Buying or selling a home in Frisco? Jeanie Elliott Inc. REALTORS, ABR, ALHS, CHMS, SRES, SFR, BPOR, M.S. BUSINESS can help.Buying a home is stressful for a lot of people, but it's not all that complex with some planning ahead of time. I like to furnish buyers with an overview of the whole deal so they'll understand exactly what they can expect. Here are my nine steps to purchasing a home.
|When you're ready to get started, simply contact me here or send e-mail to firstname.lastname@example.org. I'm happy to answer questions you have about this information.|
Step 1 – Get ready to purchase
There are many things you should do before beginning your home search. When you begin your search, you'll want to form an outline of items you need, get an idea of what school districts you'd like to live in, and start planning around your budget. A good rule of thumb to adhere to is that your mortgage payment should be close to 30 percent of your monthly income.
Step 2 – Talk to a real estate agent in Frisco
That's where I come in. I'd like to book a time to get together with you and speak with you about why you want to buy a home and get an idea of your upcoming plans. We'll talk about the mortgage industry, other economic factors that might affect your purchase today or in the future, as well as neighborhoods and school districts in the Frisco area.
In addition, I'll assist you in getting started on your loan. I work with some of Frisco's finest mortgage professionals, so you can rest assured that you're in great hands. They can help you figure out which type of loan is best for you, as well as help you get approved.
Step 3 – Begin looking for a house
After our initial meeting, I'll start finding homes on the market that are a good fit for you. I'll research many of the homes and exclude the duds, and then we'll schedule appointments to view the homes at a time that's convenient for you.
When we tour houses, I'll point out positive features, as well as bad ones. I'll also ask you what things you like and dislike. It's pretty common for buyers to change their wish list as we view homes and some features become more important than others. If such is the case, I'll look through the listings another time and trim it down to the house you've been waiting for.
Step 4 – Know the market
Your agent's knowledge of the Frisco housing market is a crucial component in your house search. And I assure you I'm acquainted with all the schools and neighborhoods, and I'll alert you to which districts are "hot" and call for prompt action and the rest that are "cool" and allow for thoughtful consideration.
When we view homes, I'll be sure to tell you when the list price has room for negotiation and also when I trust the home is "priced to sell." Every real estate agent in Frisco will claim to truly understand the market, but be on guard, and make sure you ask plenty of questions. If things don't add up, just call me at 972-612-2277 (Direct) or e-mail me at email@example.com, and I'll be happy to answer any questions you might have. My market knowledge will help you stay a step above the rest through the entire process.
Step 5 – Find the house you've been looking for
I'm certain we'll find the home of your dreams in the Frisco area, and when we do, I'll precisely develop your purchase offer. The offer will be tailored exactly to your needs. Whenever necessary, I never forget to make contracts contingent upon items like obtaining financing and the results of the home inspection.
When turning in your offer, most likely you'll need to present "earnest money." This is a cash deposit made to a seller to secure an offer to buy the property, and it's typically applied to the cost of closing. If the offer is accepted by the seller, we should close about 30 to 60 days after. This allows ample time for your mortgage financing.
Step 6 – Negotiate
Unfortunately most deals don't close on the beginning offer – it's widely common to receive a counter offer. Don't let this alarm you. We'll figure out whether or not to consent to the counter offer, submit our own counter offer, or decline the seller's offer and go on.
How aggressively we negotiate the contract depends on the state of the market. 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 your loan
Upon finalizing the deal, you'll start working with your lender to close the loan. It won't take very long at all if you're pre-approved, but you should to keep in close contact with your mortgage lender. And I'll sort out all the property information your lender needs to close the loan.
Step 8 – Close the deal
Your mortgage lender will send you a Good Faith Estimate (GFE) of closing costs within three days of receiving your loan application. This estimate depends on the loan amount, and RESPA requirements mandate that it has to contain all closing costs and fall within a strict range of accuracy. I'll examine the estimate and let you know if everything looks okay.
Then we'll close on your house. This should happen at a title company or escrow office and should be a smooth and pleasant affair.
Step 9 – Move in
Success! Now you can move into your new home. Enjoy it. And if you need anything or have any questions, simply contact me at 972-612-2277 (Direct) or send me an e-mail.