Are you purchasing a home in Long Island? Vine andSea Real Estate Associates can help.
Buying a home is stressful for a lot of people, but it's not too hard with some planning ahead of time. So you'll know exactly what to expect, I like to furnish my buyers with an outline of the whole deal. These are my nine steps to purchasing a home.
When you're ready to get started, simply contact me here or send me e-mail
. I'm happy to answer any questions you have about this information.
Step 1 – Get ready to buy a home
Before you begin your home search, there are several things you should do. You'll most likely want to assemble a checklist of features you want to have, get a feel for what neighborhoods you want to live in, and begin planning your budget. Keeping your mortgage payment less than or close to 30 percent of your net monthly income is a good rule of thumb to adhere to.
Step 2 – Speak with a real estate agent in Long Island
This is where I come in. I can plan a time to meet so we can talk about your real estate needs and get an idea of your plans for the future. We'll discuss everything from neighborhoods, schools in the Long Island area, the mortgage industry, 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. There are some excellent mortgage professionals in Long Island, and I partner with a lot of them, so you can rest assured that you're in great hands. They can help you decide which kind of loan is best for you, as well as help you get qualified.
Step 3 – Begin looking for a house
After we meet, I'll begin looking for houses on the market that are great for you. I'll preview most of the houses and exclude the bad ones, and then we'll book appointments to tour the houses whenever it's most convenient for you.
When we tour the houses, I'll call attention to good features, as well as negative ones. I'll also ask you what things you like and don't like. It's widely common for buyers to revise their must-have list as we view homes and some items become more important than others. If such is the case, I'll search the listings one more time and narrow it down to the house you've been waiting for.
Step 4 – Get a grasp of the housing market
My awareness of the Long Island market is a necessary asset in your house search. I'm conscious of all the neighborhoods and school districts, and I will communicate which districts are "hot" and call for prompt action and the ones that are "cold" and allow for careful consideration.
When we view homes, 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, trust your instincts and be sure to ask a lot of questions, as any real estate agent will convince you they understand the home market. If things don't add up, just call me at 5163168864 or e-mail me at VineandSea@aol.com, and I'd be more than happy to answer any questions you might have. My market expertise will help you stay a step ahead throughout the entire deal.
Step 5 – Find the house you've been looking for
I'm positive we'll find your dream home in Long Island. When that happens, I'll carefully develop your real estate purchase offer. The offer will be tailored exactly to your needs, including many contingencies, such as acquiring financing, carrying out the home inspection, and a clean title.
When presenting your offer, most likely you'll want to submit "earnest money." This is a cash deposit given to the home seller to secure an offer to purchase the property, and it's often put towards the cost of closing. If your offer is accepted by the seller, we should close within 30 to 60 days after. This allows sufficient time for your mortgage financing.
Step 6 – Negotiate the deal
A lot of deals don't close on the beginning offer – it's pretty common to receive a counter offer. Don't let it discourage you. We'll talk about whether or not to agree to the counter offer, present our own counter offer, or reject the seller's offer and go on.
Market conditions will play a part in how aggressively we negotiate the deal. In addition, we'll work within your financing budget. And at the end of the day, we'll assemble a deal that works well for you.
Step 7 – Get your loan
Once the contract is finalized, you'll begin working with your lender to close the loan. If you've been pre-approved, it shouldn't take very long at all. But you'll want to stay in close contact with your lender. And I'll manage 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) outlining your closing costs from your lender within three days of getting your loan application. The estimate rests on the loan amount. RESPA requirements order that it has to include all closing costs and be within a tight range of accuracy, and I'll review the estimate and let you know if everything looks adequate.
Then it's time to close on your house. This will most likely happen at a title company or escrow office and will likely be a smooth and comfortable occurrence.
Step 9 – Move in
Congratulations! Now you can move into your new home. Enjoy it. And if you need anything or have any questions, make sure you call me at 5163168864 or send me an e-mail.