Purchasing a home can be stressful for most people. However, with a bit of up-front planning, it's not very complicated.
I like to furnish buyers with an outline of the entire deal so they'll understand exactly what to expect.
Here are my nine steps to buying a home.
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If you have questions regarding any of this information or if you're ready to get started, you can contact me here or e-mail me at info@kellyboyle.net.
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Step 1 – Prepare to purchase
Before you start your home search, there are many things you'll want to consider.
You'll probably want to put together an outline of features you need to have, get an idea of what neighborhoods you'd like to live in, and start working on your budget.
Ensuring your mortgage payment is no more than 30 percent of your net monthly income is a good guideline to go by.
Step 2 – Communicate with a real estate agent
That's where I come in.
I'd love to plan a time to get together with you and communicate with you about your real estate needs and get an idea of your future plans.
We'll discuss the mortgage and housing industries, other economic factors that might affect your purchase today or in the future, as well as neighborhoods and schools in the Wenatchee area.
In addition, I'll assist you with getting started on your loan.
There are some very good mortgage professionals in Wenatchee, and I partner with a lot of them, so you can rest assured that you're in great hands.
They can help you figure out which kind of loan is best for you, as well as help you get qualified.
Step 3 – Begin your search
After our first meeting, I'll begin looking for available homes on the market that are great for you.
I'll research many of the homes and remove the duds, and then we'll schedule appointments to tour the homes when it's most convenient for you.
When we view the houses, I'll identify positive features, as well as bad ones. I'll also ask you to point out what things you like and dislike.
It's widely common for buyers to revise their list of must-haves as we view homes and some things become more essential than others.
If that's the situation, I'll search the listings again and trim it down to the home you've been dreaming about.
Step 4 – Know the market
My awareness of the Wenatchee market is a fundamental advantage in your house search. I am acquainted with all the schools and neighborhoods, and I'll alert you to what areas are "hot" and warrant prompt action and others that are "cold" and allow for thoughtful analysis.
As we tour houses, I'll let you know when the list price has room for bargaining and also when I believe the home is "priced to sell."
Every REALTOR® in Wenatchee will convince you they understand the home market, but trust your instincts, and make sure you ask your agent plenty of questions.
If it doesn't seem like they know everything, call me at (509) 860-2040 or e-mail me at info@kellyboyle.net, and I'll be glad to answer any questions you might have. My market knowledge will help you stay a step ahead throughout the entire deal.
Step 5 – Find the house you've been waiting for
I'm confident we'll find the house of your dreams in the Wenatchee area. When we do, I'll precisely create your real estate purchase offer. The offer will be tailored with your needs in mind, including a lot of contingencies. A few examples are getting financing, finishing the home inspection, and a clear title.
When we submit your offer, you'll likely need to submit "earnest money." This is a cash deposit submitted to a seller to secure the offer to purchase the property. The amount is most often put towards the cost of closing. If your offer is accepted by the seller, we should close on the property about 30 to 60 days after. This allows enough time for your mortgage financing.
Step 6 – Negotiate
A lot of contracts don't close on the beginning offer. It's pretty common to receive a counter offer. Don't let it alarm you. We'll discuss whether or not to consent to the counter offer, propose our own counter offer, or decline the seller's offer and move on.
The state of the market will play a vital role in how aggressively we negotiate the contract.
In addition, we'll work within your financing limits. And when it's all said and done, we'll compose a deal that's best for you.
Step 7 – Get your loan
After the deal is finalized, you'll begin working with your mortgage lender to close the loan.
If you've been pre-approved, this won't take very long at all. But you need to stay in close contact with your mortgage lender.
And I'll manage all the property information your mortgage lender needs 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 is based on the loan amount. RESPA requirements require that it has to include all closing costs and be within a tight range of accuracy, and I'll analyze the estimate and let you know if everything looks all right.
Then we'll close on your home. This will most often happen at a title company or escrow office and will most often be a smooth and stress-free occurrence.
Step 9 – Move in
Success! Now you can move into your new house. Enjoy it. And if you have any questions, just call me at (509) 860-2040 or send me an e-mail.