Buying a home in Lake Worth
Buying a home is stressful for a lot of people, but with some up-front planning, it isn't very complex.
So you'll understand exactly what to expect, we like to give our buyers an overview of the entire deal.
Below are our nine steps to purchasing a home.
When you're ready to get started, simply contact us here or send us e-mail
. We're happy to answer any questions you have regarding this information.
Step 1 – Get ready to buy
There are a lot of things you should consider before beginning your home search.
It's likely that you'll want to make a list of features you want, get a plan of what school districts and neighborhoods you'd like to live in, and begin planning around your budget.
Ensuring your mortgage payment is less than or around a third of your net monthly income is a good rule of thumb to follow.
Step 2 – Talk to a real estate agent in Lake Worth
This is where we can help.
We'd like to arrange a time to meet with you and communicate with you about why you want to buy a home and get an idea of your future plans.
We'll talk about the mortgage industry, other economic factors that might affect your buying decision today or in the future, as well as neighborhoods and schools in the Lake Worth area.
We can also assist you in getting started on your loan.
There are some excellent mortgage professionals in Lake Worth, and we partner with a lot of them, so you'll be in great hands.
They will help you decide which type of loan is best for you, as well as help you get approved.
Step 3 – Begin looking
After our initial meeting, we'll start looking for available homes on the market that meet your needs.
We'll get a sneak peek of many of the houses and eliminate the bad ones, and then we'll set up appointments to view the homes when it's convenient for you.
As we tour houses, we'll call attention to positive features and bad ones. we'll even ask you to point out what things you like and dislike.
Oftentimes, buyers revise their must-have list as we tour houses and some things become far more important than others.
If that's the situation, we'll search the listings once more and trim it down to the house you've been wishing for.
Step 4 – Get a grasp of the housing market
An agent's knowledge of the Lake Worth housing market is an essential factor in your house search. And we can assure you we're very familiar with all the neighborhoods and school districts, and we'll communicate what districts are "hot" and require immediate action and the rest that are "cool" and allow for more consideration.
As we view homes, we'll make sure to communicate if the seller's asking price has room for negotiation or if I believe the house is "priced to sell."
Every real estate agent will tell you they comprehend the housing market, but take note, and be sure to ask a lot of questions.
If it doesn't seem like they know everything, contact us at 561-586-1160 or e-mail us at email@example.com, and we'd be glad to answer any questions you may have. Our market expertise will keep you a step ahead through the entire process.
Step 5 – Find the house of your dreams
We're positive we'll find the house of your dreams in the Lake Worth area, and when we do, we'll thoroughly develop your home purchase offer. The offer will be written exactly to your needs. Whenever necessary, We never forget to make contracts contingent upon items like obtaining financing and the results of the home inspection.
When submitting your offer, you'll need to submit "earnest money." This is a cash deposit submitted to the seller to secure an offer to purchase the property, and it's usually applied to the cost of closing. If the seller accepts your offer, we should close on the home about 30 to 60 days afterward. This allows enough time for your mortgage financing.
Step 6 – Negotiate the deal
Most deals aren't closed on the beginning offer – it's extremely common to receive a counter offer. Don't let this alarm you. We'll talk over whether or not to accept the counter offer, propose our own counter offer, or refuse the seller's offer and move on.
The state of the market will play a big part in how aggressively we negotiate the contract.
In addition, we'll work within your budget. And when it's all said and done, we'll assemble a deal that works well for you.
Step 7 – Obtain financing
Upon completion of the contract, you'll begin working with your lender to close the loan.
If you're already pre-approved, this won't take very long at all, but you need to stay in close contact with your mortgage lender.
And we'll deal with all the property information your mortgage lender needs to close the loan.>
Step 8 – Close the deal
You'll get a Loan Estimate (LE) outlining your closing costs from your mortgage lender within three days of accepting your application.
The estimate rests on the loan amount, and RESPA requirements order that it has to contain all closing costs and be within a tight range of accuracy. we'll study the estimate and let you know if it all looks permissible.
Then it's time to close on your home. This will most often take place at a title company or escrow office and is often a smooth and comfortable occasion.
Step 9 – Move in
Success! Now you can move into your new house. Enjoy it. And if you need anything, simply call us at 561-586-1160 or send us an e-mail.