Looking to buy your new home in Grand Prairie? Target Cost Realty, LLC can help.
Buying a home intimidates many people, but with some up-front planning, it isn't too confusing.
So they'll understand exactly what to expect, I'll supply buyers with an outline of the entire deal.
Here are my nine steps to buying a home.
Should you have any questions about any of this information or if you're prepared to get started, you can contact me here or e-mail me at .
Step 1 – Get ready to buy
There are several things you'll want to take into account before you start looking for a home.
When you begin your search, you'll want to make a checklist of features you want, get a feel for what neighborhoods you want to live in, and begin planning around your budget.
A good guideline to go by is that your mortgage payment should be 1/3 of your monthly income.
Step 2 – Talk to a real estate agent in Grand Prairie
This is where I can help.
We can plan 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 talk about neighborhoods, schools in the Grand Prairie area, the mortgage industry, and any additional economic factors that may potentially affect your purchase today or in the future.
In addition, I'll assist you in getting started on your loan.
There are some very good mortgage professionals in Grand Prairie, and I partner with a lot of them, so you can rest assured that you're in great hands.
They'll help you decide which kind of loan is best for you, as well as help you get approved.
Step 3 – Start house hunting
Following our first meeting, I'll begin looking for homes on the market that are good for you.
I'll get a sneak peek of most of the houses and remove the bad ones, and then we'll set up appointments to tour the houses when it's most convenient for you.
As we view homes, I'll call attention to good features, as well as negative ones. And I'll ask you about things you like and don't like.
It's common for buyers to revise their must-have list as we tour homes and some things become more important than others.
If such is the case, I'll go back through all the listings again and narrow it down to the house you've been wishing for.
Step 4 – Know the housing market
An agent's awareness of the Grand Prairie market is a necessary agent in your home search. And I assure you I'm conscious of all the neighborhoods and schools, and I can alert you to which districts are "hot" and warrant prompt action and the ones that are "cold" and allow for cautiousness.
As we tour homes, I'll make sure to communicate if the list 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 lots of questions, as any REALTOR will tell you they comprehend the market.
If it doesn't seem like they know everything, just call me at (972) 504-8021 or e-mail me at , and I'll be happy to answer your questions. My knowledge of the market will keep you a step above the rest throughout the entire process.
Step 5 – Find the house you've been looking for
I'm certain we'll find your dream home in the Grand Prairie area. When we do, I'll meticulously develop your real estate purchase offer. The offer will be tailored to suit your needs and the home, including a lot of contingencies, such as getting financing, finishing the inspection, and a clean title.
When turning in your offer, you'll need to present "earnest money." This is a cash deposit made to the home seller to secure an offer to purchase the property and is most often applied to the closing costs. If the offer is accepted by the seller, we should close on the home within 30 to 60 days after. This allows ample time for your mortgage financing.
Step 6 – Negotiate the deal
Unfortunately most contracts aren't closed on the beginning offer – it's pretty common to receive a counter offer. Don't let it discourage you. We'll figure out whether or not to agree to the counter offer, submit our own counter offer, or refuse the seller's offer and go on.
Market circumstances determine how aggressively we negotiate the deal.
We'll also work within your financing limits. And at the end of the day, we'll put together a deal that's best for you.
Step 7 – Obtain your loan
After the contract is finalized, you'll begin working with your lender to close the loan.
This won't be a long process at all if you're pre-approved, but you'll need to stay in close contact with your mortgage lender.
And I'll deal with all the property information your mortgage lender needs to close the loan.
Step 8 – Close the deal
Your lender will send you a Loan Estimate (LE) detailing your closing costs within three days of receiving your loan application. You'll get a Loan Estimate (LE) outlining closing costs from your lender within three days of taking your loan application.
The estimate is based on the loan amount. RESPA requirements require that it has to include all closing costs and be 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 will likely be a smooth and easygoing occasion.
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 call me at (972) 504-8021 or e-mail me at .