With a little up-front planning, purchasing a home isn't very complex, but the event is stressful for many people.
I like to give buyers a road map of the whole deal so they'll know exactly what they can expect.
These are my nine steps to purchasing a home.
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When you're ready to get started, you can contact me here or send e-mail to joan@countryclublife.com. I'm happy to address any questions you have regarding this information.
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Step 1 – Get ready to buy a home
There are several things you'll want to contemplate before you start looking for a home.
When you start your search, you'll want to put together a check list of features you want to have, get a feel for what school districts you'd like to live in, and begin planning your budget.
A good principle to follow is that your mortgage payment should be less than or around a third of your monthly income.
Step 2 – Talk to a real estate agent
This is where Lang Realty can help.
We can arrange 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 talk about neighborhoods, school districts in the Boca Raton area, the mortgage and housing industries, and any additional economic factors that may affect your purchase today or in the future.
I'll also help you start the loan process.
Lang Realty works with some of Boca Raton's finest mortgage professionals, so you're in great hands.
They will help you choose which kind of loan is best for you, as well as help you get qualified.
Step 3 – Start looking for a house
After our initial meeting, I'll start looking for homes on the market that best suit you.
I'll preview most of the houses and ignore the bad ones, and then we'll schedule appointments to view the houses when it's most convenient for you.
When we view houses, I'll show you the good features, as well as bad ones. I'll also ask you to talk about things you like and don't like.
It's common for buyers to revise their must-have list as we view homes and some things become more crucial than others.
If that happens, I'll search the listings again and narrow it down to the home you've been waiting for.
Step 4 – Know the market
My knowledge of the Boca Raton housing market is a valuable resource in your house search. I am mindful of all the neighborhoods and schools, and I can communicate which neighborhoods are "hot" and call for immediate action and others that are "cool" and allow for careful consideration.
When we tour houses, I'll let you know if the seller's list price has room for negotiation or if I believe the house is "priced to sell."
Be careful and be sure to ask lots of questions, as every real estate agent in Boca Raton will tell you they comprehend the home market.
If it doesn't seem like they know everything, call me at (561) 289-2526 or e-mail me at joan@countryclublife.com, and I'd be happy to answer any questions you have. My market expertise will keep you a step ahead through the entire deal.
Step 5 – Find the house you've been waiting for
We'll find your dream home in the Boca Raton area, and when that happens, I'll thoroughly create 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.
Upon presenting your purchase offer, you'll want to present "earnest money." This is a cash deposit made to a seller to secure an offer to purchase the property, and it's often applied to the closing costs. If the offer is accepted by the seller, we should close on the property about 30 to 60 days afterward. This allows enough time for your mortgage financing.
Step 6 – Negotiate the deal
A lot of deals aren't closed on the first offer – it's extremely common to receive a counter offer. But don't let this intimidate you. We'll figure out whether or not to consent to the counter offer, submit 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 budget. And when it's all said and done, we'll put together a contract that's best for you.
Step 7 – Obtain your loan
Upon completing the deal, you'll begin working with your lender to close the loan.
If you're pre-approved, this won't be a long process at all. But you'll want to keep in close contact with your lender.
And I'll take care of 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) of closing costs from your mortgage lender within three days of taking your application.
This estimate is formed from 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 review the estimate and let you know if everything looks okay.
Then it's time to close on your home. This will probably happen at a title company or escrow office and will probably be a smooth and comfortable occurrence.
Step 9 – Move in
Congratulations! Now you can move into your new home. Enjoy it. And if you need anything, just contact me at (561) 289-2526 or send me an e-mail.
I'll help you search just as soon as I'm big enough
