Purchasing your new home in Grand Prairie

Buying a home is intimidating for a lot of people, but with a bit of planning ahead of time, it's not too complex. I like to supply buyers with an overview of the whole deal so they'll know exactly what to expect. Here are my nine steps to buying a home. If you have any questions about 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 purchase
There are a lot of things you'll want to contemplate before beginning your home search. When you begin your search, you'll want to assemble an index of features you need, get a feel for what neighborhoods you'd like to live in, and begin planning around your budget. A good principle to follow is that your mortgage payment should be no more than 30 percent of your net monthly income.

Step 2 – Communicate with a real estate agent in Grand Prairie
This is where I can help. I'd love to book a time to get together with you and speak with you about why you want to buy a home and get an idea of your future plans. We'll discuss everything from neighborhoods, school districts in the Grand Prairie area, the mortgage and housing industries, to any other economic factors that may potentially affect your purchase today or in the future.

In addition, I'll help you start the loan process. I partner with some of Grand Prairie's finest mortgage professionals, so you'll be in great hands. They can assist you in figuring out which type of loan is best for you and help you get qualified.

Step 3 – Start looking for a home
Following our first meeting, I'll begin searching for available homes on the market that are a good fit for you. I'll get a sneak peek of most of the homes and exclude the duds, and then we'll book appointments to tour the homes at a time that's convenient for you.

When we view homes, I'll call attention to positive features, as well as negative ones. And I'll ask you to talk about things you like and dislike. Generally, buyers amend their wish list as we view houses and some items become far more necessary than others. If that happens, I'll search all the listings again and trim it down to the house of your dreams.

Step 4 – Comprehend the market
An agent's knowledge of the Grand Prairie housing market is a fundamental agent in your home search. And I assure you I'm informed of all the neighborhoods and schools, and I can let you know certain areas are "hot" and demand prompt action and the ones that are "cool" and allow for cautiousness.

When we view houses, I'll be sure to tell you when the list price has room for negotiation and also when I trust the home is "priced to sell." When working with an agent, be careful and be sure to ask plenty of questions. Any real estate agent will tell you they truly understand the housing market. If things don't add up, contact me at (972) 504-8021 or e-mail me at , and I'll be more than happy to answer your questions. My market knowledge will keep you a step ahead through the entire deal.

Step 5 – Find the house of your dreams
We'll find your dream house in the Grand Prairie area, and when we do, I'll precisely develop your home purchase offer. The offer will be tailored keeping your needs in mind and the home, including many contingencies, such as obtaining financing, finishing the home inspection, and a clean title.

Upon presenting your offer, you'll likely want to present "earnest money." This is a cash deposit submitted to the home seller to secure an offer to buy the property and is typically applied to the cost of closing. If your offer is accepted by the seller, we should close on the property within 30 to 60 days afterward. This allows necessary time for your mortgage financing.

Step 6 – Negotiate the deal
Unfortunately most contracts aren't closed 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 accept the counter offer, present our own counter offer, or reject the seller's offer and go on.

Market circumstances determine how aggressively we negotiate the contract. In addition, we'll work within your financing budget. And when it's all said and done, we'll formulate a deal that works well for you.

Step 7 – Secure financing
Once the contract is signed, you'll start working with your lender to close the loan. If you're already pre-approved, this won't be a long process at all, but you should to keep in close contact with your lender. And I'll care for all the property information your lender needs 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 taking your application. This estimate is based on the loan amount. RESPA requirements order that it has to contain all closing costs and fall within a close range of accuracy, and I'll review the estimate and let you know if everything looks good.

Then it's time to close on your house. This will likely occur at a title company or escrow office and will likely be a smooth and peaceful affair.

Step 9 – Move in
Congratulations! Now you can move into your new house. Enjoy it. And if you need anything, simply call me at (972) 504-8021 or e-mail me at .