Buying or selling a home in Ocala?
Purchasing a home is an intimidating event for a lot of people, but it isn't all that confusing with a bit of up-front planning.
So they know exactly what they can expect, I will furnish buyers with an outline of the whole deal.
These are my nine steps to purchasing a home.
Should you have any questions regarding this information or if you're prepared to get started, just contact me here or e-mail me at .
Step 1 – Get ready to purchase a home
There are plenty of things you need to take into account before commencing your home search.
You'll most likely want to make an index of features you need to have, plan for what neighborhoods and school districts you'd like to live in, and start planning your budget.
A good rule of thumb to go by is that your mortgage payment should be around 1/3 of your net monthly income.
Step 2 – Speak with a real estate agent
This is where I can help.
We can schedule a time to get together so we can talk about your real estate needs and get an idea of your upcoming plans.
We'll discuss neighborhoods, schools in the Ocala area, the mortgage and housing industries, and any other economic factors that could potentially affect your buying decision today or in the future.
In addition, I'll assist you with getting started on your loan.
I work with some of the finest mortgage professionals in Ocala, so you'll be in great hands.
They will assist you in figuring out which kind of loan is best for you and help you get approved.
Step 3 – Start house hunting
After our first meeting, I'll start looking for houses on the market that best suit you.
I'll research many of the houses and ignore the duds, and then we'll schedule appointments to view the houses at a time that's convenient for you.
As we view the homes, I'll call attention to good features, as well as negative ones. I'll even ask you to talk about things you like and don't like.
It's pretty common for buyers to revise their list of must-haves as we tour houses and some items become more important than others.
If such is the case, I'll go back through the listings once again and trim it down to the home of your dreams.
Step 4 – Comprehend the housing market
Your agent's awareness of the Ocala market is an imperative aspect in your home search. And I can assure you I'm familiar with all the neighborhoods and schools, and I can let you know which areas are "hot" and require prompt action and the ones that are "cold" and allow for more examination.
When we tour houses, I'll let you know if the seller's list price has room for bargaining or if I believe the home is "priced to sell."
Any real estate agent in Ocala will claim to truly know the market, but be wary, and be sure to ask lots of questions.
If things don't add up, call me at 352-237-4343 or e-mail me at , and I'd be glad to answer any questions you might have. My knowledge of the market will help you stay a step above the rest throughout the entire process.
Step 5 – Find the home of your dreams
I know we'll find the home of your dreams in the Ocala area. When we do, I'll carefully develop your real estate purchase offer. The offer will be tailored to suit your needs and the home, including several contingencies. A few examples are obtaining financing, finishing the inspection, and a clean title.
When we present your purchase offer, most likely you'll need to submit "earnest money." This is a cash deposit given to the home seller to secure the offer to buy the property, and it's most often put towards the closing costs. If your offer is accepted, we should close on the home about 30 to 60 days after. This allows necessary time for your mortgage financing.
Step 6 – Negotiate the deal
Most contracts don't close on the initial offer, and it's pretty common to receive a counter offer. Don't let this alarm you. We'll talk about whether or not to consent to the counter offer, propose our own counter offer, or decline the seller's offer and go on.
How aggressively we negotiate the deal depends on market conditions.
We'll also work within your financing budget. And when it's all said and done, we'll put together a contract that is best for you.
Step 7 – Obtain financing
Upon completing the deal, you'll begin working with your lender to close the loan.
If you've been pre-qualified, this won't take long at all, but you should to stay in close contact with your lender.
And I'll sort out all the property information your mortgage lender needs to close the loan.
Step 8 – Close the deal
Your lender will provide you with a Loan Estimate (LE) outlining closing costs within three days of accepting your loan application. You'll get a Loan Estimate (LE) outlining closing costs from your lender within three days of receiving your loan application.
The estimate depends on the loan amount. RESPA requirements order that it has to involve all closing costs and fall within a tight range of accuracy, and I'll go over the estimate and let you know if it all looks permissible.
Then we'll close on your house. This will likely happen at a title company or escrow office and will likely be a smooth and comfortable affair.
Step 9 – Move in
Congratulations! Now you can move into your new home. Enjoy it. And if you have any questions, make sure you contact me at 352-237-4343 or e-mail me at .