Are you purchasing a home in Evansville?
For many people, purchasing a home can be a stressful event. But with a bit of up-front planning, it's not too difficult.
So they know exactly what to expect, I will give buyers an overview of the whole deal.
These are my nine steps to purchasing a home.
If you have questions regarding this information or if you're ready to get started, just contact me here or e-mail me at .
Step 1 – Get ready to purchase a home
There are plenty of things you need to contemplate prior to commencing your home search.
You'll want to form a check list of features you want, get a feeling for what neighborhoods you want to live in, and begin planning around your budget.
Ensuring your mortgage payment is less than 1/3 of your monthly income is a good rule to go by.
Step 2 – Speak with a real estate agent
This is where Gammon Realty comes in.
We can set up 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 discuss neighborhoods, school districts in the Evansville area, the mortgage and housing industries, and any other economic factors that may affect your purchase today or in the future.
I can also assist you in getting started on your loan.
I work with some of Evansville's finest mortgage professionals, so you're in great hands.
They can help you choose which kind of loan is best for you, as well as help you get approved.
Step 3 – Start looking for a home
Following our initial meeting, I'll start searching for homes on the market that are great for you.
I'll get a sneak peek of many of the homes and reject the duds, and then we'll schedule appointments to tour the homes whenever it's convenient for you.
When we tour the houses, I'll point out positive features, as well as bad ones. I'll also ask you what things you like and dislike.
Generally, buyers change their wish list as we view houses and some features become more substantial than others.
If that happens, I'll look through the listings once again and trim it down to the house you've been waiting for.
Step 4 – Comprehend the market
Your agent's knowledge of the Evansville housing market is a necessary factor in your house search. And I can assure you I'm informed of all the school districts and neighborhoods, and I'll let you know certain neighborhoods are "hot" and require immediate action and some that are "cold" and allow for careful analysis.
When we tour homes, I'll let you know when the seller's list price has room for bargaining and when I think the house is "priced to sell."
When working with an agent, be careful and make sure you ask lots of questions, as any REALTOR in Evansville will convince you they truly understand the home market.
If things don't add up, contact me at (812) 436-9222 or e-mail me at , and I'll be glad 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 your dream home
I'm certain we'll find your dream house in Evansville. When that happens, I'll carefully create your purchase offer. The offer will be tailored to suit your needs and the home, including several contingencies. A few examples are acquiring financing, carrying out the home inspection, and a clear title.
When we send in your offer, most likely you'll want to submit "earnest money." This is a cash deposit submitted to a home seller to secure an offer to purchase the property and is most often applied to the cost of closing. If the seller accepts the offer, we should close about 30 to 60 days after. This allows plenty of time for your mortgage financing.
Step 6 – Negotiate the deal
Unfortunately most contracts aren't closed on the beginning offer. It's really common to receive a counter offer. But don't let it alarm you. We'll talk about whether or not to consent to the counter offer, propose our own counter offer, or decline the seller's offer and go on.
Market conditions determine how aggressively we negotiate the contract.
In addition, we'll work within your financing constraints. And when it's all said and done, we'll formulate a deal that is best for you.
Step 7 – Obtain your loan
Upon signing the contract, you'll begin working with your lender to close the loan.
If you're pre-qualified, this shouldn't take much time at all, but you'll need to keep in close contact with your mortgage lender.
And I'll deal with all the property information your mortgage lender needs to close the loan.
Step 8 – Close the deal
Your lender will provide you with a Loan Estimate (LE) outlining closing costs within three days of receiving your loan application. You'll get a Loan Estimate (LE) detailing your closing costs from your lender within three days of receiving your application.
This estimate is formed from the loan amount, and RESPA requirements order that it has to include all closing costs and be within a close range of accuracy. I'll study the estimate and let you know if everything looks okay.
Then it's time to close on your house. This will most often take place at a title company or escrow office and is often a smooth and pleasant event.
Step 9 – Move in
Congratulations! It's time to move into your new home. Enjoy it. And if you have any questions, just contact me at (812) 436-9222 or e-mail me at .