Buying or selling a home in the Austin area? Gallagher Realty Co can help.
With a little up-front planning, buying a home isn't very difficult, but the event is stressful for a lot of people. So you understand exactly what to expect, I like to provide my buyers with an overview of the entire deal. Below are my nine steps to buying a home.
If you have questions about any of this information or if you're ready to get started, just contact me here or send e-mail to firstname.lastname@example.org.
Step 1 – Prepare to purchase
Before you commence your home search, there are plenty of things you'll want to take into account. You'll probably want to create a check list of must-haves, get a feel for what neighborhoods and school districts 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 monthly income is a good principle to follow.
Step 2 – Talk to a real estate agent
This is where I come in. I can book a time to get together so we can talk about your real estate needs and get an idea of your upcoming plans. We'll discuss the mortgage industry, other economic factors that could affect your purchase today or in the future, as well as neighborhoods and school districts in the Austin area.
I can also help you start the loan process. There are some excellent mortgage professionals in Austin area, and I work with a lot of them, so you're in great hands. They will help you decide which type of loan is best for you, as well as help you get approved.
Step 3 – Start your search
After we meet for the first time, I'll begin finding available houses on the market that are great for you. I'll preview many of the houses and eliminate the bad ones, and then we'll set up appointments to tour the houses when it's convenient for you.
When we tour the houses, I'll call attention to positive features and bad ones. And I'll ask you what things you like and don't like. It's common for buyers to amend their list of must-haves as we view houses and some features become more important than others. If that's the case, I'll look through all the listings again and narrow it down to the house you've been waiting for.
Step 4 – Understand the housing market
My knowledge of the Austin area home market is an essential asset in your search. I'm conscious of all the neighborhoods and schools, and I can let you know what neighborhoods are "hot" and warrant prompt action and the others that are "cold" and allow for more consideration.
As we tour homes, I'll let you know when the seller's list price has room for negotiation and also when I believe the home is "priced to sell." When working with an agent, trust your instincts and be sure to ask a lot of questions. Any REALTOR® in the Austin area will convince you they know the housing market. If things don't add up, call me at (512) 607-6350 or e-mail me at email@example.com, and I'll be happy to answer any questions you have. My understanding of the market will keep you a step above the rest through the entire process.
Step 5 – Find the house you've been looking for
I'm sure we'll find your dream home in Austin area. When that happens, I'll carefully create your real estate purchase offer. The offer will be tailored exactly to your needs, including several contingencies, such as getting financing, finishing the home inspection, and a clear title.
When presenting your offer, you'll need to submit "earnest money." This is a cash deposit given to the seller to secure the offer to purchase the property and is usually applied to the closing costs. If the offer is accepted, we should close on the home about 30 to 60 days afterward. This allows plenty of time for your mortgage financing.
Step 6 – Negotiate
Most contracts aren't closed on the beginning offer. It's extremely common to receive a counter offer. But don't let this alarm you. We'll talk over whether or not to agree to the counter offer, propose our own counter offer, or decline the seller's offer and go on.
The state of the market will play a vital role in how aggressively we negotiate the deal. We'll also work within your financing limits. And at the end of the day, we'll put together a contract that's best for you.
Step 7 – Get financing
After the deal is finished, you'll start working with your mortgage lender to close the loan. If you're already pre-qualified, it shouldn't be a long process at all. However, you should to stay in close contact with your lender. And I'll manage all the property information your mortgage lender needs to close the loan.>
Step 8 – Close the deal
Your lender will supply you with a Good Faith Estimate (GFE) of your closing costs within three days of taking your loan application. The estimate rests on the loan amount. RESPA requirements order that it has to involve all closing costs and be within a precise range of accuracy, and I'll examine the estimate and let you know if everything looks all right.
Then it's time to close on your house. This will probably happen at a title company or escrow office and should be a smooth and stress-free occurrence.
Step 9 – Move in
You made it! Now you can move into your new home. Enjoy it. And if you need anything or have any questions, simply contact me at (512) 607-6350 or send me an e-mail.