Let 2mac Realty Group assist you in purchasing your new home in North Texas
For a lot of people, purchasing a home is a stressful event. However, with a bit of up-front planning, it isn't very complex. So you'll know exactly what to expect, we like to furnish our buyers with an outline of the whole deal. Below are our nine steps to buying a home.
When you're ready to get started, just contact us here or send us e-mail
. We're happy to answer any questions you have about this information.
Step 1 – Get ready to purchase a home
Before you begin looking for a home, there are many things you need to contemplate. When you begin your search, you'll want to put together a list of features you need to have, plan for what school districts you want to live in, and start working on your budget. A good principle to adhere to is that your mortgage payment should be less than or around 30 percent of your net monthly income.
Step 2 – Talk to a real estate agent
This is where we can help. We'd like to schedule a time to meet with you and communicate with you regarding why you want to buy a home and get an idea of your upcoming plans. We'll talk about everything from neighborhoods, schools in the Denton County area, the mortgage industry, to any other economic factors that could potentially affect your purchase today or in the future.
We can also help you get started on your loan. There are some excellent mortgage professionals in Denton County, and we partner with a lot of them, so you'll be in great hands. They will help you determine which type of loan is best for you, as well as help you get qualified.
Step 3 – Begin house-hunting
After our initial meeting, we'll start looking for homes on the market that suit your needs. We'll research most of the houses and eliminate the duds, and then we'll book appointments to tour the houses whenever it's most convenient for you.
When we tour houses, we'll point out positive features, as well as bad ones. And we'll ask you about things you like and don't like. Most often, buyers amend their list of must-haves as we tour homes and some things become more necessary than others. If that's the case, we'll look through the listings one more time and trim it down to the home you've been waiting for.
Step 4 – Know the housing market
An agent's awareness of the Denton County housing market is a crucial element in your house search. And we assure you we're well acquainted with all the schools and neighborhoods, and we'll let you know what areas are "hot" and demand prompt action and the ones that are "cool" and allow for thoughtful consideration.
When we tour houses, we'll be sure to tell you when the seller's list price has room for bargaining and when we believe the house is "priced to sell." Every REALTOR® will convince you they understand the home market, but be on guard, and be sure to ask your agent a lot of questions. If things don't add up, just call us at (817) 675-7700 or e-mail us at email@example.com, and we'll be glad to answer any questions you may have. Our market knowledge will keep you a step ahead through the entire process.
Step 5 – Find your dream home
We're confident we'll find your dream home in Denton County. When we do, we'll thoroughly create your purchase offer. The offer will be tailored exactly to your needs, including many contingencies, such as getting financing, completing the inspection, and a clear title.
When submitting your offer, you'll likely want to present "earnest money." This is a cash deposit submitted to a seller to secure the offer to buy the property, and it's often put towards the closing costs. If your offer is accepted, we should close on the home about 30 to 60 days afterward. This allows plenty of time for your mortgage financing.
Step 6 – Negotiate the deal
Unfortunately most deals aren't closed on the beginning offer. It's pretty common to receive a counter offer. Don't let this intimidate you. We'll figure out whether or not to consent to 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 deal. In addition, we'll work within your budget. And at the end of the day, we'll put together a contract that is best for you.
Step 7 – Get your loan
Upon completing the deal, you'll begin working with your mortgage lender to close the loan. If you've been pre-qualified, it shouldn't be a long process at all. But you'll need to keep in close contact with your 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 Good Faith Estimate (GFE) of your closing costs from your lender within three days of getting your application. This estimate rests on the loan amount. RESPA requirements dictate that it has to include all closing costs and be within a close range of accuracy, and we'll analyze the estimate and let you know if everything looks all right.
Then it's time to close on your home. This will most often take place at a title company or escrow office and will most likely be a smooth and easygoing affair.
Step 9 – Move in
You made it! It's time to move into your new house. Enjoy it. And if you have any questions, be sure to contact us at (817) 675-7700 or send us an e-mail.