Buying or selling a home in San Antonio? Premier Realty Group can help.Purchasing a home is a stressful event for many people, but it isn't too complicated with a little up-front planning. I like to provide buyers with an overview of the whole deal so they'll understand exactly what to expect. These are my nine steps to purchasing a home.
|Shopping for homes? Click here to see my homes, or contact me today to get you more information on any home in the area.|
Step 1 – Get ready to purchase
Before you commence your home search, there are a lot of things you'll want to consider. When you begin your search, you'll probably want to create an outline of features you need, get a feeling for what neighborhoods you want to live in, and start planning your budget. A good rule to follow is that your mortgage payment should be less than or around 1/3 of your net monthly income.
Step 2 – Get in touch with a real estate agent in San Antonio
This is where I come in. I'll plan a time to meet so we can talk about why you want to buy a home and get an idea of your future plans. We'll talk about the mortgage industry, other economic factors that might affect your purchase today or in the future, as well as neighborhoods and school districts in the San Antonio area.
I'll also help you begin the loan process. There are some great mortgage professionals in San Antonio, and I work with a lot of them, so you're in great hands. They can help you figure out which type of loan is best for you, as well as help you get approved.
Step 3 – Start house-hunting
After our first meeting, I'll begin searching for houses on the market that best suit you. I'll research most of the houses and remove the bad ones, and then we'll book appointments to tour the homes when it's most convenient for you.
As we view the houses, I'll point out good features and bad ones. And I'll ask you what things you like and dislike. Oftentimes, buyers amend their list of must-haves as we view houses and some features become far more substantial than others. If such is the case, I'll search all the listings again and trim it down to the house you've been dreaming about.
Step 4 – Understand the housing market
Your agent's awareness of the San Antonio market is an imperative element in your house search. And I assure you I'm conscious of all the schools and neighborhoods, and I'll communicate certain districts are "hot" and require prompt action and the rest that are "cool" and allow for thoughtful consideration.
As we view houses, I'll let you know when the seller's list price has room for bargaining and also when I think the home is "priced to sell."
When working with an agent, be careful and make sure you ask lots of questions. Every REALTOR® in San Antonio will tell you they truly understand the housing market.
If things don't add up, just call me at 210-601-0201 or e-mail me at firstname.lastname@example.org, and I'll be glad to answer any questions you might have. My market knowledge will keep you a step ahead through the entire deal.
Step 5 – Find the house you've been looking for
I'm positive we'll find the home of your dreams in San Antonio, and when that happens, I'll precisely create your real estate purchase offer. The offer will be made exactly to your needs. Whenever necessary, I never forget to make contracts contingent upon items like acquiring financing and the results of the home inspection.
When sending in your offer, most likely you'll need to submit "earnest money." This is a cash deposit given to a home seller to secure the offer to buy the property, and it's usually applied to the closing costs. If your offer is accepted by the seller, we should close about 30 to 60 days after. This allows enough time for your mortgage financing.
Step 6 – Negotiate
A lot of contracts don't close on the beginning offer, and it's extremely common to receive a counter offer. But don't let it discourage you. We'll consider whether or not to accept the counter offer, submit our own counter offer, or reject the seller's offer and go on.
The state of the market determines how aggressively we negotiate the deal. In addition, we'll work within your financing constraints. And when it's all said and done, we'll assemble a deal that's best for you.
Step 7 – Obtain a loan
Upon finishing the deal, you'll start working with your lender to close the loan. It won't take much time at all if you're already pre-qualified, but you'll 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) detailing closing costs from your lender within three days of getting your loan application. The estimate rests on the loan amount, and RESPA requirements order that it has to contain all closing costs and fall within a precise range of accuracy. I'll go over the estimate and let you know if it all looks adequate.
Then it's time to close on your home. This should occur at a title company or escrow office and will likely be a smooth and comfortable occasion.
Step 9 – Move in
Congratulations! It's time to move into your new home. Enjoy it. And if you have any questions, just call me at 210-601-0201 or send me an e-mail.