Buying or selling a home in Bronx?
For many people, purchasing a home can be an intimidating event. However, with some planning ahead of time, it isn't that complex.
So they'll understand exactly what they can expect, I'll supply buyers with a road map of the whole deal.
These are my nine steps to buying a home.
When you're ready to get started, just contact me here or e-mail me at . I'm glad to answer questions you have regarding this information.
Step 1 – Get ready to buy
Prior to beginning your home search, there are plenty of things you'll want to take into account.
When you start your search, you'll want to assemble a check list of features you need to have, get a feel for what school districts and neighborhoods you'd like to live in, and begin working on your budget.
A good rule to follow is that your mortgage payment should be around 30 percent of your monthly income.
Step 2 – Communicate with a real estate agent in Bronx
This is where Go! Real Estate, Inc. comes in.
We can arrange a time to get together so we can talk about your real estate needs and get an idea of your plans for the future.
We'll talk about neighborhoods, school districts in the Bronx area, the mortgage and housing industries, and any additional economic factors that might affect your buying decision today or in the future.
I'll also help you begin the loan process.
Go! Real Estate, Inc. partners with some of the finest mortgage professionals in Bronx, so you'll be in great hands.
They will help you decide which kind of loan is best for you, as well as help you get approved.
Step 3 – Begin your home search
After our initial meeting, I'll start looking for homes on the market that are good for you.
I'll research many of the homes and ignore the duds, and then we'll set up appointments to tour the houses when it's convenient for you.
As we view the homes, I'll call attention to good features and bad ones. And I'll ask you about things you like and dislike.
It's pretty common for buyers to amend their list of must-haves as we tour houses and some items become far more important than others.
If that happens, I'll go back through all the listings another time and trim it down to the home you've been wishing for.
Step 4 – Know the market
Your agent's awareness of the Bronx housing market is a necessary aspect in your home search. And I can assure you I'm familiar with all the neighborhoods and school districts, and I will communicate what areas are "hot" and require immediate action and the ones that are "cold" and allow for careful consideration.
As we view homes, I'll let you know when the asking price has room for negotiation and when I trust the house is "priced to sell."
Every REALTOR in Bronx will tell you they truly know the market, but be wary, and make sure you ask your agent lots of questions.
If it seems like they don't know everything, just call me at 1-718-863-8778 or e-mail me at , and I'll be more than happy to answer any questions you might have. My market knowledge will help you stay a step above the rest through the entire process.
Step 5 – Find the home you've been looking for
I'm positive we'll find your dream house in the Bronx area. When we do, I'll precisely create your purchase offer. The offer will be tailored keeping your needs in mind and the home, including some contingencies. A few examples are obtaining financing, finishing the home inspection, and a clean title.
When turning in your purchase offer, you'll probably need to submit "earnest money." This is a cash deposit made to the home seller to secure the offer to purchase the property. The amount is typically 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 ample time for your mortgage financing.
Step 6 – Negotiate the deal
A lot of deals don't close on the first offer. It's extremely common to receive a counter offer. Don't let it discourage you. We'll consider whether or not to accept the counter offer, propose our own counter offer, or refuse the seller's offer and go on.
Market circumstances determine how aggressively we negotiate the contract.
We'll also work within your financing limits. And at the end of the day, we'll create a deal that works well for you.
Step 7 – Get financing
Upon finishing the deal, you'll start working with your lender to close the loan.
This shouldn't take long at all if you're already pre-qualified, but you should to stay in close contact with your lender.
And I'll deal with all the property information your mortgage lender will need to close the loan.
Step 8 – Close the deal
You'll get a Loan Estimate (LE) outlining your closing costs from your lender within three days of taking your loan application.
This estimate depends on the loan amount. RESPA requirements dictate that it has to include all closing costs and be within a tight range of accuracy, and I'll analyze 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 relaxing affair.
Step 9 – Move in
Congratulations! Now you can move into your new house. Enjoy it. And if you have any questions, just contact me at 1-718-863-8778 or e-mail me at .