With a little planning ahead of time, purchasing a home isn't all that complicated, but the event intimidates a lot of people. So you know exactly what to expect, I like to provide my buyers with an outline of the entire deal. These are my nine steps to purchasing a home.
 |
 |
 |
If you have questions about this information or if you're ready to get started, simply contact me here or e-mail me at jn@acqua.us. |
|
|
|
|
Step 1 – Get ready to purchase a home
There are plenty of things you should take into account prior to starting your home search. When you start your search, you'll want to create a checklist of features you want, get an idea of what school districts you want to live in, and begin working on your budget. Keeping your mortgage payment around 1/3 of your monthly income is a good guideline to go by.
Step 2 – Contact a real estate agent in MIAMI
This is where AcQua INTERNATIONAL REALTY comes in. We can set up a time to get together 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 and housing industries, other economic factors that could potentially affect your purchase today or in the future, as well as neighborhoods and schools in the MIAMI area.
I'll also assist you with getting started on your loan. AcQua INTERNATIONAL REALTY partners with some of MIAMI's best mortgage professionals, so you'll be in great hands. They'll assist you with deciding which kind of loan is best for you and help you get qualified.
Step 3 – Begin your home search
After our initial meeting, I'll start searching for available houses on the market that are a good fit for you. I'll get a sneak peek of many of the houses and ignore the bad ones, and then we'll book appointments to tour the homes at a time that's convenient for you.
When we view the homes, I'll show you the positive features and bad ones. I'll even ask you to tell us about things you like and dislike. Usually, buyers update their must-have list as we view houses and some things become far more important than others. If that happens, I'll search all the listings once more and narrow it down to the house you've been waiting for.
Step 4 – Get a grasp of the housing market
An agent's knowledge of the MIAMI housing market is an essential aspect in your home search. And I assure you I'm conscious of all the neighborhoods and school districts, and I will let you know which districts are "hot" and call for prompt action and some that are "cool" and allow for careful analysis.
When we tour homes, I'll make sure to communicate when the seller's asking price has room for negotiation and also when I believe the house is "priced to sell." Be mindful and make sure you ask your agent a lot of questions, as any REALTOR® will claim to know the housing market. If things don't add up, just call me at (305) 9388055 or e-mail me at jn@acqua.us, and I'd be glad to answer any questions you have. My market knowledge will help you stay a step ahead through the entire deal.
Step 5 – Find the house you've been looking for
I'm positive we'll find the house of your dreams in MIAMI. When that happens, I'll meticulously develop your home purchase offer. The offer will be tailored keeping your needs in mind, including some contingencies, such as acquiring financing, carrying out the home inspection, and a clean title.
When sending in your offer, you'll want to present "earnest money." This is a cash deposit given to the seller to secure an offer to purchase the property and is most often put towards the closing costs. If the seller accepts the offer, we should close on the home within 30 to 60 days afterward. This allows necessary time for your mortgage financing.
Step 6 – Negotiate
A lot of contracts don't close on the initial offer. It's widely common to receive a counter offer. Don't let this discourage you. We'll figure out whether or not to consent to the counter offer, submit our own counter offer, or decline the seller's offer and move on.
The state of the market will play a large role in how aggressively we negotiate the deal. We'll also work within your financing budget. And when it's all said and done, we'll compose a contract that works well for you.
Step 7 – Secure financing
After the contract is finished, you'll start working with your lender to close the loan. If you've been pre-approved, it won't take very long at all, but you'll want to keep in close contact with your lender. And I'll take care of all the property information your mortgage lender needs to close the loan.
Step 8 – Close the deal
You'll get a Good Faith Estimate (GFE) outlining 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 involve all closing costs and be within a tight range of accuracy. I'll examine the estimate and let you know if it all looks okay.
Then we'll close on your house. This will probably happen at a title company or escrow office and should be a smooth and peaceful event.
Step 9 – Move in
Success! It's time to move into your new home. Enjoy it. And if you have any questions, just call me at (305) 9388055 or send me an e-mail.
