Are you contemplating purchasing your home in Grand Prairie?
Buying a home can be stressful for many people, but it's not very difficult with some planning ahead of time.
So they know exactly what they can expect, I'll give buyers a road map of the whole deal.
These are my nine steps to purchasing 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 – Get ready to purchase
There are a lot of things you'll want to do before you start looking for a home.
When you begin your search, you'll probably want to form a check list of items you need, plan for what neighborhoods you'd like to live in, and start planning your budget.
Ensuring your mortgage payment is less than or around 30 percent of your net monthly income is a good rule to follow.
Step 2 – Talk to a real estate agent
This is where Target Cost Realty, LLC comes in.
I'd like to schedule a time to get together with you and speak with you about your real estate needs and get an idea of your upcoming plans.
We'll discuss neighborhoods, schools in the Grand Prairie area, the mortgage industry, and any other economic factors that may affect your buying decision today or in the future.
I can also help you begin the loan process.
There are some great mortgage professionals in Grand Prairie, and I work with a lot of them, so you can rest assured that you're in great hands.
They'll assist you with deciding which kind of loan is best for you and help you get approved.
Step 3 – Begin looking
Following our initial meeting, I'll begin finding houses on the market that suit your needs.
I'll research many of the houses and exclude the duds, and then we'll set up appointments to view the houses when it's most convenient for you.
As we view homes, I'll point out good features and bad ones. I'll also ask you to point out what things you like and don't like.
Oftentimes, buyers update their must-have list as we tour houses and some features become more essential than others.
If that's the case, I'll look through all the listings once again and narrow it down to the home you've been waiting for.
Step 4 – Know the market
My knowledge of the Grand Prairie home market is a necessary aspect in your home search. I'm informed of all the schools and neighborhoods, and I can let you know what districts are "hot" and call for prompt action and the ones that are "cold" and allow for cautiousness.
When we tour houses, I'll be sure to tell you if the list price has room for bargaining or if I believe the house is "priced to sell."
Trust your instincts and make sure you ask plenty of questions, as any REALTOR in Grand Prairie will claim to know the market.
If things don't add up, just call me at (972) 504-8021 or e-mail me at , and I'd be glad to answer your questions. My market knowledge will help you stay a step ahead through the entire deal.
Step 5 – Find the house of your dreams
I know we'll find the home of your dreams in the Grand Prairie area. When that happens, I'll carefully develop your real estate purchase offer. The offer will be made to suit your needs and the home. We'll include a lot of contingencies, such as getting financing, completing the home inspection, and a clean title.
Upon turning in your offer, you'll likely need to present "earnest money." This is a cash deposit made to a home seller to secure the offer to buy the property. The amount is usually put towards the cost of closing. If your offer is accepted, we should close on the home about 30 to 60 days after. This allows plenty of time for your mortgage financing.
Step 6 – Negotiate the deal
Unfortunately most contracts aren't closed on the initial offer. It's widely common to receive a counter offer. But don't let this intimidate you. We'll consider whether or not to agree to the counter offer, present our own counter offer, or reject the seller's offer and go on.
Market conditions determine how aggressively we negotiate the contract.
We'll also work within your financing budget. And at the end of the day, we'll compose a deal that works well for you.
Step 7 – Secure a loan
Upon finalizing the deal, you'll start working with your mortgage lender to close the loan.
If you're already pre-qualified, it shouldn't be a long process at all, but you should to stay in close contact with your lender.
And I'll take care of 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 closing costs from your mortgage lender within three days of taking your application.
This estimate is based on the loan amount, and RESPA requirements require that it has to contain all closing costs and be within a tight range of accuracy. I'll analyze the estimate and let you know if everything looks adequate.
Then it's time to close on your home. This will likely occur at a title company or escrow office and will most likely be a smooth and comfortable affair.
Step 9 – Move in
Congratulations! It's time to move into your new home. Enjoy it. And if you have any questions, be sure to contact me at (972) 504-8021 or e-mail me at .