Are you contemplating purchasing a home in Huntsville?
Buying a home is intimidating for a lot of people. However, with some planning ahead of time, it isn't too complex.
So they know exactly what they can expect, I like to furnish buyers with a road map of the whole deal.
Below are my nine steps to purchasing 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 a home
Before you start your home search, there are several things you should contemplate.
You'll want to create a check list of features you want, get an idea of what neighborhoods and school districts you want to live in, and begin working on your budget.
Keeping your mortgage payment around 30 percent of your net monthly income is a good guideline to go by.
Step 2 – Talk to a real estate agent in Huntsville
This is where Rosenblum Realty, Inc can help.
We can plan 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 discuss the mortgage and housing industries, other economic factors that might affect your buying decision today or in the future, as well as neighborhoods and school districts in the Huntsville area.
I'll also help you get started on your loan.
Rosenblum Realty, Inc partners with some of the best mortgage professionals in Huntsville, so you'll be in great hands.
They'll assist you in figuring out which type of loan is best for you and help you get approved.
Step 3 – Begin house hunting
After our first meeting, I'll begin searching for available houses on the market that suit your needs.
I'll preview many of the homes and remove the duds, and then we'll book appointments to view the houses whenever it's most convenient for you.
As we view homes, I'll show you the good features and bad ones. And I'll ask you to talk about things you like and dislike.
It's widely common for buyers to update their wish list as we view homes and some things become more crucial than others.
If such is the case, I'll look through all the listings once more and narrow it down to the house of your dreams.
Step 4 – Understand the housing market
Your agent's awareness of the Huntsville market is a leading agent in your home search. And I assure you I'm familiar with all the school districts and neighborhoods, and I'll alert you to some districts are "hot" and warrant prompt action and the ones that are "cold" and allow for thoughtful consideration.
As we tour houses, I'll make sure to communicate if the list price has room for negotiation or if I believe the home is "priced to sell."
When working with an agent, trust your instincts and be sure to ask a lot of questions. Every real estate agent will convince you they understand the home market.
If it seems like they don't know everything, call me at 256-417-3146 or e-mail me at , and I'd be more than happy to answer your questions. My market expertise will keep you a step ahead through the entire deal.
Step 5 – Find the home of your dreams
We'll find the home of your dreams in the Huntsville area, and when we do, I'll thoroughly develop your real estate purchase offer. The offer will be made to suit your needs and the home. We'll include a lot of contingencies, such as obtaining financing, completing the inspection, and a clean title.
When we turn in your purchase offer, you'll want to present "earnest money." This is a cash deposit submitted to a home seller to secure the offer to buy the property and is often applied to the cost of closing. If the offer is accepted, we should close on the home within 30 to 60 days afterward. This allows necessary time for your mortgage financing.
Step 6 – Negotiate the deal
A lot of deals aren't closed on the first offer. It's pretty common to receive a counter offer. Don't let this discourage you. We'll figure out whether or not to agree to the counter offer, submit our own counter offer, or decline the seller's offer and move on.
How aggressively we negotiate the contract depends on market circumstances.
In addition, we'll work within your budget. And at the end of the day, we'll create a contract that works well for you.
Step 7 – Obtain financing
Once the deal is complete, you'll begin working with your mortgage lender to close the loan.
If you've been pre-approved, it shouldn't take very long at all, but you'll need to keep in close contact with your lender.
And I'll care for all the property information your lender needs to close the loan.
Step 8 – Close the deal
You'll get a Loan Estimate (LE) of closing costs from your lender within three days of getting your loan application.
This estimate is based on the loan amount. RESPA requirements mandate that it has to involve all closing costs and fall within a tight range of accuracy, and I'll go over the estimate and let you know if it all looks permissible.
Then we'll close on your home. This will probably occur at a title company or escrow office and should 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 256-417-3146 or e-mail me at .