Buying or selling a home in Chesterfield?
Buying a home is a stressful event for most people, but it isn't too complicated with a little up-front planning. So you know exactly what to expect, I like to furnish my buyers with an overview of the entire deal. These are my nine steps to buying a home.
Should you have any questions about any of this information or if you're prepared to get started, you can contact me here or send e-mail to firstname.lastname@example.org
Step 1 – Prepare to purchase
Before you start searching for a home, there are a lot of things you need to take into account. When you begin your search, you'll probably want to create a list of features you need to have, get a plan of what school districts you'd like to live in, and start working on your budget. A good principle to go by is that your mortgage payment should be 30 percent of your monthly income.
Step 2 – Get with a real estate agent in Chesterfield
This is where RE/MAX Suburban comes in. I'd love to set up 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 future plans. We'll discuss neighborhoods, school districts in the Chesterfield area, the mortgage and housing industries, and any other economic factors that could potentially affect your buying decision today or in the future.
I can also assist you with getting started on your loan. There are some great mortgage professionals in Chesterfield, and I partner with a lot of them, so you'll be in great hands. They will help you choose which type of loan is best for you, as well as help you get approved.
Step 3 – Start house hunting
After our first meeting, I'll begin searching for available homes on the market that are a good fit for you. I'll get a sneak peek of most of the houses and ignore the duds, and then we'll book appointments to view the houses whenever it's most convenient for you.
When we view homes, I'll identify good features and bad ones. I'll even ask you to talk about things you like and don't like. It's widely common for buyers to revise their list of must-haves as we tour houses and some items become more necessary than others. If that's the case, I'll look through the listings another time and trim it down to the home you've been wishing for.
Step 4 – Know the market
My understanding of the Chesterfield home market is a necessary resource in your house search. I'm familiar with all the school districts and neighborhoods, and I can let you know some neighborhoods are "hot" and require immediate action and the others that are "cold" and allow for careful consideration.
When we tour houses, I'll be sure to tell you if the seller's list price has room for bargaining or if I believe the house is "priced to sell." When working with an agent, be on guard and be sure to ask lots of questions, as every real estate agent in Chesterfield will convince you they comprehend the housing market. If it seems like they don't know everything, just call me at 636-812-4400 or e-mail me at email@example.com, and I'd be happy to answer any questions you might have. My market knowledge will help you stay a step above the rest throughout the entire deal.
Step 5 – Find the home you've been looking for
I'm certain we'll find your dream house in the Chesterfield area. When that happens, I'll carefully develop your real estate purchase offer. The offer will be tailored exactly to your needs, including many contingencies. A few examples are getting financing, carrying out the home inspection, and a clean title.
Upon submitting your purchase offer, you'll need to submit "earnest money." This is a cash deposit made to a seller to secure the offer to purchase the property and is often applied to the closing costs. If the offer is accepted, we should close on the home within 30 to 60 days after. This allows necessary time for your mortgage financing.
Step 6 – Negotiate
Unfortunately most contracts aren't closed on the beginning offer – it's really common to receive a counter offer. Don't let it alarm you. We'll talk about whether or not to consent to the counter offer, propose our own counter offer, or reject the seller's offer and move on.
How aggressively we negotiate the contract depends on market circumstances. We'll also work within your financing constraints. And when it's all said and done, we'll put together a deal that's best for you.
Step 7 – Get financing
Upon finalizing the contract, you'll begin working with your mortgage lender to close the loan. If you've been pre-qualified, it won't take much time at all, but you need to stay in close contact with your lender. And I'll care for all the property information your mortgage lender will need to close the loan.>
Step 8 – Close the deal
You'll get a Good Faith Estimate (GFE) detailing your closing costs from your lender within three days of taking your application. The estimate is based on the loan amount, and RESPA requirements order that it has to include all closing costs and be within a close range of accuracy. I'll study the estimate and let you know if it all looks okay.
Then we'll close on your home. This should take place at a title company or escrow office and will probably be a smooth and relaxing occurrence.
Step 9 – Move in
Congratulations! It's time to move into your new home. Enjoy it. And if you have any questions, make sure you contact me at 636-812-4400 or send me an e-mail.