Buying or selling a home in Sarasota?
For most people, buying a home can be an intimidating event. But with a bit of up-front planning, it isn't all that hard.
So you know exactly what to expect, I like to supply my buyers with a road map of the entire deal.
These are my nine steps to buying a home.
Should you have any questions regarding this information or if you're prepared to get started, just contact me here or send e-mail to firstname.lastname@example.org
Step 1 – Prepare to purchase a home
Before you start looking for a home, there are a lot of things you need to consider.
When you begin your search, you'll want to make an index of items you want to have, get a plan of what neighborhoods you'd like to live in, and begin planning around your budget.
Keeping your mortgage payment less than or around a third of your monthly income is a good rule of thumb to follow.
Step 2 – Get in touch with a real estate agent
That's where I come in.
I can plan 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 talk about the mortgage industry, other economic factors that could potentially affect your buying decision today or in the future, as well as neighborhoods and school districts in the Sarasota area.
I'll also help you start the loan process.
I work with some of Sarasota's best mortgage professionals, so you can rest assured that you're in great hands.
They'll assist you in deciding which type of loan is best for you and help you get approved.
Step 3 – Begin your search
After our initial meeting, I'll begin finding houses on the market that are a great fit for you.
I'll preview most of the houses and remove the bad ones, and then we'll book appointments to tour the houses whenever it's convenient for you.
When we tour houses, I'll point out positive features, as well as bad ones. And I'll ask you to talk about things you like and don't like.
It's pretty common for buyers to revise their wish list as we view homes and some items become far more crucial than others.
If that's the situation, I'll look through the listings once again and trim it down to the home you've been wishing for.
Step 4 – Get a feel for the housing market
My understanding of the Sarasota housing market is an essential resource in your home search. I'm acquainted with all the neighborhoods and schools, and I'll communicate which areas are "hot" and call for prompt action and the others that are "cold" and allow for careful consideration.
As we tour houses, I'll be sure to tell you if the seller's list price has room for negotiation or if I believe the house is "priced to sell."
When working with an agent, be on guard and be sure to ask plenty of questions. Any REALTOR® in Sarasota will claim to truly understand the home market.
If it seems like they don't know everything, call me at 941-929-9090, Ext 195 or e-mail me at email@example.com, and I'll be glad 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 of your dreams
I'm confident we'll find the house of your dreams in the Sarasota area. When we do, I'll precisely create your home purchase offer. The offer will be tailored keeping your needs in mind, including many contingencies. A few examples are acquiring financing, completing the home inspection, and a clean title.
When turning in your purchase offer, you'll likely want to present "earnest money." This is a cash deposit made to the home seller to secure the offer to purchase the property and is most often put towards the closing costs. If the seller accepts the offer, we should close within 30 to 60 days after. This allows sufficient time for your mortgage financing.
Step 6 – Negotiate
Most contracts don't close on the first offer. It's very common to receive a counter offer. But don't let this intimidate you. We'll talk about whether or not to consent to the counter offer, present our own counter offer, or refuse the seller's offer and move on.
The state of the market determines how aggressively we negotiate the contract.
In addition, we'll work within your financing constraints. And when it's all said and done, we'll assemble a contract that works well for you.
Step 7 – Obtain financing
After we sign the final deal, you'll begin working with your mortgage lender to close the loan.
If you're pre-approved, it won't take much time at all, but you'll need to keep in close contact with your mortgage lender.
And I'll manage all the property information your lender will need to close the loan.>
Step 8 – Close the deal
Your mortgage lender will supply you with a Good Faith Estimate (GFE) outlining closing costs within three days of accepting your application.
The estimate rests on the loan amount. RESPA requirements dictate that it has to involve all closing costs and fall within a precise range of accuracy, and I'll analyze the estimate and let you know if everything looks permissible.
Then it's time to close on your home. This will likely occur at a title company or escrow office and will most likely be a smooth and pleasant occurrence.
Step 9 – Move in
Congratulations! Now you can move into your new home. Enjoy it. And if you have any questions, be sure to contact me at 941-929-9090, Ext 195 or send me an e-mail.