Buying or selling a home in Spicewood?
With some up-front planning, buying a home isn't very confusing, but the event is stressful for a lot of people. So you understand exactly what to expect, I like to provide my buyers with an overview of the entire deal. Below are my nine steps to buying a home with Hollingsworth Real Estate Group @ JS Center.
When you're ready to get started, just contact me here or send me e-mail
. I'm glad to address any questions you have regarding this information.
Step 1 – Prepare to buy
Prior to beginning your home search, there are plenty of things you should consider. You'll most likely want to assemble a list of features you need to have, get a feeling for what school districts you'd like to live in, and start working on your budget. Ensuring your mortgage payment is around 1/3 of your monthly income is a good rule of thumb to follow.
Step 2 – Talk to a real estate agent
This is where I come in. I'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 discuss everything from neighborhoods, schools in the Spicewood area, the mortgage and housing industries, to any other economic factors that could affect your buying decision today or in the future.
I'll also assist you with getting started on your loan. There are some excellent mortgage professionals in Spicewood, and I work with a lot of them, so you're in great hands. They will help you decide which type of loan is best for you, as well as help you get qualified.
Step 3 – Begin your home search
After we meet for the first time, I'll start finding houses on the market that are a great fit for you. I'll preview most of the homes and throw out the duds, and then we'll schedule appointments to view the houses whenever it's convenient for you.
When we view the houses, I'll call attention to positive features, as well as bad ones. I'll also ask you about things you like and don't like. It's common for buyers to update their wish list as we view houses and some things become far more essential than others. If that's the situation, I'll go back through the listings one more time and trim it down to the house of your dreams.
Step 4 – Understand the housing market
Your agent's awareness of the Spicewood market is an essential agent in your house search. And I assure you I'm informed of all the neighborhoods and school districts, and I'll let you know some districts are "hot" and demand prompt action and the others that are "cool" and allow for more analysis.
When we view homes, I'll let you know if the seller's list price has room for bargaining or if I believe the house is "priced to sell." Be on guard and make sure you ask lots of questions, as every real estate agent in Spicewood will convince you they truly know the market. If it appears they don't know everything, contact me at 832-723-3301 or e-mail me at Lee@hollingsworthrealestategroup.com, and I'd be glad to answer your questions. My market knowledge will keep you a step ahead through the entire deal.
Step 5 – Find the house you've been looking for
I'm sure we'll find your dream house, and when that happens, I'll carefully develop your home purchase offer. The offer will be made exactly to your needs. Whenever necessary, I never forget to make contracts contingent upon items like your ability to secure financing and the results of the home inspection.
When we present your offer, you'll probably need to submit "earnest money." This is a cash deposit submitted to the home seller to secure the offer to purchase the property, and it's most often put towards the closing costs. If the seller accepts your offer, 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
A lot of deals don't close on the initial offer – it's extremely common to receive a counter offer. Don't let it discourage 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.
Market circumstances determine how aggressively we negotiate the deal. In addition, we'll work within your financing budget. And when it's all said and done, we'll compose a deal that is best for you.
Step 7 – Obtain your loan
After we sign the final sales contract, you'll start working with your mortgage lender to close the loan. If you've been pre-approved, it shouldn't take much time at all. But you'll want to keep in close contact with your lender. And I'll handle all the property information your mortgage lender will need to close the loan.>
Step 8 – Close the deal
Your mortgage lender will furnish you with a Good Faith Estimate (GFE) of closing costs within three days of getting your application. This estimate rests on the loan amount. RESPA requirements order that it has to involve all closing costs and fall within a close range of accuracy, and I'll go over the estimate and let you know if everything looks all right.
Then it's time to close on your home. This will likely occur at a title company or escrow office and will most often be a smooth and relaxed occasion.
Step 9 – Move in
Success! It's time to move into your new house. Enjoy it. And if you need anything or have any questions, just contact me at 832-723-3301 or send me an e-mail. HREG - Hollingsworth Real Estate Group @ Hollingsworth Center