Buying or selling a home in West Palm Beach?
With a little up-front planning, buying a home isn't very difficult, but the event is stressful for a lot of people.
I like to give buyers a road map of the entire deal so they know exactly what they can expect.
These are my nine steps to buying a home.
If you have any questions about any of this information or if you're prepared to get started, you can contact me here or e-mail me at .
Step 1 – Prepare to buy a home
Prior to beginning your home search, there are many things you should do.
You'll want to form a list of must-haves, get an idea of what school districts and neighborhoods you want to live in, and begin planning your budget.
A good principle to follow is that your mortgage payment should be less than or close to 1/3 of your net monthly income.
Step 2 – Communicate with a real estate agent
This is where I can help.
I'd like to book a time to get together with you and communicate with you regarding your real estate needs and get an idea of your plans for the future.
We'll talk about everything from neighborhoods, schools in the West Palm Beach area, the mortgage industry, to any other economic factors that could affect your purchase today or in the future.
In addition, I'll help you facilitate the loan process.
J. Briann Realty Group, Inc. partners with some of the finest mortgage professionals in West Palm Beach, so you can rest assured that you're in great hands.
They will help you determine which type of loan is best for you, as well as help you get approved.
Step 3 – Begin your home search
After our initial meeting, I'll start finding homes on the market that are a good fit for you.
I'll preview most of the houses and reject the bad ones, and then we'll book appointments to tour the houses when it's most convenient for you.
As we tour homes, I'll call attention to good features, as well as bad ones. And I'll ask you what things you like and dislike.
It's widely common for buyers to change their must-have list as we view homes and some things become more important than others.
If such is the case, I'll search the listings one more time and narrow it down to the home of your dreams.
Step 4 – Understand the housing market
My understanding of the West Palm Beach market is an imperative element in your home search. I am mindful of all the neighborhoods and schools, and I'll let you know which neighborhoods are "hot" and demand prompt action and the ones that are "cool" and allow for cautiousness.
As we view homes, I'll be sure to tell you when the list price has room for bargaining and also when I trust the home is "priced to sell."
Any REALTOR will claim to understand the home market, but be on guard, and make sure you ask your agent lots of questions.
If it doesn't seem like they know everything, just call me at 561-688-1316 or e-mail me at , and I'll be happy to answer any questions you might have. My knowledge of the market will keep you a step ahead through the entire process.
Step 5 – Find your dream house
I'm certain we'll find your dream home in West Palm Beach. When that happens, I'll precisely develop your home purchase offer. The offer will be tailored keeping your needs in mind and the home, including many contingencies. A few examples are acquiring financing, carrying out the home inspection, and a clear title.
Upon submitting your purchase offer, you'll want to submit "earnest money." This is a cash deposit made to the home seller to secure an offer to purchase the property. The amount is often put towards the closing costs. If your offer is accepted by the seller, we should close within 30 to 60 days afterward. This allows ample time for your mortgage financing.
Step 6 – Negotiate the deal
Unfortunately most contracts don't close on the beginning offer – it's extremely common to receive a counter offer. But don't let this intimidate you. We'll talk over whether or not to consent to the counter offer, submit our own counter offer, or reject the seller's offer and go on.
How aggressively we negotiate the deal depends on market circumstances.
In addition, we'll work within your financing limits. And at the end of the day, we'll create a deal that works well for you.
Step 7 – Get your loan
Once the deal is finished, you'll begin working with your mortgage lender to close the loan.
If you're pre-qualified, it won't take much time at all. However, you should to keep in close contact with your lender.
And I'll sort out all the property information your mortgage lender needs to close the loan.
Step 8 – Close the deal
You'll get a Loan Estimate (LE) detailing closing costs from your lender within three days of receiving your loan application.
The estimate is formed from the loan amount. RESPA requirements order that it has to contain all closing costs and fall within a tight range of accuracy, and I'll go over the estimate and let you know if everything looks permissible.
Then we'll close on your home. This will probably take place at a title company or escrow office and will probably be a smooth and easygoing affair.
Step 9 – Move in
Congratulations! Now you can move into your new home. Enjoy it. And if you have any questions, just contact me at 561-688-1316 or e-mail me at .