With a little up-front planning, buying a home isn't very complex, but the event can be stressful for a lot of people. I like to give buyers an outline of the whole deal so they know exactly what they can expect. Below are my nine steps to buying a home.
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When you're ready to get started, simply contact me here or send e-mail to jeff@jeffhillenbrand.com. I'm glad to address any questions you have about this information. |
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Step 1 – Get ready to buy
There are many things you should do before beginning your home search. When you begin your search, you'll probably want to create a checklist of features you need to have, get a feeling for what neighborhoods you want to live in, and begin planning around your budget. Keeping your mortgage payment less than a third of your monthly income is a good guideline to go by.
Step 2 – Contact a real estate agent in Coral Springs/Parkland
That's where I can help. I'd be happy to plan a time to meet with you and communicate with you regarding your real estate needs and get an idea of your plans for the future. We'll talk about the mortgage and housing industries, other economic factors that could affect your purchase today or in the future, as well as neighborhoods and schools in the Coral Springs/Parkland area.
In addition, I'll assist you with getting started on your loan. Jeff Hillenbrand partners with some of the best mortgage professionals in Coral Springs/Parkland, so you're in great hands. They can help you determine which kind of loan is best for you, as well as help you get qualified.
Step 3 – Start looking for a house
After our first meeting, I'll start looking for houses on the market that are good for you. I'll get a sneak peek of most of the homes and throw out the bad ones, and then we'll book appointments to tour the homes whenever it's most convenient for you.
As we view the homes, I'll show you the good features, as well as negative ones. I'll even ask you about things you like and don't like. Generally, buyers update their list of must-haves as we view homes and some things become more essential than others. If that's the case, I'll look through all the listings another time and narrow it down to the house of your dreams.
Step 4 – Get a feel for the housing market
Your agent's awareness of the Coral Springs/Parkland home market is a leading component in your house search. And I can assure you I'm mindful of all the neighborhoods and school districts, and I can communicate certain areas are "hot" and demand immediate action and the ones that are "cool" and allow for more consideration.
When we tour homes, I'll be sure to tell you if the list price has room for negotiation or if I believe the home is "priced to sell." When working with an agent, be mindful and make sure you ask lots of questions, as every REALTOR® in Coral Springs/Parkland will claim to comprehend the market. If it doesn't seem like they know everything, just call me at 954-821-4492 or e-mail me at jeff@jeffhillenbrand.com, and I'll be happy to answer any questions you may have. My market expertise will keep you a step above the rest throughout the entire process.
Step 5 – Find the house of your dreams
I'm sure we'll find the home of your dreams in the Coral Springs/Parkland area. When we do, I'll carefully create your purchase offer. The offer will be tailored to suit your needs, including many contingencies, such as acquiring financing, carrying out the inspection, and a clean title.
Upon presenting your purchase offer, you'll want to submit "earnest money." This is a cash deposit submitted to a seller to secure the offer to purchase the property and is most often applied to the cost of closing. If your offer is accepted by the seller, we should close within 30 to 60 days after. This allows enough time for your mortgage financing.
Step 6 – Negotiate the deal
Most deals aren't closed on the beginning offer, and it's really common to receive a counter offer. Don't let it discourage you. We'll consider whether or not to agree to the counter offer, submit our own counter offer, or refuse the seller's offer and move on.
Market circumstances determine how aggressively we negotiate the contract. In addition, we'll work within your financing limits. And at the end of the day, we'll create a contract that is best for you.
Step 7 – Obtain a loan
Upon finalizing the deal, you'll begin working with your lender to close the loan. This won't take much time at all if you're already pre-qualified, but you'll need to keep in close contact with your lender. And I'll look after all the property information your mortgage lender needs to close the loan.
Step 8 – Close the deal
Your lender will provide you with a Good Faith Estimate (GFE) detailing closing costs within three days of accepting your application. You'll get a Good Faith Estimate (GFE) of closing costs from your mortgage lender within three days of taking your application. This estimate is formed from the loan amount. RESPA requirements order that it has to include all closing costs and fall within a strict range of accuracy, and I'll analyze the estimate and let you know if everything looks all right.
Then we'll close on your house. This will probably take place at a title company or escrow office and is often a smooth and relaxing affair.
Step 9 – Move in
You made it! Now you can move into your new home. Enjoy it. And if you need anything, just contact me at 954-821-4492 or send me an e-mail.
