Purchasing a home can be stressful for many people. However, with some planning ahead of time, it isn't too confusing.
I like to give buyers an outline of the entire deal so they know exactly what they can expect.
Here are my nine steps to buying a home.
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When you're ready to get started, you can contact me here or send e-mail to ralphschnelle@cox.net. I'm glad to answer any questions you have about this information.
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Step 1 – Get ready to purchase
Before you begin searching for a home, there are several things you should do.
You'll want to form an outline of items you want, get a feeling for what neighborhoods you'd like to live in, and begin planning around your budget.
A good rule of thumb to follow is that your mortgage payment should be less than or close to 30 percent of your net monthly income.
Step 2 – Communicate with a real estate agent in Sahuarita
That's where I can help.
I'd be more than happy to plan a time to get together with you and communicate with you about why you want to buy a home and get an idea of your future plans.
We'll discuss the mortgage industry, other economic factors that could affect your purchase today or in the future, as well as neighborhoods and school districts in the Sahuarita area.
In addition, I'll help you start the loan process.
There are some great mortgage professionals in Sahuarita, and I work with a lot of them, so you're in great hands.
They will assist you in choosing which type of loan is best for you and help you get approved.
Step 3 – Begin looking for a home
After our first meeting, I'll start looking for available houses on the market that are good for you.
I'll get a sneak peek of most of the houses and exclude the bad ones, and then we'll book appointments to tour the homes at a time that's convenient for you.
As we tour the houses, I'll point out good features, as well as negative ones. I'll also ask you to tell us about things you like and don't like.
For the most part, buyers revise their wish list as we tour houses and some items become far more important than others.
If that's the case, I'll look through all the listings once more and trim it down to the home you've been wishing for.
Step 4 – Get a grasp of the market
My knowledge of the Sahuarita home market is a fundamental benefit in your search. I am mindful of all the school districts and neighborhoods, and I will let you know some neighborhoods are "hot" and call for prompt action and others that are "cold" and allow for thoughtful consideration.
When we tour homes, I'll let you know when the asking price has room for negotiation and also when I think the house is "priced to sell."
Be mindful and make sure you ask your agent plenty of questions, as any REALTOR® will convince you they understand the market.
If things don't add up, contact me at 520-940-0614 or e-mail me at ralphschnelle@cox.net, and I'd be happy to answer any questions you might have. My market expertise will help you stay a step ahead through the entire deal.
Step 5 – Find the home you've been waiting for
I'm certain we'll find your dream house in the Sahuarita area. When we do, I'll thoroughly create your purchase offer. The offer will be tailored keeping your needs in mind, including a lot of contingencies, such as acquiring financing, completing the home inspection, and a clean title.
Upon turning in your offer, you'll likely need to present "earnest money." This is a cash deposit made to the seller to secure the offer to purchase the property and is typically put towards the closing costs. If your offer is accepted by the seller, we should close about 30 to 60 days afterward. This allows plenty of time for your mortgage financing.
Step 6 – Negotiate the deal
A lot of contracts aren't closed on the first offer – it's really common to receive a counter offer. But don't let this alarm you. We'll talk about whether or not to agree to the counter offer, propose our own counter offer, or reject 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 limits. And when it's all said and done, we'll assemble a contract that works well for you.
Step 7 – Secure a loan
Upon completion of the deal, you'll start working with your mortgage lender to close the loan.
If you're pre-approved, this won't take very long at all, but you'll need to stay in close contact with your mortgage lender.
And I'll manage all the property information your mortgage lender needs to close the loan.
Step 8 – Close the deal
Your lender will send you a Good Faith Estimate (GFE) outlining closing costs within three days of accepting your loan application. You'll get a Good Faith Estimate (GFE) detailing your closing costs from your mortgage lender within three days of receiving your application.
This estimate depends on the loan amount. RESPA requirements require that it has to involve all closing costs and be within a close range of accuracy, and I'll go over the estimate and let you know if everything looks good.
Then it's time to close on your home. This will likely happen at a title company or escrow office and will most often be a smooth and relaxing affair.
Step 9 – Move in
Success! It's time to move into your new home. Enjoy it. And if you have any questions, make sure you contact me at 520-940-0614 or send me an e-mail.
