Let Sandy & Ray Realty LLC assist you in purchasing a home in Mount Dora
Purchasing a home is a stressful event for a lot of people, but with a bit of up-front planning, it isn't too hard. I like to supply buyers with an overview of the whole deal so they'll know exactly what to expect. Below are my nine steps to purchasing a home.
Step 1 – Prepare to buy a home
There are plenty of things you should do before commencing your home search. You'll probably want to put together a check list of features you need, get a feel for what school districts you want to live in, and begin planning your budget. A good rule of thumb to adhere to is that your mortgage payment should be 30 percent of your net monthly income.
Step 2 – Get with a real estate agent
This is where Sandy & Ray LLC can help. I'd be happy to set up a time to get together 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 everything from neighborhoods, schools in the Mount Dora area, the mortgage and housing industries, to any other economic factors that may potentially affect your buying decision today or in the future.
In addition, I'll assist you with getting started on your loan. Sandy & Ray LLC partners with some of Mount Dora's finest mortgage professionals, so you're in great hands. They'll help you choose which kind of loan is best for you, as well as help you get approved.
Step 3 – Begin house hunting
Following our initial meeting, I'll start looking for houses on the market that are good for you. I'll preview many of the homes and throw out the bad ones, and then we'll schedule appointments to tour the homes when it's most convenient for you.
As we view the homes, I'll show you the good features and bad ones. And I'll ask you to tell me about things you like and dislike. Frequently, buyers amend their list of must-haves as we tour homes and some features become far more important than others. If that's the case, I'll look through all the listings again and narrow it down to the house you've been waiting for.
Step 4 – Get a feel for the market
My knowledge of the Mount Dora home market is a valuable resource in your house search. I am acquainted with all the neighborhoods and school districts, and I'll communicate some districts are "hot" and call for prompt action and the others that are "cool" and allow for thoughtful consideration.
When we view houses, I'll be sure to tell you when the asking price has room for negotiation and also when I know the house is "priced to sell." Be mindful and be sure to ask your agent a lot of questions, as every REALTOR® in Mount Dora will claim to truly know the housing market. If things don't add up, call me at 352-430-5846 or e-mail me at email@example.com, and I'll be glad to answer your questions. My understanding of the market will help you stay a step above the rest through the entire deal.
Step 5 – Find the home of your dreams
I'm certain we'll find the home of your dreams in the Mount Dora area, and when we do, I'll thoroughly develop your home purchase offer. The offer will be tailored exactly to your needs. Whenever necessary, I never forget to make contracts contingent upon items like obtaining financing and the results of the home inspection.
When we submit your purchase offer, you'll likely need to present "earnest money." This is a cash deposit made to the home seller to secure the offer to purchase the property and is usually applied to the closing costs. If the offer is accepted by the seller, we should close on the property about 30 to 60 days after. This allows necessary time for your mortgage financing.
Step 6 – Negotiate
Most 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 discuss whether or not to take the counter offer, propose our own counter offer, or refuse the seller's offer and move on.
Market circumstances determine how aggressively we negotiate the contract. In addition, we'll work within your financing limits. And at the end of the day, we'll assemble a contract that's best for you.
Step 7 – Obtain your loan
After the deal is finalized, you'll start working with your mortgage lender to close the loan. If you're pre-qualified, it won't take much time at all, but you'll need to keep in close contact with your mortgage lender. And I'll sort out all the property information your lender will need to close the loan.>
Step 8 – Close the deal
Your mortgage lender will send you a Good Faith Estimate (GFE) of closing costs within three days of accepting your loan application. The estimate is based on the loan amount, and RESPA requirements order that it has to include all closing costs and be within a close range of accuracy. I'll go over the estimate and let you know if it all looks adequate.
Then we'll close on your home. This should take place at a title company or escrow office and will likely be a smooth and easygoing affair.
Step 9 – Move in
You made it! It's time to move into your new house. Enjoy it. And if you need anything or have any questions, simply contact me at 352-430-5846 or send me an e-mail.