Are you contemplating buying your home in Huntsville?
With some up-front planning, buying a home isn't too complicated, but the event is intimidating for a lot of people.
I like to supply buyers with an outline of the entire deal so they understand exactly what to expect.
Here are my nine steps to purchasing a home.
If you have any questions about any of this information or if you're ready to get started, just contact me here or e-mail me at .
Step 1 – Get ready to buy a home
There are several things you need to contemplate prior to commencing your home search.
When you start your search, you'll want to create an outline of features you need to have, get a feeling for what school districts you want to live in, and begin working on your budget.
Ensuring your mortgage payment is around 30 percent of your net monthly income is a good rule of thumb to follow.
Step 2 – Speak with a real estate agent
This is where Rosenblum Realty, Inc can help.
We can schedule a time to meet so we can talk about your real estate needs and get an idea of your plans for the future.
We'll talk about everything from neighborhoods, schools in the Huntsville area, the mortgage industry, to any other economic factors that may affect your purchase today or in the future.
I can also help you facilitate the loan process.
Rosenblum Realty, Inc works with some of Huntsville's best mortgage professionals, so you're in great hands.
They will assist you in figuring out which type of loan is best for you and help you get approved.
Step 3 – Begin looking for a house
Following our initial meeting, I'll begin finding houses on the market that best suit you.
I'll research most of the houses and reject the duds, and then we'll book appointments to tour the houses when it's most convenient for you.
As we tour homes, I'll show you the positive features, as well as negative ones. I'll also ask you to tell us about things you like and don't like.
It's widely common for buyers to update their wish list as we view homes and some features become more important than others.
If that's the situation, I'll go back through the listings another time and trim it down to the house you've been dreaming about.
Step 4 – Get a grasp of the market
My awareness of the Huntsville home market is an imperative component in your house search. I am familiar with all the neighborhoods and schools, and I can alert you to some areas are "hot" and call for immediate action and the ones that are "cold" and allow for careful consideration.
When we view houses, I'll make sure to communicate when the seller's asking price has room for bargaining and also when I believe the home is "priced to sell."
When working with an agent, be mindful and make sure you ask plenty of questions. Any real estate agent in Huntsville will tell you they comprehend the market.
If things don't add up, call me at 256-417-3146 or e-mail me at , and I'd be more than happy to answer any questions you have. My market expertise will help you stay a step ahead throughout the entire process.
Step 5 – Find the house of your dreams
We'll find the house of your dreams in Huntsville, and when that happens, I'll precisely create your real estate purchase offer. The offer will be made to fit your needs and the home. We'll include some contingencies, such as acquiring financing, finishing the inspection, and a clean title.
When presenting your offer, you'll probably want to present "earnest money." This is a cash deposit made to the home seller to secure an offer to purchase the property. The amount is most often put towards the closing costs. If your offer is accepted by the seller, we should close within 30 to 60 days after. This allows ample time for your mortgage financing.
Step 6 – Negotiate the deal
Unfortunately most deals aren't closed on the initial offer, and it's widely common to receive a counter offer. But don't let this alarm you. We'll figure out whether or not to agree to the counter offer, present our own counter offer, or decline the seller's offer and move on.
How aggressively we negotiate the contract depends on market circumstances.
We'll also work within your financing budget. And at the end of the day, we'll formulate a deal that's best for you.
Step 7 – Get your loan
After the contract is finished, you'll begin working with your lender to close the loan.
If you've been pre-approved, this shouldn't take long at all. However, you'll want to keep in close contact with your mortgage lender.
And I'll manage all the property information your lender needs to close the loan.
Step 8 – Close the deal
Your lender will supply you with a Loan Estimate (LE) of 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 getting your loan application.
The estimate rests on the loan amount, and RESPA requirements require that it has to involve all closing costs and fall within a precise range of accuracy. I'll review the estimate and let you know if it all looks okay.
Then it's time to close on your home. This will most often 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 house. Enjoy it. And if you need anything or have any questions, simply call me at 256-417-3146 or e-mail me at .