Looking to purchase your new home in Tucumcari? McElroy & Associates can help.

Purchasing a home is an intimidating event for many people. However, with some up-front planning, it isn't all that confusing. So they'll know exactly what they can expect, I'll supply buyers with an overview of the entire deal. Here are my nine steps to buying a home. Should you have any questions about any of this information or if you're prepared to get started, you can contact me here or e-mail me at .

Step 1 – Prepare to purchase a home
Before you begin your home search, there are many things you need to contemplate. When you start your search, you'll want to form a checklist of must-have features, plan for what neighborhoods you'd like to live in, and begin working on your budget. Keeping your mortgage payment less than or close to 30 percent of your net monthly income is a good guideline to go by.

Step 2 – Talk to a real estate agent in Tucumcari
This is where McElroy & Associates can help. I'd be more than happy to book a time to get together with you and speak with you about why you want to buy a home and get an idea of your future plans. We'll talk about the mortgage and housing industries, other economic factors that could affect your purchase today or in the future, as well as neighborhoods and school districts in the Tucumcari area.

I can also assist you in getting started on your loan. I partner with some of Tucumcari's finest mortgage professionals, so you can rest assured that you're in great hands. They will assist you in choosing which type of loan is best for you and help you get qualified.

Step 3 – Begin looking for a home
After 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 houses and ignore the bad ones, and then we'll set up appointments to view the houses whenever it's convenient for you.

When we tour houses, I'll show you the positive features, as well as negative ones. I'll even ask you about things you like and dislike. It's widely common for buyers to change their must-have list as we view houses and some items become more important than others. If that's the case, I'll search the listings another time and narrow it down to the home you've been waiting for.

Step 4 – Understand the market
An agent's knowledge of the Tucumcari housing market is a leading factor in your house search. And I can assure you I'm conscious of all the school districts and neighborhoods, and I'll alert you to which districts are "hot" and warrant prompt action and others that are "cool" and allow for careful examination.

When we tour houses, I'll be sure to tell you when the seller's asking price has room for bargaining and also when I believe the home is "priced to sell." When working with an agent, be mindful and be sure to ask lots of questions, as any real estate agent in Tucumcari will tell you they truly know the housing market. If it appears they don't know everything, call me at 575 461-2100 or e-mail me at , and I'd be more than happy 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 home you've been waiting for
I know we'll find the home of your dreams in Tucumcari. When that happens, I'll carefully create your real estate purchase offer. The offer will be tailored with your needs in mind and the home, including some contingencies. A few examples are getting financing, finishing the inspection, and a clear title.

When turning in your purchase offer, you'll need to submit "earnest money." This is a cash deposit given to the home seller to secure the offer to buy the property and is often applied to the closing costs. If the seller accepts the offer, we should close on the property within 30 to 60 days after. This allows ample time for your mortgage financing.

Step 6 – Negotiate the deal
A lot of deals aren't closed on the initial offer – it's widely common to receive a counter offer. Don't let this intimidate you. We'll discuss whether or not to accept the counter offer, submit our own counter offer, or reject the seller's offer and go on.

Market conditions will play a vital role in how aggressively we negotiate the deal. We'll also work within your financing budget. And at the end of the day, we'll formulate a deal that works well for you.

Step 7 – Secure a loan
Upon finalizing the deal, you'll start working with your lender to close the loan. If you've been pre-approved, it shouldn't take long at all. But you'll need to keep in close contact with your lender. And I'll manage all the property information your lender needs to close the loan.

Step 8 – Close the deal
You'll get a Loan Estimate (LE) detailing your closing costs from your mortgage lender within three days of receiving your application. The estimate depends on the loan amount. RESPA requirements require that it has to involve all closing costs and fall within a close range of accuracy, and I'll study the estimate and let you know if everything looks good.

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

Step 9 – Move in
Congratulations! It's time to move into your new home. Enjoy it. And if you have any questions, make sure you call 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.

Your Information
Some Details