Buying your home in Boca Raton
Purchasing a home intimidates many people, but it's not that confusing with a little planning ahead of time.
So you know exactly what to expect, I like to provide my buyers with an outline of the whole deal.
These are my nine steps to purchasing a home.
If you have any questions about any of this information or if you're prepared to get started, simply contact me here or send e-mail to Capitalew@gmail.com
Step 1 – Prepare to purchase a home
There are plenty of things you need to consider prior to beginning your home search.
You'll want to create an index of must-haves, get a feeling for what school districts and neighborhoods you want to live in, and begin planning your budget.
Ensuring your mortgage payment is no more than 30 percent of your net monthly income is a good principle to go by.
Step 2 – Talk to a real estate agent in Boca Raton
That's 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 plans for the future.
We'll discuss neighborhoods, schools in the Boca Raton 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 facilitate the loan process.
I partner with some of the best mortgage professionals in Boca Raton, so you're in great hands.
They'll assist you with determining which type of loan is best for you and help you get qualified.
Step 3 – Start looking for a home
Following our initial meeting, I'll start searching for houses on the market that meet your needs.
I'll research most of the homes and ignore the duds, and then we'll book appointments to tour the homes when it's convenient for you.
As we view homes, I'll show you the positive features and negative ones. And I'll ask you what things you like and dislike.
It's pretty common for buyers to update their wish list as we view homes and some items become more crucial than others.
If that happens, I'll search the listings one more time and trim it down to the home you've been dreaming about.
Step 4 – Get a grasp of the housing market
An agent's knowledge of the Boca Raton home market is a crucial component in your house search. And I can assure you I'm informed of all the neighborhoods and schools, and I can let you know which areas are "hot" and demand immediate action and the ones that are "cold" and allow for more consideration.
When we tour homes, I'll let you know when the seller's list price has room for bargaining and when I believe the home is "priced to sell."
Every real estate agent in Boca Raton will tell you they truly understand the market, but be wary, and make sure you ask your agent lots of questions.
If it appears they don't know everything, just call me at (561) 395-5599 or e-mail me at Capitalew@gmail.com, and I'll be glad to answer any questions you might have. My understanding of the market will help you stay a step above the rest through the entire deal.
Step 5 – Find the house you've been looking for
I'm certain we'll find the home of your dreams in Boca Raton. When that happens, I'll meticulously develop your purchase offer. The offer will be tailored with your needs in mind, including some contingencies. A few examples are getting financing, completing the inspection, and a clean title.
Upon turning in your offer, most likely you'll want to submit "earnest money." This is a cash deposit given to a home seller to secure the offer to purchase the property. The amount is typically put towards the closing costs. If your offer is accepted, we should close on the property about 30 to 60 days afterward. This allows necessary time for your mortgage financing.
Step 6 – Negotiate
Most contracts don't close on the first offer, and it's pretty common to receive a counter offer. Don't let this discourage you. We'll figure out whether or not to accept the counter offer, present our own counter offer, or reject the seller's offer and go on.
Market conditions will play a part in how aggressively we negotiate the contract.
In addition, we'll work within your budget. And at the end of the day, we'll put together a contract that works well for you.
Step 7 – Get a loan
Upon completing the contract, you'll begin working with your mortgage lender to close the loan.
If you're already pre-approved, it shouldn't be a long process at all. But you need to stay in close contact with your lender.
And I'll deal with all the property information your mortgage lender will need to close the loan.>
Step 8 – Close the deal
You'll get a Good Faith Estimate (GFE) outlining your closing costs from your mortgage lender within three days of getting your application.
The estimate is based on the loan amount, and RESPA requirements mandate that it has to involve all closing costs and be within a strict range of accuracy. I'll study the estimate and let you know if everything looks permissible.
Then it's time to close on your house. This will likely happen at a title company or escrow office and will likely be a smooth and hassle-free affair.
Step 9 – Move in
Congratulations! Now you can move into your new home. Enjoy it. And if you need anything, make sure you call me at (561) 395-5599 or send me an e-mail.