Purchasing a home can be stressful for many people. However, with a bit of up-front planning, it isn't all that difficult.
I like to provide buyers with an outline of the whole deal so they'll understand exactly what they can expect.
These are my nine steps to purchasing a home.
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When you're ready to get started, you can contact me here or send e-mail to ccarter@ccarterrealtygroup.com. I'm glad to address any questions you have regarding this information.
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Step 1 – Prepare to purchase a home
There are plenty of things you should do before you start looking for a home.
When you begin your search, you'll want to create an index of items you need, get a plan of what school districts and neighborhoods you want to live in, and start working on your budget.
Keeping your mortgage payment around a third of your monthly income is a good rule to adhere to.
Step 2 – Communicate with a real estate agent in Jacksonville
That's where I come in.
We can book a time to meet so we can talk about your real estate needs and get an idea of your plans for the future.
We'll talk about everything from neighborhoods, schools in the Jacksonville area, the mortgage and housing industries, to any other economic factors that may potentially affect your purchase today or in the future.
I can also assist you in getting started on your loan.
There are some great mortgage professionals in Jacksonville, and I partner with a lot of them, so you're in great hands.
They can help you determine which kind of loan is best for you, as well as help you get approved.
Step 3 – Begin looking
After our first meeting, I'll begin looking for available houses on the market that are a good fit for you.
I'll get a sneak peek of many of the houses and remove the duds, and then we'll schedule appointments to view the homes when it's convenient for you.
As we tour the houses, I'll call attention to good features, as well as bad ones. I'll also ask you what things you like and don't like.
It's common for buyers to amend their list of must-haves as we view homes and some features become more substantial than others.
If that's the case, I'll search all the listings once more and narrow it down to the home you've been dreaming about.
Step 4 – Know the market
My understanding of the Jacksonville market is an essential benefit in your house search. I am informed of all the school districts and neighborhoods, and I can alert you to what districts are "hot" and require immediate action and the ones that are "cool" and allow for more analysis.
As we view homes, I'll let you know when the list price has room for negotiation and also when I think the house is "priced to sell."
Every real estate agent will tell you they comprehend the housing market, but be mindful, and be sure to ask your agent a lot of questions.
If it seems like they don't know everything, call me at (904) 733-3456 or e-mail me at ccarter@ccarterrealtygroup.com, and I'll be happy to answer your questions. My market expertise will keep you a step above the rest through the entire process.
Step 5 – Find your dream house
I know we'll find your dream house in Jacksonville. When we do, I'll carefully create your home purchase offer. The offer will be tailored with your needs in mind, including several contingencies. A few examples are obtaining financing, completing the home inspection, and a clear title.
When presenting your offer, you'll likely need to submit "earnest money." This is a cash deposit made to a seller to secure an offer to buy the property and is most often applied to the closing costs. If the seller accepts your offer, we should close about 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 first offer, and it's extremely common to receive a counter offer. Don't let it alarm you. We'll consider whether or not to agree to the counter offer, propose our own counter offer, or refuse the seller's offer and move on.
Market conditions will play a part 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 formulate a deal that works well for you.
Step 7 – Secure a loan
Once we sign the final contract, you'll start working with your lender to close the loan.
If you're pre-qualified, it won't take much time at all, but you need to stay in close contact with your lender.
And I'll handle 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 getting your application. You'll get a Good Faith Estimate (GFE) detailing your closing costs from your mortgage lender within three days of getting your loan application.
The estimate rests on the loan amount. RESPA requirements order that it has to include all closing costs and be within a strict range of accuracy, and I'll analyze the estimate and let you know if it all looks okay.
Then we'll close on your house. This will probably happen at a title company or escrow office and will likely be a smooth and relaxed affair.
Step 9 – Move in
Success! Now you can move into your new house. Enjoy it. And if you need anything, simply contact me at (904) 733-3456 or send me an e-mail.
