Buying or selling a home in Tucumcari?

With some up-front planning, buying a home isn't too complicated, but the event is intimidating for many people. I like to provide buyers with an outline of the entire deal so they understand exactly what to expect. Below are my nine steps to purchasing a home. When you're ready to get started, you can contact me here or e-mail me at . I'm happy to address questions you have regarding this information.

Step 1 – Prepare to purchase a home
There are many things you need to contemplate before you start looking for a home. When you start your search, you'll probably want to put together a check list of features you want to have, plan for what school districts and neighborhoods you'd like to live in, and begin working on your budget. Keeping your mortgage payment around 1/3 of your net monthly income is a good guideline to go by.

Step 2 – Connect with a real estate agent in Tucumcari
This is where McElroy & Associates can help. I'd like to plan a time to get together with you and communicate with you regarding why you want to buy a home and get an idea of your plans for the future. 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 schools in the Tucumcari area.

I can also help you start the loan process. There are some excellent mortgage professionals in Tucumcari, and I partner with a lot of them, so you'll be in great hands. They can assist you in deciding which kind of loan is best for you and help you get approved.

Step 3 – Begin your home search
After our first meeting, I'll begin searching for homes on the market that suit your needs. I'll research most of the homes and remove the bad ones, and then we'll set up appointments to tour the houses when it's most convenient for you.

As we view homes, I'll show you the positive features, as well as bad ones. And I'll ask you about things you like and don't like. Frequently, buyers update their must-have list as we view houses and some features become far more necessary than others. If that happens, I'll go back through the listings once again and narrow it down to the home of your dreams.

Step 4 – Know the market
My awareness of the Tucumcari housing market is a leading aspect in your house search. I am acquainted with all the schools and neighborhoods, and I can communicate what districts are "hot" and require immediate action and the ones that are "cool" and allow for more examination.

As we view homes, I'll make sure to communicate if the seller's asking price has room for bargaining or if I believe the home is "priced to sell." When working with an agent, be mindful and be sure to ask a lot of questions. Every real estate agent in Tucumcari will convince you they comprehend the housing market. If things don't add up, just call me at 575 461-2100 or e-mail me at , and I'll be more than happy to answer any questions you may have. My knowledge of the market will help you stay a step ahead throughout the entire process.

Step 5 – Find the home of your dreams
I'm certain we'll find the home of your dreams in Tucumcari. When we do, I'll thoroughly create your home purchase offer. The offer will be tailored with your needs in mind and the home, including some contingencies, such as obtaining financing, finishing the home inspection, and a clear title.

When presenting your purchase offer, you'll probably want to submit "earnest money." This is a cash deposit submitted to the seller to secure the offer to purchase the property, and it's usually put towards the closing costs. If your offer is accepted by the seller, we should close on the property about 30 to 60 days afterward. This allows ample time for your mortgage financing.

Step 6 – Negotiate
Most contracts aren't closed on the beginning offer, and it's pretty common to receive a counter offer. Don't let it alarm you. We'll figure out whether or not to accept the counter offer, propose our own counter offer, or decline the seller's offer and move on.

The state of the market will play a big part in how aggressively we negotiate the contract. In addition, we'll work within your financing budget. And at the end of the day, we'll create a deal that is best for you.

Step 7 – Get a loan
After the deal is finished, you'll start working with your mortgage lender to close the loan. It shouldn't take very long at all if you're already pre-approved, but you'll need to keep in close contact with your lender. And I'll take care of all the property information your lender will need 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 taking your loan application. This estimate is based on the loan amount. RESPA requirements require that it has to contain all closing costs and be within a strict range of accuracy, and I'll review the estimate and let you know if it all looks good.

Then we'll close on your house. This should occur at a title company or escrow office and will likely be a smooth and pleasant event.

Step 9 – Move in
Congratulations! Now you can move into your new home. Enjoy it. And if you need anything or 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.

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