Are you buying your home in Grand Prairie? Target Cost Realty, LLC can help.
For many people, purchasing a home can be a stressful event. But with a bit of up-front planning, it isn't very hard.
So they'll know exactly what to expect, I like to supply buyers with a road map of the entire deal.
These are my nine steps to purchasing a home.
If you have any questions about any of this information or if you're ready to get started, just contact me here or e-mail me at .
Step 1 – Get ready to purchase a home
There are a lot of things you should take into account prior to beginning your home search.
It's likely that you'll want to form an outline of items you want, get a feel for what school districts and neighborhoods you want to live in, and begin planning your budget.
Keeping your mortgage payment less than 30 percent of your monthly income is a good principle to follow.
Step 2 – Communicate with a real estate agent
This is where Target Cost Realty, LLC can help.
We'll schedule a time to meet 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 neighborhoods, school districts in the Grand Prairie area, the mortgage and housing industries, and any other economic factors that may affect your buying decision today or in the future.
I can also assist you with getting started on your loan.
I work with some of Grand Prairie's finest mortgage professionals, so you can rest assured that you're in great hands.
They can help you determine which type of loan is best for you, as well as help you get qualified.
Step 3 – Begin looking for a house
After our initial meeting, I'll begin finding available houses on the market that are a good fit for you.
I'll preview many of the homes and ignore the duds, and then we'll schedule appointments to view the houses when it's convenient for you.
When we tour the homes, I'll identify good features and negative ones. I'll even ask you about things you like and dislike.
Frequently, buyers amend their list of must-haves as we view homes and some items become more substantial than others.
If that's the case, I'll look through the listings another time and trim it down to the home of your dreams.
Step 4 – Get a grasp of the housing market
My awareness of the Grand Prairie home market is a fundamental agent in your house search. I am familiar with all the neighborhoods and school districts, and I will let you know some neighborhoods are "hot" and call for immediate action and the ones that are "cool" and allow for careful examination.
When we view houses, I'll be sure to tell you if the seller's asking price has room for bargaining or if I believe the house is "priced to sell."
Be mindful and be sure to ask lots of questions, as any real estate agent in Grand Prairie will tell you they truly understand the housing market.
If things don't add up, call me at (972) 504-8021 or e-mail me at , and I'd be happy to answer any questions you have. My market expertise will keep you a step above the rest throughout the entire process.
Step 5 – Find the home you've been waiting for
I'm confident we'll find the house of your dreams in Grand Prairie. When that happens, I'll meticulously develop your purchase offer. The offer will be tailored with your needs in mind and the home, including some contingencies. A few examples are obtaining financing, finishing the home inspection, and a clear title.
When we turn in your offer, you'll need to submit "earnest money." This is a cash deposit submitted to the seller to secure an offer to purchase the property. The amount is usually applied to the cost of closing. If your offer is accepted, we should close within 30 to 60 days after. This allows plenty of time for your mortgage financing.
Step 6 – Negotiate
Unfortunately most deals don't close on the initial offer – it's very common to receive a counter offer. Don't let it intimidate you. We'll talk about whether or not to take the counter offer, propose our own counter offer, or decline the seller's offer and go on.
How aggressively we negotiate the contract depends on market circumstances.
We'll also work within your financing limits. And when it's all said and done, we'll compose a deal that's best for you.
Step 7 – Secure financing
Upon completing the deal, you'll begin working with your mortgage lender to close the loan.
If you've been pre-approved, it shouldn't take much time at all. But you'll need to stay in close contact with your lender.
And I'll care for all the property information your mortgage lender needs to close the loan.
Step 8 – Close the deal
Your lender will give you a Loan Estimate (LE) detailing your closing costs within three days of receiving your application. You'll get a Loan Estimate (LE) detailing your closing costs from your lender within three days of taking your loan application.
The estimate rests on the loan amount. RESPA requirements require 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 it all looks all right.
Then it's time to close on your house. This will probably happen at a title company or escrow office and is often 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 or have any questions, simply call me at (972) 504-8021 or e-mail me at .