Purchasing a home in West Palm Beach
For many people, purchasing a home can be an intimidating event. However, with a little up-front planning, it isn't too difficult.
I like to supply buyers with an outline of the entire deal so they understand exactly what they can expect.
Here 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 happy to address questions you have about this information.
Step 1 – Prepare to buy a home
There are a lot of things you should consider before starting your home search.
You'll want to assemble a check list of items you want to have, plan for what school districts you'd like to live in, and start working on your budget.
Ensuring your mortgage payment is less than or around a third of your monthly income is a good principle to adhere to.
Step 2 – Speak with a real estate agent
That's where I come in.
We can schedule a time to get together so we can talk about your real estate needs and get an idea of your plans for the future.
We'll talk about the mortgage industry, other economic factors that could potentially affect your purchase today or in the future, as well as neighborhoods and school districts in the West Palm Beach area.
I can also assist you in getting started on your loan.
J. Briann Realty Group, Inc. works with some of West Palm Beach's finest mortgage professionals, so you'll be in great hands.
They'll assist you in choosing which kind of loan is best for you and help you get qualified.
Step 3 – Start house hunting
After our first meeting, I'll begin finding available homes on the market that meet your needs.
I'll get a sneak peek of many of the homes and eliminate the duds, and then we'll book appointments to tour the homes whenever it's most convenient for you.
When we view the houses, I'll call attention to good features, as well as bad ones. And I'll ask you what things you like and don't like.
As a rule, buyers change their wish list as we view houses and some items become more essential than others.
If that's the case, I'll look through all the listings once again and trim it down to the home of your dreams.
Step 4 – Comprehend the housing market
An agent's knowledge of the West Palm Beach housing market is a leading agent in your home search. And I can assure you I'm familiar with all the schools and neighborhoods, and I will communicate which neighborhoods are "hot" and warrant immediate action and the ones that are "cold" and allow for thoughtful examination.
As we tour houses, I'll be sure to tell you when the seller's asking price has room for bargaining and when I trust the home is "priced to sell."
When working with an agent, be mindful and make sure you ask plenty of questions, as every real estate agent in West Palm Beach will tell you they truly know the market.
If things don't add up, just call me at 561-688-1316 or e-mail me at , and I'd be happy to answer your questions. My market expertise will keep you a step ahead through the entire process.
Step 5 – Find your dream house
We'll find your dream home in the West Palm Beach area, and when that happens, I'll thoroughly create your real estate purchase offer. The offer will be tailored with your needs in mind and the home, including several contingencies. A few examples are obtaining financing, completing the home 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 the offer to buy the property, and it's usually put towards the closing costs. If your offer is accepted, we should close within 30 to 60 days after. This allows enough time for your mortgage financing.
Step 6 – Negotiate
Most contracts aren't closed on the first offer – it's extremely common to receive a counter offer. Don't let this alarm you. We'll discuss whether or not to accept the counter offer, present our own counter offer, or decline the seller's offer and move on.
How aggressively we negotiate the contract depends on market circumstances.
In addition, we'll work within your budget. And at the end of the day, we'll assemble a deal that works well for you.
Step 7 – Obtain your loan
Upon completion of the contract, you'll begin working with your lender to close the loan.
If you've been pre-qualified, it shouldn't take much time at all, but you need to keep in close contact with your lender.
And I'll sort out 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 your closing costs from your lender within three days of getting your application.
The estimate rests on the loan amount, and RESPA requirements dictate that it has to contain all closing costs and fall within a close range of accuracy. I'll analyze the estimate and let you know if it all looks all right.
Then it's time to close on your home. This should take place at a title company or escrow office and will most often be a smooth and calm event.
Step 9 – Move in
Congratulations! Now you can move into your new house. Enjoy it. And if you need anything, make sure you contact me at 561-688-1316 or e-mail me at .