Buying your new home in Lawton?
Buying a home is a stressful event for most people, but with a little planning ahead of time, it isn't too difficult.
I like to supply buyers with an outline of the entire deal so they'll understand exactly what to expect.
Below are my nine steps to buying a home.
When you're ready to get started, just contact me here or e-mail me at . I'm happy to address any questions you have regarding this information.
Step 1 – Get ready to buy a home
There are a lot of things you should do before starting your home search.
You'll probably want to put together an index of items you want, get an idea of what neighborhoods you want to live in, and start working on your budget.
Keeping your mortgage payment less than 30 percent of your net monthly income is a good guideline to follow.
Step 2 – Communicate with a real estate agent in Lawton
This is where I come in.
I'd love to set up a time to meet with you and talk about why you want to buy a home and get an idea of your plans for the future.
We'll discuss neighborhoods, schools in the Lawton area, the mortgage and housing industries, and any other economic factors that could potentially affect your purchase today or in the future.
In addition, I'll assist you in getting started on your loan.
There are some very good mortgage professionals in Lawton, and I partner with a lot of them, so you're in great hands.
They will help you determine which kind of loan is best for you, as well as help you get approved.
Step 3 – Begin house-hunting
After our initial meeting, I'll begin searching for houses on the market that suit your needs.
I'll research most of the homes and reject the bad ones, and then we'll set up appointments to tour the houses whenever it's convenient for you.
When we view the homes, I'll show you the good features, as well as negative ones. I'll also ask you to point out what things you like and don't like.
As a rule, buyers change their wish list as we tour houses and some features become far more substantial than others.
If that happens, I'll look through all the listings another time and narrow it down to the home you've been wishing for.
Step 4 – Comprehend the market
My understanding of the Lawton home market is an imperative agent in your home search. I'm mindful of all the schools and neighborhoods, and I can let you know which districts are "hot" and demand prompt action and the ones that are "cold" and allow for thoughtful examination.
As we view houses, I'll be sure to tell you if the list price has room for bargaining or if I believe the home is "priced to sell."
Trust your instincts and be sure to ask plenty of questions, as every real estate agent in Lawton will convince you they truly know the market.
If it doesn't seem like they know everything, call me at 580.248.8817 or e-mail me at , and I'd be glad to answer any questions you have. My knowledge of the market will help you stay a step ahead throughout the entire process.
Step 5 – Find the house you've been looking for
We'll find the house of your dreams in Lawton, and when that happens, I'll carefully develop your real estate purchase offer. The offer will be made to suit your needs and the home. We'll include some contingencies, such as acquiring financing, carrying out the inspection, and a clean title.
When we send in your offer, you'll need to submit "earnest money." This is a cash deposit made to a seller to secure the offer to buy the property. The amount is often put towards the cost of closing. If the offer is accepted, we should close about 30 to 60 days afterward. This allows ample time for your mortgage financing.
Step 6 – Negotiate
A lot of contracts don't close on the initial offer – it's pretty common to receive a counter offer. Don't let it alarm you. We'll talk over whether or not to agree to the counter offer, propose our own counter offer, or decline the seller's offer and move on.
How aggressively we negotiate the contract depends on market conditions.
In addition, we'll work within your financing budget. And at the end of the day, we'll create a deal that works well for you.
Step 7 – Obtain a loan
Upon completion of the contract, you'll begin working with your lender to close the loan.
If you've been pre-approved, this won't take very long at all, but you should to keep in close contact with your lender.
And I'll deal with all the property information your lender will need to close the loan.
Step 8 – Close the deal
Your mortgage lender will furnish you with a Loan Estimate (LE) detailing your closing costs within three days of taking your loan application. You'll get a Loan Estimate (LE) outlining your closing costs from your mortgage lender within three days of taking your application.
This estimate depends on the loan amount. RESPA requirements mandate that it has to involve all closing costs and fall within a narrow 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 likely take place at a title company or escrow office and will most often be a smooth and calm occurrence.
Step 9 – Move in
Congratulations! It's time to move into your new house. Enjoy it. And if you need anything, make sure you contact me at 580.248.8817 or e-mail me at .