Purchasing a home in Fort Worth
With a little planning ahead of time, buying a home isn't too difficult, but the event intimidates many people.
So they'll know exactly what they can expect, I will furnish buyers with a road map of the entire deal.
Below are my nine steps to buying a home.
When you're ready to get started, just contact me here or e-mail me at . I'm glad to address any questions you have regarding this information.
Step 1 – Get ready to buy a home
There are many things you need to take into account before beginning your home search.
You'll probably want to form a list of must-haves, get a feel for what school districts you want to live in, and begin working on your budget.
Keeping your mortgage payment less than or close to 1/3 of your net monthly income is a good rule of thumb to go by.
Step 2 – Talk to a real estate agent in Fort Worth
This is where I come in.
I'd love to arrange a time to meet with you and speak with you regarding your real estate needs and get an idea of your plans for the future.
We'll discuss neighborhoods, schools in the Fort Worth 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 start the loan process.
There are some great mortgage professionals in Fort Worth, and I partner 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 – Begin house hunting
After our first meeting, I'll start looking for houses on the market that suit your needs.
I'll get a sneak peek of many of the homes and eliminate the duds, and then we'll schedule appointments to view the homes whenever it's convenient for you.
As we view the homes, I'll identify good features, as well as bad ones. I'll also ask you to talk about things you like and don't like.
Oftentimes, buyers change their wish list as we view houses and some items become far more essential than others.
If that's the case, I'll go back through all the listings again and trim it down to the house you've been wishing for.
Step 4 – Get a grasp of the housing market
My awareness of the Fort Worth housing market is a leading agent in your home search. I'm familiar with all the school districts and neighborhoods, and I can let you know what areas are "hot" and warrant prompt action and others that are "cold" and allow for thoughtful examination.
When we view homes, I'll let you know if the seller's asking price has room for negotiation or if I believe the house is "priced to sell."
When working with an agent, be mindful and be sure to ask plenty of questions. Any REALTOR will tell you they comprehend the market.
If it doesn't seem like they know everything, just call me at (682) 667-5556 or e-mail me at , and I'll be glad to answer any questions you may have. My understanding of the market will help you stay a step above the rest throughout the entire deal.
Step 5 – Find the house of your dreams
I'm sure we'll find the home of your dreams in the Fort Worth area. When that happens, I'll carefully develop your real estate purchase offer. The offer will be tailored to suit your needs and the home, including some contingencies. A few examples are obtaining financing, carrying out the inspection, and a clear title.
Upon turning in your purchase offer, you'll want to present "earnest money." This is a cash deposit made to a seller to secure an offer to buy the property, and it's typically applied to the closing costs. If the seller accepts your offer, we should close within 30 to 60 days after. This allows necessary time for your mortgage financing.
Step 6 – Negotiate the deal
Unfortunately most deals don't close on the beginning offer, and it's extremely common to receive a counter offer. But don't let this discourage you. We'll talk about whether or not to take the counter offer, submit our own counter offer, or decline the seller's offer and move on.
Market conditions determine how aggressively we negotiate the deal.
We'll also work within your budget. And at the end of the day, we'll create a contract that's best for you.
Step 7 – Secure your loan
After the deal is finished, you'll start working with your mortgage lender to close the loan.
If you're already pre-approved, it shouldn't take long at all, but you need to stay in close contact with your mortgage lender.
And I'll sort out all the property information your lender will need to close the loan.
Step 8 – Close the deal
Your lender will supply you with a Loan Estimate (LE) of your closing costs within three days of receiving your application. You'll get a Loan Estimate (LE) detailing your closing costs from your lender within three days of getting your application.
This estimate is formed from the loan amount. RESPA requirements dictate that it has to contain all closing costs and fall within a close range of accuracy, and I'll study the estimate and let you know if everything looks permissible.
Then we'll close on your home. This will most likely take place at a title company or escrow office and will most often be a smooth and pleasant 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, simply call me at (682) 667-5556 or e-mail me at .