Let Leyba Real Estate LLC assist you with buying a new home in Santa Fe
Buying a home can be stressful for most people, but it's not too confusing with some up-front planning.
So they know exactly what to expect, I like to provide buyers with a road map of the entire deal.
Here are my nine steps to buying a home.
If you have any questions about this information or if you're prepared to get started, you can contact me here or e-mail me at .
Step 1 – Prepare to purchase a home
There are plenty of things you'll want to consider prior to beginning your home search.
You'll most likely want to make an index of items you need to have, get an idea of what school districts and neighborhoods you want to live in, and start planning around your budget.
A good guideline to adhere to is that your mortgage payment should be less than or around a third of your net monthly income.
Step 2 – Talk to a real estate agent in Santa Fe
This is where I can help.
We can schedule a time to get together so we can talk about your real estate needs and get an idea of your plans for the future.
We'll discuss the mortgage and housing industries, other economic factors that might affect your buying decision today or in the future, as well as neighborhoods and schools in the Santa Fe area.
I'll also assist you with getting started on your loan.
I partner with some of the best mortgage professionals in Santa Fe, so you're in great hands.
They can assist you with choosing which kind of loan is best for you and help you get qualified.
Step 3 – Start your search
Following our first meeting, I'll start searching for houses on the market that are a good fit for you.
I'll get a sneak peek of many of the homes and reject the duds, and then we'll book appointments to tour the houses at a time that's convenient for you.
When we tour homes, I'll show you the positive features and bad ones. And I'll ask you what things you like and don't like.
Frequently, buyers change their must-have list as we view homes and some features become more substantial than others.
If such is the case, I'll go back through the listings again and trim it down to the house you've been dreaming about.
Step 4 – Comprehend the market
An agent's knowledge of the Santa Fe market is a fundamental agent in your home search. And I assure you I'm conscious of all the school districts and neighborhoods, and I can alert you to which neighborhoods are "hot" and require immediate action and the ones that are "cold" and allow for careful consideration.
When we view houses, I'll make sure to communicate if the seller's list price has room for negotiation or if I believe the home is "priced to sell."
When working with an agent, trust your instincts and be sure to ask plenty of questions. Any REALTOR in Santa Fe will claim to know the home market.
If things don't add up, just call me at 505-473-0223 or e-mail me at , and I'll be happy to answer any questions you may have. My knowledge of the market will keep you a step above the rest through the entire process.
Step 5 – Find the house you've been looking for
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 with your needs in mind and the home, including some contingencies, such as getting financing, completing the inspection, and a clean title.
When sending in your purchase offer, you'll probably want to present "earnest money." This is a cash deposit made to a home seller to secure the offer to buy the property, and it's most often put towards the cost of closing. If the offer is accepted, we should close within 30 to 60 days after. This allows sufficient time for your mortgage financing.
Step 6 – Negotiate the deal
Unfortunately most contracts don't close on the initial offer, and it's widely common to receive a counter offer. But don't let this discourage you. We'll consider whether or not to accept the counter offer, propose our own counter offer, or decline the seller's offer and move on.
Market conditions determine how aggressively we negotiate the contract.
We'll also work within your budget. And when it's all said and done, we'll put together a deal that's best for you.
Step 7 – Secure financing
Upon finishing the deal, you'll begin working with your lender to close the loan.
It won't take very long at all if you've been pre-approved, but you'll want to stay in close contact with your mortgage lender.
And I'll care for all the property information your mortgage lender needs to close the loan.
Step 8 – Close the deal
Your mortgage lender will give you a Loan Estimate (LE) of your closing costs within three days of receiving your application. You'll get a Loan Estimate (LE) detailing your closing costs from your mortgage lender within three days of receiving your loan application.
This estimate is based on the loan amount, and RESPA requirements order that it has to involve all closing costs and be within a strict range of accuracy. I'll study the estimate and let you know if everything looks permissible.
Then it's time to close on your home. This will most often occur at a title company or escrow office and will likely be a smooth and comfortable affair.
Step 9 – Move in
Congratulations! Now you can move into your new house. Enjoy it. And if you need anything or have any questions, be sure to contact me at 505-473-0223 or e-mail me at .