Are you buying a new home in Lampasas? Harrell & Associates Real Estate can help.
Purchasing a home can be stressful for a lot of people, but with some up-front planning, it isn't that complex. We like to provide buyers with an overview of the whole deal so they'll know exactly what they can expect. Below are our nine steps to purchasing a home.
Should you have questions about this information or if you're prepared to get started, just contact us here
Step 1 – Get ready to buy
Prior to beginning your home search, there are several things you need to contemplate. You'll probably want to make an outline of features you want, get an idea of what neighborhoods and school districts you want to live in, and begin working on your budget. Ensuring your mortgage payment is less than or around 1/3 of your net monthly income is a good rule to adhere to.
Step 2 – Contact a real estate agent in Lampasas
This is where we can help. We can arrange a time to meet so we can talk about why you want to buy a home and get an idea of your future plans. We'll talk about everything from neighborhoods, schools in the Lampasas area, the mortgage and housing industries, to any other economic factors that may potentially affect your purchase today or in the future.
In addition, we'll help you facilitate the loan process. We partner with some of Lampasas's finest mortgage professionals, so you're in great hands. They'll help you determine which kind of loan is best for you, as well as help you get qualified.
Step 3 – Begin house hunting
After we meet for the first time, we'll start looking for houses on the market that best suit you. We'll preview many of the homes and eliminate the bad ones, and then we'll set up appointments to tour the homes whenever it's convenient for you.
When we view houses, we'll call attention to good features and negative ones. we'll also ask you to talk about things you like and don't like. Usually, buyers change their wish list as we view homes and some things become far more substantial than others. If that happens, we'll go back through all the listings once again and narrow it down to the house you've been waiting for.
Step 4 – Know the housing market
An agent's knowledge of the Lampasas market is a leading element in your house search. And we can assure you we're well-versed in all the school districts and neighborhoods, and we will let you know some neighborhoods are "hot" and require immediate action and the ones that are "cold" and allow for careful consideration.
As we view houses, we'll let you know if the asking price has room for negotiation or if I believe the home is "priced to sell." Every REALTOR® will claim to know the housing market, but take notice, and be sure to ask your agent a lot of questions. If things don't add up, call us at 512-556-3131 or e-mail us at firstname.lastname@example.org, and we'll be happy to answer any questions you may have. Our market knowledge will keep you a step ahead throughout the entire deal.
Step 5 – Find the house you've been waiting for
We're sure we'll find your dream house in the Lampasas area. When we do, we'll meticulously create your home purchase offer. The offer will be tailored keeping your needs in mind, including many contingencies, such as acquiring financing, finishing the inspection, and a clear title.
When submitting your offer, most likely you'll want to present "earnest money." This is a cash deposit submitted to a home seller to secure an offer to purchase the property and is usually put towards the closing costs. If your offer is accepted, we should close on the property about 30 to 60 days afterward. This allows enough time for your mortgage financing.
Step 6 – Negotiate the deal
A lot of contracts aren't closed on the beginning offer, and it's really common to receive a counter offer. Don't let this discourage you. We'll consider whether or not to consent to the counter offer, propose our own counter offer, or reject the seller's offer and go on.
How aggressively we negotiate the contract depends on market circumstances. We'll also work within your budget. And when it's all said and done, we'll create a deal that is best for you.
Step 7 – Obtain financing
After the deal is signed, you'll begin working with your lender to close the loan. If you're pre-qualified, this won't take very long at all, but you need to stay in close contact with your mortgage lender. And we'll care for 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) detailing closing costs from your lender within three days of accepting your application. The estimate is formed from the loan amount, and RESPA requirements mandate that it has to include all closing costs and fall within a precise range of accuracy. we'll analyze the estimate and let you know if it all looks permissible.
Then we'll close on your home. This will most likely occur at a title company or escrow office and will likely be a smooth and peaceful occasion.
Step 9 – Move in
You made it! It's time to move into your new house. Enjoy it. And if you need anything, simply contact us at 512-556-3131 or send us an e-mail.