Buying or selling a home? Leyba Real Estate LLC can help.
Purchasing a home intimidates many people, but it's not that complex with a bit of planning ahead of time.
So they understand exactly what they can expect, I will supply buyers with a road map of the whole deal.
These are my nine steps to purchasing a home.
Should you have questions about any of this information or if you're ready to get started, simply contact me here or e-mail me at .
Step 1 – Prepare to buy
Before you begin searching for a home, there are plenty of things you'll want to consider.
You'll want to create an index of features you want to have, get an idea of what neighborhoods you want to live in, and begin planning your budget.
Ensuring your mortgage payment is around a third of your net monthly income is a good rule of thumb to go by.
Step 2 – Contact a real estate agent
This is where I come in.
I'd love to plan a time to get together with you and talk about why you want to buy a home and get an idea of your upcoming plans.
We'll discuss everything from neighborhoods, school districts in the Santa Fe area, the mortgage industry, to any other economic factors that could affect your purchase today or in the future.
I'll also assist you with getting started on your loan.
Leyba Real Estate LLC works with some of Santa Fe's finest mortgage professionals, so you can rest assured that you're in great hands.
They'll help you decide which kind of loan is best for you, as well as help you get approved.
Step 3 – Start house hunting
After our first meeting, I'll begin finding available homes on the market that are a great fit for you.
I'll get a sneak peek of most of the homes and reject the duds, and then we'll schedule appointments to tour the homes whenever it's convenient for you.
As we view the houses, I'll show you the positive features, as well as negative ones. I'll even ask you about things you like and don't like.
Most often, buyers amend their list of must-haves as we view houses and some features become far more essential than others.
If that's the case, I'll search all the listings one more time and narrow it down to the home you've been dreaming about.
Step 4 – Get a grasp of the market
My understanding of the Santa Fe market is a fundamental aspect in your home search. I'm familiar with all the neighborhoods and school districts, and I can let you know some areas are "hot" and demand immediate action and others that are "cold" and allow for more analysis.
When we tour homes, I'll be sure to tell you if the list price has room for bargaining or if I believe the house is "priced to sell."
When working with an agent, be careful and make sure you ask lots of questions. Every real estate agent in Santa Fe will convince you they truly understand the market.
If it seems like they don't know everything, call me at 505-473-0223 or e-mail me at , and I'll be happy to answer any questions you might have. My market expertise will help you stay a step ahead through the entire process.
Step 5 – Find the house you've been looking for
I'm positive we'll find your dream house in the Santa Fe area. When that happens, I'll thoroughly create your purchase offer. The offer will be tailored to suit your needs and the home, including several contingencies, such as getting financing, completing the home inspection, and a clean title.
Upon sending in your offer, you'll need to submit "earnest money." This is a cash deposit submitted to the seller to secure the offer to buy the property. The amount is often applied to the cost of closing. If your offer is accepted, we should close within 30 to 60 days afterward. This allows sufficient time for your mortgage financing.
Step 6 – Negotiate
Unfortunately most deals aren't closed on the first offer, and it's very common to receive a counter offer. Don't let this alarm you. We'll talk about whether or not to consent to the counter offer, present our own counter offer, or refuse the seller's offer and go on.
Market circumstances determine how aggressively we negotiate the contract.
In addition, we'll work within your budget. And at the end of the day, we'll assemble a deal that's best for you.
Step 7 – Obtain financing
Upon finishing the deal, you'll start working with your lender to close the loan.
It won't be a long process at all if you've been pre-qualified, but you need to stay in close contact with your lender.
And I'll deal with all the property information your mortgage lender needs to close the loan.
Step 8 – Close the deal
Your mortgage lender will furnish you with a Loan Estimate (LE) of your closing costs within three days of accepting your loan application. You'll get a Loan Estimate (LE) outlining your closing costs from your mortgage lender within three days of accepting your loan application.
This estimate rests on the loan amount. RESPA requirements dictate that it has to contain all closing costs and be within a narrow range of accuracy, and I'll analyze the estimate and let you know if everything looks permissible.
Then we'll close on your home. This will most likely occur at a title company or escrow office and will probably be a smooth and comfortable 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, make sure you contact me at 505-473-0223 or e-mail me at .