Looking to buy a new home in Fall River? E Z Home Search Real Estate Inc. can help.
Purchasing a home is stressful for a lot of people. However, with some planning ahead of time, it isn't too complicated.
So they know exactly what to expect, I like to provide buyers with a road map of the whole deal.
These are my nine steps to purchasing a home.
Should you have any questions regarding any of this information or if you're prepared to get started, just contact me here or e-mail me at .
Step 1 – Prepare to purchase
There are plenty of things you'll want to contemplate prior to starting your home search.
You'll most likely want to put together a list of features you need to have, plan for what neighborhoods and school districts you'd like to live in, and start working on your budget.
Keeping your mortgage payment less than or close to 1/3 of your net monthly income is a good principle to adhere to.
Step 2 – Get in touch with a real estate agent
This is where E Z Home Search Real Estate Inc. can help.
We can schedule a time to get together so we can talk about why you want to buy a home and get an idea of your plans for the future.
We'll discuss neighborhoods, schools in the Fall River area, the mortgage and housing industries, and any other economic factors that could potentially affect your buying decision today or in the future.
I can also assist you in getting started on your loan.
E Z Home Search Real Estate Inc. works with some of Fall River's best mortgage professionals, so you're in great hands.
They will assist you in deciding which kind of loan is best for you and help you get qualified.
Step 3 – Start looking for a home
Following our first meeting, I'll start finding available homes on the market that are great for you.
I'll preview most of the houses and reject the bad ones, and then we'll book appointments to tour the homes whenever it's convenient for you.
When we view the homes, I'll call attention to good features and bad ones. I'll also ask you to point out what things you like and don't like.
It's pretty common for buyers to update their must-have list as we view homes and some things become far more substantial than others.
If that happens, I'll search the listings again and narrow it down to the home you've been waiting for.
Step 4 – Get a grasp of the market
My knowledge of the Fall River home market is an imperative agent in your house search. I am acquainted with all the neighborhoods and schools, and I can communicate which districts are "hot" and demand prompt action and others that are "cool" and allow for more analysis.
As we tour homes, I'll make sure to communicate when the seller's list price has room for bargaining and when I think the home is "priced to sell."
Every REALTOR in Fall River will convince you they know the market, but take notice, and make sure you ask your agent lots of questions.
If it seems like they don't know everything, call me at (508) 646-4777 or e-mail me at , and I'll be happy to answer your questions. My understanding of the market will help you stay a step ahead through the entire process.
Step 5 – Find the house you've been looking for
I know we'll find your dream home in the Fall River area. When we do, I'll meticulously create your real estate purchase offer. The offer will be tailored exactly to your needs and the home, including a lot of contingencies. A few examples are obtaining financing, completing the home inspection, and a clear title.
When submitting your purchase offer, you'll need to present "earnest money." This is a cash deposit submitted to a seller to secure an offer to purchase the property, and it's usually put towards the closing costs. If your offer is accepted by the seller, we should close about 30 to 60 days afterward. This allows necessary time for your mortgage financing.
Step 6 – Negotiate
Most contracts aren't closed on the beginning offer. It's pretty common to receive a counter offer. Don't let it intimidate you. We'll talk about whether or not to agree to the counter offer, present our own counter offer, or decline the seller's offer and move on.
Market circumstances determine how aggressively we negotiate the deal.
We'll also work within your financing limits. And when it's all said and done, we'll put together a deal that is best for you.
Step 7 – Obtain your loan
After we sign the final deal, you'll start working with your lender to close the loan.
If you're already pre-qualified, this won't take long at all. But you need to keep in close contact with your lender.
And I'll manage all the property information your lender will need to close the loan.
Step 8 – Close the deal
Your mortgage lender will supply you with a Loan Estimate (LE) detailing your closing costs within three days of receiving your loan application. You'll get a Loan Estimate (LE) of closing costs from your mortgage lender within three days of taking your application.
This estimate is based on the loan amount. RESPA requirements order that it has to involve all closing costs and be within a strict range of accuracy, and I'll study the estimate and let you know if it all looks adequate.
Then we'll close on your house. This will likely occur at a title company or escrow office and will most likely be a smooth and stress-free occurrence.
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 call me at (508) 646-4777 or e-mail me at .