Buying or selling a home?
Purchasing a home is intimidating for most people, but with some up-front planning, it's not that difficult.
So you understand exactly what to expect, we like to supply our buyers with a road map of the entire deal.
Here are our nine steps to buying a home.
When you're ready to get started, you can contact us here or send us e-mail
. We're glad to address any questions you have about this information.
Step 1 - Prepare to buy
There are plenty of things you need to consider prior to starting your home search.
It's likely that you'll want to put together an outline of items you want, get a feel for what neighborhoods and school districts you'd like to live in, and start planning around your budget.
Ensuring your mortgage payment is no more than a third of your monthly income is a good guideline to go by.
Step 2 - Speak with a real estate agent
This is where we come in.
We'd be more than happy to book a time to meet with you and communicate with you regarding why you want to buy a home and get an idea of your plans for the future.
We'll talk about the mortgage industry, other economic factors that may potentially affect your buying decision today or in the future, as well as neighborhoods and schools in the Yukon area.
We'll also help you begin the loan process.
There are some great mortgage professionals in the metro, and we partner with a lot of them, so you can rest assured that you're in great hands.
They will help you figure out which kind of loan is best for you, as well as help you get approved.
Step 3 - Start house-hunting
After our first meeting, we'll start searching for homes on the market that best suit you.
We'll research many of the homes and throw out the bad ones, and then we'll schedule appointments to view the houses at a time that's convenient for you.
As we tour the houses, we'll call attention to positive features and negative ones. we'll even ask you about things you like and dislike.
For the most part, buyers change their must-have list as we view homes and some features become more important than others.
If such is the case, we'll go back through all the listings again and narrow it down to the house you've been waiting for.
Step 4 - Understand the housing market
An agent's understanding of the Yukon market is a fundamental component in your home search. And we assure you we're well-versed in all the neighborhoods and schools, and we can communicate certain areas are "hot" and warrant prompt action and the rest that are "cold" and allow for more analysis.
When we tour homes, we'll make sure to communicate if the seller's asking price has room for negotiation or if I believe the house is "priced to sell."
When working with an agent, trust your instincts and make sure you ask lots of questions, as any real estate agent in Yukon will claim to understand the home market.
If things don't add up, contact us at (405) 414-2433 or e-mail us at HomesWithLeah@gmail.com, and we'll be happy to answer any questions you may have. Our market knowledge will keep you a step ahead through the entire process.
Step 5 - Find your dream house
We know we'll find your dream home in the Yukon metro. When that happens, we'll meticulously develop your home purchase offer. The offer will be tailored to suit your needs, including a lot of contingencies. A few examples are getting financing, completing the inspection, and a clear title.
When submitting your purchase offer, most likely you'll need to present "earnest money." This is a cash deposit submitted to the seller (and held by the title company or listing brokerage) to secure an offer to buy the property, and it's usually applied to the cost of closing. If your offer is accepted by the seller, we should close on the home about 30 to 60 days after. This allows sufficient time for your mortgage financing.
Step 6 - Negotiate the deal
Unfortunately most deals aren't closed on the initial offer. It's extremely common to receive a counter offer. Don't let this discourage you. We'll talk about whether or not to accept the counter offer, present our own counter offer, or refuse the seller's offer and go on.
How aggressively we negotiate the deal depends on the state of the market.
We'll also work within your budget. And at the end of the day, we'll create a contract that is best for you.
Step 7 - Obtain your loan
After we sign the final contract, you'll begin working with your lender to close the loan.
If you've been pre-approved, it won't be a long process at all, but you should to stay in close contact with your lender.
And we'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) of closing costs from your mortgage lender within three days of receiving your loan application.
This estimate rests on the loan amount. RESPA requirements require that it has to include all closing costs and be within a narrow range of accuracy, and we'll study the estimate and let you know if it all looks all right.
Then we'll close on your house. This will happen at a title company and will probably be a smooth and easygoing occasion.
Step 9 - Move in
Success! It's time to move into your new home. Enjoy it. And if you have any questions, just call us at (405) 414-2433 or send us an e-mail.