Buying or selling a home?
Purchasing a home is a stressful event for a lot of people, but with a bit of planning ahead of time, it isn't that hard.
I like to supply buyers with an outline of the whole deal so they'll know exactly what they can expect.
These are my nine steps to purchasing a home.
When you're ready to get started, just contact me here or e-mail me at . I'm glad to answer questions you have about this information.
Step 1 – Get ready to buy
There are many things you should contemplate before starting your home search.
When you start your search, you'll probably want to assemble an outline of must-haves, get an idea of what neighborhoods you'd like to live in, and begin planning your budget.
Keeping your mortgage payment less than 1/3 of your net monthly income is a good rule to adhere to.
Step 2 – Communicate with a real estate agent in Santa Fe
This is where I can help.
I'd be happy to plan a time to get together with you and communicate with you regarding 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 additional economic factors that may potentially affect your purchase today or in the future.
In addition, I'll assist you with getting started on your loan.
There are some great mortgage professionals in Santa Fe, and I work with a lot of them, so you'll be in great hands.
They'll help you decide which kind of loan is best for you, as well as help you get qualified.
Step 3 – Start house-hunting
After we meet, I'll start looking for available houses on the market that are a good fit for you.
I'll research most of the homes and eliminate the bad ones, and then we'll set up appointments to view the homes whenever it's most convenient for you.
When we view the homes, I'll identify good features, as well as negative ones. I'll even ask you to tell us about things you like and dislike.
Generally, buyers revise their must-have list as we tour homes and some things become more substantial than others.
If that happens, I'll look through all the listings again and narrow it down to the home of your dreams.
Step 4 – Know the housing market
My knowledge of the Santa Fe home market is a fundamental element in your house search. I am mindful of all the school districts and neighborhoods, and I can communicate which districts are "hot" and call for prompt action and others that are "cold" and allow for cautiousness.
As we tour homes, I'll make sure to communicate when the seller's asking price has room for negotiation and when I believe the home is "priced to sell."
When working with an agent, be mindful and be sure to ask plenty of questions. Any REALTOR in Santa Fe will tell you they comprehend the housing market.
If things don't add up, just 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 above the rest through the entire deal.
Step 5 – Find the house you've been looking for
I'm sure we'll find the house of your dreams in the Santa Fe area. When that happens, I'll thoroughly create your real estate purchase offer. The offer will be tailored with your needs in mind and the home, including several contingencies. A few examples are acquiring financing, carrying out the home inspection, and a clear title.
Upon turning in your offer, you'll need to present "earnest money." This is a cash deposit given to a seller to secure the offer to buy the property, and it's most often put towards the closing costs. If your offer is accepted, we should close on the property within 30 to 60 days after. This allows plenty of time for your mortgage financing.
Step 6 – Negotiate the deal
A lot of contracts aren't closed on the initial offer, and it's widely common to receive a counter offer. But don't let it alarm you. We'll consider whether or not to consent to the counter offer, propose our own counter offer, or reject the seller's offer and move on.
The state of the market determines how aggressively we negotiate the contract.
In addition, we'll work within your financing constraints. And at the end of the day, we'll put together a contract that is best for you.
Step 7 – Obtain your loan
Once the contract is finished, you'll start working with your lender to close the loan.
If you're already pre-approved, it won't take much time at all. But you should to stay in close contact with your mortgage lender.
And I'll look after all the property information your mortgage lender needs to close the loan.
Step 8 – Close the deal
You'll get a Loan Estimate (LE) outlining closing costs from your mortgage lender within three days of accepting your application.
The estimate depends on the loan amount. RESPA requirements order that it has to involve all closing costs and be within a strict range of accuracy, and I'll review the estimate and let you know if everything looks all right.
Then it's time to close on your home. This will most likely occur at a title company or escrow office and will probably be a smooth and calm occurrence.
Step 9 – Move in
Congratulations! It's time to move into your new house. Enjoy it. And if you need anything or have any questions, be sure to call me at 5054730223 or e-mail me at .