Are you contemplating buying your new home in Cape Coral?
Purchasing a home is a stressful event for many people. However, with a bit of up-front planning, it's not very complicated.
I like to furnish buyers with a road map of the whole deal so they understand exactly what they can expect.
These are my nine steps to buying a home.
When you're ready to get started, just contact me here or send me e-mail
. I'm glad to address questions you have about this information.
Step 1 – Prepare to purchase a home
There are a lot of things you'll want to take into account before you start searching for a home.
You'll most likely want to create a list of features you need to have, plan for what school districts you'd like to live in, and start working on your budget.
Ensuring your mortgage payment is no more than a third of your monthly income is a good rule of thumb to follow.
Step 2 – Talk to a real estate agent
This is where Pearsall Properties Inc. comes in.
I can schedule a time to get together so we can talk about your real estate needs and get an idea of your upcoming plans.
We'll talk about everything from neighborhoods, schools in the Cape Coral area, the mortgage industry, to any other economic factors that might affect your buying decision today or in the future.
In addition, I'll assist you with getting started on your loan.
There are some excellent mortgage professionals in Cape Coral, and I work with a lot of them, so you can rest assured that you're in great hands.
They'll assist you in deciding which type of loan is best for you and help you get qualified.
Step 3 – Start house hunting
After we meet, I'll start looking for homes on the market that are great for you.
I'll research most of the homes and throw out the duds, and then we'll set up appointments to tour the houses at a time that's convenient for you.
As we view homes, I'll show you the positive features and negative ones. I'll even ask you to point out what things you like and don't like.
Frequently, buyers revise their list of must-haves as we view homes and some items become far more substantial than others.
If that happens, I'll search all the listings again and trim it down to the house of your dreams.
Step 4 – Know the market
Your agent's awareness of the Cape Coral housing market is a leading factor in your house search. And I assure you I'm acquainted with all the schools and neighborhoods, and I'll alert you to what neighborhoods are "hot" and call for immediate action and the rest that are "cold" and allow for more analysis.
When we tour houses, I'll let you know when the seller's asking price has room for bargaining and when I think the home is "priced to sell."
Every real estate agent in Cape Coral will convince you they comprehend the home market, but be on guard, and be sure to ask plenty of questions.
If it seems like they don't know everything, just call me at (239) 458-5566 or e-mail me at email@example.com, and I'll be more than happy to answer any questions you might have. My market expertise will keep you a step ahead through the entire deal.
Step 5 – Find your dream house
I'm confident we'll find the house of your dreams in the Cape Coral area. When that happens, I'll thoroughly create your home purchase offer. The offer will be tailored to suit your needs, including many contingencies. A few examples are obtaining financing, finishing the home inspection, and a clean title.
When we submit your purchase offer, you'll need to present "earnest money." This is a cash deposit given to a seller to secure the offer to purchase the property and is most often applied to the closing costs. If the offer is accepted, we should close on the home within 30 to 60 days afterward. This allows sufficient time for your mortgage financing.
Step 6 – Negotiate the deal
A lot of deals aren't closed on the beginning offer. It's pretty common to receive a counter offer. Don't let this alarm you. We'll consider whether or not to accept the counter offer, propose our own counter offer, or refuse the seller's offer and go on.
Market conditions determine how aggressively we negotiate the contract.
We'll also work within your budget. And at the end of the day, we'll assemble a deal that's best for you.
Step 7 – Obtain a loan
Upon completing the contract, you'll begin working with your lender to close the loan.
If you're already pre-qualified, it shouldn't take very long at all, but you need to keep in close contact with your mortgage lender.
And I'll deal with 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) of your closing costs from your lender within three days of getting your application.
This estimate depends on the loan amount, and RESPA requirements mandate that it has to include all closing costs and be within a close range of accuracy. I'll analyze the estimate and let you know if it all looks good.
Then we'll close on your house. This will most often take place at a title company or escrow office and will most likely be a smooth and relaxing affair.
Step 9 – Move in
Success! Now you can move into your new house. Enjoy it. And if you have any questions, simply contact me at (239) 458-5566 or send me an e-mail.