Are you buying your new home in Jupiter? Carole Maddox Realty can help.
For a lot of people, buying a home can be a stressful event. However, with a bit of up-front planning, it isn't all that confusing.
I like to furnish buyers with a road map of the entire deal so they know exactly what they can expect.
Below are my nine steps to buying a home.
When you're ready to get started, simply contact me here or e-mail me at . I'm happy to address any questions you have about this information.
Step 1 – Get ready to purchase
There are a lot of things you'll want to take into account prior to commencing your home search.
You'll want to make an outline of items you need, plan for what school districts you want to live in, and begin working on your budget.
A good rule to go by is that your mortgage payment should be less than 1/3 of your monthly income.
Step 2 – Contact a real estate agent in Jupiter
This is where Carole Maddox Realty can help.
I'd love to schedule a time to meet with you and communicate with you about why you want to buy a home and get an idea of your plans for the future.
We'll talk about the mortgage and housing industries, other economic factors that may affect your purchase today or in the future, as well as neighborhoods and school districts in the Jupiter area.
I'll also help you begin the loan process.
There are some very good mortgage professionals in Jupiter, and I partner with a lot of them, so you'll be in great hands.
They'll help you decide which kind of loan is best for you, as well as help you get approved.
Step 3 – Start your search
After our first meeting, I'll begin looking for available homes on the market that are a great fit for you.
I'll preview many of the houses and remove the duds, and then we'll schedule appointments to tour the houses whenever it's most convenient for you.
When we view homes, I'll point out good features, as well as negative ones. I'll also ask you to talk about things you like and dislike.
It's pretty common for buyers to update their must-have list as we tour homes and some things become far more substantial than others.
If such is the case, I'll go back through all the listings another time and trim it down to the house you've been waiting for.
Step 4 – Know the market
Your agent's understanding of the Jupiter home market is an essential factor in your house search. And I can assure you I'm conscious of all the schools and neighborhoods, and I'll let you know which areas are "hot" and demand immediate action and the ones that are "cold" and allow for more consideration.
As we tour homes, I'll make sure to communicate when the seller's list price has room for bargaining and also when I believe the house is "priced to sell."
When working with an agent, be careful and make sure you ask plenty of questions, as every REALTOR in Jupiter will convince you they truly know the home market.
If it appears they don't know everything, call me at 5612628034 or e-mail me at , and I'd be happy to answer any questions you have. My market knowledge will help you stay a step above the rest through the entire process.
Step 5 – Find the home you've been waiting for
We'll find the home of your dreams in Jupiter, and when that happens, I'll precisely create your real estate purchase offer. The offer will be tailored keeping your needs in mind and the home, including some contingencies, such as getting financing, finishing the inspection, and a clear title.
When submitting your offer, you'll want to submit "earnest money." This is a cash deposit submitted to a home seller to secure the offer to buy the property, and it's most often put towards the cost of closing. If your offer is accepted, we should close about 30 to 60 days afterward. This allows ample time for your mortgage financing.
Step 6 – Negotiate the deal
A lot of deals don't close on the initial offer – it's pretty common to receive a counter offer. Don't let it discourage you. We'll talk about whether or not to accept the counter offer, submit our own counter offer, or decline the seller's offer and move on.
How aggressively we negotiate the deal depends on market conditions.
We'll also work within your budget. And when it's all said and done, we'll create a deal that's best for you.
Step 7 – Obtain financing
After we sign the final contract, you'll start working with your mortgage lender to close the loan.
If you've been pre-qualified, this won't take long at all. However, you need to stay in close contact with your lender.
And I'll deal with all the property information your lender will need to close the loan.
Step 8 – Close the deal
Your mortgage lender will supply you with a Loan Estimate (LE) detailing closing costs within three days of getting your application. You'll get a Loan Estimate (LE) outlining closing costs from your mortgage lender within three days of taking your application.
This estimate depends on the loan amount, and RESPA requirements require that it has to involve all closing costs and fall within a precise range of accuracy. I'll analyze the estimate and let you know if everything looks adequate.
Then we'll close on your house. This will likely happen at a title company or escrow office and should be a smooth and comfortable event.
Step 9 – Move in
Congratulations! It's time to move into your new home. Enjoy it. And if you have any questions, be sure to call me at 5612628034 or e-mail me at .