Are you buying a home in Moore, Norman, Edmond or Oklahoma City? Andy Janko Realty Ltd. Co. can help.
Purchasing a home is a stressful event for a lot of people. However, with a bit of up-front planning, it isn't too complicated. We like to provide buyers with a road map of the whole deal so they understand exactly what to expect. Here are our nine steps to purchasing a home.
If you have questions regarding this information or if you're prepared to get started, simply contact us here or send e-mail to CindyShannon@cox.net
Step 1 – Get ready to buy a home
There are plenty of things you need to consider prior to commencing your home search. It's likely that you'll want to make an outline of features you need, get an idea of what school districts you'd like to live in, and begin planning around your budget. Keeping your mortgage payment less than 1/3 of your monthly income is a good rule to follow.
Step 2 – Communicate with a real estate agent
This is where Andy Janko Realty Ltd. Co. comes in. We can book a time to meet so we can talk about your real estate needs and get an idea of your upcoming plans. We'll talk about the mortgage and housing industries, other economic factors that may affect your buying decision today or in the future, as well as neighborhoods and schools in the Moore, Norman, Edmond or Oklahoma City area.
In addition, we'll assist you in getting started on your loan. We partner with some of Moore, Norman, Edmond or Oklahoma City's finest mortgage professionals, 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 qualified.
Step 3 – Begin house hunting
After our first meeting, we'll start looking for homes on the market that are great for you. We'll research many of the homes and eliminate the bad ones, and then we'll book appointments to tour the homes at a time that's convenient for you.
When we tour the houses, we'll identify good features and negative ones. And we'll ask you to point out what things you like and dislike. Generally, buyers revise their list of must-haves as we view houses and some things become more important than others. If that's the situation, we'll search the listings again and trim it down to the house you've been wishing for.
Step 4 – Understand the housing market
An agent's understanding of the Moore, Norman, Edmond or Oklahoma City market is a crucial element in your home search. And we assure you we're well acquainted with all the school districts and neighborhoods, and we can let you know certain areas are "hot" and call for prompt action and the rest that are "cold" and allow for careful examination.
When we tour houses, we'll be sure to tell you if the asking price has room for bargaining or if we believe the home is "priced to sell." Be on guard and make sure you ask lots of questions, as any REALTOR® in Moore, Norman, Edmond or Oklahoma City will claim to know the home market. If it seems like they don't know everything, contact us at 405-790-0404 or e-mail us at CindyShannon@cox.net, and we'd be glad to answer any questions you may have. Our market knowledge will keep you a step above the rest through the entire deal.
Step 5 – Find the home you've been waiting for
We're sure we'll find your dream home in the Moore, Norman, Edmond or Oklahoma City area. When we do, we'll precisely develop your home purchase offer. The offer will be tailored keeping your needs in mind, including many contingencies. A few examples are acquiring financing, finishing the home inspection, and a clean title.
When we present your purchase offer, you'll probably want to present "earnest money." This is a cash deposit submitted to the home seller to secure the offer to buy the property, and it's most often put towards the closing costs. If the offer is accepted, we should close within 30 to 60 days afterward. This allows plenty of time for your mortgage financing.
Step 6 – Negotiate the deal
Most deals don't close on the first offer – it's widely common to receive a counter offer. Don't let it intimidate you. We'll discuss whether or not to agree to the counter offer, propose our own counter offer, or decline the seller's offer and move on.
Market circumstances will play a part in how aggressively we negotiate the contract. We'll also work within your financing budget. And when it's all said and done, we'll create a deal that is best for you.
Step 7 – Secure financing
After the contract is complete, you'll start working with your mortgage lender to close the loan. This shouldn't take long at all if you're pre-qualified, but you should to keep in close contact with your mortgage lender. And we'll sort out all the property information your lender will need to close the loan.>
Step 8 – Close the deal
You'll get a Good Faith Estimate (GFE) detailing closing costs from your mortgage lender within three days of taking your application. The estimate is formed from the loan amount, and RESPA requirements mandate that it has to include all closing costs and fall within a narrow range of accuracy. we'll go over the estimate and let you know if everything looks good.
Then it's time to close on your home. This will likely happen at a title company or escrow office and should be a smooth and stress-free event.
Step 9 – Move in
You made it! Now you can move into your new house. Enjoy it. And if you have any questions, be sure to contact us at 405-790-0404 or send us an e-mail.