Are you contemplating purchasing a new home in Palm Beach Gardens? Portside Properties Inc. can help.
Purchasing a home is a stressful event for a lot of people. However, with some up-front planning, it isn't too complicated. I like to provide buyers with an outline of the entire deal so they know exactly what to expect. Below are my nine steps to buying a home.
When you're ready to get started, you can contact me here or send me e-mail
. I'm happy to answer any questions you have about this information.
Step 1 – Prepare to purchase a home
There are plenty of things you need to do before you start searching for a home. When you start your search, you'll probably want to assemble an outline of items you need to have, plan for what school districts you want to live in, and begin planning around your budget. Ensuring your mortgage payment is less than or close to 1/3 of your net monthly income is a good principle to go by.
Step 2 – Contact a real estate agent
This is where I can help. I'll set up a time to get together so we can talk about why you want to buy a home and get an idea of your plans for the future. We'll discuss the mortgage and housing industries, other economic factors that may affect your buying decision today or in the future, as well as neighborhoods and school districts in the Palm Beach Gardens area.
I'll also help you get started on your loan. There are some very good mortgage professionals in Palm Beach Gardens, and I work with a lot of them, so you can rest assured that you're in great hands. They will assist you in figuring out which kind of loan is best for you and help you get qualified.
Step 3 – Begin looking for a home
Following our initial meeting, I'll begin looking for available houses on the market that are a good fit for you. I'll research many of the houses and reject the duds, and then we'll set up appointments to view the houses whenever it's most convenient for you.
As we view the houses, I'll show you the positive features, as well as negative ones. I'll even ask you to talk about things you like and dislike. It's widely common for buyers to revise their wish list as we tour homes and some things become more important than others. If such is the case, I'll go back through all the listings once again and narrow it down to the house you've been wishing for.
Step 4 – Know the market
Your agent's knowledge of the Palm Beach Gardens housing market is a leading element in your home search. And I assure you I'm acquainted with all the neighborhoods and schools, and I can alert you to some areas are "hot" and demand immediate action and the others that are "cool" and allow for thoughtful consideration.
When we tour homes, I'll let you know if the asking price has room for bargaining or if I believe the house is "priced to sell." Trust your instincts and be sure to ask a lot of questions, as any REALTOR® will claim to truly know the market. If things don't add up, just call me at (561) 626-7300 or e-mail me at email@example.com, and I'd be happy to answer any questions you may have. My understanding of the market will keep you a step ahead through the entire process.
Step 5 – Find the home you've been waiting for
I'm positive we'll find the home of your dreams in Palm Beach Gardens. When that happens, I'll meticulously create your purchase offer. The offer will be tailored to suit your needs, including a lot of contingencies. A few examples are obtaining financing, completing the inspection, and a clear title.
When we send in your offer, you'll need to submit "earnest money." This is a cash deposit made to the seller to secure an offer to buy the property and is most often applied to the cost of closing. If the offer is accepted by the seller, we should close on the property about 30 to 60 days afterward. This allows ample time for your mortgage financing.
Step 6 – Negotiate the deal
Unfortunately most deals aren't closed on the beginning offer – it's really common to receive a counter offer. But don't let it intimidate you. We'll talk about whether or not to accept the counter offer, propose our own counter offer, or reject the seller's offer and go on.
Market circumstances will play a role in how aggressively we negotiate the deal. In addition, we'll work within your financing constraints. And when it's all said and done, we'll put together a deal that is best for you.
Step 7 – Secure a loan
Once the contract is signed, you'll begin working with your mortgage lender to close the loan. If you've been pre-qualified, this won't take long at all. However, you should to stay in close contact with your mortgage lender. And I'll manage all the property information your mortgage lender will need to close the loan.>
Step 8 – Close the deal
You'll get a Good Faith Estimate (GFE) outlining your closing costs from your mortgage lender within three days of getting your application. The estimate is formed from the loan amount. RESPA requirements mandate that it has to involve all closing costs and fall within a narrow range of accuracy, and I'll study the estimate and let you know if everything looks all right.
Then it's time to close on your house. This will most often happen at a title company or escrow office and is often a smooth and calm event.
Step 9 – Move in
Congratulations! It's time to move into your new house. Enjoy it. And if you have any questions, just contact me at (561) 626-7300 or send me an e-mail.