Are you looking to purchase a new home in Oklahoma City? Website Test Services can help.
Buying a home can be stressful for a lot of people, but it's not very confusing with a little up-front planning.
So they know exactly what to expect, I will give buyers a road map of the entire deal.
Below are my nine steps to purchasing a home.
When you're ready to get started, just contact me here or e-mail me at . I'm happy to answer questions you have about this information.
Step 1 – Get ready to purchase a home
There are plenty of things you should consider prior to beginning your home search.
It's likely that you'll want to form an index of must-have features, get a feel for what school districts and neighborhoods you want to live in, and begin working on your budget.
Keeping your mortgage payment around a third of your net monthly income is a good rule of thumb to follow.
Step 2 – Contact a real estate agent in Oklahoma City
This is where I can help.
I'd be happy to plan a time to get together with you and talk about your real estate needs and get an idea of your plans for the future.
We'll discuss everything from neighborhoods, schools in the Oklahoma City area, the mortgage and housing industries, to any other economic factors that may potentially affect your buying decision today or in the future.
In addition, I'll help you start the loan process.
There are some great mortgage professionals in Oklahoma City, and I work with a lot of them, so you're in great hands.
They can help you figure out which type of loan is best for you, as well as help you get approved.
Step 3 – Start looking for a house
Following our initial meeting, I'll begin searching for houses on the market that are good for you.
I'll get a sneak peek of most of the homes and ignore the duds, and then we'll schedule appointments to tour the homes whenever it's most convenient for you.
As we view the houses, I'll call attention to good features, as well as bad ones. I'll even ask you to point out what things you like and don't like.
Oftentimes, buyers update their must-have list as we view homes and some features become more necessary than others.
If that's the situation, I'll go back through all the listings one more time and narrow it down to the home you've been wishing for.
Step 4 – Know the market
My understanding of the Oklahoma City home market is an imperative aspect in your house search. I am familiar with all the schools and neighborhoods, and I'll communicate certain areas are "hot" and warrant prompt action and some that are "cold" and allow for more consideration.
When we tour houses, I'll make sure to communicate if the seller's list price has room for negotiation or if I believe the house is "priced to sell."
When working with an agent, be careful and make sure you ask plenty of questions, as any REALTOR will tell you they comprehend the housing market.
If it doesn't seem like they know everything, call me at or e-mail me at , and I'd be happy to answer any questions you may have. My market knowledge will help you stay a step ahead through the entire deal.
Step 5 – Find the house you've been waiting for
I'm confident we'll find the house of your dreams in the Oklahoma City area. When that happens, I'll meticulously develop your purchase offer. The offer will be made to fit your needs and the home. We'll include several contingencies, such as getting financing, carrying out the home inspection, and a clear title.
When turning in your offer, most likely you'll want to present "earnest money." This is a cash deposit made to a seller to secure the offer to purchase the property. The amount is usually put towards the closing costs. If your offer is accepted by the seller, we should close about 30 to 60 days after. This allows sufficient time for your mortgage financing.
Step 6 – Negotiate
Unfortunately most contracts don't close on the beginning offer, and it's really common to receive a counter offer. But don't let this discourage you. We'll consider whether or not to take the counter offer, present our own counter offer, or reject the seller's offer and go on.
Market circumstances determine how aggressively we negotiate the deal.
In addition, we'll work within your financing budget. And when it's all said and done, we'll put together a contract that is best for you.
Step 7 – Obtain a loan
Upon completion of the contract, you'll begin working with your mortgage lender to close the loan.
If you've been pre-qualified, it shouldn't take much time at all. However, you'll want to keep in close contact with your lender.
And I'll deal with all the property information your lender will need to close the loan.
Step 8 – Close the deal
Your mortgage lender will supply you with a Loan Estimate (LE) outlining closing costs within three days of accepting your loan application. You'll get a Loan Estimate (LE) outlining your closing costs from your mortgage lender within three days of taking your application.
This estimate rests on the loan amount, and RESPA requirements require that it has to contain all closing costs and fall within a narrow range of accuracy. I'll analyze the estimate and let you know if it all looks okay.
Then we'll close on your home. This will most likely happen at a title company or escrow office and should be a smooth and calm occurrence.
Step 9 – Move in
Congratulations! It's time to move into your new house. Enjoy it. And if you need anything or have any questions, simply contact me at or e-mail me at .