Buying or selling a home in Edmond? Metro First Realty can help.
Buying a home can be stressful for most people. However, with a little up-front planning, it isn't that confusing.
I like to provide buyers with an outline of the whole deal so they understand exactly what to expect.
Below are my nine steps to buying a home.
If you have any questions regarding this information or if you're prepared to get started, just contact me here or e-mail me at .
Step 1 – Prepare to purchase a home
Before you start looking for a home, there are a lot of things you should consider.
You'll most likely want to form a check list of features you want to have, get a feel for what neighborhoods and school districts you want 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 go by.
Step 2 – Get in touch with a real estate agent in Edmond
This is where Metro First Realty comes in.
I'd love to schedule a time to get together with you and talk about your real estate needs and get an idea of your upcoming plans.
We'll talk about everything from neighborhoods, schools in the Edmond area, the mortgage and housing industries, to any other economic factors that could potentially affect your buying decision today or in the future.
In addition, I'll help you begin the loan process.
Metro First Realty partners with some of Edmond's best mortgage professionals, so you'll be in great hands.
They'll assist you in deciding which type of loan is best for you and help you get approved.
Step 3 – Begin looking for a home
After our first meeting, I'll begin finding houses on the market that best suit you.
I'll preview most of the houses and reject the duds, and then we'll book appointments to tour the homes when it's convenient for you.
As we tour houses, I'll point out positive features and negative ones. I'll even ask you to tell us about things you like and dislike.
Frequently, buyers revise their wish list as we tour homes and some features become far more important than others.
If that happens, I'll search all the listings another time and trim it down to the house you've been waiting for.
Step 4 – Comprehend the market
Your agent's knowledge of the Edmond market is an essential element in your house search. And I can assure you I'm mindful of all the neighborhoods and schools, and I'll let you know some neighborhoods are "hot" and call for immediate action and some that are "cold" and allow for more analysis.
When we view houses, I'll let you know when the list price has room for negotiation and when I trust the home is "priced to sell."
When working with an agent, be mindful and be sure to ask plenty of questions, as every REALTOR will claim to know the home market.
If things don't add up, contact me at (405) 414-7000 Carol or e-mail me at , and I'd be more than happy to answer any questions you may have. My understanding of the market will help you stay a step ahead throughout the entire deal.
Step 5 – Find the house you've been waiting for
We'll find your dream home in Edmond, and when that happens, I'll meticulously develop your home purchase offer. The offer will be made to fit your needs and the home. We'll include several contingencies, such as acquiring financing, carrying out the home inspection, and a clean title.
When turning in your purchase offer, you'll likely want to submit "earnest money." This is a cash deposit submitted to the home seller to secure the offer to buy the property, and it's most often put towards the cost of closing. If the seller accepts your offer, we should close on the home about 30 to 60 days afterward. This allows necessary time for your mortgage financing.
Step 6 – Negotiate
A lot of deals don't close on the beginning offer – it's really common to receive a counter offer. Don't let this intimidate you. We'll consider whether or not to accept the counter offer, propose our own counter offer, or refuse the seller's offer and move on.
How aggressively we negotiate the deal depends on market circumstances.
We'll also work within your budget. And when it's all said and done, we'll compose a contract that works well for you.
Step 7 – Get your loan
Once the deal is finalized, you'll begin working with your mortgage lender to close the loan.
If you're already pre-qualified, it won't be a long process at all, but you'll want to keep in close contact with your lender.
And I'll manage 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 Loan Estimate (LE) of closing costs within three days of accepting your loan application. You'll get a Loan Estimate (LE) detailing your closing costs from your mortgage lender within three days of getting your loan application.
This estimate is based on the loan amount, and RESPA requirements require that it has to include all closing costs and be within a close range of accuracy. I'll review the estimate and let you know if it all looks permissible.
Then we'll close on your home. This will likely happen at a title company or escrow office and will most likely be a smooth and comfortable affair.
Step 9 – Move in
Congratulations! Now you can move into your new home. Enjoy it. And if you have any questions, make sure you contact me at (405) 414-7000 Carol or e-mail me at .