Let Premier Realty Group assist you with buying your home in San AntonioWith some up-front planning, buying a home isn't very hard, but the event is intimidating for a lot of people. So you know exactly what to expect, I like to provide my buyers with an outline of the entire deal. Here are my nine steps to buying a home.
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Step 1 – Get ready to purchase a home
Before you start searching for a home, there are many things you'll want to take into account. When you begin your search, you'll want to put together a checklist of items you want to have, get a feel for what school districts and neighborhoods you'd like to live in, and start planning your budget. A good principle to go by is that your mortgage payment should be around 30 percent of your monthly income.
Step 2 – Get in touch with a real estate agent
This is where Premier Realty Group can help. I'd be more than happy to book 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 discuss the mortgage industry, other economic factors that could potentially affect your purchase today or in the future, as well as neighborhoods and schools in the San Antonio area.
In addition, I'll assist you in getting started on your loan. Premier Realty Group partners with some of San Antonio's finest mortgage professionals, so you're in great hands. They will help you decide which type of loan is best for you, as well as help you get approved.
Step 3 – Begin your search
After our first meeting, I'll start finding available houses on the market that are good for you. I'll preview many of the houses and reject the duds, and then we'll schedule appointments to tour the houses whenever it's most convenient for you.
As we tour the homes, I'll point out good features, as well as bad ones. I'll even ask you to point out what things you like and dislike. It's common for buyers to update their must-have list as we tour houses and some items become far more crucial than others. If that happens, I'll look through all the listings once again and trim it down to the home you've been dreaming about.
Step 4 – Know the housing market
Your agent's awareness of the San Antonio housing market is a leading factor in your home search. And I assure you I'm conscious of all the neighborhoods and school districts, and I can let you know which neighborhoods are "hot" and call for prompt action and the rest that are "cool" and allow for thoughtful analysis.
When we tour homes, I'll let you know when the asking price has room for negotiation and when I think the home is "priced to sell."
When working with an agent, be careful and make sure you ask a lot of questions. Any REALTOR® in San Antonio will tell you they know the market.
If things don't add up, contact me at 210-422-5699 or e-mail me at email@example.com, and I'd be more than happy to answer any questions you may have. My understanding of the market will help you stay a step ahead throughout the entire process.
Step 5 – Find your dream house
I'm confident we'll find the house of your dreams in San Antonio, and when that happens, I'll thoroughly develop your purchase offer. The offer will be tailored exactly to your needs. Whenever necessary, I never forget to make contracts contingent upon items like acquiring financing and the results of the home inspection.
When we turn in your offer, you'll likely want to present "earnest money." This is a cash deposit made to the home seller to secure an offer to purchase the property. The amount is most often put towards the cost of closing. If the seller accepts your offer, we should close on the home about 30 to 60 days afterward. This allows plenty of time for your mortgage financing.
Step 6 – Negotiate
A lot of deals don't close on the initial offer. It's very common to receive a counter offer. Don't let it intimidate you. We'll figure out whether or not to agree to the counter offer, propose our own counter offer, or reject the seller's offer and move on.
Market conditions determine how aggressively we negotiate the deal. In addition, we'll work within your budget. And when it's all said and done, we'll assemble a contract that's best for you.
Step 7 – Obtain a loan
Once the contract is finalized, you'll start working with your lender to close the loan. This shouldn't take much time 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 lender needs to close the loan.
Step 8 – Close the deal
Your lender will give you a Good Faith Estimate (GFE) of closing costs within three days of receiving your loan application. The estimate rests on the loan amount. RESPA requirements order that it has to contain all closing costs and be within a precise range of accuracy, and I'll study the estimate and let you know if everything looks okay.
Then we'll close on your house. This will most likely occur at a title company or escrow office and is often a smooth and peaceful affair.
Step 9 – Move in
You made it! Now you can move into your new home. Enjoy it. And if you have any questions, just contact me at 210-422-5699 or send me an e-mail.