Are you buying a new home in Puyallup?
Buying a home is stressful for most people. However, with a bit of planning ahead of time, it isn't that hard.
I like to furnish buyers with an outline of the whole deal so they'll know exactly what to expect.
Here are my nine steps to buying a home.
Should you have any questions about any of this information or if you're prepared to get started, simply contact me here or e-mail me at .
Step 1 – Get ready to purchase a home
There are a lot of things you need to contemplate prior to starting your home search.
When you start your search, you'll probably want to create a list of items you want to have, get a feel for what school districts you'd like to live in, and start planning around your budget.
Ensuring your mortgage payment is less than or around a third of your monthly income is a good guideline to go by.
Step 2 – Connect with a real estate agent
This is where I come in.
I'd like to schedule a time to get together 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 and housing industries, other economic factors that may potentially affect your buying decision today or in the future, as well as neighborhoods and schools in the Puyallup area.
In addition, I'll help you facilitate the loan process.
FirstPoint Real Estate partners with some of the finest mortgage professionals in Puyallup, so you can rest assured that you're in great hands.
They'll help you determine which type of loan is best for you, as well as help you get qualified.
Step 3 – Begin your home search
After our initial meeting, I'll begin looking for homes on the market that are great for you.
I'll preview most of the homes and reject the bad ones, and then we'll book appointments to view the homes whenever it's most convenient for you.
When we tour houses, I'll identify good features and bad ones. I'll even ask you what things you like and don't like.
For the most part, buyers change their wish list as we tour houses and some features become more important than others.
If such is the case, I'll look through the listings once more and narrow it down to the house you've been dreaming about.
Step 4 – Know the housing market
An agent's understanding of the Puyallup home market is an essential factor in your house search. And I assure you I'm acquainted with all the school districts and neighborhoods, and I can alert you to certain neighborhoods are "hot" and demand immediate action and others that are "cool" and allow for careful examination.
When we view homes, I'll let you know if the asking price has room for negotiation or if I believe the house is "priced to sell."
Be on guard and make sure you ask a lot of questions, as every REALTOR in Puyallup will tell you they comprehend the housing market.
If it seems like they don't know everything, call me at 253.299.2088 or e-mail me at , and I'd be more than happy to answer any questions you might have. My knowledge of the market will keep you a step ahead throughout the entire process.
Step 5 – Find the home you've been waiting for
We'll find your dream home in the Puyallup area, and when that happens, I'll precisely create your home purchase offer. The offer will be made to fit your needs and the home. We'll include a lot of contingencies, such as obtaining financing, finishing the home inspection, and a clear title.
When we submit your purchase offer, you'll likely need to submit "earnest money." This is a cash deposit submitted to the home seller to secure an offer to purchase the property. The amount is typically put towards the closing costs. If the offer is accepted by the seller, we should close on the property within 30 to 60 days afterward. This allows ample time for your mortgage financing.
Step 6 – Negotiate the deal
Unfortunately most contracts aren't closed on the first offer. It's really common to receive a counter offer. Don't let this intimidate you. We'll talk about whether or not to accept the counter offer, submit our own counter offer, or decline the seller's offer and move on.
How aggressively we negotiate the contract depends on market circumstances.
In addition, we'll work within your financing budget. And at the end of the day, we'll put together a deal that is best for you.
Step 7 – Get a loan
Once the deal is finished, you'll begin working with your mortgage lender to close the loan.
If you're already pre-qualified, it shouldn't take very long at all. But you should to stay in close contact with your mortgage lender.
And I'll care for all the property information your mortgage lender needs to close the loan.
Step 8 – Close the deal
You'll get a Loan Estimate (LE) outlining closing costs from your lender within three days of taking your loan application.
This estimate depends on the loan amount. RESPA requirements dictate that it has to include all closing costs and be within a precise range of accuracy, and I'll analyze the estimate and let you know if it all looks adequate.
Then we'll close on your house. This will most likely occur at a title company or escrow office and will probably be a smooth and comfortable event.
Step 9 – Move in
Congratulations! Now you can move into your new house. Enjoy it. And if you need anything or have any questions, simply contact me at 253.299.2088 or e-mail me at .