Are you purchasing a new home in Santa Fe? Leyba Real Estate LLC can help.
Purchasing a home is a stressful event for many people, but with some planning ahead of time, it isn't that complicated.
I like to furnish buyers with an overview of the entire deal so they know exactly what they can expect.
Below are my nine steps to buying a home.
If you have any questions regarding any of this information or if you're ready to get started, simply contact me here or e-mail me at .
Step 1 – Get ready to buy a home
There are plenty of things you need to do prior to commencing your home search.
When you start your search, you'll want to form a check list of must-haves, get a plan of what neighborhoods you'd like to live in, and begin planning your budget.
Keeping your mortgage payment less than or close to 1/3 of your monthly income is a good rule of thumb to adhere to.
Step 2 – Speak with a real estate agent
This is where I can help.
We can arrange a time to meet so we can talk about your real estate needs and get an idea of your future plans.
We'll discuss neighborhoods, school districts in the Santa Fe area, the mortgage industry, and any additional economic factors that may affect your purchase today or in the future.
I can also help you start the loan process.
I work with some of Santa Fe's best mortgage professionals, so you can rest assured that you're in great hands.
They'll help you figure out which kind of loan is best for you, as well as help you get qualified.
Step 3 – Begin looking
Following our initial meeting, I'll begin finding available homes on the market that are a good fit for you.
I'll get a sneak peek of many of the houses and exclude the duds, and then we'll schedule appointments to tour the homes when it's convenient for you.
As we tour the houses, I'll call attention to good features, as well as negative ones. I'll also ask you about things you like and don't like.
It's common for buyers to update their must-have list as we tour homes and some features become more crucial than others.
If that's the case, I'll look through all the listings again and narrow it down to the house you've been wishing for.
Step 4 – Know the market
An agent's knowledge of the Santa Fe housing market is a fundamental factor in your house search. And I assure you I'm acquainted with all the school districts and neighborhoods, and I'll alert you to which districts are "hot" and require prompt action and the ones that are "cold" and allow for more analysis.
As we tour houses, I'll make sure to communicate when the seller's asking price has room for bargaining and 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. Any real estate agent in Santa Fe will tell you they 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 glad to answer any questions you may have. My knowledge of the market will keep you a step ahead throughout the entire process.
Step 5 – Find your dream home
I'm certain we'll find the home of your dreams in the Santa Fe area. When that happens, I'll thoroughly develop your real estate purchase offer. The offer will be made to fit your needs and the home. We'll include some contingencies, such as acquiring financing, finishing the inspection, and a clean title.
When sending in your offer, you'll need to submit "earnest money." This is a cash deposit given to a home seller to secure the offer to buy the property and is often applied to the closing costs. If the offer is accepted by the seller, we should close on the property within 30 to 60 days afterward. This allows necessary time for your mortgage financing.
Step 6 – Negotiate the deal
A lot of deals don't close on the initial offer, and it's really common to receive a counter offer. Don't let it intimidate you. We'll discuss whether or not to accept the counter offer, present our own counter offer, or refuse the seller's offer and move on.
How aggressively we negotiate the deal depends on the state of the market.
We'll also work within your financing budget. And at the end of the day, we'll create a contract that works well for you.
Step 7 – Get a loan
Upon finishing the contract, you'll begin working with your lender to close the loan.
If you've been pre-approved, it won't take much time at all, but you'll want to stay in close contact with your mortgage lender.
And I'll sort out all the property information your lender will need to close the loan.
Step 8 – Close the deal
Your lender will furnish you with a Loan Estimate (LE) detailing closing costs within three days of accepting your application. You'll get a Loan Estimate (LE) outlining your closing costs from your mortgage lender within three days of taking your application.
The estimate depends on the loan amount. RESPA requirements mandate that it has to contain all closing costs and fall within a narrow range of accuracy, and I'll analyze the estimate and let you know if it all looks good.
Then it's time to close on your house. This should take place at a title company or escrow office and will most likely be a smooth and stress-free occasion.
Step 9 – Move in
Congratulations! It's time to move into your new home. Enjoy it. And if you need anything, be sure to contact me at 5054730223 or e-mail me at .