Are you purchasing your home in Santa Fe?

For a lot of people, purchasing a home can be a stressful event. However, with some up-front planning, it's not all that complicated. I like to give buyers an outline of the entire deal so they'll know exactly what they can expect. Below are my nine steps to buying a home. When you're ready to get started, simply contact me here or e-mail me at . I'm glad to address questions you have about this information.

Step 1 – Prepare to purchase a home
Prior to starting your home search, there are many things you need to contemplate. You'll want to form a check list of must-haves, get a plan of what neighborhoods you want to live in, and begin planning around your budget. Keeping your mortgage payment less than 30 percent of your monthly income is a good principle to adhere to.

Step 2 – Get in touch with a real estate agent in Santa Fe
This is where Leyba Real Estate LLC comes in. We can arrange a time to meet so we can talk about why you want to buy a home and get an idea of your plans for the future. We'll discuss the mortgage industry, other economic factors that could affect your purchase today or in the future, as well as neighborhoods and schools in the Santa Fe area.

In addition, I'll help you get 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 will assist you in deciding which kind of loan is best for you and help you get approved.

Step 3 – Begin looking for a house
Following our first meeting, I'll begin finding homes on the market that meet your needs. I'll preview many of the homes and throw out the duds, and then we'll schedule appointments to tour the homes when it's convenient for you.

When we view houses, I'll call attention to positive features and bad ones. I'll even ask you what things you like and don't like. As a rule, buyers update their must-have list as we view houses and some items become far more essential than others. If that happens, I'll search the listings again and narrow it down to the house you've been waiting for.

Step 4 – Comprehend the housing market
My knowledge of the Santa Fe market is an imperative aspect in your house search. I am informed of all the school districts and neighborhoods, and I will let you know some neighborhoods are "hot" and require immediate action and others that are "cold" and allow for careful analysis.

When we view houses, I'll make sure to communicate if the seller's asking price has room for negotiation or if I believe the home is "priced to sell." When working with an agent, be careful and be sure to ask a lot of questions. Any real estate agent will tell you they understand the market. If it appears they don't know everything, just call me at 505-473-0223 or e-mail me at , and I'll be happy to answer your questions. My market expertise will keep you a step above the rest through the entire deal.

Step 5 – Find the house you've been looking for
I'm positive we'll find the house of your dreams in the Santa Fe area. When that happens, I'll precisely develop your home purchase offer. The offer will be tailored to suit your needs and the home, including many contingencies, such as obtaining financing, completing the inspection, and a clean title.

Upon sending in your purchase offer, you'll want to present "earnest money." This is a cash deposit made to the home seller to secure an offer to buy the property. The amount is often applied to the closing costs. If the seller accepts your offer, we should close about 30 to 60 days after. This allows ample time for your mortgage financing.

Step 6 – Negotiate
A lot of contracts don't close on the initial offer. It's extremely common to receive a counter offer. Don't let this alarm you. We'll consider whether or not to agree to the counter offer, propose our own counter offer, or decline the seller's offer and go on.

The state of the market determines how aggressively we negotiate the contract. We'll also work within your financing limits. And when it's all said and done, we'll assemble a contract that is best for you.

Step 7 – Obtain your loan
Once we sign the final deal, you'll start working with your mortgage lender to close the loan. If you've been pre-qualified, it shouldn't take much time at all. However, you'll want to stay in close contact with your mortgage lender. And I'll manage all the property information your lender will need to close the loan.

Step 8 – Close the deal
Your mortgage lender will supply you with a Loan Estimate (LE) of your closing costs within three days of taking your application. You'll get a Loan Estimate (LE) of your closing costs from your mortgage lender within three days of accepting your application. This estimate rests on the loan amount. RESPA requirements mandate that it has to involve all closing costs and be within a strict range of accuracy, and I'll study the estimate and let you know if it all looks okay.

Then it's time to close on your house. This will probably take place at a title company or escrow office and will most likely be a smooth and calm 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, simply contact me at 505-473-0223 or e-mail me at .