Purchasing a new home in Fort Worth with DFW Skyline Realty
Buying a home is an intimidating event for a lot of people. However, with a little up-front planning, it's not too hard.
So they know exactly what to expect, I like to provide buyers with an overview of the whole deal.
These are my nine steps to purchasing a home.
When you're ready to get started, just contact me here or e-mail me at . I'm glad to answer any questions you have regarding this information.
Step 1 – Prepare to purchase
There are a lot of things you'll want to contemplate prior to starting your home search.
It's likely that you'll want to create an index of items you need to have, plan for what neighborhoods you want to live in, and start planning your budget.
Keeping your mortgage payment less than or close to a third of your monthly income is a good rule of thumb to adhere to.
Step 2 – Talk to a real estate agent in Fort Worth
This is where DFW Skyline Realty can help.
We'll arrange a time to get together so we can talk about your real estate needs and get an idea of your future plans.
We'll talk about neighborhoods, schools in the Fort Worth area, the mortgage and housing industries, and any additional economic factors that may affect your buying decision today or in the future.
I can also help you get started on your loan.
There are some excellent mortgage professionals in Fort Worth, and I partner with a lot of them, so you're in great hands.
They will help you decide which kind of loan is best for you, as well as help you get approved.
Step 3 – Begin looking for a house
After our first meeting, I'll begin looking for houses on the market that are a great fit for you.
I'll preview most of the homes and ignore the bad ones, and then we'll schedule appointments to view the houses at a time that's convenient for you.
As we view houses, I'll call attention to good features and bad ones. And I'll ask you to tell us about things you like and dislike.
Generally, buyers revise their must-have list as we view homes and some items become more substantial than others.
If that happens, I'll go back through the listings once again and trim it down to the house you've been waiting for.
Step 4 – Comprehend the market
My knowledge of the Fort Worth housing market is a leading factor in your house search. I'm conscious of all the neighborhoods and school districts, and I will alert you to some districts are "hot" and demand immediate action and others that are "cold" and allow for more analysis.
As we view houses, I'll make sure to communicate if the seller's asking price has room for negotiation or if I believe the home is "priced to sell."
When working with an agent, be mindful and make sure you ask a lot of questions. Every REALTOR will claim to truly understand the home market.
If it seems like they don't know everything, just call me at (682) 667-5556 or e-mail me at , and I'll be happy to answer any questions you might have. My understanding of the market will help you stay a step ahead through the entire process.
Step 5 – Find the house you've been looking for
I'm positive we'll find your dream home in the Fort Worth area. When we do, I'll carefully create your home purchase offer. The offer will be tailored with your needs in mind and the home, including several contingencies. A few examples are acquiring financing, carrying out the inspection, and a clean title.
When submitting your purchase offer, you'll want to present "earnest money." This is a cash deposit given to a home seller to secure the offer to purchase the property, and it's typically applied to the closing costs. If the offer is accepted by the seller, we should close within 30 to 60 days afterward. This allows sufficient time for your mortgage financing.
Step 6 – Negotiate the deal
Most contracts aren't closed on the beginning offer – it's extremely common to receive a counter offer. Don't let it alarm you. We'll talk about whether or not to accept the counter offer, submit our own counter offer, or decline the seller's offer and go on.
How aggressively we negotiate the contract depends on the state of the market.
In addition, we'll work within your financing budget. And at the end of the day, we'll formulate a deal that works well for you.
Step 7 – Obtain a loan
Once the deal is finished, you'll begin working with your mortgage lender to close the loan.
If you're pre-qualified, it shouldn't take very long at all, but you'll need to keep in close contact with your lender.
And I'll manage all the property information your mortgage lender will need to close the loan.
Step 8 – Close the deal
You'll get a Loan Estimate (LE) detailing your closing costs from your lender within three days of receiving your application.
This estimate rests on the loan amount, and RESPA requirements mandate that it has to include all closing costs and be within a tight range of accuracy. I'll go over the estimate and let you know if everything looks permissible.
Then we'll close on your house. This will most often happen at a title company or escrow office and will probably be a smooth and hassle-free occasion.
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, be sure to call me at (682) 667-5556 or e-mail me at .