Contemplating buying your new home in Orlando?
Purchasing a home is intimidating for a lot of people. However, with a little up-front planning, it's not that difficult.
So you know exactly what to expect, I like to give my buyers an overview of the whole deal.
Here are my nine steps to buying a home.
When you're ready to get started, just contact me here or send me e-mail
. I'm happy to answer questions you have about this information.
Step 1 – Get ready to purchase a home
Before you start looking for a home, there are a lot of things you need to take into account.
You'll most likely want to form a list of items you want, plan for what school districts you want to live in, and start planning your budget.
Keeping your mortgage payment less than or around 1/3 of your monthly income is a good guideline to adhere to.
Step 2 – Communicate with a real estate agent
This is where I can help.
I'd be happy to set up a time to meet with you and speak with you regarding why you want to buy a home and get an idea of your plans for the future.
We'll discuss the mortgage and housing industries, other economic factors that may affect your buying decision today or in the future, as well as neighborhoods and schools in the Orlando area.
In addition, I'll help you get started on your loan.
I partner with some of Orlando's finest mortgage professionals, so you're in great hands.
They can assist you with deciding which kind of loan is best for you and help you get qualified.
Step 3 – Start looking
Following our first meeting, I'll start searching for houses on the market that best suit you.
I'll get a sneak peek of most of the homes and exclude the bad ones, and then we'll book appointments to view the houses when it's convenient for you.
As we view the homes, I'll identify positive features and negative ones. I'll even ask you what things you like and dislike.
It's common for buyers to change their list of must-haves as we tour houses and some features become more necessary than others.
If that's the situation, I'll go back through all the listings once again and narrow it down to the home of your dreams.
Step 4 – Understand the market
Your agent's awareness of the Orlando market is an essential agent in your home search. And I can assure you I'm acquainted with all the schools and neighborhoods, and I'll communicate some neighborhoods are "hot" and call for immediate action and the others that are "cool" and allow for more examination.
When we view houses, I'll make sure to communicate if the seller's list price has room for bargaining or if I believe the home is "priced to sell."
Every REALTOR® in Orlando will claim to understand the housing market, but be careful, and be sure to ask plenty of questions.
If it seems like they don't know everything, just call me at 4072978500 or e-mail me at email@example.com, and I'll be happy to answer any questions you might have. My market expertise will help you stay a step ahead through the entire process.
Step 5 – Find the house you've been waiting for
I know we'll find your dream house in Orlando, and when we do, I'll thoroughly develop your purchase offer. The offer will be tailored to suit your needs. Whenever necessary, I never forget to make contracts contingent upon items like your ability to secure financing and the results of the home inspection.
When sending in your offer, you'll likely need to present "earnest money." This is a cash deposit given to a home seller to secure an offer to purchase the property and is usually put towards the cost of closing. If the offer is accepted, we should close on the property about 30 to 60 days after. This allows necessary time for your mortgage financing.
Step 6 – Negotiate
Unfortunately most deals don't close on the initial offer, and it's really common to receive a counter offer. Don't let it discourage you. We'll figure out whether or not to take the counter offer, submit our own counter offer, or refuse the seller's offer and move on.
Market conditions will play a role in how aggressively we negotiate the deal.
In addition, we'll work within your budget. And when it's all said and done, we'll create a deal that is best for you.
Step 7 – Obtain a loan
After we sign the final deal, you'll begin working with your mortgage lender to close the loan.
This shouldn't take long at all if you're pre-qualified, but you'll need to keep in close contact with your mortgage lender.
And I'll take care of all the property information your mortgage lender needs to close the loan.>
You'll get a Good Faith Estimate (GFE) of your closing costs from your mortgage lender within three days of taking your loan application.
The estimate is formed from the loan amount. RESPA requirements order that it has to involve all closing costs and be within a strict range of accuracy, and I'll examine the estimate and let you know if everything looks good.
Then we'll close on your house. This will most often take place at a title company or escrow office and should be a smooth and relaxed event.
Step 9 – Move in
Congratulations! It's time to move into your new house. Enjoy it. And if you need anything or have any questions, just contact me at 4072978500 or send me an e-mail.