Buying a home in Santa Fe

For most people, buying a home is a stressful event. But with a bit of up-front planning, it isn't all that hard. So they'll know exactly what they can expect, I'll furnish buyers with a road map of the entire deal. Here are my nine steps to buying a home. If you have any questions about any of this information or if you're prepared to get started, simply contact me here or e-mail me at .

Step 1 – Get ready to purchase
Prior to beginning your home search, there are plenty of things you need to take into account. You'll probably want to make a list of must-haves, get a feel for what neighborhoods you want to live in, and start planning your budget. Keeping your mortgage payment less than or close to a third of your monthly income is a good rule of thumb to adhere to.

Step 2 – Communicate with a real estate agent
This is where I come in. We'll set up a time to get together so we can talk about why you want to buy a home and get an idea of your plans for the future. We'll talk about neighborhoods, schools in the Santa Fe area, the mortgage and housing industries, and any other economic factors that may potentially affect your buying decision today or in the future.

I can also assist you with getting started on your loan. I work with some of the finest mortgage professionals in Santa Fe, so you can rest assured that you're in great hands. They'll assist you with figuring out which type of loan is best for you and help you get qualified.

Step 3 – Start house hunting
After we meet, I'll start looking for homes on the market that best suit you. I'll get a sneak peek of many of the homes and exclude the bad ones, and then we'll book appointments to view the houses when it's most convenient for you.

When we tour the homes, I'll identify good features, as well as bad ones. I'll also ask you to tell us about things you like and don't like. Oftentimes, buyers change their must-have list as we view homes and some items become more essential than others. If that happens, I'll go back through all the listings one more time and narrow it down to the home you've been wishing for.

Step 4 – Know the housing market
My understanding of the Santa Fe home market is an imperative aspect in your home search. I am mindful of all the school districts and neighborhoods, and I will let you know which neighborhoods are "hot" and require prompt action and some that are "cool" and allow for careful analysis.

As we tour houses, I'll let you know if the list price has room for negotiation or if I believe the home is "priced to sell." Any real estate agent in Santa Fe will tell you they comprehend the market, but be on guard, and make sure you ask your agent lots of questions. If things don't add up, call me at 5054730223 or e-mail me at , and I'd be happy to answer any questions you have. My market knowledge will keep you a step ahead through the entire process.

Step 5 – Find the home of your dreams
We'll find the house of your dreams in the Santa Fe area, and when that happens, I'll precisely create your real estate purchase offer. The offer will be tailored exactly to your needs and the home, including several contingencies, such as obtaining financing, carrying out the inspection, and a clean title.

When we send in your purchase offer, you'll need to present "earnest money." This is a cash deposit made to a seller to secure the offer to buy the property. The amount is typically put towards the closing costs. If the offer is accepted by the seller, we should close within 30 to 60 days afterward. This allows necessary time for your mortgage financing.

Step 6 – Negotiate the deal
A lot of deals aren't closed on the beginning offer, and it's really common to receive a counter offer. Don't let it discourage you. We'll talk about whether or not to agree to the counter offer, propose our own counter offer, or reject the seller's offer and go on.

How aggressively we negotiate the deal depends on market conditions. We'll also work within your budget. And when it's all said and done, we'll formulate a contract that works well for you.

Step 7 – Get financing
Upon signing the deal, you'll start working with your lender to close the loan. If you're pre-qualified, it shouldn't take much time at all. However, you need to keep 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
You'll get a Loan Estimate (LE) of closing costs from your mortgage lender within three days of getting your loan application. This estimate rests on the loan amount, and RESPA requirements mandate that it has to include all closing costs and fall within a close range of accuracy. I'll review the estimate and let you know if everything looks all right.

Then we'll close on your house. This will most often happen at a title company or escrow office and is often a smooth and calm occasion.

Step 9 – Move in
Congratulations! Now you can move into your new house. Enjoy it. And if you have any questions, simply call me at 5054730223 or e-mail me at .