Purchasing a home in Taylorsville with Bret Mundy Real Estate LLC
For many people, buying a home is a stressful event. However, with some up-front planning, it isn't too confusing.
I like to supply buyers with a road map of the entire deal so they understand exactly what they can expect.
Here are my nine steps to buying a home.
If you have any questions about this information or if you're prepared to get started, simply contact me here or e-mail me at .
Step 1 – Prepare to purchase
There are several things you should do prior to starting your home search.
It's likely that you'll want to assemble an index of features you need to have, get a plan of what neighborhoods and school districts you'd like to live in, and begin working on your budget.
Keeping your mortgage payment less than or close to 30 percent of your net monthly income is a good principle to follow.
Step 2 – Communicate with a real estate agent
This is where I can help.
We'll 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 the mortgage and housing industries, other economic factors that might affect your buying decision today or in the future, as well as neighborhoods and school districts in the Taylorsville area.
I'll also help you get started on your loan.
Bret Mundy Real Estate LLC works with some of the best mortgage professionals in Taylorsville, so you can rest assured that you're in great hands.
They can assist you in figuring out which kind of loan is best for you and help you get qualified.
Step 3 – Begin house hunting
After our first meeting, I'll start looking for available homes on the market that best suit you.
I'll get a sneak peek of many of the houses and exclude the duds, and then we'll book appointments to tour the homes when it's convenient for you.
As we tour houses, I'll identify positive features and negative ones. I'll also ask you to tell us about things you like and don't like.
As a rule, buyers change their wish list as we view houses and some features become more important than others.
If that's the case, I'll search all the listings once again and trim it down to the home you've been dreaming about.
Step 4 – Know the market
My understanding of the Taylorsville housing market is a fundamental aspect in your house search. I'm acquainted with all the schools and neighborhoods, and I can communicate some districts are "hot" and warrant prompt action and others that are "cold" and allow for thoughtful analysis.
When we tour homes, I'll let you know when the seller's list price has room for bargaining and when I know the home is "priced to sell."
When working with an agent, be mindful and be sure to ask lots of questions. Any REALTOR will claim to know the market.
If things don't add up, call me at 8286328863 or e-mail me at , and I'll be glad to answer any questions you have. My knowledge of the market will keep you a step ahead throughout the entire deal.
Step 5 – Find your dream home
We'll find the house of your dreams in the Taylorsville area, and when we do, I'll carefully develop your purchase offer. The offer will be tailored exactly to your needs and the home, including several contingencies. A few examples are obtaining financing, finishing the inspection, and a clear title.
Upon sending in your offer, most likely you'll want to submit "earnest money." This is a cash deposit submitted to the home seller to secure an offer to purchase the property and is most often put towards the closing costs. If the seller accepts the offer, we should close on the home within 30 to 60 days afterward. This allows enough time for your mortgage financing.
Step 6 – Negotiate
Most contracts don't close on the beginning offer – it's widely common to receive a counter offer. Don't let this discourage you. We'll discuss whether or not to agree to the counter offer, submit our own counter offer, or reject the seller's offer and move on.
The state of the market determines how aggressively we negotiate the deal.
In addition, we'll work within your budget. And when it's all said and done, we'll compose a deal that's best for you.
Step 7 – Get a loan
Upon finalizing the contract, you'll begin working with your mortgage lender to close the loan.
This shouldn't take much time at all if you're already pre-approved, but you'll want to keep in close contact with your mortgage lender.
And I'll care for all the property information your mortgage lender needs to close the loan.
Step 8 – Close the deal
Your lender will send you a Loan Estimate (LE) detailing closing costs within three days of getting your application. You'll get a Loan Estimate (LE) outlining your closing costs from your mortgage lender within three days of getting your application.
This estimate is formed from the loan amount, and RESPA requirements dictate that it has to include all closing costs and be within a narrow range of accuracy. I'll review the estimate and let you know if it all looks all right.
Then it's time to close on your house. This will probably happen at a title company or escrow office and will likely be a smooth and hassle-free affair.
Step 9 – Move in
Congratulations! It's time to move into your new home. Enjoy it. And if you need anything or have any questions, be sure to contact me at 8286328863 or e-mail me at .