Contemplating buying a new home in New Port Richey?Buying a home is stressful for many people. However, with a bit of planning ahead of time, it's not all that complicated. So you know exactly what to expect, I like to give my buyers a road map of the entire deal. These are my nine steps to purchasing a home.
|When you're ready to get started, simply contact me here or send e-mail to Joe@gulfharborswaterfronthomes.com. I'm happy to address any questions you have regarding this information.|
Step 1 – Get ready to buy
There are several things you should contemplate prior to beginning your home search. It's likely that you'll want to assemble an index of items you want, get a plan of what school districts you'd like to live in, and begin working on your budget. Ensuring your mortgage payment is around 30 percent of your net monthly income is a good principle to follow.
Step 2 – Contact a real estate agent in New Port Richey
That's where I come in. I'd be more than happy to schedule 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 the mortgage and housing industries, other economic factors that may potentially affect your purchase today or in the future, as well as neighborhoods and schools in the New Port Richey area.
I'll also help you begin the loan process. There are some excellent mortgage professionals in New Port Richey, and I partner with a lot of them, so you can rest assured that you're in great hands. They will assist you in deciding which kind of loan is best for you and help you get qualified.
Step 3 – Begin house-hunting
After we meet, I'll begin looking for available homes on the market that meet your needs. I'll research many of the houses and eliminate the duds, and then we'll schedule appointments to tour the houses when it's most convenient for you.
As we tour the houses, I'll identify good features, as well as bad ones. I'll even ask you to talk about things you like and don't like. It's widely common for buyers to update their list of must-haves as we view houses and some features become far more substantial than others. If that's the case, I'll search the listings once again and trim it down to the house you've been dreaming about.
Step 4 – Know the housing market
An agent's understanding of the New Port Richey home market is a necessary aspect in your house search. And I assure you I'm acquainted with all the school districts and neighborhoods, and I will communicate what neighborhoods are "hot" and demand immediate action and the ones that are "cold" and allow for more examination.
When we view homes, I'll let you know when the seller's asking price has room for negotiation and also when I believe the home is "priced to sell." When working with an agent, be mindful and make sure you ask a lot of questions, as every REALTOR® will tell you they truly understand the housing market. If things don't add up, just call me at 727-841-9191 or e-mail me at Joe@gulfharborswaterfronthomes.com, and I'd be more than happy to answer your questions. My understanding of the market will help you stay a step ahead throughout the entire process.
Step 5 – Find the house you've been waiting for
I'm sure we'll find your dream home in New Port Richey. When we do, I'll meticulously develop your real estate purchase offer. The offer will be tailored exactly to your needs, including many contingencies, such as obtaining financing, finishing the inspection, and a clear title.
Upon presenting your offer, you'll want to present "earnest money." This is a cash deposit given to a home seller to secure an offer to buy the property. The amount is most often put towards the cost of closing. If your offer is accepted, we should close on the home about 30 to 60 days after. This allows enough time for your mortgage financing.
Step 6 – Negotiate the deal
A lot of deals don't close on the initial offer, and it's really common to receive a counter offer. Don't let it intimidate you. We'll talk about whether or not to consent to the counter offer, present our own counter offer, or reject the seller's offer and move on.
How aggressively we negotiate the deal depends on market circumstances. We'll also work within your financing constraints. And at the end of the day, we'll create a contract that's best for you.
Step 7 – Obtain financing
After the contract is finalized, you'll begin working with your lender to close the loan. It won't take very long at all if you've been pre-approved, but you need to stay in close contact with your lender. And I'll manage all the property information your lender will need to close the loan.
Step 8 – Close the deal
Your lender will furnish you with a Good Faith Estimate (GFE) of your closing costs within three days of accepting your loan application. You'll get a Good Faith Estimate (GFE) outlining closing costs from your mortgage lender within three days of receiving your application. The estimate is based on the loan amount, and RESPA requirements mandate that it has to involve all closing costs and fall within a strict range of accuracy. I'll go over the estimate and let you know if it all looks good.
Then it's time to close on your home. This will most likely occur at a title company or escrow office and should be a smooth and calm affair.
Step 9 – Move in
Congratulations! Now you can move into your new house. Enjoy it. And if you have any questions, be sure to call me at 727-841-9191 or send me an e-mail.