Contemplating purchasing a home in West Palm Beach? J. Briann Realty Group, Inc. can help.
For a lot of people, buying a home is a stressful event. However, with a little up-front planning, it's not very complex.
So they'll understand exactly what they can expect, I will supply buyers with a road map of the entire deal.
Here are my nine steps to purchasing a home.
Should you have any questions regarding any of this information or if you're ready to get started, you can contact me here or e-mail me at .
Step 1 – Prepare to buy
There are several things you should consider prior to starting your home search.
When you begin your search, you'll probably want to create a check list of features you want to have, plan for what school districts and neighborhoods you'd like to live in, and start working on your budget.
A good rule of thumb to go by is that your mortgage payment should be less than or around a third of your net monthly income.
Step 2 – Get in touch with a real estate agent
This is where I come in.
We'll book a time to meet so we can talk about your real estate needs and get an idea of your upcoming plans.
We'll discuss neighborhoods, school districts in the West Palm Beach area, the mortgage and housing industries, and any other economic factors that may potentially affect your buying decision today or in the future.
I can also help you start the loan process.
I work with some of the finest mortgage professionals in West Palm Beach, so you'll be in great hands.
They'll assist you with choosing which type of loan is best for you and help you get qualified.
Step 3 – Start your search
Following our first meeting, I'll start looking for available homes on the market that best suit you.
I'll preview most of the homes and ignore the duds, and then we'll book appointments to tour the homes whenever it's convenient for you.
As we tour homes, I'll identify good features, as well as bad ones. I'll also ask you to tell us about things you like and don't like.
Oftentimes, buyers change their wish list as we tour houses and some things become far more essential than others.
If that's the situation, I'll search all the listings again and trim it down to the house you've been wishing for.
Step 4 – Understand the housing market
Your agent's awareness of the West Palm Beach home market is a fundamental component in your house search. And I can assure you I'm conscious of all the neighborhoods and schools, and I will communicate which districts are "hot" and warrant prompt action and some that are "cool" and allow for careful consideration.
When we tour homes, I'll be sure to tell you when the seller's asking price has room for negotiation and when I know the house is "priced to sell."
When working with an agent, trust your instincts and make sure you ask lots of questions. Every real estate agent will convince you they truly know the market.
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 understanding of the market will help you stay a step ahead through the entire process.
Step 5 – Find the home you've been looking for
I'm positive we'll find your dream home in the West Palm Beach area. When that happens, I'll meticulously develop your purchase offer. The offer will be tailored with your needs in mind and the home, including a lot of contingencies, such as acquiring financing, finishing the inspection, and a clear title.
When submitting your purchase offer, you'll likely need to present "earnest money." This is a cash deposit given to a seller to secure an offer to purchase the property and is usually put towards the cost of closing. If the seller accepts your offer, we should close on the property within 30 to 60 days afterward. This allows sufficient time for your mortgage financing.
Step 6 – Negotiate the deal
Unfortunately most contracts don't close on the beginning offer, and it's pretty common to receive a counter offer. Don't let it intimidate you. We'll discuss whether or not to consent to the counter offer, submit our own counter offer, or decline the seller's offer and move on.
Market conditions will play a role in how aggressively we negotiate the deal.
We'll also work within your financing budget. And when it's all said and done, we'll create a contract that is best for you.
Step 7 – Secure a loan
Upon completion of the contract, you'll begin working with your mortgage lender to close the loan.
It won't take very long at all if you're pre-qualified, but you should to keep in close contact with your lender.
And I'll take care of all the property information your lender will need to close the loan.
Step 8 – Close the deal
You'll get a Loan Estimate (LE) of closing costs from your lender within three days of taking your loan application.
The estimate is formed from the loan amount. RESPA requirements dictate that it has to involve all closing costs and be within a strict range of accuracy, and I'll examine the estimate and let you know if everything looks all right.
Then we'll close on your home. This will likely happen at a title company or escrow office and will most often be a smooth and relaxed occurrence.
Step 9 – Move in
Congratulations! Now you can move into your new home. Enjoy it. And if you have any questions, just call me at 561-688-1316 or e-mail me at .