Buying or selling a home in Fall River? E Z Home Search Real Estate Inc. can help.
Purchasing a home is an intimidating event for many people. However, with some planning ahead of time, it's not all that confusing.
I like to give buyers an outline of the whole deal so they know exactly what they can expect.
These 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 happy to address questions you have about this information.
Step 1 – Prepare to purchase
There are plenty of things you'll want to contemplate prior to commencing your home search.
You'll most likely want to assemble an index of items you need to have, get a feel for what neighborhoods you'd like to live in, and start planning around your budget.
Ensuring your mortgage payment is less than or around 1/3 of your monthly income is a good rule of thumb to follow.
Step 2 – Speak with a real estate agent in Fall River
That's where I can help.
I'd love to arrange a time to meet with you and communicate with you about your real estate needs and get an idea of your plans for the future.
We'll talk about the mortgage industry, other economic factors that might affect your purchase today or in the future, as well as neighborhoods and schools in the Fall River area.
I can also help you start the loan process.
E Z Home Search Real Estate Inc. partners with some of Fall River's best mortgage professionals, so you can rest assured that you're in great hands.
They'll assist you in deciding which type of loan is best for you and help you get qualified.
Step 3 – Begin looking for a house
Following our initial meeting, I'll start looking for houses on the market that suit your needs.
I'll get a sneak peek of many of the homes and ignore the bad ones, and then we'll book appointments to tour the houses when it's most convenient for you.
When we view homes, I'll call attention to good features and negative ones. I'll also ask you to tell us about things you like and dislike.
It's common for buyers to amend their list of must-haves as we view houses and some items become more crucial than others.
If that's the case, I'll look through the listings once again and trim it down to the home you've been wishing for.
Step 4 – Comprehend the market
My knowledge of the Fall River market is a necessary component in your house search. I'm conscious of all the neighborhoods and schools, and I can communicate some districts are "hot" and call for prompt action and others that are "cool" and allow for thoughtful examination.
As we tour houses, I'll make sure to communicate if the asking price has room for negotiation or if I believe the home is "priced to sell."
Every REALTOR will tell you they understand the housing market, but trust your instincts, and be sure to ask plenty of questions.
If it seems like they don't know everything, call me at (508) 646-4777 or e-mail me at , and I'd be happy to answer your questions. My understanding of the market will keep you a step ahead through the entire deal.
Step 5 – Find the house you've been looking for
We'll find your dream home in the Fall River area, and when we do, I'll precisely create your home purchase offer. The offer will be made to suit your needs and the home. We'll include several contingencies, such as getting financing, completing the inspection, and a clean title.
Upon sending in your purchase offer, you'll want to present "earnest money." This is a cash deposit given to the home seller to secure an offer to purchase the property. The amount is typically applied to the cost of closing. If your offer is accepted by the seller, we should close on the property about 30 to 60 days after. This allows necessary time for your mortgage financing.
Step 6 – Negotiate the deal
Unfortunately most deals aren't closed on the beginning offer. It's very common to receive a counter offer. Don't let this alarm you. We'll consider whether or not to accept the counter offer, present our own counter offer, or refuse the seller's offer and go on.
Market circumstances will play a big part in how aggressively we negotiate the contract.
In addition, we'll work within your budget. And when it's all said and done, we'll compose a contract that is best for you.
Step 7 – Secure a loan
Once we sign the final contract, you'll start working with your mortgage lender to close the loan.
This won't take very long at all if you're pre-approved, but you'll need to keep in close contact with your lender.
And I'll sort out all the property information your mortgage lender needs to close the loan.
Step 8 – Close the deal
Your mortgage lender will send you a Loan Estimate (LE) detailing your closing costs within three days of taking your application. You'll get a Loan Estimate (LE) outlining your closing costs from your mortgage lender within three days of accepting your loan application.
This estimate rests on the loan amount. RESPA requirements mandate that it has to contain all closing costs and be within a tight range of accuracy, and I'll analyze the estimate and let you know if everything looks adequate.
Then we'll close on your house. This will probably take place at a title company or escrow office and will most often be a smooth and relaxing event.
Step 9 – Move in
Congratulations! It's time to move into your new home. Enjoy it. And if you need anything, just call me at (508) 646-4777 or e-mail me at .