Looking to buy a new home in Grand Prairie? Target Cost Realty, LLC can help.
Buying a home is stressful for many people, but with a bit of up-front planning, it isn't all that difficult.
So they know exactly what they can expect, I will furnish buyers with an overview of the whole deal.
Here are my nine steps to buying a home.
When you're ready to get started, just contact me here or e-mail me at . I'm glad to answer any questions you have about this information.
Step 1 – Prepare to purchase a home
There are a lot of things you should do before you search for a home.
You'll want to put together a list of items you need to have, get a plan of what neighborhoods and school districts you want to live in, and begin planning your budget.
A good rule of thumb to follow is that your mortgage payment should be a third of your monthly income.
Step 2 – Get in touch with a real estate agent in Grand Prairie
That's where I come in.
We can set up a time to meet so we can talk about your real estate needs and get an idea of your future plans.
We'll discuss neighborhoods, school districts in the Grand Prairie area, the mortgage and housing industries, and any other economic factors that could affect your purchase today or in the future.
I can also help you facilitate the loan process.
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 assist you in figuring out which kind of loan is best for you and help you get approved.
Step 3 – Begin looking
After we meet for the first time, I'll begin searching for houses on the market that best suit you.
I'll research many of the homes and ignore the duds, and then we'll schedule appointments to tour the homes whenever it's most convenient for you.
As we view the homes, I'll call attention to positive features, as well as bad ones. I'll also ask you what things you like and dislike.
Oftentimes, buyers update their must-have list as we tour houses and some things become more essential 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 – Understand the market
An agent's knowledge of the Grand Prairie home market is a crucial component in your home search. And I assure you I'm mindful of all the neighborhoods and school districts, and I will alert you to which districts are "hot" and require immediate action and some that are "cool" and allow for careful examination.
When we view homes, I'll be sure to tell you if the seller's asking price has room for negotiation or if I believe the home is "priced to sell."
Trust your instincts and make sure you ask lots of questions, as every real estate agent in Grand Prairie will tell you they 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 glad to answer any questions you have. My knowledge of the market will help you stay a step ahead throughout the entire deal.
Step 5 – Find the home you've been waiting for
I'm positive we'll find your dream home in the Grand Prairie area. When that happens, I'll meticulously create your home purchase offer. The offer will be tailored exactly to your needs and the home, including several contingencies. A few examples are acquiring financing, completing the inspection, and a clean title.
When we present your purchase offer, most likely you'll want to present "earnest money." This is a cash deposit made to a home seller to secure the offer to buy the property, and it's usually applied to the closing costs. If your offer is accepted, we should close on the home about 30 to 60 days after. 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 extremely common to receive a counter offer. But don't let it intimidate you. We'll discuss whether or not to consent to the counter offer, submit our own counter offer, or decline the seller's offer and move on.
Market conditions will play a vital role in how aggressively we negotiate the contract.
In addition, we'll work within your financing constraints. And at the end of the day, we'll put together a deal that works well for you.
Step 7 – Obtain a loan
After we sign the final sales contract, you'll begin working with your mortgage lender to close the loan.
If you're pre-qualified, it shouldn't take long at all. However, you should to stay in close contact with your mortgage lender.
And I'll deal with all the property information your lender needs to close the loan.
Step 8 – Close the deal
Your mortgage lender will provide you with a Loan Estimate (LE) of your closing costs within three days of taking your loan application. You'll get a Loan Estimate (LE) detailing closing costs from your mortgage lender within three days of getting your application.
This estimate is based on the loan amount, and RESPA requirements order that it has to contain all closing costs and be within a close range of accuracy. I'll review the estimate and let you know if it all looks all right.
Then we'll close on your home. This will likely take place at a title company or escrow office and will most often be a smooth and relaxing occasion.
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, make sure you contact me at (972) 504-8021 or e-mail me at .