With a little up-front planning, purchasing a home isn't very complex, but the event is stressful for many people. So you understand exactly what to expect, I like to provide my buyers with an outline of the whole deal. Below 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 CGHarbin1@aol.com. I'm happy to answer any questions you have regarding this information. |
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Step 1 – Prepare to purchase a home
Before you start your home search, there are several things you'll want to do. When you start your search, you'll want to assemble an index of features you need, get a feeling for what neighborhoods you want to live in, and begin planning around your budget. Keeping your mortgage payment around 1/3 of your monthly income is a good guideline to follow.
Step 2 – Talk to a real estate agent
This is where I can help. We'll schedule a time to get together so we can talk about why you want to buy a home and get an idea of your upcoming plans. We'll discuss neighborhoods, school districts in the Tallahassee area, the mortgage and housing industries, and any other economic factors that may affect your purchase today or in the future.
I can also help you begin the loan process. Cassandra G. Harbin, CRS, GRI, SFR, Realtor® works with some of the finest mortgage professionals in Tallahassee, so you're in great hands. They'll help you decide which type of loan is best for you, as well as help you get approved.
Step 3 – Start house-hunting
After our initial meeting, I'll begin searching for houses on the market that are great for you. I'll research many of the houses and exclude the bad ones, and then we'll book appointments to tour the houses when it's most convenient for you.
When we view the homes, I'll call attention to good features and bad ones. And I'll ask you to tell us about things you like and don't like. It's widely common for buyers to update their list of must-haves as we tour homes and some items 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 Tallahassee housing market is an essential factor in your home search. And I can assure you I'm mindful of all the schools and neighborhoods, and I can alert you to certain neighborhoods are "hot" and require prompt action and some that are "cool" and allow for careful analysis.
As we tour homes, I'll let you know if the seller's asking price has room for negotiation or if I believe the home is "priced to sell." Be on guard and make sure you ask plenty of questions, as any REALTOR® will tell you they understand the home market. If it appears they don't know everything, call me at (850) 545-6661 or e-mail me at CGHarbin1@aol.com, and I'll be happy to answer your questions. My market expertise will help you stay a step ahead throughout the entire process.
Step 5 – Find the house of your dreams
I'm sure we'll find your dream home in the Tallahassee area, and when we do, I'll meticulously develop your purchase offer. The offer will be made exactly to your needs. Whenever necessary, I never forget to make contracts contingent upon items like obtaining financing and the results of the home inspection.
When we turn in your purchase offer, you'll need to submit "earnest money." This is a cash deposit made to a seller to secure an offer to buy the property and is often applied to the closing costs. If your offer is accepted, we should close about 30 to 60 days after. This allows necessary time for your mortgage financing.
Step 6 – Negotiate the deal
Most contracts aren't closed on the beginning offer. It's pretty common to receive a counter offer. Don't let this intimidate you. We'll figure out whether or not to accept the counter offer, present our own counter offer, or reject the seller's offer and move on.
Market conditions determine how aggressively we negotiate the contract. In addition, we'll work within your financing budget. And when it's all said and done, we'll assemble a contract that's best for you.
Step 7 – Get a loan
Once the deal is finalized, you'll start working with your lender to close the loan. If you're already pre-approved, this shouldn't be a long process at all, but you'll want to stay in close contact with your lender. And I'll look after all the property information your lender needs to close the loan.
Step 8 – Close the deal
You'll get a Good Faith Estimate (GFE) detailing your closing costs from your lender within three days of accepting your loan application. The estimate is based on the loan amount. RESPA requirements dictate that it has to include all closing costs and fall within a precise range of accuracy, and I'll analyze the estimate and let you know if everything 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 peaceful affair.
Step 9 – Move in
Congratulations! Now you can move into your new home. Enjoy it. And if you have any questions, simply call or text me at (850) 545-6661 or send me an e-mail.
