Buying or selling a home? American Dream of Northeast Florida, Inc. can help.
For a lot of people, buying a home can be intimidating. But with a little planning ahead of time, it isn't very confusing.
So you understand exactly what to expect, we like to provide our buyers with an outline of the whole deal.
Here are our nine steps to purchasing a home.
Step 1 – Get ready to buy
There are many things you need to consider before you start looking for a home.
It's likely that you'll want to make a checklist of features you want, get an idea of what school districts and neighborhoods you'd like to live in, and begin planning around your budget.
Keeping your mortgage payment less than or close to 30 percent of your net monthly income is a good rule of thumb to go by.
Step 2 – Communicate with a real estate agent
That's where we can help.
We can book a time to meet so we can talk about why you want to buy a home and get an idea of your plans for the future.
We'll discuss everything from neighborhoods, schools in the Starke area, the mortgage and housing industries, to any other economic factors that could affect your purchase today or in the future.
We can also assist you with getting started on your loan.
American Dream of Northeast Florida, Inc. works with some of the finest mortgage professionals in Starke, so you're in great hands.
They will assist you in figuring out which kind of loan is best for you and help you get approved.
Step 3 – Begin looking
After our initial meeting, we'll start finding available homes on the market that are a good fit for you.
We'll get a sneak peek of most of the houses and remove the bad ones, and then we'll book appointments to tour the houses whenever it's most convenient for you.
When we tour the homes, we'll point out positive features and bad ones. And we'll ask you to tell us about things you like and don't like.
Most often, buyers amend their wish list as we tour homes and some items become more necessary than others.
If that happens, we'll search all the listings once again and narrow it down to the home of your dreams.
Step 4 – Understand the housing market
Our knowledge of the Starke housing market is a fundamental benefit in your search. We are mindful of all the neighborhoods and school districts, and we will alert you to certain neighborhoods are "hot" and demand prompt action and the rest that are "cold" and allow for thoughtful analysis.
When we view homes, we'll make sure to communicate if the list price has room for bargaining or if I believe the house is "priced to sell."
Any REALTOR® in Starke will claim to know the housing market, but trust your instincts, and make sure you ask lots of questions.
If things don't add up, contact us at 904-964-5424 or e-mail us at firstname.lastname@example.org, and we'll be happy to answer any questions you may have. Our understanding of the market will keep you a step above the rest throughout the entire deal.
Step 5 – Find the house you've been looking for
We're sure we'll find the house of your dreams in the Starke area, and when that happens, we'll carefully create your home purchase offer. The offer will be tailored with your needs in mind. Whenever necessary, We never forget to make contracts contingent upon items like acquiring financing and the results of the home inspection.
When we turn in your offer, most likely you'll want to submit "earnest money." This is a cash deposit given to a home seller to secure the offer to buy the property. The amount is often applied to the cost of closing. If the seller accepts the offer, we should close on the property within 30 to 60 days after. This allows ample time for your mortgage financing.
Step 6 – Negotiate
Unfortunately most contracts don't close on the initial offer – it's pretty common to receive a counter offer. But don't let this intimidate you. We'll consider whether or not to agree to the counter offer, propose our own counter offer, or refuse 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 compose a deal that works well for you.
Step 7 – Get a loan
Upon finalizing the contract, you'll begin working with your lender to close the loan.
If you're pre-qualified, this won't take very long at all. But you'll need to keep in close contact with your mortgage lender.
And we'll deal with all the property information your lender will need to close the loan.>
Step 8 – Close the deal
You'll get a Loan Estimate (LE) of closing costs from your lender within three days of taking your loan application.
The estimate is based on the loan amount. RESPA requirements order that it has to involve all closing costs and be within a narrow range of accuracy, and we'll review the estimate and let you know if it all looks good.
Then it's time to close on your house. This should happen at a title company or escrow office and will most likely be a smooth and comfortable occasion.
Step 9 – Move in
Success! It's time to move into your new home. Enjoy it. And if you need anything or have any questions, just contact us at 904-964-5424 or send us an e-mail.