Are you contemplating purchasing your new home in Katy? Jenny S. Becker - Realtor can help.
Purchasing a home intimidates most people. However, with some up-front planning, it isn't that difficult.
So they'll know exactly what to expect, I'll furnish buyers with an overview of the entire deal.
Below are my nine steps to purchasing a home.
When you're ready to get started, simply contact me here or e-mail me at . I'm glad to answer any questions you have about this information.
Step 1 – Prepare to purchase a home
Prior to starting your home search, there are a lot of things you'll want to consider.
When you begin your search, you'll want to create a check list of must-haves, get an idea of what school districts you'd like to live in, and start planning around your budget.
Keeping your mortgage payment less than or around 1/3 of your monthly income is a good rule to follow.
Step 2 – Connect with a real estate agent
This is where I can help.
I'd be more than happy to book a time to meet with you and speak with you regarding why you want to buy a home and get an idea of your plans for the future.
We'll talk about neighborhoods, school districts in the Katy 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 Katy, and I partner with a lot of them, so you'll be in great hands.
They will assist you in choosing which kind of loan is best for you and help you get qualified.
Step 3 – Begin looking
After our initial meeting, I'll start finding houses on the market that suit your needs.
I'll preview many of the homes and reject the duds, and then we'll set up appointments to tour the houses at a time that's convenient for you.
As we tour homes, I'll identify good features and negative ones. I'll also ask you to point out what things you like and dislike.
As a rule, buyers amend their wish list as we tour houses and some features become far more crucial than others.
If that happens, I'll search all the listings once more and narrow it down to the house you've been wishing for.
Step 4 – Understand the market
My understanding of the Katy home market is a fundamental aspect in your house search. I am informed of all the neighborhoods and schools, and I will let you know which areas are "hot" and call for prompt action and others that are "cool" and allow for thoughtful examination.
As we view homes, I'll be sure to tell you if the asking price has room for negotiation or if I believe the house is "priced to sell."
When working with an agent, be on guard and be sure to ask a lot of questions. Any REALTOR in Katy will claim to understand the housing market.
If it seems like they don't know everything, contact me at (832) 594-1265 or e-mail me at , and I'll be more than happy to answer any questions you may have. My knowledge of the market will help you stay a step ahead throughout the entire process.
Step 5 – Find the house you've been looking for
We'll find your dream home in Katy, and when that happens, I'll precisely create your purchase offer. The offer will be tailored keeping your needs in mind and the home, including some contingencies. A few examples are obtaining financing, completing the inspection, and a clear title.
When we present your offer, you'll probably want to present "earnest money." This is a cash deposit given to the seller to secure the offer to buy the property, and it's most often applied to the closing costs. If your offer is accepted, we should close on the home about 30 to 60 days after. This allows ample time for your mortgage financing.
Step 6 – Negotiate
Unfortunately most deals don't close on the beginning offer – it's extremely common to receive a counter offer. Don't let it intimidate you. We'll figure out whether or not to accept the counter offer, submit our own counter offer, or decline the seller's offer and go on.
Market circumstances will play a big part in how aggressively we negotiate the deal.
In addition, we'll work within your financing constraints. And when it's all said and done, we'll compose a contract that is best for you.
Step 7 – Obtain financing
After we sign the final sales contract, you'll begin working with your mortgage lender to close the loan.
If you're already pre-qualified, it shouldn't take very long at all. However, you need to stay 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
Your lender will provide you with a Loan Estimate (LE) detailing closing costs within three days of getting your application. You'll get a Loan Estimate (LE) detailing closing costs from your mortgage lender within three days of taking your loan application.
This estimate is based on 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 it's time to close on your house. This will most often take place at a title company or escrow office and will likely be a smooth and calm affair.
Step 9 – Move in
Congratulations! It's time to move into your new house. Enjoy it. And if you need anything, be sure to call me at (832) 594-1265 or e-mail me at .