Buying a new home in Up-State New York? A home close to the Adirondacks? Or perhaps a home an hour to Albany New York? Or Maybe driving distance to Cooperstown New York?
Buying a home can be stressful for most people, but with a bit of up-front planning, it isn't very difficult.I like to provide buyers with an outline of the entire deal so they'll know exactly what to expect.Below are my nine steps to buying a home.
Step 1 – Prepare to purchase
There are a lot of things you need to consider prior to commencing your home search. It's likely that you'll want to put together a list of must-haves, plan for what neighborhoods you'd like to live in, and begin planning your budget.A good rule of thumb to adhere to is that your mortgage payment should be no more than a third of your monthly income.
Step 2 – Talk to a real estate agent in Canajoharie
This is where I can help.I can schedule a time to get together so we can talk about your real estate needs and get an idea of your future plans.We'll discuss the mortgage industry, other economic factors that might affect your purchase today or in the future, as well as neighborhoods and schools in the Canajoharie area.
I can also help you start the loan process.There are some great mortgage professionals in Canajoharie, and I work with a lot of them, so you can rest assured that you're in great hands.They can help you choose which type of loan is best for you, as well as help you get qualified.
Step 3 – Begin your search
Following our initial meeting, I'll start finding available homes on the market that are good for you.I'll get a sneak peek of most of the homes and exclude the duds, and then we'll book appointments to tour the homes when it's most convenient for you.
When we tour homes, I'll identify good features, as well as negative ones. I'll also ask you to tell me about things you like and don't like. As a rule, buyers revise their list of must-haves as we view houses and some things become more necessary than others.If that's the case, I'll go back through all the listings once more and trim it down to the home you've been dreaming about.
Step 4 – Get a feel for the housing market
My awareness of the Canajoharie housing market is a fundamental resource in your search. I am acquainted with all the neighborhoods and schools, and I can alert you to certain districts are "hot" and call for prompt action and the others that are "cold" and allow for thoughtful consideration.
As we view homes, I'll make sure to communicate if the seller's list price has room for bargaining or if I believe the house is "priced to sell."When working with an agent, trust your instincts and make sure you ask a lot of questions, as every real estate agent will convince you they know the market.If things don't add up, contact me at 518-673-2820 or e-mail me at firstname.lastname@example.org, and I'll be more than happy to answer any questions you have. My market expertise will keep you a step above the rest throughout the entire deal.
Step 5 – Find the house you've been waiting for
I'm certain we'll find the home of your dreams in Canajoharie, and when that happens, I'll carefully create your home purchase offer. The offer will be written exactly to your needs. Whenever necessary, I never forget to make contracts contingent upon items like obtaining financing and the results of the home inspection.
When we submit your offer, you'll likely need to present "earnest money." This is a cash deposit made to the seller to secure the offer to purchase the property, and it's often put towards the closing costs. If the offer is accepted by the seller, we should close on the home about 30 to 60 days after. This allows plenty of time for your mortgage financing.
Step 6 – Negotiate
A lot of contracts aren't closed on the first offer, and it's really common to receive a counter offer. Don't let it discourage you. We'll consider whether or not to accept the counter offer, submit our own counter offer, or reject the seller's offer and go on.
Market circumstances determine how aggressively we negotiate the contract.We'll also work within your financing budget. And when it's all said and done, we'll assemble a contract that works well for you.
Step 7 – Get your loan
After the deal is finished, you'll start working with your mortgage lender to close the loan.This shouldn't be a long process at all if you've been pre-approved, but you should to stay in close contact with your lender.And I'll handle 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) outlining your closing costs from your mortgage lender within three days of receiving your loan application.This estimate rests on the loan amount. RESPA requirements order that it has to include all closing costs and fall within a tight range of accuracy, and I'll analyze the estimate and let you know if everything looks permissible.
Then we'll close on your house. This will likely take place at a title company or escrow office and is often a smooth and pleasant occasion.
Step 9 – Move in
Congratulations! Now you can move into your new home. Enjoy it. And if you have any questions, simply contact me at 518-673-2820 or send me an e-mail.
Congratulations! Now you can move into your new home. Enjoy it. And if you have any questions, simply contact me at 518-673-2820 or send me an e-mail