Buying or selling a home in Tucumcari?
Buying a home is an intimidating event for many people, but with some up-front planning, it's not very difficult.
I like to give buyers an overview of the whole deal so they know exactly what they can expect.
Here are my nine steps to buying a home.
Should you have any questions regarding this information or if you're prepared to get started, just contact me here or e-mail me at .
There are a lot of things you should do prior to starting your home search. It's likely that you'll want to assemble an index of must-have features, get a feel for what neighborhoods and school districts you want to live in, and start working on your budget. Ensuring your mortgage payment is around 30 percent of your monthly income is a good principle to go by. Step 2 – Talk to a real estate agent
This is where I come in. I'd like to schedule a time to get together with you and talk about why you want to buy a home and get an idea of your upcoming plans. We'll talk about everything from neighborhoods, school districts in the Tucumcari area, the mortgage and housing industries, to any other economic factors that could affect your buying decision today or in the future.
In addition, I'll help you get 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 with deciding which kind 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 meet your needs. I'll research many of the homes and reject the duds, and then we'll set up appointments to view the houses at a time that's convenient for you.
When we view homes, I'll call attention to positive features and bad ones. I'll also ask you to talk about things you like and dislike. Generally, buyers amend their must-have list as we view houses and some items become far more substantial than others. If that's the case, I'll look through the listings another time and trim it down to the house you've been wishing for.
Step 4 – Understand the housing market
My understanding of the Tucumcari market is an essential aspect in your house search. I'm informed of all the neighborhoods and school districts, and I'll communicate some areas are "hot" and demand immediate action and the ones that are "cold" and allow for cautiousness.
As we tour homes, I'll be sure to tell you if the seller's asking price has room for bargaining or if I believe the home is "priced to sell."
Every REALTOR will claim to truly understand the market, but be careful, and make sure you ask your agent lots of questions.
If things don't add up, contact me at 575 461-2100 or e-mail me at , and I'll be glad to answer any questions you have. My knowledge of the market will keep you a step ahead throughout the entire deal.
Step 5 – Find the house of your dreams
We'll find your dream home in the Tucumcari area, and when that happens, I'll carefully create your purchase offer. The offer will be tailored to suit your needs and the home, including several contingencies. A few examples are obtaining financing, carrying out the home inspection, and a clear title.
Step 6 – Negotiate
Unfortunately most deals don't close on the initial offer – it's very common to receive a counter offer. Don't let it alarm you. We'll discuss whether or not to agree to the counter offer, propose our own counter offer, or reject the seller's offer and move on.
Step 7 – Secure a loan
After the deal is finished, you'll begin working with your lender to close the loan. It shouldn't take much time at all if you're pre-approved, but you'll need to stay in close contact with your mortgage lender. And I'll take care of all the property information your lender needs to close the loan.
Step 8 – Close the deal
Your lender will give you a Good Faith Estimate (GFE) outlining your closing costs within three days of receiving your loan application. You'll get a Good Faith Estimate (GFE) of your closing costs from your lender within three days of receiving your loan application. This estimate is formed from the loan amount, and RESPA requirements dictate that it has to include all closing costs and be within a close range of accuracy. I'll examine the estimate and let you know if it all looks okay.
Step 9 – Move in
Congratulations! Now you can 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 .