Contemplating buying a new home in Tucumcari?

Purchasing a home is stressful for a lot of people. However, with a bit of up-front planning, it isn't that complex. So they'll know exactly what they can expect, I'll furnish buyers with an outline of the entire deal. Here are my nine steps to purchasing a home. When you're ready to get started, simply contact me here or e-mail me at . I'm glad to address any questions you have about this information.

Step 1 – Get ready to purchase a home
Prior to beginning your home search, there are many things you'll want to contemplate. When you start your search, you'll probably want to put together a check list of must-have features, plan for what school districts you'd like to live in, and start planning around your budget. A good rule to go by is that your mortgage payment should be less than or around 30 percent of your monthly income.

Step 2 – Talk to a real estate agent
This is where McElroy & Associates can help. We'll plan a time to get together so we can talk about your real estate needs and get an idea of your upcoming plans. We'll discuss everything from neighborhoods, schools in the Tucumcari area, the mortgage and housing industries, to any other economic factors that might affect your buying decision today or in the future.

I can also assist you with getting started on your loan. There are some great mortgage professionals in Tucumcari, and I partner with a lot of them, so you're in great hands. They can help you determine which kind of loan is best for you, as well as help you get approved.

Step 3 – Begin your search
Following our initial meeting, I'll begin looking for homes on the market that are a great fit for you. I'll research many of the homes and eliminate the duds, and then we'll set up appointments to tour the homes when it's convenient for you.

When we view the homes, I'll point out positive features, as well as bad ones. I'll even ask you what things you like and don't like. It's widely common for buyers to amend their list of must-haves as we view houses and some things become far more essential than others. If that's the situation, I'll look through all the listings one more time and trim it down to the house you've been wishing for.

Step 4 – Get a grasp of the market
My knowledge of the Tucumcari market is an essential component in your house search. I'm informed of all the school districts and neighborhoods, and I can communicate what areas are "hot" and warrant immediate action and others that are "cool" and allow for cautiousness.

As we view homes, I'll let you know if the seller's asking price has room for negotiation or if I believe the home is "priced to sell." Be on guard and make sure you ask a lot of questions, as any REALTOR in Tucumcari will claim to comprehend the market. If it appears they don't know everything, contact me at 575 461-2100 or e-mail me at , and I'll be glad to answer any questions you may have. My market expertise will help you stay a step ahead through the entire deal.

Step 5 – Find the house you've been waiting for
We'll find your dream house in Tucumcari, and when we do, I'll carefully develop your home purchase offer. The offer will be tailored with your needs in mind and the home, including many contingencies, such as getting financing, carrying out the home inspection, and a clean title.

Upon submitting your purchase offer, you'll need to submit "earnest money." This is a cash deposit submitted to the seller to secure an offer to purchase the property. The amount is most often applied to the cost of closing. 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. But don't let it discourage you. We'll talk over whether or not to consent to the counter offer, present our own counter offer, or decline the seller's offer and go on.

How aggressively we negotiate the contract depends on the state of the market. In addition, we'll work within your financing limits. And when it's all said and done, we'll compose a contract that's best for you.

Step 7 – Obtain a loan
After the contract is finalized, you'll begin working with your mortgage lender to close the loan. If you're already pre-approved, it shouldn't take long at all. But you should to keep in close contact with your lender. And I'll care for all the property information your mortgage lender will need to close the loan.

Step 8 – Close the deal
Your lender will send you a Loan Estimate (LE) of closing costs within three days of getting your loan application. You'll get a Loan Estimate (LE) outlining closing costs from your mortgage lender within three days of getting your loan application. This estimate rests on the loan amount. RESPA requirements mandate that it has to include all closing costs and be within a narrow range of accuracy, and I'll examine the estimate and let you know if everything looks okay.

Then we'll close on your home. This will most often occur at a title company or escrow office and will most often be a smooth and comfortable event.

Step 9 – Move in
Congratulations! Now you can move into your new home. Enjoy it. And if you have any questions, just contact me at 575 461-2100 or e-mail me at .

Looking to Sell?

Are you looking to sell your house? Let us help you. Just fill out as much of the information below that you want and we'll get right back to you, with no obligation to you. We guarantee your privacy.

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