Buying or selling a home in Austin?
Buying a home is stressful for most people, but with a bit of up-front planning, it's not too hard.
So they'll understand exactly what to expect, I like to give buyers an outline of the entire deal.
Below are my nine steps to purchasing a home.
When you're ready to get started, just contact me here or e-mail me at . I'm happy to address any questions you have regarding this information.
Step 1 – Get ready to purchase
Before you start searching for a home, there are a lot of things you need to contemplate.
You'll probably want to form a checklist of items you need to have, plan for what school districts you want to live in, and start planning around your budget.
Keeping your mortgage payment less than 1/3 of your net monthly income is a good principle to go by.
Step 2 – Communicate with a real estate agent in Austin
That's where I come in.
I'd be happy to book 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 discuss neighborhoods, schools in the Austin area, the mortgage and housing industries, and any additional economic factors that might affect your purchase today or in the future.
In addition, I'll help you facilitate the loan process.
There are some very good mortgage professionals in Austin, and I work with a lot of them, so you can rest assured that you're in great hands.
They can assist you in determining which kind of loan is best for you and help you get approved.
Step 3 – Begin your home search
After our first meeting, I'll start looking for houses on the market that are a good fit for you.
I'll research many of the houses and exclude the bad ones, and then we'll set up appointments to view the houses whenever it's most convenient for you.
As we view houses, I'll call attention to good features, as well as bad ones. And I'll ask you to talk about things you like and don't like.
It's pretty common for buyers to change their list of must-haves as we tour houses and some items become far more essential than others.
If such is the case, I'll go back through all the listings again and trim it down to the house you've been waiting for.
Step 4 – Comprehend the housing market
My awareness of the Austin housing market is a leading element in your home search. I'm familiar with all the school districts and neighborhoods, and I'll let you know some neighborhoods are "hot" and require immediate action and some that are "cold" and allow for more examination.
As we view homes, I'll make sure to communicate if the seller's list price has room for negotiation or if I believe the home is "priced to sell."
When working with an agent, trust your instincts and make sure you ask plenty of questions. Every REALTOR in Austin will claim to know the housing market.
If things don't add up, contact me at 512-834-1600 or e-mail me at , and I'd be glad to answer your questions. My market knowledge will help you stay a step above the rest through the entire process.
Step 5 – Find the house of your dreams
I'm sure we'll find your dream home in the Austin area. When we do, I'll carefully develop your real estate purchase offer. The offer will be made to fit your needs and the home. We'll include many contingencies, such as getting financing, carrying out the home inspection, and a clean title.
When we send in your purchase offer, 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. The amount is usually put towards the closing costs. If the seller accepts the offer, we should close about 30 to 60 days afterward. This allows plenty of time for your mortgage financing.
Step 6 – Negotiate
Most deals aren't closed on the beginning offer. It's extremely common to receive a counter offer. But don't let it intimidate you. We'll talk about whether or not to consent to the counter offer, submit our own counter offer, or reject the seller's offer and go on.
Market conditions determine how aggressively we negotiate the contract.
In addition, we'll work within your financing budget. And at the end of the day, we'll compose a contract that works well for you.
Step 7 – Get your loan
Once we sign the final sales contract, you'll begin working with your mortgage lender to close the loan.
This shouldn't be a long process at all if you're pre-approved, but you need to keep in close contact with your mortgage lender.
And I'll care for all the property information your mortgage lender will need to close the loan.
Step 8 – Close the deal
You'll get a Loan Estimate (LE) outlining closing costs from your lender within three days of taking your loan application.
This estimate is formed from the loan amount. RESPA requirements order that it has to contain all closing costs and fall within a precise range of accuracy, and I'll study the estimate and let you know if it all looks all right.
Then it's time to close on your house. This should happen at a title company or escrow office and should be a smooth and hassle-free event.
Step 9 – Move in
Congratulations! Now you can move into your new house. Enjoy it. And if you need anything, simply contact me at 512-834-1600 or e-mail me at .