Contemplating purchasing a new home in Bronx? Go! Real Estate, Inc. can help.
Buying a home is stressful for most people. However, with a little planning ahead of time, it's not all that difficult.
I like to give buyers an outline of the whole deal so they'll know exactly what they can expect.
These are my nine steps to buying a home.
Should you have any questions regarding this information or if you're prepared to get started, simply contact me here or e-mail me at .
Step 1 – Get ready to purchase
Before you start looking for a home, there are many things you'll want to contemplate.
When you begin your search, you'll want to form an index of items you want to have, get a plan of what neighborhoods and school districts you'd like to live in, and begin planning your budget.
Ensuring your mortgage payment is no more than a third of your net monthly income is a good principle to go by.
Step 2 – Talk to a real estate agent
This is where Go! Real Estate, Inc. comes in.
We'll plan a time to get together so we can talk about why you want to buy a home and get an idea of your upcoming 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 Bronx area.
In addition, I'll help you start the loan process.
I partner with some of the best mortgage professionals in Bronx, so you can rest assured that you're in great hands.
They will help you figure out which type of loan is best for you, as well as help you get approved.
Step 3 – Begin looking
After our initial meeting, I'll begin finding houses on the market that best suit you.
I'll research most of the houses and eliminate the duds, and then we'll set up appointments to view the houses whenever it's convenient for you.
When we tour homes, I'll call attention to good features, as well as bad ones. I'll even ask you about things you like and don't like.
Most often, buyers amend their list of must-haves as we tour homes and some features become more substantial than others.
If such is the case, I'll look through the listings one more time and trim it down to the home you've been waiting for.
Step 4 – Comprehend the housing market
An agent's knowledge of the Bronx home market is a leading aspect in your house search. And I assure you I'm mindful of all the neighborhoods and school districts, and I can let you know certain districts are "hot" and warrant immediate action and others that are "cool" and allow for more consideration.
When we tour homes, I'll let you know if the asking price has room for negotiation or if I believe the home is "priced to sell."
Trust your instincts and make sure you ask plenty of questions, as every real estate agent in Bronx will tell you they understand the market.
If it seems like they don't know everything, just call me at 1-718-863-8778 or e-mail me at , and I'd be happy to answer any questions you might have. My understanding of the market will keep you a step ahead through the entire process.
Step 5 – Find the home you've been looking for
I'm confident we'll find the home of your dreams in Bronx. When we do, I'll precisely create your real estate purchase offer. The offer will be made to fit your needs and the home. We'll include several contingencies, such as getting financing, completing the inspection, and a clear title.
When sending in your purchase offer, you'll want to present "earnest money." This is a cash deposit made to the home seller to secure the offer to purchase the property. The amount is often applied to the cost of closing. If your offer is accepted by the seller, we should close within 30 to 60 days afterward. This allows sufficient time for your mortgage financing.
Step 6 – Negotiate the deal
Unfortunately most deals aren't closed on the first offer, and it's pretty common to receive a counter offer. But don't let it discourage you. We'll figure out whether or not to consent to the counter offer, present our own counter offer, or reject the seller's offer and go on.
The state of the market determines how aggressively we negotiate the deal.
We'll also work within your financing budget. And when it's all said and done, we'll compose a contract that is best for you.
Step 7 – Secure financing
After we sign the final sales contract, you'll begin working with your mortgage lender to close the loan.
If you're pre-approved, it won't take much time at all, but you'll need to keep in close contact with your mortgage lender.
And I'll manage all the property information your mortgage lender needs to close the loan.
Step 8 – Close the deal
Your mortgage lender will furnish you with a Loan Estimate (LE) outlining your closing costs within three days of receiving your application. You'll get a Loan Estimate (LE) outlining closing costs from your lender within three days of accepting your application.
The estimate rests on the loan amount, and RESPA requirements order that it has to include all closing costs and fall within a strict range of accuracy. I'll go over the estimate and let you know if it all looks good.
Then we'll close on your home. This will most often take place at a title company or escrow office and will likely be a smooth and stress-free occurrence.
Step 9 – Move in
Congratulations! Now you can move into your new home. Enjoy it. And if you have any questions, just call me at 1-718-863-8778 or e-mail me at .