Buying or selling a home? Target Cost Realty, LLC can help.
Purchasing a home is intimidating for many people, but with a little planning ahead of time, it isn't too confusing.
So they'll know exactly what to expect, I'll furnish buyers with an outline of the entire deal.
Here are my nine steps to buying a home.
Should you have any questions regarding this information or if you're prepared to get started, simply contact me here or e-mail me at .
Step 1 – Prepare to buy
There are plenty of things you need to consider prior to commencing your home search.
It's likely that you'll want to make a checklist of must-have features, plan for what neighborhoods and school districts you'd like to live in, and begin planning around your budget.
Keeping your mortgage payment around 1/3 of your monthly income is a good rule of thumb to follow.
Step 2 – Communicate with a real estate agent
This is where I come in.
We'll arrange 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 neighborhoods, schools in the Grand Prairie area, the mortgage industry, and any additional economic factors that could potentially affect your purchase today or in the future.
I can also help you facilitate the loan process.
Target Cost Realty, LLC partners with some of Grand Prairie's finest mortgage professionals, so you can rest assured that you're in great hands.
They can help you choose which type of loan is best for you, as well as help you get approved.
Step 3 – Begin your home search
Following our initial meeting, I'll start looking for houses on the market that meet your needs.
I'll get a sneak peek of most of the homes and eliminate the duds, and then we'll book appointments to tour the houses whenever it's most convenient for you.
As we view homes, I'll point out positive features, as well as negative ones. I'll also ask you about things you like and dislike.
It's widely common for buyers to revise their must-have list as we tour homes and some things become more essential than others.
If that happens, I'll look through all the listings again and trim it down to the house you've been waiting for.
Step 4 – Comprehend the market
An agent's understanding of the Grand Prairie home market is a leading agent in your house search. And I assure you I'm acquainted with all the schools and neighborhoods, and I'll communicate certain areas are "hot" and warrant prompt action and others that are "cool" and allow for more analysis.
As we tour homes, I'll be sure to tell you if the asking price has room for bargaining or if I believe the house is "priced to sell."
Be careful and make sure you ask your agent a lot of questions, as any real estate agent in Grand Prairie will claim to know the housing market.
If things don't add up, contact me at (972) 504-8021 or e-mail me at , and I'll be happy to answer any questions you might 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 home of your dreams in Grand Prairie, and when that happens, I'll carefully 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 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 and is typically put towards the closing costs. If your offer is accepted by the seller, we should close about 30 to 60 days afterward. This allows enough time for your mortgage financing.
Step 6 – Negotiate
Most deals don't close on the beginning offer. It's pretty common to receive a counter offer. But don't let it intimidate you. We'll discuss whether or not to take the counter offer, present our own counter offer, or decline the seller's offer and go on.
The state of the market will play a part in how aggressively we negotiate the contract.
In addition, we'll work within your budget. And at the end of the day, we'll create a deal that's best for you.
Step 7 – Obtain your loan
After the contract is signed, you'll begin working with your mortgage lender to close the loan.
If you're pre-approved, it shouldn't take very long at all, but you should to keep 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
You'll get a Loan Estimate (LE) of closing costs from your lender within three days of accepting your loan application.
The estimate is formed from the loan amount, and RESPA requirements order that it has to contain all closing costs and be within a precise range of accuracy. I'll review the estimate and let you know if everything looks okay.
Then it's time to close on your house. This will most likely take place at a title company or escrow office and is often a smooth and stress-free affair.
Step 9 – Move in
Congratulations! Now you can move into your new home. Enjoy it. And if you have any questions, be sure to contact me at (972) 504-8021 or e-mail me at .