Buying or selling a home in West Palm Beach?
Purchasing a home is an intimidating event for a lot of people, but it isn't that complicated with a bit of up-front planning.
I like to supply buyers with a road map of the entire deal so they understand exactly what to expect.
Below are my nine steps to buying a home.
When you're ready to get started, you can contact me here or e-mail me at . I'm glad to answer any questions you have regarding this information.
Step 1 – Prepare to buy a home
There are a lot of things you should contemplate before you start searching for a home.
When you start your search, you'll probably want to make an outline of features you need, plan for what neighborhoods you'd like to live in, and start planning around your budget.
A good guideline to follow is that your mortgage payment should be less than or around a third of your monthly income.
Step 2 – Get in touch with a real estate agent in West Palm Beach
That's where I can help.
We'll plan a time to get together so we can talk about why you want to buy a home and get an idea of your upcoming plans.
We'll discuss neighborhoods, schools in the West Palm Beach area, the mortgage and housing industries, and any additional economic factors that may potentially affect your purchase today or in the future.
I'll also help you start the loan process.
There are some very good mortgage professionals in West Palm Beach, and I work with a lot of them, so you'll be in great hands.
They'll help you choose which kind of loan is best for you, as well as help you get qualified.
Step 3 – Start looking for a house
After our first meeting, I'll begin searching for available houses on the market that are great for you.
I'll get a sneak peek of many of the houses and eliminate the bad ones, and then we'll book appointments to view the houses at a time that's convenient for you.
When we view the houses, I'll point out good features and bad ones. And I'll ask you to tell us about things you like and don't like.
Generally, buyers update their list of must-haves as we view homes and some items become more important than others.
If that happens, I'll go back through the listings once again and narrow it down to the home of your dreams.
Step 4 – Know the market
My knowledge of the West Palm Beach home market is a necessary aspect in your home search. I'm informed of all the neighborhoods and schools, and I will alert you to certain neighborhoods are "hot" and require prompt action and others that are "cold" and allow for careful examination.
As we view houses, I'll make sure to communicate when the list price has room for bargaining and also when I think the house is "priced to sell."
When working with an agent, be on guard and make sure you ask lots of questions. Any REALTOR in West Palm Beach will tell you they know the market.
If things don't add up, 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 keep you a step ahead throughout the entire deal.
Step 5 – Find the home of your dreams
I'm positive we'll find your dream house in the West Palm Beach area. When that happens, I'll precisely create your purchase offer. The offer will be tailored keeping your needs in mind and the home, including several contingencies, such as obtaining financing, finishing the inspection, and a clean title.
When we send in your purchase offer, you'll want to submit "earnest money." This is a cash deposit given to a home seller to secure an offer to purchase the property, and it's typically applied to the closing costs. If the seller accepts your offer, we should close within 30 to 60 days afterward. This allows necessary time for your mortgage financing.
Step 6 – Negotiate the deal
Most contracts don't close on the beginning offer. It's widely common to receive a counter offer. But don't let it intimidate you. We'll consider whether or not to accept 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 conditions.
In addition, we'll work within your budget. And at the end of the day, we'll assemble a deal that is best for you.
Step 7 – Secure your loan
After the deal is signed, you'll begin working with your lender to close the loan.
If you're already pre-approved, this won't take much time at all, but you need to keep in close contact with your lender.
And I'll care for 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) detailing your closing costs from your mortgage lender within three days of getting your loan application.
The estimate is formed from the loan amount. RESPA requirements require that it has to contain all closing costs and be within a close range of accuracy, and I'll review the estimate and let you know if everything looks good.
Then it's time to close on your home. This will most likely take place at a title company or escrow office and should be a smooth and easygoing affair.
Step 9 – Move in
Congratulations! It's time to move into your new house. Enjoy it. And if you have any questions, make sure you contact me at 561-688-1316 or e-mail me at .