With some planning ahead of time, buying a home isn't all that difficult, but the event is stressful for many people.
So you'll know exactly what to expect, I like to give my buyers a road map of the entire deal.
Below are my nine steps to buying a home.
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When you're ready to get started, simply contact me here or send e-mail to bethatkinson3@yahoo.com. I'm glad to answer questions you have regarding this information.
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Step 1 – Prepare to purchase a home
There are plenty of things you need to consider prior to commencing your home search.
When you start your search, you'll probably want to assemble an outline of features you need to have, get a feel for what neighborhoods you want to live in, and start working on your budget.
Keeping your mortgage payment around 1/3 of your net monthly income is a good rule to go by.
Step 2 – Contact a real estate agent in Midwest City
This is where I come in.
I'd be happy to set up a time to meet with you and speak with you regarding your real estate needs and get an idea of your upcoming plans.
We'll discuss everything from neighborhoods, school districts in the Midwest City area, the mortgage industry, to any other economic factors that could potentially affect your buying decision today or in the future.
I'll also help you get started on your loan.
Beth Atkinson works with some of the finest mortgage professionals in Midwest City, so you'll be in great hands.
They will assist you with deciding which type of loan is best for you and help you get approved.
Step 3 – Begin house-hunting
Following our initial meeting, I'll begin looking for homes 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 houses at a time that's convenient for you.
As we view homes, I'll identify good features and negative ones. And I'll ask you about things you like and dislike.
Most often, buyers update their wish list as we view houses and some features become far more essential than others.
If that happens, I'll search the listings once again and trim it down to the house you've been dreaming about.
Step 4 – Understand the market
Your agent's awareness of the Midwest City home market is a crucial aspect in your home search. And I can assure you I'm conscious of all the neighborhoods and schools, and I can let you know certain areas are "hot" and warrant prompt action and some that are "cold" and allow for thoughtful analysis.
When we view homes, I'll be sure to tell you when the seller's list price has room for negotiation and when I think the house is "priced to sell."
Be mindful and be sure to ask lots of questions, as any real estate agent in Midwest City will tell you they know the housing market.
If things don't add up, contact me at 405-737-4700 or e-mail me at bethatkinson3@yahoo.com, and I'd be more than happy to answer your questions. My knowledge of the market will keep you a step ahead throughout the entire process.
Step 5 – Find the home you've been waiting for
I know we'll find the house of your dreams in the Midwest City area. When we do, I'll precisely create your home purchase offer. The offer will be tailored exactly to your needs, including some contingencies, such as acquiring financing, carrying out the inspection, and a clean title.
When we submit your purchase offer, most likely you'll want to present "earnest money." This is a cash deposit made to the seller to secure the offer to buy the property, and it's most often put towards the cost of closing. If the seller accepts the offer, we should close about 30 to 60 days after. This allows necessary time for your mortgage financing.
Step 6 – Negotiate the deal
Most deals aren't closed on the initial offer – it's extremely common to receive a counter offer. But don't let it discourage you. We'll figure out whether or not to take the counter offer, propose our own counter offer, or decline the seller's offer and go on.
Market circumstances determine how aggressively we negotiate the contract.
In addition, we'll work within your financing limits. And when it's all said and done, we'll create a contract that works well for you.
Step 7 – Secure financing
Upon finishing the contract, you'll start working with your lender to close the loan.
It won't take long at all if you're pre-qualified, but you'll want to keep in close contact with your lender.
And I'll look after all the property information your mortgage lender will need to close the loan.
Step 8 – Close the deal
Your lender will give you a Good Faith Estimate (GFE) detailing closing costs within three days of accepting your application. You'll get a Good Faith Estimate (GFE) of closing costs from your lender within three days of taking your loan application.
This estimate depends on the loan amount. RESPA requirements dictate that it has to involve all closing costs and be within a close range of accuracy, and I'll examine the estimate and let you know if it all looks adequate.
Then we'll close on your home. This will most likely take place at a title company or escrow office and will probably be a smooth and easygoing event.
Step 9 – Move in
You made it! Now you can move into your new house. Enjoy it. And if you need anything or have any questions, be sure to contact me at 405-737-4700 or send me an e-mail.
