Are you purchasing a home in Tucumcari? McElroy & Associates can help.

Purchasing a home is a stressful event for a lot of people. However, with a little up-front planning, it isn't very confusing. So they understand exactly what they can expect, I will supply buyers with an overview of the entire deal. Here are my nine steps to buying a home. When you're ready to get started, you can contact me here or e-mail me at . I'm glad to answer any questions you have about this information.

Step 1 – Get ready to purchase a home
There are several things you'll want to take into account before commencing your home search. It's likely that you'll want to make an index of items you need, get a feel for what neighborhoods you want to live in, and begin planning around your budget. A good guideline to adhere to is that your mortgage payment should be a third of your monthly income.

Step 2 – Connect with a real estate agent in Tucumcari
That's where I can help. I'd like to book a time to get together with you and talk about your real estate needs and get an idea of your plans for the future. We'll discuss the mortgage industry, 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'll also assist you in getting started on your loan. McElroy & Associates works with some of the finest mortgage professionals in Tucumcari, so you'll be in great hands. They will assist you in deciding which kind of loan is best for you and help you get qualified.

Step 3 – Start looking
After our first meeting, I'll begin looking for homes on the market that best suit you. I'll research many of the homes and exclude the duds, and then we'll schedule appointments to view the homes at a time that's convenient for you.

As we tour the homes, I'll call attention to good features and bad ones. I'll also ask you to talk about things you like and dislike. It's common for buyers to revise their list of must-haves as we tour houses and some things become more necessary than others. If such is the case, I'll go back through the listings again and trim it down to the house you've been dreaming about.

Step 4 – Know the market
My understanding of the Tucumcari market is an essential element in your home search. I'm familiar with all the neighborhoods and school districts, and I can communicate what neighborhoods are "hot" and require immediate action and others that are "cool" and allow for thoughtful analysis.

When we tour homes, I'll be sure to tell you if the asking price has room for negotiation or if I believe the home is "priced to sell." Any real estate agent will claim to know the housing market, but trust your instincts, and make sure you ask a lot of questions. If things don't add up, contact me at 575 461-2100 or e-mail me at , and I'll be more than happy to answer any questions you have. My knowledge of the market will help you stay a step above the rest through the entire deal.

Step 5 – Find your dream house
I'm confident we'll find the home of your dreams in the Tucumcari area. When we do, I'll thoroughly develop your purchase offer. The offer will be made to fit your needs and the home. We'll include a lot of contingencies, such as acquiring financing, carrying out the home inspection, and a clean title.

Upon turning in your purchase offer, most likely you'll need to submit "earnest money." This is a cash deposit submitted to a seller to secure the offer to buy the property, and it's usually put towards the cost of closing. If the seller accepts the offer, we should close within 30 to 60 days afterward. This allows plenty of time for your mortgage financing.

Step 6 – Negotiate
Most deals don't close on the initial offer. It's pretty common to receive a counter offer. But don't let it discourage you. We'll talk over whether or not to accept the counter offer, submit our own counter offer, or decline the seller's offer and go on.

Market circumstances determine how aggressively we negotiate the deal. In addition, we'll work within your financing limits. And when it's all said and done, we'll compose a deal that works well for you.

Step 7 – Secure a loan
Once we sign the final contract, you'll begin working with your mortgage lender to close the loan. If you're pre-qualified, it won't take much time at all, but you need to stay in close contact with your mortgage lender. And I'll care for all the property information your mortgage lender needs to close the loan.

Step 8 – Close the deal
You'll get a Loan Estimate (LE) outlining closing costs from your mortgage lender within three days of getting your application. The estimate is based on the loan amount, and RESPA requirements order that it has to include all closing costs and fall within a narrow range of accuracy. I'll review the estimate and let you know if everything looks all right.

Then we'll close on your house. This will most likely take place at a title company or escrow office and is often a smooth and peaceful event.

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