Are you looking to buy a new home in Evansville? Gammon Realty can help.
Buying a home is intimidating for many people, but with a bit of planning ahead of time, it isn't too hard.
I like to provide buyers with a road map of the entire deal so they understand exactly what to expect.
Here are my nine steps to buying a home.
If you have any questions about any of this information or if you're ready to get started, simply contact me here or e-mail me at .
Step 1 – Prepare to purchase
Before you start your home search, there are several things you'll want to consider.
You'll want to create a checklist of features you need to have, get a feeling for what school districts and neighborhoods you want to live in, and start planning your budget.
Keeping your mortgage payment less than a third of your net monthly income is a good guideline to adhere to.
Step 2 – Speak with a real estate agent
This is where Gammon Realty comes in.
We can schedule a time to get together so we can talk about your real estate needs and get an idea of your upcoming plans.
We'll talk about neighborhoods, schools in the Evansville area, the mortgage and housing industries, and any other economic factors that may potentially affect your buying decision today or in the future.
In addition, I'll assist you with getting started on your loan.
Gammon Realty works with some of Evansville's finest mortgage professionals, so you're in great hands.
They will assist you in choosing which type of loan is best for you and help you get qualified.
Step 3 – Start looking for a house
After we meet for the first time, I'll start searching for available houses on the market that are a good fit for you.
I'll research many of the houses and exclude the duds, and then we'll schedule appointments to tour the homes whenever it's most convenient for you.
As we view the homes, I'll call attention to positive features and negative ones. And I'll ask you to point out what things you like and don't like.
For the most part, buyers update their list of must-haves as we view homes and some features become far more crucial than others.
If that's the situation, I'll search all the listings once more and narrow it down to the home you've been wishing for.
Step 4 – Comprehend the housing market
My understanding of the Evansville home market is a crucial component in your home search. I'm familiar with all the neighborhoods and school districts, and I'll alert you to certain districts are "hot" and demand prompt action and some that are "cool" and allow for more consideration.
When we view homes, I'll make sure to communicate if the asking price has room for negotiation or if I believe the home is "priced to sell."
Be careful and make sure you ask lots of questions, as any REALTOR in Evansville will claim to truly understand the market.
If it doesn't seem like they know everything, just call me at (812) 436-9222 or e-mail me at , and I'd be glad to answer any questions you might have. My understanding of the market will keep you a step above the rest through the entire process.
Step 5 – Find the house you've been waiting for
We'll find the house of your dreams in Evansville, and when that happens, I'll meticulously create your purchase offer. The offer will be tailored keeping your needs in mind and the home, including some contingencies, such as obtaining financing, carrying out the inspection, and a clean title.
Upon turning in your purchase offer, most likely you'll need to present "earnest money." This is a cash deposit given to the home seller to secure the offer to purchase the property, and it's most often applied to the cost of closing. If the seller accepts the offer, we should close on the property 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 initial offer – it's really common to receive a counter offer. But don't let it alarm you. We'll talk over whether or not to accept the counter offer, propose our own counter offer, or refuse the seller's offer and go on.
Market circumstances will play a vital role in how aggressively we negotiate the contract.
We'll also work within your financing budget. And at the end of the day, we'll compose a deal that works well for you.
Step 7 – Secure a loan
Once the deal is finalized, you'll begin working with your mortgage lender to close the loan.
If you're pre-approved, it shouldn't be a long process at all. But you'll want to keep in close contact with your lender.
And I'll sort out all the property information your mortgage lender needs to close the loan.
Step 8 – Close the deal
You'll get a Loan Estimate (LE) outlining closing costs from your lender within three days of receiving your application.
The estimate is based on the loan amount. RESPA requirements mandate that it has to include all closing costs and fall within a close range of accuracy, and I'll examine the estimate and let you know if everything looks good.
Then we'll close on your home. This will most often happen at a title company or escrow office and is often a smooth and calm affair.
Step 9 – Move in
Congratulations! Now you can move into your new house. Enjoy it. And if you need anything or have any questions, be sure to call me at (812) 436-9222 or e-mail me at .