Purchasing a home in Santa Fe

For most people, buying a home is a stressful event. But with a little up-front planning, it's not very complicated. So they know exactly what they can expect, I like to give buyers an outline of the whole deal. Here are my nine steps to buying a home. When you're ready to get started, you can contact me here or e-mail me at . I'm glad to address questions you have regarding this information.

Step 1 – Prepare to purchase
There are several things you'll want to contemplate before you look for a home. You'll most likely want to form a list of items you want to have, plan for what neighborhoods you'd like to live in, and start working on 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 – Communicate with a real estate agent in Santa Fe
This is where Leyba Real Estate LLC comes in. I'd be happy to arrange a time to meet 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 talk about the mortgage industry, other economic factors that could potentially affect your buying decision today or in the future, as well as neighborhoods and school districts in the Santa Fe area.

I'll also help you begin the loan process. I work with some of Santa Fe's best mortgage professionals, so you'll be in great hands. They'll help you figure out which type of loan is best for you, as well as help you get qualified.

Step 3 – Begin house hunting
After our first meeting, I'll start looking for available houses on the market that are good for you. I'll get a sneak peek of many of the homes and ignore the duds, and then we'll book appointments to view the houses at a time that's convenient for you.

As we tour houses, I'll identify positive features, as well as bad ones. I'll also ask you about things you like and dislike. Most often, buyers update their list of must-haves as we tour homes and some items become more substantial than others. If such is the case, I'll search the listings one more time and trim it down to the house you've been waiting for.

Step 4 – Understand the housing market
An agent's understanding of the Santa Fe market is a crucial component in your house search. And I assure you I'm familiar with all the school districts and neighborhoods, and I will alert you to what districts are "hot" and warrant immediate action and some that are "cold" and allow for thoughtful examination.

As we view homes, I'll make sure to communicate when the asking price has room for negotiation and also when I think the home is "priced to sell." When working with an agent, be on guard and make sure you ask a lot of questions. Every REALTOR in Santa Fe will convince you they know the housing market. If things don't add up, call me at 5054730223 or e-mail me at , and I'd be more than happy to answer any questions you might have. My knowledge of the market will help you stay 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 carefully create your real estate purchase offer. The offer will be tailored exactly to your needs and the home, including several contingencies, such as acquiring financing, carrying out the home inspection, and a clean title.

When submitting your offer, most likely you'll need to submit "earnest money." This is a cash deposit made to a home seller to secure the offer to purchase the property, and it's often applied to the cost of closing. If the offer is accepted, we should close about 30 to 60 days afterward. This allows enough time for your mortgage financing.

Step 6 – Negotiate
A lot of deals aren't closed on the first offer, and it's widely common to receive a counter offer. But don't let this alarm you. We'll consider whether or not to accept the counter offer, submit our own counter offer, or refuse the seller's offer and go on.

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

Step 7 – Obtain financing
Once we sign the final contract, you'll begin working with your mortgage lender to close the loan. If you're already pre-qualified, it won't take very long at all, but you'll want to stay in close contact with your mortgage 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 supply you with a Loan Estimate (LE) detailing closing costs within three days of getting your application. You'll get a Loan Estimate (LE) of your closing costs from your mortgage lender within three days of taking your application. This estimate depends on the loan amount. RESPA requirements require that it has to involve all closing costs and fall within a narrow range of accuracy, and I'll examine the estimate and let you know if everything looks all right.

Then we'll close on your home. This will most often happen at a title company or escrow office and should be a smooth and stress-free affair.

Step 9 – Move in
Congratulations! It's time to move into your new home. Enjoy it. And if you have any questions, be sure to contact me at 5054730223 or e-mail me at .