Buying a home is stressful for a lot of people. However, with a little planning ahead of time, it's not too hard.
I like to supply buyers with an overview of the whole deal so they know exactly what to expect.
Here are my nine steps to buying a home.
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Should you have questions regarding any of this information or if you're ready to get started, just contact me here or e-mail me at kuduzovic4@yahoo.com.
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Step 1 – Prepare to purchase
Before you start searching for a home, there are a lot of things you need to take into account.
When you begin your search, you'll probably want to form an outline of features you want, get a feeling for what neighborhoods you want to live in, and begin planning around your budget.
Ensuring your mortgage payment is around 30 percent of your monthly income is a good guideline to go by.
Step 2 – Contact a real estate agent
That's where I can help.
We'll book a time to meet so we can talk about your real estate needs and get an idea of your plans for the future.
We'll talk about the mortgage industry, other economic factors that may affect your buying decision today or in the future, as well as neighborhoods and schools in the Sandy area.
I can also assist you in getting started on your loan.
Principal Realty Group Utah works with some of Sandy's best mortgage professionals, so you can rest assured that you're in great hands.
They'll help you decide which kind of loan is best for you, as well as help you get approved.
Step 3 – Start your home search
Following our initial meeting, I'll start finding available houses on the market that are a great fit for you.
I'll get a sneak peek of many of the houses and reject the bad ones, and then we'll schedule appointments to view the houses when it's convenient for you.
When we view homes, I'll point out positive features and bad ones. I'll also ask you about things you like and dislike.
It's pretty common for buyers to revise their wish list as we tour homes and some features become more necessary than others.
If such is the case, I'll search the listings again and trim it down to the home you've been waiting for.
Step 4 – Understand the market
My knowledge of the Sandy housing market is an essential advantage in your house search. I am acquainted with all the neighborhoods and school districts, and I can let you know what districts are "hot" and warrant prompt action and the ones that are "cool" and allow for more examination.
As we view houses, I'll make sure to communicate if the list price has room for negotiation or if I believe the home is "priced to sell."
Be on guard and make sure you ask your agent lots of questions, as any real estate agent in Sandy will tell you they truly know the market.
If it appears they don't know everything, just call me at 801-898-4964 or e-mail me at kuduzovic4@yahoo.com, and I'd be more than happy to answer any questions you may have. My understanding of the market will keep you a step above the rest through the entire process.
Step 5 – Find your dream home
I'm positive we'll find your dream house in the Sandy area. When that happens, I'll carefully create your purchase offer. The offer will be tailored with your needs in mind, including several contingencies. A few examples are obtaining financing, carrying out the inspection, and a clean title.
When turning in your offer, you'll likely need to submit "earnest money." This is a cash deposit given to a seller to secure the offer to purchase the property. The amount is most often applied to the closing costs. If the seller accepts the offer, we should close about 30 to 60 days afterward. This allows sufficient time for your mortgage financing.
Step 6 – Negotiate the deal
A lot of contracts aren't closed on the initial offer, and it's widely common to receive a counter offer. But don't let it discourage you. We'll figure out whether or not to consent to the counter offer, submit our own counter offer, or refuse the seller's offer and go on.
The state of the market determines how aggressively we negotiate the contract.
We'll also work within your financing constraints. And when it's all said and done, we'll formulate a contract that's best for you.
Step 7 – Get your loan
Once we sign the final deal, you'll begin working with your mortgage lender to close the loan.
This won't take long at all if you're pre-qualified, but you'll need to keep in close contact with your lender.
And I'll handle all the property information your lender will need to close the loan.
Step 8 – Close the deal
Your lender will supply you with a Good Faith Estimate (GFE) detailing your closing costs within three days of taking your loan application. You'll get a Good Faith Estimate (GFE) of your closing costs from your lender within three days of getting your application.
The estimate is based on the loan amount. RESPA requirements order that it has to include all closing costs and be within a strict range of accuracy, and I'll study the estimate and let you know if everything looks good.
Then we'll close on your house. This will most often take place at a title company or escrow office and will likely be a smooth and comfortable occurrence.
Step 9 – Move in
You made it! It's time to move into your new home. Enjoy it. And if you need anything or have any questions, simply call me at 801-898-4964 or send me an e-mail.
