Buying your new home in Grand Prairie

Buying a home is stressful for most people, but it's not too difficult with some planning ahead of time. So they'll know exactly what to expect, I will give buyers an overview of the whole deal. These are my nine steps to purchasing a home. If you have any questions regarding any of this information or if you're ready to get started, just contact me here or e-mail me at .

Step 1 – Prepare to buy a home
There are a lot of things you should take into account before beginning your home search. You'll probably want to put together an outline of items you want to have, get an idea of what school districts and neighborhoods you'd like to live in, and begin planning around your budget. Keeping your mortgage payment less than or around 30 percent of your net monthly income is a good guideline to follow.

Step 2 – Speak with a real estate agent in Grand Prairie
This is where Target Cost Realty, LLC comes in. We'll set up a time to meet so we can talk 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 and housing industries, and any additional economic factors that may potentially affect your purchase today or in the future.

I can also help you facilitate the loan process. I partner with some of the best mortgage professionals in Grand Prairie, so you can rest assured that you're in great hands. They'll help you figure out which type of loan is best for you, as well as help you get approved.

Step 3 – Start your home search
After we meet, I'll begin looking for houses on the market that are good for you. I'll preview most of the homes and ignore the duds, and then we'll schedule appointments to tour the homes whenever it's most convenient for you.

When we tour the homes, I'll point out positive features, as well as negative ones. I'll even ask you to talk about things you like and don't like. It's pretty common for buyers to update their wish list as we tour homes and some items become more important than others. If such is the case, I'll go back through the listings one more time and trim it down to the home you've been dreaming about.

Step 4 – Get a grasp of the market
My awareness of the Grand Prairie home market is a crucial element in your house search. I am familiar with all the neighborhoods and school districts, and I can communicate certain neighborhoods are "hot" and warrant immediate action and the ones that are "cold" and allow for careful examination.

When we view houses, I'll make sure to communicate when the seller's asking price has room for bargaining and also when I trust the house is "priced to sell." Be careful and be sure to ask lots of questions, as any REALTOR in Grand Prairie will tell you they truly know the home 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 may have. My knowledge of the market will keep you a step ahead throughout the entire process.

Step 5 – Find the house you've been looking for
We'll find the house of your dreams in the Grand Prairie area, and when that happens, I'll carefully create your purchase offer. The offer will be tailored exactly to your needs and the home, including a lot of contingencies, such as acquiring financing, finishing the home inspection, and a clear title.

When we turn in your offer, you'll likely need to submit "earnest money." This is a cash deposit given to a home seller to secure an offer to purchase the property and is most often put towards the cost of closing. If the seller accepts your offer, we should close on the property about 30 to 60 days afterward. This allows enough time for your mortgage financing.

Step 6 – Negotiate
A lot of deals don't close on the first offer – it's pretty common to receive a counter offer. Don't let this intimidate you. We'll consider whether or not to consent to the counter offer, submit our own counter offer, or refuse the seller's offer and go on.

How aggressively we negotiate the contract depends on the state of the market. We'll also work within your financing constraints. And when it's all said and done, we'll compose a deal that is best for you.

Step 7 – Obtain financing
Once we sign the final deal, you'll start working with your lender to close the loan. If you've been pre-approved, it shouldn't take long at all. However, you need to keep in close contact with your lender. And I'll deal with all the property information your lender will need to close the loan.

Step 8 – Close the deal
You'll get a Loan Estimate (LE) outlining your closing costs from your lender within three days of receiving your application. The estimate rests on the loan amount, and RESPA requirements require that it has to contain all closing costs and fall within a narrow range of accuracy. I'll study the estimate and let you know if it all looks okay.

Then it's time to close on your home. This will probably take place at a title company or escrow office and should be a smooth and stress-free event.

Step 9 – Move in
Congratulations! It's time to move into your new house. Enjoy it. And if you need anything or have any questions, be sure to contact me at (972) 504-8021 or e-mail me at .

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Target Cost Realty, LLC

2634 South Carrier Parkway Suite 107
Grand Prairie, Texas 75052