Are you buying a new home in Edmond? Coldwell Banker Mike Jones Company can help.
With some up-front planning, buying a home isn't all that confusing, but the event can be stressful for many people.
So they'll know exactly what to expect, I'll give buyers an outline of the entire deal.
Below are my nine steps to purchasing a home.
If you have any questions regarding any of this information or if you're ready to get started, you can contact me here or e-mail me at .
There are many things you'll want to do prior to beginning your home search. When you begin your search, you'll probably want to make a checklist of items you want, get an idea of what school districts and neighborhoods you want to live in, and begin planning your budget. Keeping your mortgage payment less than 1/3 of your net monthly income is a good rule of thumb to follow. Step 2 – Contact a real estate agent
That's where I come in. We can schedule a time to meet so we can talk about why you want to buy a home and get an idea of your plans for the future. We'll talk about neighborhoods, schools in the Edmond area, the mortgage industry, and any other economic factors that may potentially affect your buying decision today or in the future.
I'll also help you begin the loan process. There are some great mortgage professionals in Edmond, and I partner with a lot of them, so you can rest assured that you're in great hands. They will assist you in figuring out which kind of loan is best for you and help you get approved.
Step 3 – Begin looking for a house
Following our initial meeting, I'll begin searching for available homes on the market that best suit you. I'll research many of the homes and eliminate the bad ones, and then we'll set up appointments to tour the homes when it's convenient for you.
When we view homes, I'll call attention to good features and bad ones. I'll also ask you about things you like and dislike. Oftentimes, buyers change their list of must-haves as we view houses and some features become far more crucial than others. If such is the case, I'll search all the listings once again and narrow it down to the house you've been waiting for.
Step 4 – Get a grasp of the market
An agent's understanding of the Edmond home market is a necessary agent in your house search. And I can assure you I'm mindful of all the neighborhoods and school districts, and I can communicate certain neighborhoods are "hot" and demand prompt action and the ones that are "cool" and allow for more analysis.
When we view houses, I'll make sure to communicate when the seller's list price has room for negotiation and when I think the house is "priced to sell."
Any REALTOR will claim to comprehend the market, but take notice, and make sure you ask your agent plenty of questions.
If things don't add up, contact 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 keep you a step above the rest throughout the entire deal.
Step 5 – Find the house you've been looking for
I'm confident we'll find the house of your dreams in Edmond. When that happens, I'll meticulously create your purchase offer. The offer will be tailored exactly to your needs and the home, including several contingencies. A few examples are getting financing, completing the home inspection, and a clean title.
Step 6 – Negotiate the deal
A lot of deals don't close on the first offer – it's really common to receive a counter offer. Don't let this intimidate you. We'll consider whether or not to take the counter offer, propose our own counter offer, or decline the seller's offer and move on.
Step 7 – Secure a loan
After we sign the final contract, you'll start working with your mortgage lender to close the loan. It shouldn't be a long process at all if you've been pre-approved, but you should to stay in close contact with your mortgage lender. And I'll handle all the property information your lender needs to close the loan.
Step 8 – Close the deal
Your mortgage lender will send you 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 mortgage lender within three days of getting your loan application. The estimate is formed from the loan amount, and RESPA requirements dictate that it has to include all closing costs and fall within a precise range of accuracy. I'll analyze the estimate and let you know if everything looks good.
Step 9 – Move in
Congratulations! Now you can move into your new house. Enjoy it. And if you need anything, simply call me at 405-340-4224 or e-mail me at .