For many people, purchasing a home is a stressful event. However, with some planning ahead of time, it's not very complicated.
I like to provide buyers with an outline of the whole deal so they know exactly what they can expect.
Here are my nine steps to buying a home.
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When you're ready to get started, just contact me here or send e-mail to gcorey@viprealty.com. I'm happy to answer questions you have regarding this information.
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Step 1 – Get ready to buy a home
Before you start your home search, there are a lot of things you need to take into account.
You'll probably want to put together a checklist of must-have features, get a feel for what school districts you want to live in, and begin planning around your budget.
Keeping your mortgage payment less than or close to 30 percent of your monthly income is a good guideline to follow.
Step 2 – Get in touch with a real estate agent in Fort Myers
This is where VIP Realty Group Inc. comes in.
We can schedule a time to meet so we can talk about your real estate needs and get an idea of your future plans.
We'll talk about the mortgage and housing industries, other economic factors that may potentially affect your purchase today or in the future, as well as neighborhoods and school districts in the Fort Myers area.
I can also assist you in getting started on your loan.
There are some very good mortgage professionals in Fort Myers, and I partner with a lot of them, so you'll be in great hands.
They will help you determine which type of loan is best for you, as well as help you get qualified.
Step 3 – Begin looking for a house
After we meet, I'll begin finding homes on the market that best suit you.
I'll get a sneak peek of most of the homes and throw out the bad ones, and then we'll set up appointments to view the homes when it's convenient for you.
When we tour the houses, I'll identify positive features and bad ones. And I'll ask you about things you like and don't like.
It's widely common for buyers to amend their list of must-haves as we tour homes and some items become far more essential than others.
If that's the case, I'll look through all the listings again and trim it down to the home of your dreams.
Step 4 – Know the housing market
My knowledge of the Fort Myers housing market is an indispensable asset in your home search. I'm informed of all the neighborhoods and schools, and I will alert you to certain neighborhoods are "hot" and warrant immediate action and others that are "cool" and allow for careful examination.
As we view houses, I'll be sure to tell you if the seller's asking price has room for bargaining or if I believe the house is "priced to sell."
When working with an agent, be on guard and make sure you ask plenty of questions, as every REALTOR® will tell you they know the market.
If things don't add up, contact me at 239-489-1100 ext 220 or e-mail me at gcorey@viprealty.com, and I'll be more than happy to answer your questions. My knowledge of the market will keep you a step ahead throughout the entire deal.
Step 5 – Find the home of your dreams
I'm certain we'll find the house of your dreams in Fort Myers. When that happens, I'll carefully develop your home purchase offer. The offer will be tailored with your needs in mind, including many contingencies, such as acquiring financing, carrying out the home inspection, and a clear title.
When we present your purchase offer, most likely you'll want to present "earnest money." This is a cash deposit given to the home seller to secure an offer to buy the property, and it's typically put towards the closing costs. If the seller accepts the offer, we should close on the property about 30 to 60 days after. This allows ample time for your mortgage financing.
Step 6 – Negotiate the deal
A lot of contracts aren't closed on the beginning offer. It's pretty common to receive a counter offer. Don't let this alarm you. We'll talk over whether or not to accept the counter offer, propose our own counter offer, or reject the seller's offer and go on.
Market conditions will play a big part in how aggressively we negotiate the contract.
In addition, we'll work within your budget. And when it's all said and done, we'll compose a deal that is best for you.
Step 7 – Secure your loan
Upon signing the contract, you'll start working with your mortgage lender to close the loan.
If you're pre-qualified, this won't be a long process at all. However, you'll need to keep in close contact with your lender.
And I'll handle all the property information your mortgage lender will need to close the loan.
Step 8 – Close the deal
You'll get a Good Faith Estimate (GFE) outlining your closing costs from your lender within three days of taking your loan application.
This estimate rests on the loan amount, and RESPA requirements order that it has to involve all closing costs and fall within a tight range of accuracy. I'll study the estimate and let you know if it all looks adequate.
Then we'll close on your house. This should happen at a title company or escrow office and will most likely be a smooth and easygoing occurrence.
Step 9 – Move in
Congratulations! Now you can move into your new house. Enjoy it. And if you need anything or have any questions, simply contact me at 239-489-1100 ext 220 or send me an e-mail.
