Are you purchasing a new home in Katy?
Purchasing a home is stressful for a lot of people. However, with a little planning ahead of time, it's not very confusing.
So they know exactly what to expect, I'll furnish buyers with an outline of the whole deal.
These 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 glad to answer questions you have regarding this information.
Step 1 – Prepare to buy
Before you begin searching for a home, there are several things you'll want to contemplate.
You'll want to assemble a check list of items you want to have, get a feeling for what school districts you want to live in, and start planning around your budget.
A good guideline to follow is that your mortgage payment should be less than 30 percent of your net monthly income.
Step 2 – Communicate with a real estate agent
This is where Jenny S. Becker - Realtor, ABR, CNE comes in.
I'd like to book a time to get together with you and talk about why you want to buy a home and get an idea of your upcoming plans.
We'll discuss neighborhoods, schools in the Katy area, the mortgage and housing industries, and any other economic factors that could affect your purchase today or in the future.
I can also help you get started on your loan.
I work with some of the best mortgage professionals in Katy, so you'll be in great hands.
They can help you determine which kind of loan is best for you, as well as help you get qualified.
Step 3 – Begin looking for a home
After we meet, I'll start looking for homes on the market that best suit you.
I'll get a sneak peek of most of the homes and ignore the bad ones, and then we'll schedule appointments to tour the houses when it's most convenient for you.
When we tour houses, I'll point out good features, as well as bad ones. I'll also ask you what things you like and don't like.
Most often, buyers revise their must-have list as we tour houses and some things become more essential than others.
If that's the situation, I'll look through the listings again and trim it down to the house you've been dreaming about.
Step 4 – Know the housing market
My understanding of the Katy housing market is a necessary agent in your home search. I am conscious of all the school districts and neighborhoods, and I will communicate which districts are "hot" and warrant immediate action and others that are "cold" and allow for more consideration.
As we view houses, I'll let you know when the seller's asking price has room for negotiation and also when I know the home is "priced to sell."
Every real estate agent will convince you they truly understand the home market, but beware, and be sure to ask lots of questions.
If it seems like they don't know everything, call me at (832) 594-1265 or e-mail me at , and I'd be more than happy to answer any questions you may have. My understanding of the market will keep you a step ahead through the entire process.
Step 5 – Find the home of your dreams
We'll find the house of your dreams in the Katy area, and when we do, I'll precisely develop your home purchase offer. The offer will be tailored keeping your needs in mind and the home, including many contingencies. A few examples are getting financing, carrying out the inspection, and a clean title.
When presenting your purchase offer, you'll want to present "earnest money." This is a cash deposit submitted to a seller to secure an offer to purchase the property, and it's usually applied to the closing costs. If your offer is accepted by the seller, we should close on the home about 30 to 60 days afterward. This allows necessary time for your mortgage financing.
Step 6 – Negotiate
A lot of contracts aren't closed on the first offer – it's widely common to receive a counter offer. But don't let it alarm you. We'll talk about whether or not to take the counter offer, propose our own counter offer, or decline the seller's offer and go on.
The state of the market will play a vital role in how aggressively we negotiate the contract.
We'll also work within your budget. And when it's all said and done, we'll formulate a contract that works well for you.
Step 7 – Secure your loan
After we sign the final contract, you'll begin working with your lender to close the loan.
If you've been pre-approved, this shouldn't take long at all. But you'll need to keep in close contact with your lender.
And I'll deal with 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) outlining your closing costs within three days of accepting your loan application. You'll get a Loan Estimate (LE) of closing costs from your mortgage lender within three days of receiving your loan application.
The estimate is formed from the loan amount, and RESPA requirements require that it has to involve all closing costs and fall within a narrow range of accuracy. I'll review the estimate and let you know if everything looks all right.
Then we'll close on your home. This will likely take place at a title company or escrow office and will most likely be a smooth and pleasant occasion.
Step 9 – Move in
Congratulations! It's time to move into your new house. Enjoy it. And if you have any questions, make sure you contact me at (832) 594-1265 or e-mail me at .