Are you purchasing your new home in Fort Worth? DFW Skyline Realty can help.
Purchasing a home is an intimidating event for many people. However, with a little up-front planning, it isn't all that complex.
So they understand exactly what to expect, I like to provide buyers with an outline of the entire 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 should do prior to beginning your home search.
You'll most likely want to assemble an index of features you want to have, get a feel for what school districts you'd like to live in, and start working on your budget.
A good rule of thumb to adhere to is that your mortgage payment should be around 1/3 of your net monthly income.
Step 2 – Speak with a real estate agent in Fort Worth
This is where DFW Skyline Realty can help.
We can set up a time to meet so we can talk about why you want to buy a home and get an idea of your upcoming plans.
We'll discuss everything from neighborhoods, schools in the Fort Worth area, the mortgage industry, to any other economic factors that could affect your purchase today or in the future.
In addition, I'll help you start the loan process.
There are some great mortgage professionals in Fort Worth, and I work with a lot of them, so you'll be in great hands.
They can assist you with deciding which kind of loan is best for you and help you get approved.
Step 3 – Start your home search
After our first meeting, I'll start looking for houses on the market that are great for you.
I'll get a sneak peek of most of the houses and eliminate the duds, and then we'll book appointments to view the houses at a time that's convenient for you.
As we view houses, I'll call attention to good features, as well as bad ones. And I'll ask you to talk about things you like and dislike.
Generally, buyers revise their list of must-haves as we tour houses and some items become more important than others.
If that's the situation, I'll go back through all the listings another time and narrow it down to the house you've been dreaming about.
Step 4 – Comprehend the housing market
Your agent's knowledge of the Fort Worth market is a leading element in your home search. And I assure you I'm informed of all the neighborhoods and schools, and I will alert you to which neighborhoods are "hot" and warrant prompt action and others that are "cool" and allow for careful examination.
When we view houses, I'll make sure to communicate when the list price has room for bargaining and also when I trust the house is "priced to sell."
When working with an agent, be mindful and be sure to ask a lot of questions, as any real estate agent will tell you they understand the home market.
If things don't add up, contact me at (682) 667-5556 or e-mail me at , and I'd be happy to answer your questions. My knowledge of the market will help you stay a step ahead throughout the entire process.
Step 5 – Find the house you've been waiting for
I'm sure we'll find your dream house in the Fort Worth area. When we do, I'll precisely create your real estate purchase offer. The offer will be made to suit your needs and the home. We'll include some contingencies, such as obtaining financing, completing the home inspection, and a clear title.
When we submit your purchase offer, you'll want to present "earnest money." This is a cash deposit given to the seller to secure the offer to buy the property. The amount is usually put towards the closing costs. If your offer is accepted by the seller, we should close on the home within 30 to 60 days afterward. This allows plenty of time for your mortgage financing.
Step 6 – Negotiate the deal
Unfortunately most contracts don't close on the initial offer – it's very common to receive a counter offer. Don't let it alarm you. We'll consider whether or not to consent to the counter offer, propose our own counter offer, or refuse the seller's offer and go on.
The state of the market determines how aggressively we negotiate the contract.
In addition, we'll work within your financing budget. And when it's all said and done, we'll compose a contract that is best for you.
Step 7 – Get your loan
Upon completion of the deal, you'll start working with your lender to close the loan.
It won't take long at all if you're already pre-qualified, but you'll want to keep in close contact with your mortgage lender.
And I'll sort out all the property information your mortgage lender will need to close the loan.
Step 8 – Close the deal
Your lender will provide you with a Loan Estimate (LE) detailing your closing costs within three days of receiving your loan application. You'll get a Loan Estimate (LE) detailing your closing costs from your mortgage lender within three days of receiving your application.
This estimate is formed from the loan amount, and RESPA requirements order that it has to involve all closing costs and fall within a strict range of accuracy. I'll examine the estimate and let you know if everything looks good.
Then it's time to close on your home. This will probably occur at a title company or escrow office and will likely be a smooth and relaxed occasion.
Step 9 – Move in
Congratulations! It's time to move into your new home. Enjoy it. And if you have any questions, be sure to contact me at (682) 667-5556 or e-mail me at .