Buying or selling a home in Santa Fe?

For most people, purchasing a home can be a stressful event. However, with a bit of planning ahead of time, it's not too confusing. So they know exactly what to expect, I like to supply buyers with an outline of the whole deal. Below are my nine steps to buying a home. If you have any questions regarding any of this information or if you're prepared to get started, just contact me here or e-mail me at .

Step 1 – Prepare to purchase
Before you start searching for a home, there are a lot of things you should contemplate. You'll most likely want to assemble a list of items you need to have, plan for what neighborhoods and school districts you want to live in, and start planning your budget. Keeping your mortgage payment less than or around 30 percent of your net monthly income is a good rule to adhere to.

Step 2 – Communicate with a real estate agent
That's where I come in. We can plan a time to get together so we can talk about your real estate needs and get an idea of your upcoming plans. We'll discuss neighborhoods, schools in the Santa Fe area, the mortgage industry, and any other economic factors that could potentially affect your purchase today or in the future.

I'll also assist you in getting started on your loan. There are some very good mortgage professionals in Santa Fe, and I partner with a lot of them, so you'll be in great hands. They'll assist you in figuring out which type of loan is best for you and help you get qualified.

Step 3 – Begin looking
After we meet, I'll start finding houses on the market that are great for you. I'll research many of the homes and reject the duds, and then we'll book appointments to view the houses whenever it's most convenient for you.

As we view the houses, I'll call attention to positive features and bad ones. I'll also ask you to talk about things you like and don't like. It's pretty common for buyers to amend their wish list as we view houses and some features become far more essential than others. If such is the case, I'll go back through all the listings another time and narrow it down to the house you've been dreaming about.

Step 4 – Get a grasp of the market
An agent's awareness of the Santa Fe housing market is an imperative factor in your house search. And I assure you I'm familiar with all the school districts and neighborhoods, and I'll alert you to some areas are "hot" and require immediate action and some that are "cold" and allow for cautiousness.

As we view houses, I'll let you know when the seller's asking price has room for negotiation and when I trust the house is "priced to sell." When working with an agent, trust your instincts and make sure you ask a lot of questions. Every REALTOR in Santa Fe will claim to truly understand the market. If it seems like they don't know everything, contact me at 5054730223 or e-mail me at , and I'd be more than happy to answer any questions you may have. My market knowledge will keep you a step ahead throughout the entire process.

Step 5 – Find the home you've been looking for
We'll find the home of your dreams in the Santa Fe area, and when that happens, I'll thoroughly create your home purchase offer. The offer will be made to suit your needs and the home. We'll include many contingencies, such as obtaining financing, carrying out the home inspection, and a clear title.

When turning in your offer, you'll want to present "earnest money." This is a cash deposit submitted to the home seller to secure an offer to purchase the property, and it's usually applied to the closing costs. If the seller accepts the offer, we should close on the home about 30 to 60 days after. This allows necessary time for your mortgage financing.

Step 6 – Negotiate the deal
Unfortunately most contracts don't close on the initial offer, and it's pretty common to receive a counter offer. But don't let it discourage you. We'll discuss whether or not to accept the counter offer, submit our own counter offer, or decline the seller's offer and move on.

How aggressively we negotiate the contract depends on market circumstances. We'll also work within your financing limits. And at the end of the day, we'll formulate a contract that's best for you.

Step 7 – Secure your loan
Upon signing the contract, you'll begin working with your mortgage lender to close the loan. If you're pre-qualified, this won't take very long at all. But you need to keep in close contact with your lender. And I'll care for all the property information your mortgage lender will need to close the loan.

Step 8 – Close the deal
Your lender will give you a Loan Estimate (LE) outlining closing costs within three days of accepting your application. You'll get a Loan Estimate (LE) detailing 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 involve all closing costs and fall within a tight range of accuracy, and I'll go over the estimate and let you know if everything looks permissible.

Then we'll close on your house. This should take place at a title company or escrow office and should be a smooth and hassle-free occurrence.

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 call me at 5054730223 or e-mail me at .