Let Carrico and Associates Realtors assist you in buying your home in Denton
Purchasing a home is stressful for many people, but with a little up-front planning, it's not too complicated.
I like to provide buyers with an outline of the whole deal so they'll understand exactly what to expect.
These are my nine steps to purchasing a home.
When you're ready to get started, you can contact me here or e-mail me at . I'm glad to address questions you have about this information.
Step 1 – Prepare to purchase a home
There are several things you should consider before commencing your home search.
When you begin your search, you'll probably want to form an index of features you want, get a feeling for what neighborhoods and school districts you want to live in, and start planning around your budget.
Ensuring your mortgage payment is around 1/3 of your net monthly income is a good rule to go by.
Step 2 – Contact a real estate agent in Denton
This is where I come in.
We'll schedule a time to get together so we can talk about why you want to buy a home and get an idea of your future plans.
We'll discuss the mortgage industry, other economic factors that might affect your purchase today or in the future, as well as neighborhoods and schools in the Denton area.
In addition, I'll assist you in getting started on your loan.
Carrico and Associates Realtors partners with some of Denton's best mortgage professionals, so you can rest assured that you're in great hands.
They'll assist you with choosing which type of loan is best for you and help you get approved.
Step 3 – Begin your home search
After we meet, I'll start looking for homes on the market that best suit you.
I'll research many of the houses and exclude the bad ones, and then we'll set up appointments to tour the homes when it's convenient for you.
When we tour the houses, I'll point out positive features and negative ones. And I'll ask you to tell us about things you like and don't like.
Frequently, buyers change their list of must-haves as we view houses and some items become far more crucial than others.
If such is the case, I'll search all the listings once more and narrow it down to the house you've been wishing for.
Step 4 – Understand the market
My awareness of the Denton housing market is a leading element in your house search. I'm familiar with all the schools and neighborhoods, and I'll let you know which areas are "hot" and warrant prompt action and some that are "cold" and allow for thoughtful examination.
When we tour homes, I'll make sure to communicate when the seller's list price has room for bargaining and also when I believe the house is "priced to sell."
When working with an agent, be on guard and be sure to ask lots of questions. Any real estate agent in Denton will claim to comprehend the market.
If it doesn't seem like they know everything, just call me at 9403950414 or e-mail me at , and I'd be happy to answer any questions you have. My understanding of the market will help you stay a step above the rest throughout the entire process.
Step 5 – Find the home you've been waiting for
We'll find your dream home in Denton, and when we do, I'll precisely create your purchase offer. The offer will be tailored keeping your needs in mind and the home, including many contingencies. A few examples are obtaining financing, completing the home inspection, and a clean title.
When turning in your offer, most likely you'll want to present "earnest money." This is a cash deposit given to a home seller to secure the offer to buy the property and is usually put towards the closing costs. If your offer is accepted by the seller, we should close on the property about 30 to 60 days after. This allows enough time for your mortgage financing.
Step 6 – Negotiate
Most deals don't close on the first offer, and it's very common to receive a counter offer. But don't let this discourage you. We'll discuss whether or not to accept the counter offer, present 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 budget. And when it's all said and done, we'll assemble a deal that's best for you.
Step 7 – Get your loan
Upon signing the contract, you'll start working with your mortgage lender to close the loan.
If you're pre-qualified, this shouldn't be a long process at all. However, you should to keep in close contact with your lender.
And I'll take care of all the property information your lender needs to close the loan.
Step 8 – Close the deal
Your lender will give you a Loan Estimate (LE) detailing closing costs within three days of accepting your application. You'll get a Loan Estimate (LE) of your closing costs from your lender within three days of accepting your loan application.
This estimate is based on the loan amount, and RESPA requirements require that it has to include all closing costs and be within a close range of accuracy. I'll go over the estimate and let you know if it all looks adequate.
Then it's time to close on your house. This will most often occur at a title company or escrow office and will probably be a smooth and stress-free event.
Step 9 – Move in
Congratulations! Now you can move into your new home. Enjoy it. And if you have any questions, simply contact me at 9403950414 or e-mail me at .