Are you contemplating purchasing your new home in Santa Fe? Leyba Real Estate LLC can help.
Buying a home is stressful for a lot of people, but with a little up-front planning, it's not all that hard.
So they'll understand exactly what they can expect, I'll provide buyers with a road map of the whole deal.
Below are my nine steps to buying a home.
Should you have any questions about any of this information or if you're prepared to get started, just contact me here or e-mail me at .
Step 1 – Get ready to purchase
Before you start your home search, there are plenty of things you need to do.
When you start your search, you'll probably want to assemble a check list of features you need to have, get a feeling for what neighborhoods and school districts you'd like to live in, and begin working on your budget.
A good guideline to follow is that your mortgage payment should be 1/3 of your net monthly income.
Step 2 – Connect with a real estate agent
This is where Leyba Real Estate LLC can help.
I'd like to book 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 upcoming plans.
We'll talk about everything from neighborhoods, school districts in the Santa Fe area, the mortgage and housing industries, to any other economic factors that may affect your purchase today or in the future.
I can also help you start the loan process.
There are some great mortgage professionals in Santa Fe, and I partner with a lot of them, so you can rest assured that you're in great hands.
They can assist you in choosing which kind of loan is best for you and help you get approved.
Step 3 – Begin looking for a home
After our first meeting, I'll begin searching for homes on the market that meet your needs.
I'll preview many of the homes and reject the bad ones, and then we'll book appointments to view the houses whenever it's convenient for you.
When we tour houses, I'll show you the positive features, as well as negative ones. And I'll ask you to point out what things you like and dislike.
It's common for buyers to change their must-have list as we view homes and some things become more essential than others.
If that happens, I'll go back through all the listings once more and narrow it down to the home you've been waiting for.
Step 4 – Understand the housing market
My knowledge of the Santa Fe market is a necessary element in your house search. I am mindful of all the schools and neighborhoods, and I'll communicate some areas are "hot" and demand immediate action and the ones that are "cold" and allow for cautiousness.
As we tour houses, I'll be sure to tell you if the asking price has room for bargaining or if I believe the home is "priced to sell."
When working with an agent, be on guard and be sure to ask lots of questions, as any REALTOR in Santa Fe will claim to truly understand the housing market.
If things don't add up, contact me at 505-473-0223 or e-mail me at , and I'll be more than happy to answer any questions you might have. My understanding of the market 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 Santa Fe, and when that happens, I'll meticulously develop your purchase offer. The offer will be made to suit your needs and the home. We'll include a lot of contingencies, such as obtaining financing, completing the home inspection, and a clear title.
When we turn in your offer, you'll likely need to submit "earnest money." This is a cash deposit given to the home seller to secure an offer to purchase the property, and it's usually put towards the cost of closing. If the offer is accepted by the seller, we should close on the property within 30 to 60 days afterward. This allows ample time for your mortgage financing.
Step 6 – Negotiate the deal
Most contracts aren't closed on the first offer – it's pretty common to receive a counter offer. But don't let it discourage you. We'll talk over whether or not to consent to the counter offer, propose our own counter offer, or refuse the seller's offer and go on.
The state of the market determines how aggressively we negotiate the deal.
In addition, we'll work within your financing constraints. And at the end of the day, we'll formulate a deal that works well for you.
Step 7 – Secure your loan
Once the deal is complete, you'll begin working with your lender to close the loan.
If you're pre-qualified, this won't take much time at all, but you should to stay in close contact with your lender.
And I'll care for all the property information your mortgage lender needs to close the loan.
Step 8 – Close the deal
Your lender will send you a Loan Estimate (LE) detailing your closing costs within three days of getting your loan application. You'll get a Loan Estimate (LE) outlining closing costs from your lender within three days of receiving your loan application.
This estimate is formed from the loan amount, and RESPA requirements mandate that it has to contain all closing costs and be within a tight range of accuracy. I'll review the estimate and let you know if it all looks permissible.
Then it's time to close on your home. This will most likely take place at a title company or escrow office and will likely be a smooth and pleasant occasion.
Step 9 – Move in
Congratulations! Now you can move into your new home. Enjoy it. And if you need anything or have any questions, be sure to call me at 505-473-0223 or e-mail me at .