Buying or selling a home in Tucumcari? McElroy & Associates can help.

Buying a home can be stressful for many people, but it isn't too difficult with a bit of up-front planning. So they know exactly what to expect, I will give buyers a road map of the entire deal. Here are my nine steps to buying a home. When you're ready to get started, simply contact me here or e-mail me at . I'm happy to answer any questions you have about this information.

Step 1 – Get ready to purchase a home
There are a lot of things you need to do before you search for a home. When you begin your search, you'll want to create a list of items you want to have, get a plan of what neighborhoods and school districts you'd like to live in, and begin planning your budget. Ensuring your mortgage payment is less than 30 percent of your net monthly income is a good rule to follow.

Step 2 – Get in touch with a real estate agent
That's where I can help. I'd be happy to plan a time to get together with you and speak with you regarding your real estate needs and get an idea of your plans for the future. We'll discuss neighborhoods, school districts in the Tucumcari area, the mortgage industry, and any additional economic factors that could affect your buying decision today or in the future.

In addition, I'll help you facilitate the loan process. I work with some of the finest mortgage professionals in Tucumcari, so you're in great hands. They'll assist you with choosing which type of loan is best for you and help you get qualified.

Step 3 – Start looking for a home
After we meet for the first time, I'll begin finding homes on the market that are a good fit for you. I'll preview many of the houses and exclude the duds, and then we'll book appointments to view the houses whenever it's most convenient for you.

When we view the homes, I'll point out good features and bad ones. I'll even ask you what things you like and dislike. It's pretty common for buyers to revise their wish list as we view houses and some items become far more necessary than others. If that happens, I'll search all the listings again and narrow it down to the house you've been wishing for.

Step 4 – Know the housing market
My awareness of the Tucumcari market is a leading agent in your home search. I am familiar with all the neighborhoods and schools, and I'll communicate some areas are "hot" and call for prompt action and others that are "cold" and allow for more examination.

As we tour houses, I'll be sure to tell you when the seller's asking price has room for negotiation and also when I know the home is "priced to sell." Any REALTOR in Tucumcari will convince you they truly understand the home market, but take note, and make sure you ask your agent plenty of questions. If it doesn't seem like they know everything, just call me at 575 461-2100 or e-mail me at , and I'd be more than happy to answer your questions. My knowledge of the market will keep you a step ahead through the entire deal.

Step 5 – Find the home you've been waiting for
We'll find the home of your dreams in the Tucumcari area, and when that happens, I'll thoroughly create your purchase offer. The offer will be tailored exactly to your needs and the home, including many contingencies, such as acquiring financing, carrying out the home inspection, and a clean title.

When we submit your purchase offer, you'll want to present "earnest money." This is a cash deposit given to the seller to secure an offer to buy the property. The amount is often put towards the cost of closing. If the seller accepts the offer, we should close on the property within 30 to 60 days afterward. This allows enough time for your mortgage financing.

Step 6 – Negotiate the deal
A lot of deals aren't closed on the beginning offer, and it's extremely common to receive a counter offer. Don't let this alarm you. We'll consider whether or not to agree to the counter offer, submit our own counter offer, or reject 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 assemble a deal that works well for you.

Step 7 – Obtain financing
Upon finalizing the deal, you'll begin working with your lender to close the loan. It shouldn't take very long at all if you're already pre-approved, but you'll want to keep in close contact with your mortgage lender. And I'll take care of all the property information your mortgage lender will need to close the loan.

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

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

Step 9 – Move in
Congratulations! It's time to move into your new house. Enjoy it. And if you need anything, make sure you 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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