Are you contemplating buying a new home in Southwest Florida?
With a little up-front planning, buying a home isn't very hard, but it still is stressful for many people.
We like to provide buyers with an outline of the whole deal so they'll understand exactly what they can expect.
Below are our nine steps to purchasing a home.
Step 1 – Prepare to purchase
There are many things you'll want to consider before beginning your home search.
When you start your search, you'll probably want to form a list of features you want to have, get a feeling for what school districts and neighborhoods you'd like to live in, and start working on your budget.
A good principle to adhere to is that your mortgage payment should be less than 30 percent of your monthly income.
Step 2 – Get with a real estate agent
That's where we 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 upcoming plans.
We'll talk about the mortgage industry, other economic factors that could affect your purchase today or in the future, as well as neighborhoods and school districts in the Southwest Florida area.
We'll also help you facilitate the loan process.
The McGuire Group partners with some of the finest mortgage professionals in Southwest Florida, so you can rest assured that you're in great hands.
They will help you figure out which kind of loan is best for you, as well as help you get approved.
Step 3 – Begin looking for a house
After our initial meeting, we'll start finding houses on the market that best suit you.
We'll preview many of the houses and eliminate the bad ones, and then we'll set up appointments to tour the houses when it's most convenient for you.
When we tour houses, we'll call attention to good features, as well as bad ones. we'll even ask you about things you like and dislike.
For the most part, buyers amend their wish list as we view homes and some features become far more important than others.
If such is the case, we'll look through the listings once again and narrow it down to the house you've been dreaming about.
Step 4 – Know the market
Your agent's knowledge of the Southwest Florida housing market is an essential factor in your home search. And we can assure you we're well acquainted with all the neighborhoods and school districts, and we will let you know certain areas are "hot" and call for immediate action and the others that are "cool" and allow for thoughtful consideration.
When we tour houses, we'll let you know when the list price has room for negotiation and when we believe the house is "priced to sell."
Every real estate agent in Southwest Florida will convince you they comprehend the home market, but be on guard, and make sure you ask your agent a lot of questions.
If things don't add up, contact us at 941-702-HOME (4663) or e-mail us at firstname.lastname@example.org, and we'd be glad to answer any questions you might have. Our market knowledge will help you stay a step ahead throughout the entire deal.
Step 5 – Find the home you've been looking for
We're certain we'll find the house of your dreams in Southwest Florida. When we do, we'll meticulously develop your real estate purchase offer. The offer will be tailored to suit your needs, including several contingencies, such as obtaining financing, completing the home inspection, and a clear title.
When submitting your offer, most likely you'll need to present "earnest money." This is a cash deposit submitted to a home seller to secure the offer to buy the property. The amount is often applied to the closing costs. If the offer is accepted by the seller, we should close on the property about 30 to 60 days afterward. This allows necessary time for your mortgage financing.
Step 6 – Negotiate the deal
A lot of contracts don't close on the first offer, and it's very common to receive a counter offer. But don't let this intimidate you. We'll talk about whether or not to consent to the counter offer, present our own counter offer, or decline the seller's offer and move on.
The state of the market determines 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 put together a deal that works well for you.
Step 7 – Secure a loan
Once we sign the final sales contract, you'll start working with your mortgage lender to close the loan.
If you're already pre-qualified, it won't be a long process at all, but you'll want to keep in close contact with your mortgage lender.
And we'll sort out all the property information your lender needs to close the loan.>
Step 8 – Close the deal
You'll get a Good Faith Estimate (GFE) detailing your closing costs from your mortgage lender within three days of taking your application.
The estimate is formed from the loan amount. RESPA requirements order that it has to include all closing costs and fall within a strict range of accuracy, and we'll review the estimate and let you know if everything looks permissible.
Then we'll close on your home. This should take place at a title company or escrow office and will most often be a smooth and easygoing event.
Step 9 – Move in
Success! Now you can move into your new home. Enjoy it. And if you need anything, be sure to call us at 941-702-HOME (4663) or send us an e-mail.