Buying or selling a home in Huntsville?
Buying a home is an intimidating event for most people. However, with a little up-front planning, it isn't very difficult.
I like to provide buyers with an outline 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, you can contact me here or e-mail me at . I'm happy to address questions you have regarding this information.
Step 1 – Get ready to buy a home
Prior to beginning your home search, there are plenty of things you'll want to do.
When you begin your search, you'll want to form an index of features you want to have, get a feel for what school districts and neighborhoods you'd like to live in, and start planning your budget.
Keeping your mortgage payment around 1/3 of your monthly income is a good rule to follow.
Step 2 – Contact a real estate agent in Huntsville
This is where I can help.
I'd be happy to schedule a time to meet with you and talk about why you want to buy a home 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 could potentially affect your buying decision today or in the future.
In addition, I'll help you get started on your loan.
I work with some of the finest mortgage professionals in Huntsville, so you're in great hands.
They will assist you in choosing which kind of loan is best for you and help you get qualified.
Step 3 – Start looking
After our first meeting, I'll start searching for available houses 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 when it's most convenient for you.
As we tour houses, I'll show you the positive features and bad ones. I'll also ask you about things you like and dislike.
Most often, buyers update their list of must-haves as we view houses and some features become more crucial than others.
If that's the situation, I'll search the listings once more and narrow it down to the house you've been waiting for.
Step 4 – Know the market
Your agent's awareness of the Huntsville home market is a fundamental factor in your home search. And I assure you I'm informed of all the neighborhoods and school districts, and I will let you know what neighborhoods are "hot" and warrant prompt action and the ones that are "cool" and allow for thoughtful examination.
When we view homes, I'll make sure to communicate when the seller's asking price has room for bargaining and when I believe the house is "priced to sell."
When working with an agent, be mindful and be sure to ask plenty of questions, as every REALTOR will claim to truly know the market.
If it doesn't seem like they know everything, call me at 256-417-3146 or e-mail me at , and I'd be 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 home you've been waiting for
We'll find the home of your dreams in the Huntsville area, and when that happens, I'll meticulously create your home purchase offer. The offer will be tailored keeping your needs in mind and the home, including a lot of contingencies, such as acquiring financing, carrying out the home inspection, and a clear title.
Upon presenting your offer, you'll want to submit "earnest money." This is a cash deposit given to the seller to secure the offer to buy the property, and it's most often put towards the closing costs. If the seller accepts your offer, we should close on the home within 30 to 60 days afterward. This allows plenty of time for your mortgage financing.
Step 6 – Negotiate the deal
Unfortunately most deals aren't closed on the initial offer. It's very common to receive a counter offer. But don't let it intimidate you. We'll discuss whether or not to accept the counter offer, propose our own counter offer, or refuse the seller's offer and move on.
Market circumstances determine how aggressively we negotiate the deal.
We'll also work within your financing constraints. And when it's all said and done, we'll formulate a contract that is best for you.
Step 7 – Get your loan
Upon completing the deal, you'll begin working with your lender to close the loan.
If you're already pre-approved, this won'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 mortgage lender needs to close the loan.
Step 8 – Close the deal
Your mortgage lender will provide you with a Loan Estimate (LE) detailing your closing costs within three days of accepting your application. You'll get a Loan Estimate (LE) detailing closing costs from your mortgage lender within three days of taking your loan application.
The estimate rests on the loan amount. RESPA requirements require that it has to include all closing costs and be within a close range of accuracy, and I'll examine the estimate and let you know if it all looks adequate.
Then it's time to close on your home. This will most often occur at a title company or escrow office and will probably be a smooth and relaxed event.
Step 9 – Move in
Congratulations! Now you can move into your new house. Enjoy it. And if you need anything, simply call me at 256-417-3146 or e-mail me at .