Buying or selling a home in Evansville?
For a lot of people, buying a home is a stressful event. But with a bit of planning ahead of time, it's not very hard.
I like to furnish buyers with an outline of the whole deal so they understand exactly what to expect.
These are my nine steps to purchasing 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 regarding this information.
Step 1 – Prepare to buy
There are many things you need to take into account before you start looking for a home.
When you start your search, you'll probably want to put together a checklist of items you want to have, get a feel for what neighborhoods and school districts you'd like to live in, and start planning your budget.
Keeping your mortgage payment less than 30 percent of your net monthly income is a good guideline to adhere to.
Step 2 – Contact a real estate agent in Evansville
This is where Gammon Realty comes in.
We can plan 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 the mortgage and housing industries, other economic factors that may affect your purchase today or in the future, as well as neighborhoods and school districts in the Evansville area.
I can also help you facilitate the loan process.
Gammon Realty partners with some of Evansville's finest mortgage professionals, so you can rest assured that you're in great hands.
They will help you decide which type of loan is best for you, as well as help you get qualified.
Step 3 – Begin your search
After our initial meeting, I'll begin finding available houses on the market that suit your needs.
I'll preview most of the homes and eliminate the bad ones, and then we'll book appointments to tour the houses when it's convenient for you.
As we tour houses, I'll identify positive features, as well as negative ones. And I'll ask you to point out what things you like and don't like.
Oftentimes, buyers amend their wish list as we view houses and some features become more necessary than others.
If such is the case, I'll search all the listings another time and trim it down to the house you've been dreaming about.
Step 4 – Get a grasp of the market
An agent's knowledge of the Evansville market is a fundamental aspect in your home search. And I assure you I'm familiar with all the neighborhoods and school districts, and I can alert you to certain districts are "hot" and call for prompt action and the ones that are "cold" and allow for thoughtful examination.
As we view homes, I'll let you know if the seller's list price has room for bargaining or if I believe the house is "priced to sell."
When working with an agent, trust your instincts and be sure to ask a lot of questions, as any real estate agent will tell you they truly know the home market.
If it appears they don't know everything, contact me at (812) 436-9222 or e-mail me at , and I'd be more than 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 house of your dreams
I'm positive we'll find the house of your dreams in Evansville. When that happens, I'll thoroughly develop your home purchase offer. The offer will be made to fit your needs and the home. We'll include many contingencies, such as acquiring financing, finishing the inspection, and a clean title.
Upon presenting your purchase offer, you'll likely need to submit "earnest money." This is a cash deposit submitted to the seller to secure an offer to purchase the property and is often applied to the cost of closing. If the seller accepts the offer, we should close on the home within 30 to 60 days afterward. This allows plenty of time for your mortgage financing.
Step 6 – Negotiate the deal
Most deals don't close on the first offer, and it's really common to receive a counter offer. But don't let this discourage you. We'll figure out whether or not to accept the counter offer, submit our own counter offer, or decline the seller's offer and go on.
Market circumstances will play a large role in how aggressively we negotiate the contract.
We'll also work within your financing constraints. And when it's all said and done, we'll compose a contract that's best for you.
Step 7 – Secure financing
After we sign the final deal, you'll begin working with your mortgage lender to close the loan.
If you've been pre-qualified, this shouldn't be a long process at all. However, you'll want to keep in close contact with your mortgage lender.
And I'll deal with all the property information your lender needs to close the loan.
Step 8 – Close the deal
Your lender will give you a Loan Estimate (LE) of closing costs within three days of getting your loan application. You'll get a Loan Estimate (LE) of closing costs from your mortgage lender within three days of getting your application.
This estimate rests on the loan amount, and RESPA requirements mandate that it has to involve all closing costs and be within a precise range of accuracy. I'll review the estimate and let you know if everything looks okay.
Then it's time to close on your home. This should take place at a title company or escrow office and is often a smooth and relaxing occasion.
Step 9 – Move in
Congratulations! It's time to move into your new house. Enjoy it. And if you need anything, just contact me at (812) 436-9222 or e-mail me at .