Contemplating purchasing your home in Santa Fe? Leyba Real Estate LLC can help.
Purchasing a home can be stressful for most people, but it's not all that complex with some up-front planning.
So they understand exactly what they can expect, I will supply buyers with an overview of the entire deal.
Here are my nine steps to buying a home.
Should you have any questions about any of this information or if you're ready to get started, you can contact me here or e-mail me at .
Step 1 – Get ready to purchase a home
Before you commence your home search, there are a lot of things you'll want to contemplate.
You'll want to assemble a check list of must-have features, get a plan of what school districts and neighborhoods you want to live in, and start planning around your budget.
Ensuring your mortgage payment is less than or close to 30 percent of your net monthly income is a good rule of thumb to go by.
Step 2 – Connect with a real estate agent in Santa Fe
This is where I come in.
I'd like to schedule a time to meet with you and speak with you about why you want to buy a home and get an idea of your upcoming plans.
We'll talk about the mortgage industry, other economic factors that could affect your buying decision today or in the future, as well as neighborhoods and schools in the Santa Fe area.
In addition, I'll assist you with getting started on your loan.
There are some excellent mortgage professionals in Santa Fe, and I work with a lot of them, so you can rest assured that you're in great hands.
They will assist you in figuring out which kind of loan is best for you and help you get qualified.
Step 3 – Begin house hunting
After we meet, I'll begin searching for available houses on the market that meet your needs.
I'll get a sneak peek of many of the homes and eliminate the bad ones, and then we'll schedule appointments to tour the homes whenever it's convenient for you.
As we tour the houses, I'll identify good features, as well as bad ones. And I'll ask you to point out what things you like and don't like.
Frequently, buyers change their list of must-haves as we tour homes and some items become more essential than others.
If that happens, I'll look through all the listings once more and narrow it down to the house you've been dreaming about.
Step 4 – Get a grasp of the housing market
Your agent's understanding of the Santa Fe market is a leading factor in your home search. And I assure you I'm familiar with all the school districts and neighborhoods, and I will alert you to certain areas are "hot" and demand prompt action and the ones that are "cold" and allow for more consideration.
When we tour houses, I'll let you know when the seller's list price has room for negotiation and when I know the house is "priced to sell."
Be on guard and be sure to ask your agent lots of questions, as every REALTOR will convince you they comprehend the home market.
If it appears they don't know everything, contact me at 505-473-0223 or e-mail me at , and I'd be happy to answer your questions. My knowledge of the market will help you stay a step ahead through the entire deal.
Step 5 – Find the home you've been waiting for
I'm positive we'll find your dream house in Santa Fe. When that happens, I'll meticulously create your home purchase offer. The offer will be tailored to suit your needs and the home, including many contingencies. A few examples are acquiring financing, finishing the home inspection, and a clean title.
When sending in your purchase offer, you'll probably want to present "earnest money." This is a cash deposit given to the seller to secure an offer to purchase the property and is usually put towards the closing costs. If the offer is accepted, we should close on the property about 30 to 60 days after. This allows necessary time for your mortgage financing.
Step 6 – Negotiate the deal
Most contracts don't close on the first offer, and it's widely common to receive a counter offer. But don't let this discourage you. We'll talk about whether or not to take the counter offer, present our own counter offer, or decline the seller's offer and go on.
The state of the market determines 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 create a contract that's best for you.
Step 7 – Secure your loan
After the contract is signed, you'll begin working with your lender to close the loan.
This shouldn't be a long process at all if you're pre-approved, but you'll need to stay in close contact with your mortgage lender.
And I'll sort out all the property information your lender needs to close the loan.
Step 8 – Close the deal
You'll get a Loan Estimate (LE) detailing your closing costs from your lender within three days of getting your loan application.
This estimate depends on the loan amount. RESPA requirements dictate that it has to include all closing costs and be within a strict range of accuracy, and I'll review the estimate and let you know if everything looks all right.
Then it's time to close on your house. This will probably occur at a title company or escrow office and will most likely be a smooth and relaxing occasion.
Step 9 – Move in
Congratulations! Now you can move into your new house. Enjoy it. And if you need anything, just contact me at 505-473-0223 or e-mail me at .