Buying or selling a home?

With some planning ahead of time, purchasing a home isn't that confusing, but the event is stressful for a lot of people. I like to furnish buyers with an outline of the entire deal so they'll understand exactly what to expect. Here are my nine steps to buying 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 – Get ready to buy
Prior to starting your home search, there are a lot of things you'll want to take into account. When you start your search, you'll probably want to make a checklist of features you need, plan for what school districts you'd like to live in, and begin planning your budget. A good rule of thumb to adhere to is that your mortgage payment should be 30 percent of your monthly income.

Step 2 – Communicate with a real estate agent
That's where I come in. I'd like to book a time to get together with you and communicate with you regarding your real estate needs and get an idea of your plans for the future. We'll discuss everything from neighborhoods, school districts in the Edmond area, the mortgage and housing industries, to any other economic factors that could potentially affect your purchase today or in the future.

In addition, I'll help you start the loan process. There are some very good mortgage professionals in Edmond, and I work with a lot of them, so you can rest assured that you're in great hands. They'll assist you with determining which kind of loan is best for you and help you get qualified.

Step 3 – Begin house-hunting
After our initial meeting, I'll begin finding homes on the market that suit your needs. I'll get a sneak peek of most of the homes and reject the bad ones, and then we'll book appointments to tour the houses when it's convenient for you.

When we view homes, I'll identify good features, as well as bad ones. And I'll ask you about things you like and don't like. It's pretty common for buyers to update their list of must-haves as we tour homes and some items become far more substantial than others. If that's the situation, I'll look through all the listings one more time and trim it down to the house you've been dreaming about.

Step 4 – Understand the housing market
An agent's awareness of the Edmond home market is a necessary agent in your house search. And I assure you I'm conscious of all the neighborhoods and school districts, and I'll communicate what areas are "hot" and call for immediate action and some that are "cold" and allow for more examination.

When we view homes, I'll let you know when the list price has room for bargaining and when I think the house is "priced to sell." When working with an agent, be mindful and make sure you ask lots of questions, as any real estate agent in Edmond will claim to understand the market. If it seems like they don't know everything, just call me at 405-340-4224 or e-mail me at , and I'd be glad to answer any questions you might have. My market knowledge will help you stay a step ahead throughout the entire process.

Step 5 – Find the home you've been looking for
I'm confident we'll find the house of your dreams in Edmond. When that happens, I'll precisely develop your purchase offer. The offer will be tailored to suit your needs and the home, including a lot of contingencies, such as acquiring financing, carrying out the home inspection, and a clear title.

When turning in your offer, you'll need to present "earnest money." This is a cash deposit submitted to the home seller to secure an offer to purchase the property and is usually applied to the closing costs. If the seller accepts your offer, we should close on the home within 30 to 60 days after. This allows enough time for your mortgage financing.

Step 6 – Negotiate
Most contracts aren't closed on the initial offer, and it's very common to receive a counter offer. Don't let it discourage you. We'll discuss whether or not to take the counter offer, present our own counter offer, or reject the seller's offer and go on.

How aggressively we negotiate the contract depends on the state of the market. In addition, we'll work within your budget. And when it's all said and done, we'll create a contract that's best for you.

Step 7 – Get financing
Upon finalizing the contract, you'll begin working with your mortgage lender to close the loan. It won't take long at all if you're pre-qualified, but you'll want to stay in close contact with your lender. And I'll deal with all the property information your mortgage lender needs to close the loan.

Step 8 – Close the deal
Your lender will send you a Loan Estimate (LE) outlining your closing costs within three days of getting your application. You'll get a Loan Estimate (LE) detailing your closing costs from your mortgage lender within three days of taking your application. The estimate rests on the loan amount, and RESPA requirements dictate that it has to include all closing costs and fall within a strict range of accuracy. I'll analyze the estimate and let you know if everything looks okay.

Then we'll close on your home. This will most often take place at a title company or escrow office and will most likely be a smooth and peaceful occasion.

Step 9 – Move in
Congratulations! Now you can move into your new house. Enjoy it. And if you have any questions, make sure you contact me at 405-340-4224 or e-mail me at .