Contemplating buying your home in New London? Green Real Estate can help.
Purchasing a home is an intimidating event for a lot of people. However, with a little planning ahead of time, it's not all that hard. So you know exactly what to expect, I like to provide my buyers with an outline of the whole deal. Here are my nine steps to buying a home.
When you're ready to get started, you can contact me here or send me e-mail
. I'm happy to address any questions you have about this information.
Step 1 – Prepare to purchase
There are plenty of things you need to take into account before you start looking for a home. When you start your search, you'll want to form a list of features you need, get an idea of what neighborhoods and school districts you want to live in, and begin planning around your budget. Keeping your mortgage payment less than 30 percent of your net monthly income is a good principle to adhere to.
Step 2 – Contact a real estate agent
This is where Green Real Estate can help. I'd like to plan a time to meet with you and talk about your real estate needs and get an idea of your upcoming plans. We'll discuss neighborhoods, schools in the area, the mortgage industry, and any other economic factors that might affect your purchase today or in the future.
I can also help you facilitate the loan process. I partner with some of the finest mortgage professionals in the area, so you're in great hands. They'll help you figure out which kind of loan is best for you, as well as help you get qualified.
Step 3 – Start looking
After our initial meeting, I'll begin searching for available houses on the market that best suit you. I'll get a sneak peek of many of the houses and ignore the bad ones, and then we'll set up appointments to tour the houses at a time that's convenient for you.
When we view houses, I'll identify good features and bad ones. And I'll ask you to tell me about things you like and dislike. It's common for buyers to revise their wish list as we view homes and some features become far more necessary than others. If such is the case, I'll look through the listings once again and narrow it down to the home you've been wishing for.
Step 4 – Get a feel for the market
My awareness of the New London/Lake Sunapee region housing market is an essential resource in your search. I'm acquainted with all the schools and neighborhoods, and I can alert you to which districts are "hot" and require prompt action and the ones that are "cold" and allow for more analysis.
When we view houses, I'll let you know if the list price has room for negotiation or if I believe the home is "priced to sell." Every REALTOR® will convince you they understand the market, but take note, and be sure to ask your agent lots of questions. If things don't add up, just call me at 603-526-2515 (office), 603-454-5961 (cell) or e-mail me at firstname.lastname@example.org, and I'll be more than happy to answer any questions you might have. My market knowledge will keep you a step ahead through the entire process.
Step 5 – Find the home you've been waiting for
I'm positive we'll find your dream home in the New London/Lake Sunapee region, and when we do, I'll carefully create your purchase offer. The offer will be made to suit your needs. Whenever necessary, I never forget to make contracts contingent upon items like acquiring financing and the results of the home inspection.
When we present your offer, you'll probably want to present "earnest money." This is a cash deposit made to the home seller to secure an offer to purchase the property, and it's typically put towards the cost of closing. If the seller accepts your offer, we should close within 30 to 60 days after. This allows necessary time for your mortgage financing.
Step 6 – Negotiate the deal
Unfortunately most contracts don't close on the initial offer. It's very common to receive a counter offer. But don't let this intimidate you. We'll discuss whether or not to accept the counter offer, submit our own counter offer, or decline the seller's offer and move on.
Market conditions determine how aggressively we negotiate the deal. In addition, we'll work within your budget. And at the end of the day, we'll formulate a contract that is best for you.
Step 7 – Get financing
After we sign the final deal, you'll begin working with your lender to close the loan. This shouldn't be a long process at all if you're already pre-qualified, but you'll want to stay in close contact with your lender. And I'll look after all the property information your mortgage lender needs to close the loan.
Step 8 – Close the deal
Your lender will provide you with a Good Faith Estimate (GFE) outlining closing costs within three days of taking your application. The estimate depends on the loan amount, and RESPA requirements mandate that it has to involve all closing costs and fall within a tight range of accuracy. I'll examine the estimate and let you know if it all looks good.
Then it's time to close on your home. This will most often take place at a title company or escrow office and will most often be a smooth and peaceful occasion.
Step 9 – Move in
You made it! It's time to move into your new home. Enjoy it. And if you need anything, just contact me at 603-526-2515 (office), 603-454-5961 (cell) or send me an e-mail.