Looking to purchase a home in Bronx? Go! Real Estate, Inc. can help.
For many people, purchasing a home is a stressful event. But with a little planning ahead of time, it isn't very hard.
I like to give buyers an outline of the whole deal so they'll understand exactly what they can expect.
Below are my nine steps to buying a home.
When you're ready to get started, simply contact me here or e-mail me at . I'm glad to address questions you have regarding this information.
Step 1 – Prepare to buy a home
There are many things you'll want to take into account prior to starting your home search.
It's likely that you'll want to make a list of items you want to have, get an idea of what neighborhoods you'd like to live in, and begin working on your budget.
Ensuring your mortgage payment is less than or around 30 percent of your monthly income is a good rule of thumb to follow.
Step 2 – Talk to a real estate agent in Bronx
This is where I can help.
I'd be happy to plan a time to get together with you and communicate with you about why you want to buy a home and get an idea of your upcoming plans.
We'll discuss neighborhoods, school districts in the Bronx area, the mortgage industry, and any additional economic factors that may affect your purchase today or in the future.
I can also help you begin the loan process.
Go! Real Estate, Inc. works with some of Bronx's best mortgage professionals, so you're in great hands.
They can assist you in determining which kind of loan is best for you and help you get qualified.
Step 3 – Begin house hunting
After our first meeting, I'll begin finding homes on the market that suit your needs.
I'll preview many of the houses and eliminate the duds, and then we'll schedule appointments to view the houses at a time that's convenient for you.
When we view homes, I'll show you the positive features, as well as bad ones. I'll also ask you about things you like and don't like.
It's widely common for buyers to revise their list of must-haves as we view houses and some features become far more substantial than others.
If that's the case, I'll search all the listings once more and narrow it down to the house you've been waiting for.
Step 4 – Know the market
An agent's knowledge of the Bronx market is an imperative aspect in your home search. And I can assure you I'm informed of all the neighborhoods and schools, and I will communicate certain areas are "hot" and call for prompt action and the ones that are "cool" and allow for more examination.
When we view homes, I'll make sure to communicate when the seller's list price has room for negotiation and also when I think the house is "priced to sell."
Any REALTOR in Bronx will convince you they know the home market, but beware, and be sure to ask lots of questions.
If things don't add up, just call me at 1-718-863-8778 or e-mail me at , and I'd be more than happy to answer any questions you might have. My understanding of the market will keep you a step ahead throughout the entire deal.
Step 5 – Find the house of your dreams
I'm positive we'll find your dream house in Bronx. When that happens, I'll thoroughly develop your home purchase offer. The offer will be tailored exactly to your needs and the home, including some contingencies, such as getting financing, finishing the home inspection, and a clean title.
When we turn in your purchase offer, you'll need to present "earnest money." This is a cash deposit made to the home seller to secure an offer to buy the property, and it's usually put towards the cost of closing. If the seller accepts the offer, we should close on the property within 30 to 60 days after. This allows necessary time for your mortgage financing.
Step 6 – Negotiate
A lot of contracts aren't closed on the first offer – it's widely common to receive a counter offer. Don't let it intimidate you. We'll consider whether or not to agree to the counter offer, submit our own counter offer, or reject the seller's offer and move on.
Market circumstances will play a large role in how aggressively we negotiate the contract.
In addition, we'll work within your financing limits. And at the end of the day, we'll put together a contract that is best for you.
Step 7 – Get your loan
Upon finalizing the contract, you'll begin working with your lender to close the loan.
This won't be a long process at all if you're pre-qualified, but you'll want to keep in close contact with your lender.
And I'll take care of all the property information your mortgage lender will need to close the loan.
Step 8 – Close the deal
You'll get a Loan Estimate (LE) detailing closing costs from your lender within three days of taking your loan application.
This estimate is based on the loan amount. RESPA requirements mandate that it has to include all closing costs and fall within a tight range of accuracy, and I'll examine the estimate and let you know if it all looks permissible.
Then it's time to close on your house. This will most often happen at a title company or escrow office and will probably be a smooth and pleasant occasion.
Step 9 – Move in
Congratulations! It's time to move into your new house. Enjoy it. And if you have any questions, simply contact me at 1-718-863-8778 or e-mail me at .