESPA requirements mandate that it has to contain all closing costs and fall within a narrow range of accuracy, and I'll examine the estimate and let you know if it all looks good.
Then we'll close on your house. This will most likely occur at a title company or escrow office and is often a smooth and calm affair.
Step 9 – Move in
Congratulations! Now you can move into your new home. Enjoy it. And if you need anything or have any questions, be sure to contact me at (417) 334-1374 or e-mail me at .