Buying or selling a home in Fort Worth?
Buying a home is a stressful event for most people, but with a bit of up-front planning, it's not that difficult.
I like to supply buyers with an outline of the whole deal so they'll understand exactly what they can expect.
These are my nine steps to purchasing a home.
Should you have any questions about this information or if you're ready to get started, you can contact me here or e-mail me at .
Step 1 – Get ready to purchase
Before you start searching for a home, there are many things you need to consider.
When you start your search, you'll probably want to make a checklist of must-have features, get a feeling for what neighborhoods and school districts you'd like to live in, and begin working on your budget.
Keeping your mortgage payment less than or around a third of your net monthly income is a good rule of thumb to go by.
Step 2 – Communicate with a real estate agent
This is where I come in.
We can arrange a time to meet so we can talk about your real estate needs and get an idea of your plans for the future.
We'll talk about neighborhoods, school districts in the Fort Worth area, the mortgage industry, and any other economic factors that may potentially affect your buying decision today or in the future.
In addition, I'll assist you with getting started on your loan.
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 looking
After our initial meeting, I'll begin finding houses on the market that are a good fit for you.
I'll research most of the houses and exclude the bad ones, and then we'll book appointments to view the homes whenever it's most convenient for you.
When we view houses, I'll identify positive features and negative ones. I'll also ask you to talk about things you like and don't like.
It's common for buyers to revise their wish list as we tour homes and some features become far more important than others.
If that happens, I'll look through all the listings once more and trim it down to the house you've been dreaming about.
Step 4 – Know the market
Your agent's awareness of the Fort Worth home market is a fundamental element in your house search. And I can assure you I'm informed of all the neighborhoods and schools, and I can alert you to what districts are "hot" and demand immediate action and some that are "cool" and allow for more analysis.
As we view homes, I'll make sure to communicate when the seller's list price has room for bargaining and also when I think the home is "priced to sell."
When working with an agent, be careful and be sure to ask a lot of questions. Any REALTOR will convince you they know the housing market.
If it seems like they don't know everything, call me at (682) 667-5556 or e-mail me at , and I'd be more than happy to answer any questions you might have. My knowledge of the market will help you stay a step ahead throughout the entire deal.
Step 5 – Find the home you've been waiting for
I'm confident we'll find the home of your dreams in Fort Worth. When that happens, I'll meticulously create your home purchase offer. The offer will be tailored to suit your needs and the home, including some contingencies, such as getting financing, finishing the inspection, and a clean title.
Upon submitting your purchase offer, you'll want to present "earnest money." This is a cash deposit given to a seller to secure an offer to purchase the property. The amount is typically put towards the cost of closing. If the seller accepts your 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
Most deals aren't closed on the first offer. It's pretty common to receive a counter offer. But don't let it discourage you. We'll discuss whether or not to take the counter offer, submit our own counter offer, or reject the seller's offer and move on.
The state of the market will play a part in how aggressively we negotiate the deal.
In addition, we'll work within your budget. And at the end of the day, we'll compose a contract that works well for you.
Step 7 – Secure a loan
Upon finishing the deal, you'll start working with your mortgage lender to close the loan.
This shouldn't take much time at all if you're already pre-approved, but you need to keep in close contact with your mortgage lender.
And I'll look after all the property information your lender needs to close the loan.
Step 8 – Close the deal
You'll get a Loan Estimate (LE) of closing costs from your lender within three days of taking your application.
This estimate depends on the loan amount, and RESPA requirements mandate that it has to involve all closing costs and be within a narrow range of accuracy. I'll examine the estimate and let you know if it all looks adequate.
Then it's time to close on your house. This will likely occur at a title company or escrow office and will most often be a smooth and pleasant occurrence.
Step 9 – Move in
Congratulations! Now you can move into your new home. Enjoy it. And if you have any questions, just contact me at (682) 667-5556 or e-mail me at .