Buying or selling a home in Santa Fe? Leyba Real Estate LLC can help.
Buying a home is intimidating for many people, but with a bit of planning ahead of time, it isn't very complex.
So they'll understand exactly what to expect, I like to provide buyers with a road map of the whole deal.
Below are my nine steps to buying a home.
If you have questions regarding this information or if you're prepared to get started, just contact me here or e-mail me at .
Step 1 – Prepare to purchase a home
There are plenty of things you need to consider before beginning your home search.
You'll probably want to put together an outline of features you need, plan for what school districts and neighborhoods you want to live in, and begin planning your budget.
Ensuring your mortgage payment is less than a third of your net monthly income is a good rule to go by.
Step 2 – Communicate with a real estate agent in Santa Fe
This is where I can help.
We'll book a time to get together so we can talk about why you want to buy a home and get an idea of your future plans.
We'll talk about neighborhoods, schools in the Santa Fe area, the mortgage and housing industries, and any additional economic factors that could potentially affect your buying decision today or in the future.
I can also assist you in getting started on your loan.
There are some very good mortgage professionals in Santa Fe, and I work with a lot of them, so you're in great hands.
They will help you choose which kind of loan is best for you, as well as help you get qualified.
Step 3 – Begin your home search
After we meet for the first time, I'll start finding available houses on the market that best suit you.
I'll research many of the houses and throw out the duds, and then we'll set up appointments to tour the homes whenever it's convenient for you.
As we tour the houses, I'll point out good features and negative ones. I'll even ask you to point out what things you like and dislike.
Frequently, buyers revise their list of must-haves as we tour homes and some features become far more crucial than others.
If that happens, I'll look through all the listings again and trim it down to the home of your dreams.
Step 4 – Comprehend the market
My understanding of the Santa Fe market is an imperative component in your home search. I'm mindful of all the schools and neighborhoods, and I'll alert you to which districts are "hot" and require prompt action and some that are "cold" and allow for thoughtful analysis.
As we tour houses, I'll make sure to communicate if the list price has room for bargaining or if I believe the home is "priced to sell."
Every REALTOR will claim to truly know the housing market, but take note, and be sure to ask lots of questions.
If things don't add up, contact me at 505-473-0223 or e-mail me at , and I'll be happy to answer your questions. My market knowledge will help you stay a step ahead throughout the entire process.
Step 5 – Find the home you've been looking for
We'll find the home of your dreams in Santa Fe, and when we do, 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 acquiring financing, completing the inspection, and a clear title.
Upon turning in your offer, most likely you'll need to present "earnest money." This is a cash deposit submitted to a home seller to secure an offer to buy the property. The amount is typically applied to the cost of closing. If the offer is accepted by the seller, we should close on the property within 30 to 60 days after. This allows sufficient time for your mortgage financing.
Step 6 – Negotiate
Unfortunately most deals aren't closed on the beginning offer – it's very common to receive a counter offer. Don't let this intimidate you. We'll talk over whether or not to consent to the counter offer, present our own counter offer, or refuse the seller's offer and move on.
Market circumstances determine how aggressively we negotiate the deal.
In addition, we'll work within your financing limits. And when it's all said and done, we'll assemble a deal that's best for you.
Step 7 – Obtain a loan
Once the deal is finalized, you'll begin working with your mortgage lender to close the loan.
This shouldn't be a long process at all if you're already pre-qualified, but you'll need to stay in close contact with your lender.
And I'll take care of all the property information your mortgage lender needs to close the loan.
Step 8 – Close the deal
Your lender will supply you with a Loan Estimate (LE) of closing costs within three days of taking your application. You'll get a Loan Estimate (LE) detailing closing costs from your mortgage lender within three days of taking your loan application.
The estimate rests on the loan amount. RESPA requirements dictate that it has to involve all closing costs and be within a strict range of accuracy, and I'll analyze the estimate and let you know if it all looks okay.
Then we'll close on your home. This will probably occur at a title company or escrow office and should be a smooth and stress-free 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, just call me at 505-473-0223 or e-mail me at .