Looking to buy your home in Huntsville? Rosenblum Realty, Inc can help.
Purchasing a home intimidates many people, but it's not that complex with a little planning ahead of time.
I like to supply buyers with an overview of the whole deal so they'll know exactly what to 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 glad to address questions you have about this information.
Step 1 – Prepare to purchase
There are several things you need to contemplate before commencing your home search.
When you begin your search, you'll probably want to make a checklist of must-have features, get a feeling for what school districts and neighborhoods you'd like to live in, and begin planning around your budget.
A good rule of thumb to go by is that your mortgage payment should be a third of your monthly income.
Step 2 – Contact a real estate agent in Huntsville
That's where I come in.
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 future plans.
We'll talk about the mortgage and housing industries, other economic factors that could potentially affect your buying decision today or in the future, as well as neighborhoods and school districts in the Huntsville area.
In addition, I'll help you get started on your loan.
There are some very good mortgage professionals in Huntsville, and I work with a lot of them, so you can rest assured that you're in great hands.
They can help you choose which kind of loan is best for you, as well as help you get qualified.
Step 3 – Begin your home search
After we meet, I'll start looking for homes on the market that are good for you.
I'll research most of the homes and reject the duds, and then we'll schedule appointments to view the houses at a time that's convenient for you.
As we view the houses, I'll show you the good features and bad ones. I'll also ask you about things you like and don't like.
It's common for buyers to amend their must-have list as we tour homes and some features become far more necessary than others.
If that happens, I'll go back through all the listings again and narrow it down to the house you've been dreaming about.
Step 4 – Comprehend the housing market
An agent's knowledge of the Huntsville housing market is a necessary factor in your home search. And I can assure you I'm familiar with all the school districts and neighborhoods, and I'll alert you to what areas are "hot" and warrant prompt action and the ones that are "cold" and allow for careful analysis.
As we tour houses, I'll let you know if the seller's list price has room for bargaining or if I believe the house is "priced to sell."
When working with an agent, be careful and be sure to ask lots of questions, as any REALTOR in Huntsville will tell you they understand the market.
If things don't add up, contact me at 256-417-3146 or e-mail me at , and I'll be glad to answer any questions you have. My knowledge of the market will keep you a step above the rest throughout the entire deal.
Step 5 – Find the house you've been looking for
I'm confident we'll find your dream home in Huntsville. When we do, I'll thoroughly create your 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 home inspection, and a clean title.
When presenting your offer, you'll probably want to present "earnest money." This is a cash deposit submitted to the seller to secure the offer to purchase the property. The amount is often applied to the closing costs. If the seller accepts the offer, we should close on the home about 30 to 60 days afterward. This allows sufficient time for your mortgage financing.
Step 6 – Negotiate
Most contracts don't close on the initial offer – it's really common to receive a counter offer. But don't let it intimidate you. We'll talk about whether or not to accept the counter offer, submit our own counter offer, or decline the seller's offer and move on.
How aggressively we negotiate the deal depends on the state of the market.
We'll also work within your budget. And when it's all said and done, we'll create a deal that's best for you.
Step 7 – Obtain your loan
After the contract is complete, you'll start working with your lender to close the loan.
This won't take long at all if you're already pre-approved, but you need to stay in close contact with your mortgage lender.
And I'll care for all the property information your mortgage lender will need to close the loan.
Step 8 – Close the deal
You'll get a Loan Estimate (LE) detailing closing costs from your lender within three days of receiving your application.
The estimate rests on the loan amount, and RESPA requirements dictate that it has to include all closing costs and fall within a close range of accuracy. I'll study the estimate and let you know if it all looks all right.
Then we'll close on your home. This will likely take place at a title company or escrow office and will most likely be a smooth and relaxed occasion.
Step 9 – Move in
Congratulations! Now you can 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 .