Let McElroy & Associates assist you in purchasing a new home in Tucumcari

Purchasing a home is an intimidating event for many people, but with a little up-front planning, it isn't too hard. So they'll know exactly what to expect, I will provide buyers with an outline of the entire deal. These are my nine steps to purchasing a home. When you're ready to get started, just contact me here or e-mail me at . I'm happy to answer questions you have regarding this information.

Step 1 – Get ready to buy
Before you begin your home search, there are plenty of things you need to consider. When you begin your search, you'll probably want to create a check list of items you want, get a plan of what neighborhoods and school districts you'd like to live in, and start planning around your budget. Keeping your mortgage payment less than or close to a third of your net monthly income is a good guideline to follow.

Step 2 – Speak with a real estate agent in Tucumcari
This is where McElroy & Associates comes in. I'd love to arrange a time to get together with you and speak with you regarding why you want to buy a home and get an idea of your future plans. We'll discuss the mortgage industry, other economic factors that may affect your purchase today or in the future, as well as neighborhoods and schools in the Tucumcari area.

I'll also help you facilitate the loan process. I partner with some of the best mortgage professionals in Tucumcari, so you're in great hands. They will assist you in determining which kind of loan is best for you and help you get qualified.

Step 3 – Begin your home search
After our initial meeting, I'll begin searching for houses on the market that meet your needs. I'll preview most of the houses and eliminate the duds, and then we'll schedule appointments to tour the homes when it's convenient for you.

When we view homes, I'll show you the positive features and bad ones. I'll even ask you to point out what things you like and don't like. Frequently, buyers amend their must-have list as we view houses and some features become far more essential than others. If that's the situation, I'll search all the listings again and trim it down to the house you've been wishing for.

Step 4 – Understand the market
My knowledge of the Tucumcari market is an imperative factor in your home search. I'm familiar with all the school districts and neighborhoods, and I will alert you to some areas are "hot" and call for immediate action and others that are "cold" and allow for careful examination.

As we view homes, I'll be sure to tell you if the seller's list price has room for bargaining or if I believe the house is "priced to sell." When working with an agent, be mindful and be sure to ask lots of questions. Every REALTOR will convince you they understand the home market. If it seems like they don't know everything, contact me at 575 461-2100 or e-mail me at , and I'd be happy to answer your questions. My knowledge of the market will keep you a step above the rest through the entire process.

Step 5 – Find your dream home
We'll find the house of your dreams in the Tucumcari area, and when we do, I'll thoroughly create your real estate purchase offer. The offer will be tailored to suit your needs and the home, including some contingencies, such as acquiring financing, carrying out the inspection, and a clean title.

Upon presenting your offer, you'll want to submit "earnest money." This is a cash deposit given to a seller to secure an offer to purchase the property and is most often applied to the closing costs. If the offer is accepted by the seller, we should close on the home about 30 to 60 days after. This allows sufficient time for your mortgage financing.

Step 6 – Negotiate
Unfortunately most deals aren't closed on the first offer, and it's very common to receive a counter offer. Don't let it intimidate you. We'll consider whether or not to accept the counter offer, propose our own counter offer, or decline 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 at the end of the day, we'll formulate a deal that's best for you.

Step 7 – Obtain your loan
Upon signing the deal, you'll start working with your lender to close the loan. This shouldn't take long at all if you're pre-qualified, but you should to stay in close contact with your mortgage lender. And I'll sort out all the property information your lender needs to close the loan.

Step 8 – Close the deal
You'll get a Loan Estimate (LE) of closing costs from your mortgage lender within three days of getting your application. The estimate is formed from the loan amount, and RESPA requirements dictate that it has to contain all closing costs and be within a tight range of accuracy. I'll go over the estimate and let you know if everything looks good.

Then it's time to close on your home. This will probably happen at a title company or escrow office and will most often be a smooth and hassle-free affair.

Step 9 – Move in
Congratulations! Now you can move into your new house. Enjoy it. And if you have any questions, simply 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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