Buying your new home in Puyallup with FirstPoint Real Estate
With some up-front planning, purchasing a home isn't too hard, but the event is intimidating for many people.
So they know exactly what they can expect, I like to give buyers an overview of the entire deal.
These are my nine steps to buying a home.
If you have questions regarding any of this information or if you're ready to get started, just contact me here or e-mail me at .
Step 1 – Get ready to buy a home
There are several things you should contemplate before you start searching for a home.
When you start your search, you'll want to make a checklist of items you want to have, get an idea of what school districts you'd like to live in, and begin working on your budget.
Keeping your mortgage payment less than 30 percent of your net monthly income is a good principle to adhere to.
Step 2 – Speak with a real estate agent
This is where FirstPoint Real Estate comes in.
We'll schedule 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 discuss everything from neighborhoods, school districts in the Puyallup area, the mortgage industry, to any other economic factors that may potentially affect your purchase today or in the future.
I'll also help you start the loan process.
FirstPoint Real Estate works with some of Puyallup's best mortgage professionals, so you're in great hands.
They'll assist you in choosing which kind of loan is best for you and help you get qualified.
Step 3 – Start your search
After our initial meeting, I'll begin searching for homes on the market that are great for you.
I'll get a sneak peek of many of the houses and reject the bad ones, and then we'll set up appointments to view the houses when it's most convenient for you.
When we view homes, I'll point out positive features, as well as bad ones. I'll also ask you what things you like and don't like.
It's common for buyers to update their must-have list as we tour houses and some things become more essential than others.
If that's the case, I'll go back through all the listings another time and trim it down to the home of your dreams.
Step 4 – Know the housing market
My knowledge of the Puyallup housing market is a fundamental component in your house search. I'm conscious of all the school districts and neighborhoods, and I can communicate some districts are "hot" and demand prompt action and some that are "cold" and allow for cautiousness.
When we view houses, I'll be sure to tell you if the list price has room for negotiation or if I believe the house is "priced to sell."
When working with an agent, be mindful and make sure you ask a lot of questions, as every real estate agent will claim to understand the housing market.
If it doesn't seem like they know everything, call me at 253.299.2088 or e-mail me at , and I'd be happy to answer any questions you might have. My market expertise will keep you a step above the rest throughout the entire deal.
Step 5 – Find the house of your dreams
I'm sure we'll find your dream home in Puyallup. When that happens, I'll thoroughly develop your real estate purchase offer. The offer will be tailored keeping your needs in mind and the home, including some contingencies, such as obtaining financing, carrying out the home inspection, and a clear title.
When we submit your purchase offer, you'll want to submit "earnest money." This is a cash deposit given to the home seller to secure the offer to purchase the property and is typically applied to the cost of closing. If the offer is accepted by the seller, we should close on the home within 30 to 60 days after. This allows sufficient time for your mortgage financing.
Step 6 – Negotiate the deal
A lot of contracts don't close on the beginning offer, and it's extremely common to receive a counter offer. Don't let it discourage you. We'll talk about whether or not to take the counter offer, submit our own counter offer, or reject the seller's offer and move on.
The state of the market determines how aggressively we negotiate the deal.
In addition, we'll work within your financing budget. And when it's all said and done, we'll create a contract that's best for you.
Step 7 – Obtain financing
After the contract is complete, you'll begin working with your lender to close the loan.
If you're pre-qualified, it shouldn't be a long process at all, but you'll need to stay in close contact with your mortgage lender.
And I'll manage all the property information your lender needs to close the loan.
Step 8 – Close the deal
You'll get a Loan Estimate (LE) of closing costs from your mortgage lender within three days of getting your application.
The estimate is based on the loan amount. RESPA requirements dictate that it has to include all closing costs and fall within a tight range of accuracy, and I'll study the estimate and let you know if it all looks okay.
Then we'll close on your house. This will most often occur at a title company or escrow office and will likely be a smooth and peaceful event.
Step 9 – Move in
Congratulations! It's time to move into your new house. Enjoy it. And if you need anything or have any questions, make sure you call me at 253.299.2088 or e-mail me at .