Buying or selling a home in Longwood or Lake Mary or Daytona Beach ? Southern Realty Enterprises, Inc. can help.
For most people, purchasing a home can be intimidating. But with a little planning ahead of time, it's not too difficult. So you'll understand exactly what to expect, we like to supply our buyers with an outline of the whole deal. Here are our nine steps to purchasing a home.
If you have any questions about this information or if you're ready to get started, just contact us here or send e-mail to email@example.com.
Step 1 – Prepare to purchase
There are several things you'll want to take into account before starting your home search. It's likely that you'll want to form an index of features you want, get a feeling for what school districts and neighborhoods you want to live in, and start planning your budget. Keeping your mortgage payment less than or close to 1/3 of your net monthly income is a good guideline to follow.
Step 2 – Get with a real estate agent
This is where we come in. We'd love to book a time to meet with you and speak with you regarding your real estate needs and get an idea of your plans for the future. We'll talk about everything from neighborhoods, school districts in the Longwood, Lake Mary and Daytona Beach areas, the mortgage and housing industries, to any other economic factors that could potentially affect your purchase today or in the future.
We can also help you facilitate the loan process. We work with some of the finest mortgage professionals in Longwood and Daytona Beach areas so you'll be in great hands. They'll help you determine which type of loan is best for you, as well as help you get approved.
Step 3 – Start looking for a house
After our initial meeting, we'll start searching for houses on the market that meet your needs. We'll preview most of the homes and exclude the bad ones, and then we'll book appointments to view the houses at a time that's convenient for you.
As we tour the homes, we'll identify positive features, as well as bad ones. And we'll ask you to tell us about things you like and dislike. It's widely common for buyers to update their must-have list as we tour homes and some items become far more necessary than others. If that's the case, we'll look through the listings another time and narrow it down to the house you've been waiting for.
Step 4 – Understand the market
An agent's knowledge of the Longwood, Lake Mary or Daytona Beach housing markets is an essential factor in your home search. And we can assure you we're well acquainted with all the schools and neighborhoods, and we will communicate what neighborhoods are "hot" and require prompt action and the rest that are "cool" and allow for careful consideration.
As we tour homes, we'll make sure to communicate when the seller's list price has room for negotiation and when 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 real estate agent will tell you they truly know the home market. If things don't add up, call us at (407) 869-0033 or e-mail us at firstname.lastname@example.org, and we'd be glad to answer your questions. Our understanding of the market will keep you a step above the rest through the entire deal.
Step 5 – Find your dream house
We're certain we'll find the house of your dreams in the Longwood, Lake Mary or Daytona Beach areas. When that happens, we'll thoroughly create your purchase offer. The offer will be tailored with your needs in mind, including several contingencies, such as getting financing, finishing the inspection, and a clear title.
When we present your purchase offer, most likely you'll want to present "earnest money." This is a cash deposit given to a home seller to secure an offer to purchase the property. The amount is typically put towards the cost of closing. If the seller accepts the offer, we should close on the home about 30 to 60 days afterward. This allows plenty of time for your mortgage financing.
Step 6 – Negotiate
A lot of contracts aren't closed on the initial offer, and it's pretty common to receive a counter offer. But don't let this alarm you. We'll talk about whether or not to take the counter offer, present our own counter offer, or decline the seller's offer and go on.
How aggressively we negotiate the deal depends on market conditions. In addition, we'll work within your financing limits. And when it's all said and done, we'll assemble a contract that's best for you.
Step 7 – Secure financing
Upon completion of the deal, you'll start working with your lender to close the loan. It won't be a long process at all if you've been pre-approved, but you need to stay in close contact with your lender. And we'll care for all the property information your mortgage lender needs to close the loan.>
Step 8 – Close the deal
You'll get a Good Faith Estimate (GFE) of closing costs from your lender within three days of taking your application. This estimate rests on the loan amount. RESPA requirements require that it has to include all closing costs and fall within a tight range of accuracy, and we'll review the estimate and let you know if it all looks all right.
Then we'll close on your home. This will likely happen at a title company or escrow office and will likely be a smooth and pleasant 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, be sure to call us at (407) 869-0033 or send us an e-mail.