Contemplating buying a new home in Fort Worth?
For many people, buying a home can be an intimidating event. But with some planning ahead of time, it's not all that hard.
So they'll understand exactly what to expect, I like to supply 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, you can contact me here or e-mail me at . I'm happy to address questions you have about this information.
Step 1 – Prepare to buy
Before you begin searching for a home, there are several things you should consider.
When you begin your search, you'll want to make a checklist of features you want to have, get a feeling for what neighborhoods and school districts you want to live in, and start working on your budget.
Keeping your mortgage payment less than or around 30 percent of your monthly income is a good principle to follow.
Step 2 – Speak with a real estate agent
That's where I can help.
We can arrange a time to get together so we can talk about why you want to buy a home and get an idea of your upcoming plans.
We'll talk about everything from neighborhoods, schools in the Fort Worth area, the mortgage and housing industries, to any other economic factors that could affect your buying decision today or in the future.
I'll also help you facilitate the loan process.
There are some excellent mortgage professionals in Fort Worth, and I partner with a lot of them, so you can rest assured that you're in great hands.
They'll help you decide which type of loan is best for you, as well as help you get qualified.
Step 3 – Begin house hunting
After we meet, I'll start finding homes on the market that best suit you.
I'll get a sneak peek of many of the houses and ignore the duds, and then we'll set up appointments to view the homes when it's convenient for you.
When we tour houses, I'll identify good features, as well as bad ones. I'll also ask you to tell us about things you like and dislike.
It's pretty common for buyers to revise their wish list as we view homes and some items become far more necessary than others.
If that's the situation, I'll look through the listings once again and narrow it down to the house you've been dreaming about.
Step 4 – Comprehend the housing market
Your agent's understanding of the Fort Worth housing market is a crucial agent in your house search. And I can assure you I'm conscious of all the neighborhoods and schools, and I'll communicate which areas are "hot" and require prompt action and the ones that are "cool" and allow for thoughtful analysis.
As we view houses, I'll make sure to communicate when the seller's asking price has room for bargaining and when I know the house is "priced to sell."
When working with an agent, trust your instincts and make sure you ask plenty of questions. Every real estate agent in Fort Worth will claim to truly know the market.
If things don't add up, call me at (682) 667-5556 or e-mail me at , and I'd be more than happy to answer any questions you have. My market expertise will keep you a step ahead through the entire deal.
Step 5 – Find your dream home
I'm sure we'll find the home of your dreams in the Fort Worth area. When that happens, I'll precisely create your home purchase offer. The offer will be made to fit your needs and the home. We'll include several contingencies, such as acquiring financing, completing the home inspection, and a clean title.
When sending in your offer, most likely you'll want to present "earnest money." This is a cash deposit submitted to the home seller to secure the offer to purchase the property. The amount is most often put towards the cost of closing. If the seller accepts the offer, we should close on the property about 30 to 60 days after. This allows plenty of time for your mortgage financing.
Step 6 – Negotiate
A lot of contracts aren't closed on the initial offer, and it's pretty common to receive a counter offer. But don't let it intimidate you. We'll discuss whether or not to consent to the counter offer, present our own counter offer, or reject the seller's offer and move on.
The state of the market determines how aggressively we negotiate the contract.
We'll also work within your financing constraints. And when it's all said and done, we'll formulate a contract that works well for you.
Step 7 – Secure a loan
After the contract is finalized, you'll start working with your lender to close the loan.
This won't take very long at all if you're already pre-qualified, but you need to keep in close contact with your lender.
And I'll look after all the property information your mortgage lender will need to close the loan.
Step 8 – Close the deal
Your mortgage lender will provide you with a Loan Estimate (LE) of closing costs within three days of accepting your loan application. You'll get a Loan Estimate (LE) of your closing costs from your lender within three days of receiving your application.
The estimate depends on the loan amount, and RESPA requirements mandate that it has to contain all closing costs and fall within a strict range of accuracy. I'll examine the estimate and let you know if it all looks permissible.
Then we'll close on your house. This will likely take place at a title company or escrow office and will most often be a smooth and peaceful event.
Step 9 – Move in
Congratulations! It's time to move into your new house. Enjoy it. And if you have any questions, be sure to call me at (682) 667-5556 or e-mail me at .