Are you purchasing a new home in Katy?
With some up-front planning, purchasing a home isn't all that confusing, but the event is stressful for many people.
So they know exactly what to expect, I'll supply buyers with an overview of the whole deal.
Here are my nine steps to buying a home.
When you're ready to get started, just contact me here or e-mail me at . I'm happy to answer questions you have regarding this information.
Step 1 – Prepare to purchase a home
Before you begin looking for a home, there are plenty of things you should do.
When you begin your search, you'll probably want to form an index of must-haves, get a feel for what neighborhoods and school districts you want to live in, and begin planning around your budget.
Keeping your mortgage payment less than or around 1/3 of your monthly income is a good principle to follow.
Step 2 – Communicate with a real estate agent in Katy
That's 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 discuss neighborhoods, schools in the Katy area, the mortgage and housing industries, and any additional economic factors that could affect your purchase today or in the future.
I'll also help you start the loan process.
Jenny S. Becker - Realtor works with some of the best mortgage professionals in Katy, so you'll be in great hands.
They can assist you with figuring out which type of loan is best for you and help you get approved.
Step 3 – Start your search
After our first meeting, I'll start searching for available houses on the market that are a good fit for you.
I'll preview most of the houses and ignore the bad ones, and then we'll schedule appointments to view the houses whenever it's convenient for you.
As we view the houses, I'll call attention to good features, as well as 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 view houses and some features become far more necessary than others.
If that's the situation, I'll go back through all the listings once again and trim it down to the house of your dreams.
Step 4 – Comprehend the housing market
My knowledge of the Katy housing market is an essential aspect in your home search. I am mindful of all the school districts and neighborhoods, and I can communicate what areas are "hot" and demand immediate action and the ones that are "cold" and allow for careful examination.
When we view houses, I'll let you know when the seller's asking price has room for negotiation and when I think the house is "priced to sell."
When working with an agent, be careful and make sure you ask lots of questions, as any REALTOR will convince you they truly know the market.
If things don't add up, contact me at (832) 594-1265 or e-mail me at , and I'd be happy to answer any questions you have. My understanding of the market will keep you a step above the rest throughout the entire process.
Step 5 – Find the home you've been waiting for
We'll find the house of your dreams in Katy, and when that happens, I'll thoroughly develop your purchase offer. The offer will be tailored exactly to your needs and the home, including many contingencies. A few examples are obtaining financing, carrying out the home inspection, and a clean title.
When submitting your purchase offer, most likely you'll want to present "earnest money." This is a cash deposit submitted to the seller to secure an offer to buy the property and is often applied to the closing costs. If the offer is accepted by the seller, we should close on the home within 30 to 60 days after. This allows plenty of time for your mortgage financing.
Step 6 – Negotiate the deal
A lot of deals don't close on the beginning offer – it's very common to receive a counter offer. But don't let it discourage you. We'll consider whether or not to accept the counter offer, submit our own counter offer, or decline the seller's offer and move on.
Market conditions will play a vital role in how aggressively we negotiate the deal.
We'll also work within your financing constraints. And at the end of the day, we'll create a deal that's best for you.
Step 7 – Secure your loan
Once 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 be a long process at all. However, you'll want to keep in close contact with your lender.
And I'll deal with all the property information your lender needs to close the loan.
Step 8 – Close the deal
You'll get a Loan Estimate (LE) of your closing costs from your mortgage lender within three days of taking your loan application.
This estimate is based on the loan amount, and RESPA requirements order that it has to contain all closing costs and fall within a tight range of accuracy. I'll analyze the estimate and let you know if everything looks permissible.
Then it's time to close on your home. This will most likely take place at a title company or escrow office and will most likely be a smooth and comfortable occasion.
Step 9 – Move in
Congratulations! Now you can move into your new house. Enjoy it. And if you need anything, simply call me at (832) 594-1265 or e-mail me at .