Buying or selling a home in Boca Raton? Joan Siegel can help.
Purchasing a home can be stressful for many people, but with a little planning ahead of time, it's not all that difficult.
I like to provide buyers with an outline of the whole deal so they'll understand exactly what to expect.
Below are my nine steps to purchasing a home.
Step 1 – Get ready to buy
Before you start searching for a home, there are many things you should contemplate.
You'll want to form a check list of features you need to have, get a plan of what school districts and neighborhoods you'd like to live in, and begin working on your budget.
Ensuring your mortgage payment is no more than 30 percent of your net monthly income is a good rule to follow.
Step 2 – Get in touch with a real estate agent in Boca Raton
That's where I can help.
I can set up a time to meet so we can talk about your real estate needs and get an idea of your plans for the future.
We'll discuss neighborhoods, schools in the Boca Raton area, the mortgage and housing industries, and any other economic factors that could potentially affect your purchase today or in the future.
I'll also help you start the loan process.
There are some very good mortgage professionals in Boca Raton, and I work with a lot of them, so you're in great hands.
They'll help you choose which type of loan is best for you, as well as help you get approved.
Step 3 – Begin looking for a home
After our initial meeting, I'll begin searching for available homes on the market that are a great fit for you.
I'll research most of the homes and reject the duds, and then we'll book appointments to tour the houses at a time that's convenient for you.
When we tour the homes, I'll identify positive features and bad ones. And I'll ask you to tell me about things you like and don't like.
Usually, buyers revise their must-have list as we view houses and some things become far more necessary than others.
If that happens, I'll look through the listings once again and trim it down to the home you've been waiting for.
Step 4 – Get a feel for the market
An agent's understanding of the Boca Raton market is a leading factor in your house search. And I can assure you I'm conscious of all the neighborhoods and school districts, and I'll communicate which districts are "hot" and demand prompt action and the ones that are "cool" and allow for thoughtful consideration.
When we view houses, I'll make sure to communicate when the seller's asking price has room for bargaining and also when I believe the house is "priced to sell."
Every REALTOR® in Boca Raton will claim to truly know the housing market, but be careful, and make sure you ask your agent a lot of questions.
If things don't add up, contact me at 561.289.2526 or e-mail me at email@example.com, and I'd be more than happy to answer any questions you might have. My market knowledge will help you stay a step ahead through the entire process.
Step 5 – Find your dream home
I'm positive we'll find the house of your dreams in Boca Raton. When that happens, I'll thoroughly create your real estate purchase offer. The offer will be tailored with your needs in mind, including a lot of contingencies, such as getting financing, carrying out the inspection, and a clear title.
When presenting your offer, you'll likely need to submit "earnest money." This is a cash deposit made to the home seller to secure the offer to buy the property and is often put towards the cost of closing. If your offer is accepted, we should close on the home about 30 to 60 days after. 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 pretty common to receive a counter offer. Don't let this alarm you. We'll figure out whether or not to take the counter offer, present our own counter offer, or refuse the seller's offer and go on.
How aggressively we negotiate the deal depends on market conditions.
In addition, we'll work within your financing constraints. And when it's all said and done, we'll compose a contract that is best for you.
Step 7 – Secure your loan
Upon finalizing the deal, you'll start working with your mortgage lender to close the loan.
If you're pre-approved, this won't take much time at all. However, you'll want to stay in close contact with your mortgage 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) outlining your closing costs from your mortgage lender within three days of receiving your loan application.
The estimate depends on the loan amount, and RESPA requirements order that it has to include all closing costs and fall within a strict range of accuracy. I'll review the estimate and let you know if it all looks all right.
Then it's time to close on your house. This will most likely happen at a title company or escrow office and will probably be a smooth and comfortable occasion.
Step 9 – Move in
You made it! Now you can move into your new home. Enjoy it. And if you have any questions, make sure you contact me at 561.289.2526 or send me an e-mail.