Purchasing a home in Ocala with ERA Big Sun Realty
Buying a home is an intimidating event for a lot of people, but it's not that complex with some up-front planning.
I like to provide buyers with an overview of the whole deal so they understand exactly what to expect.
Here are my nine steps to purchasing a home.
If you have any questions regarding any of this information or if you're prepared to get started, simply contact me here or e-mail me at .
Step 1 – Get ready to purchase
There are several things you'll want to contemplate before you start looking for a home.
When you start your search, you'll probably want to put together a checklist of features you want to have, get a plan of what neighborhoods you want to live in, and begin planning around your budget.
A good rule to go by is that your mortgage payment should be less than or around a third of your net monthly income.
Step 2 – Communicate with a real estate agent in Ocala
That's where I can help.
I'd be happy to book a time to get together with you and speak with you about your real estate needs and get an idea of your upcoming plans.
We'll talk about everything from neighborhoods, school districts in the Ocala area, the mortgage and housing industries, to any other economic factors that may potentially affect your purchase today or in the future.
I can also assist you with getting started on your loan.
I work with some of the best mortgage professionals in Ocala, so you're in great hands.
They'll help you choose which kind of loan is best for you, as well as help you get approved.
Step 3 – Begin house-hunting
After we meet for the first time, I'll begin looking for houses on the market that suit your needs.
I'll preview most of the houses and reject the duds, and then we'll book appointments to tour the houses when it's convenient for you.
When we tour homes, I'll show you the positive features and bad ones. I'll even ask you to point out what things you like and don't like.
For the most part, buyers revise their must-have list as we view homes and some things become more crucial than others.
If that happens, I'll search the listings another time and trim it down to the house you've been dreaming about.
Step 4 – Comprehend the housing market
My awareness of the Ocala home market is a crucial factor in your home search. I am acquainted with all the schools and neighborhoods, and I will communicate some neighborhoods are "hot" and demand immediate action and some that are "cold" and allow for thoughtful examination.
As we tour houses, I'll let you know if the list price has room for bargaining or if I believe the house is "priced to sell."
When working with an agent, be careful and be sure to ask a lot of questions. Every REALTOR will convince you they know the housing market.
If things don't add up, contact me at 352-237-4343 or e-mail me at , and I'd be glad to answer your questions. My market expertise will help you stay a step above the rest through the entire deal.
Step 5 – Find the house you've been waiting for
I'm sure we'll find the house of your dreams in the Ocala area. When that happens, I'll carefully develop your purchase offer. The offer will be made to suit your needs and the home. We'll include many contingencies, such as acquiring financing, finishing the inspection, and a clear title.
When sending in your purchase offer, you'll need to present "earnest money." This is a cash deposit given to a seller to secure an offer to purchase the property, and it's usually 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
Most contracts don't close on the first offer. It's very common to receive a counter offer. Don't let it intimidate you. We'll consider whether or not to take the counter offer, propose our own counter offer, or reject the seller's offer and move on.
The state of the market will play a vital role in how aggressively we negotiate the deal.
We'll also work within your financing constraints. And when it's all said and done, we'll put together a contract that works well for you.
Step 7 – Get a loan
Once the contract is finished, you'll start working with your lender to close the loan.
If you've been pre-approved, this shouldn't be a long process at all, but you need to stay in close contact with your mortgage lender.
And I'll manage all the property information your mortgage lender will need to close the loan.
Step 8 – Close the deal
Your lender will supply you with a Loan Estimate (LE) of closing costs within three days of taking your loan application. You'll get a Loan Estimate (LE) of your closing costs from your mortgage lender within three days of receiving your application.
This estimate is based on the loan amount, and RESPA requirements order that it has to include all closing costs and be within a narrow range of accuracy. I'll examine the estimate and let you know if it all looks permissible.
Then we'll close on your house. This will most likely happen at a title company or escrow office and will likely be a smooth and comfortable event.
Step 9 – Move in
Congratulations! It's time to move into your new house. Enjoy it. And if you need anything, make sure you call me at 352-237-4343 or e-mail me at .