Contemplating purchasing your new home in Granite Falls? Orrell Associates, Inc. can help.Buying a home is stressful for most people, but it's not all that hard with a bit of planning ahead of time. I like to provide buyers with an overview of the whole deal so they'll know exactly what they can expect. Here are my nine steps to purchasing a home.
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Step 1 – Prepare to purchase a home
Prior to beginning your home search, there are many things you should do. When you start your search, you'll probably want to form a checklist of features you want, get a feel for what school districts you want to live in, and start planning around your budget. Keeping your mortgage payment less than or close to a third of your monthly income is a good rule to follow.
Step 2 – Get with a real estate agent in Granite Falls
This is where I come in. I'd be more than happy to plan a time to get together with you and speak with you about your real estate needs and get an idea of your future plans. We'll talk about the mortgage industry, other economic factors that might affect your purchase today or in the future, as well as neighborhoods and school districts in the Granite Falls area.
In addition, I'll help you start the loan process. Orrell Associates, Inc. works with some of the finest mortgage professionals in Granite Falls, so you're in great hands. They can assist you in determining which kind of loan is best for you and help you get qualified.
Step 3 – Begin looking for a home
After our initial meeting, I'll start finding houses on the market that meet your needs. I'll research many of the homes and eliminate the bad ones, and then we'll book appointments to tour the homes whenever it's most convenient for you.
When we tour the homes, I'll call attention to good features, as well as bad ones. I'll even ask you to talk about things you like and dislike. It's common for buyers to update their wish list as we tour houses and some items become far more necessary than others. If that's the situation, I'll search the listings once more and narrow it down to the home of your dreams.
Step 4 – Get a grasp of the housing market
My knowledge of the Granite Falls home market is a valuable asset in your home search. I'm conscious of all the school districts and neighborhoods, and I will alert you to some areas are "hot" and require prompt action and the ones that are "cold" and allow for thoughtful examination.
As we tour houses, I'll make sure to communicate if the asking price has room for negotiation or if I believe the home is "priced to sell."
Be mindful and be sure to ask your agent lots of questions, as every real estate agent will claim to comprehend the home market.
If things don't add up, just call me at 8283968692 or e-mail me at email@example.com, and I'd be happy to answer your questions. My market expertise will keep you a step above the rest throughout the entire deal.
Step 5 – Find your dream home
I'm positive we'll find your dream house in the Granite Falls area. When that happens, I'll precisely create your purchase offer. The offer will be tailored with your needs in mind, including some contingencies, such as acquiring financing, finishing the home inspection, and a clean title.
When we submit your purchase offer, you'll probably want to present "earnest money." This is a cash deposit given to a seller to secure an offer to purchase the property, and it's most often applied to the cost of closing. If the offer is accepted, we should close on the home about 30 to 60 days after. This allows enough time for your mortgage financing.
Step 6 – Negotiate
A lot of deals don't close on the beginning offer. It's widely common to receive a counter offer. But don't let this intimidate you. We'll discuss whether or not to consent to the counter offer, present our own counter offer, or refuse the seller's offer and move on.
The state of the market determines how aggressively we negotiate the deal. We'll also work within your financing budget. And when it's all said and done, we'll formulate a deal that is best for you.
Step 7 – Secure a loan
Upon completion of the contract, you'll start working with your mortgage lender to close the loan. It won't be a long process at all if you've been pre-approved, but you should to stay in close contact with your mortgage lender. And I'll handle all the property information your lender needs to close the loan.
Step 8 – Close the deal
You'll get a Good Faith Estimate (GFE) of closing costs from your lender within three days of getting your application. This estimate is based on the loan amount. RESPA requirements dictate that it has to contain all closing costs and fall within a precise range of accuracy, and I'll analyze the estimate and let you know if it all looks okay.
Then we'll close on your house. This will most often occur at a title company or escrow office and will most likely be a smooth and pleasant affair.
Step 9 – Move in
You made it! It's time to move into your new home. Enjoy it. And if you need anything, just contact me at 8283968692 or send me an e-mail.