Contemplating buying your home in Austin?
Purchasing a home is stressful for a lot of people. However, with some up-front planning, it's not very complex.
So they know exactly what to expect, I will give buyers an outline of the whole deal.
These are my nine steps to purchasing a home.
Should you have any questions about any of this information or if you're prepared to get started, simply contact me here or e-mail me at .
Step 1 – Prepare to purchase a home
There are many things you need to consider before starting your home search.
When you begin your search, you'll probably want to create a list of features you need to have, get a plan of what neighborhoods and school districts you want to live in, and start planning around your budget.
Ensuring your mortgage payment is no more than 1/3 of your net monthly income is a good principle to follow.
Step 2 – Get in touch with a real estate agent in Austin
This is where Karp Real Estate Team/Tribe Realty Austin comes in.
I'd love to plan a time to meet with you and communicate with you about your real estate needs and get an idea of your future plans.
We'll discuss the mortgage industry, other economic factors that could potentially affect your buying decision today or in the future, as well as neighborhoods and school districts in the Austin area.
I'll also assist you in getting started on your loan.
I partner with some of the finest mortgage professionals in Austin, 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 – Start looking for a home
Following our first meeting, I'll start finding available houses on the market that suit your needs.
I'll research most of the houses and exclude the duds, and then we'll book appointments to tour the houses whenever it's most convenient for you.
As we view the homes, I'll point out 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 tour houses and some items become more necessary than others.
If that's the case, I'll go back through the listings once again and narrow it down to the home you've been wishing for.
Step 4 – Know the market
My awareness of the Austin housing market is a fundamental component in your home search. I am acquainted with all the school districts and neighborhoods, and I'll let you know what areas are "hot" and warrant prompt action and some that are "cold" and allow for careful analysis.
When we tour houses, I'll let you know if the list price has room for bargaining or if I believe the home is "priced to sell."
Trust your instincts and make sure you ask your agent plenty of questions, as any real estate agent will convince you they understand the home market.
If things don't add up, contact me at 5127753737 or e-mail me at , and I'll be happy to answer your questions. My knowledge of the market will help you stay a step ahead through the entire deal.
Step 5 – Find the home you've been waiting for
I'm confident we'll find the home of your dreams in the Austin area. When that happens, I'll carefully create your home purchase offer. The offer will be tailored to suit your needs and the home, including several contingencies, such as getting financing, completing the inspection, and a clean title.
When turning in your offer, you'll probably want to present "earnest money." This is a cash deposit given to the home seller to secure the offer to purchase the property, and it's most often applied to the cost of closing. If your offer is accepted by the seller, we should close on the property within 30 to 60 days after. This allows ample time for your mortgage financing.
Step 6 – Negotiate the deal
Most contracts aren't closed on the initial offer – it's very common to receive a counter offer. Don't let it discourage you. We'll discuss whether or not to agree to the counter offer, present our own counter offer, or refuse the seller's offer and move on.
The state of the market will play a big part in how aggressively we negotiate the contract.
We'll also work within your financing budget. And at the end of the day, we'll formulate a deal that works well for you.
Step 7 – Get your loan
After the deal is finished, you'll begin working with your mortgage lender to close the loan.
If you've been pre-qualified, it won't take very long at all. But you'll need to keep in close contact with your mortgage lender.
And I'll deal with all the property information your lender needs to close the loan.
Step 8 – Close the deal
Your lender will send you a Loan Estimate (LE) of your closing costs within three days of taking your loan application. You'll get a Loan Estimate (LE) detailing your closing costs from your lender within three days of accepting your loan application.
This estimate is formed from the loan amount, and RESPA requirements mandate that it has to include all closing costs and be within a strict range of accuracy. I'll analyze the estimate and let you know if everything looks all right.
Then it's time to close on your home. This will most likely happen at a title company or escrow office and will probably be a smooth and relaxed event.
Step 9 – Move in
Congratulations! Now you can move into your new house. Enjoy it. And if you need anything, be sure to contact me at 5127753737 or e-mail me at .