Contemplating purchasing your new home in Tucumcari?

Purchasing a home intimidates a lot of people, but with a little planning ahead of time, it's not all that complicated. I like to provide buyers with an outline of the entire deal so they know exactly what to expect. These are my nine steps to buying a home. If you have questions regarding any of this information or if you're prepared to get started, just contact me here or e-mail me at .

Step 1 – Prepare to purchase a home
There are a lot of things you need to consider prior to starting your home search. When you begin your search, you'll probably want to make a checklist of items you need to have, get an idea of what neighborhoods you want to live in, and start planning around your budget. Ensuring your mortgage payment is around a third of your net monthly income is a good principle to go by.

Step 2 – Speak with a real estate agent in Tucumcari
This is where I come in. We'll schedule a time to get together so we can talk about your real estate needs and get an idea of your future plans. We'll talk about neighborhoods, school districts in the Tucumcari area, the mortgage industry, and any additional economic factors that could potentially affect your buying decision today or in the future.

I can also help you start the loan process. I partner with some of Tucumcari's best mortgage professionals, so you'll be in great hands. They can assist you in determining which type of loan is best for you and help you get qualified.

Step 3 – Start looking for a home
Following our initial meeting, I'll start finding available houses on the market that suit your needs. I'll research many of the houses and remove the duds, and then we'll set up appointments to view the homes when it's most convenient for you.

As we view the homes, I'll point out good features, as well as negative ones. I'll even ask you to tell us about things you like and don't like. Frequently, buyers change their wish list as we view homes and some things become far more substantial than others. If that's the case, I'll search all the listings once more and trim it down to the house you've been dreaming about.

Step 4 – Get a grasp of the market
An agent's understanding of the Tucumcari market is a fundamental element in your house search. And I assure you I'm familiar with all the school districts and neighborhoods, and I'll communicate certain neighborhoods are "hot" and demand immediate action and some that are "cold" and allow for thoughtful examination.

As we tour houses, I'll be sure to tell you if the asking price has room for negotiation or if I believe the house is "priced to sell." Be mindful and be sure to ask your agent plenty of questions, as every REALTOR in Tucumcari will tell you they truly understand the home market. If it doesn't seem like they know everything, contact me at 575 461-2100 or e-mail me at , and I'd be more than happy to answer any questions you have. My knowledge of the market will keep you a step ahead through the entire process.

Step 5 – Find the home you've been looking for
We'll find the home of your dreams in Tucumcari, and when we do, I'll carefully develop your home purchase offer. The offer will be made to suit your needs and the home. We'll include a lot of contingencies, such as acquiring financing, carrying out the inspection, and a clean title.

When we send in your 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 often applied to the closing costs. If the offer is accepted by the seller, we should close on the property about 30 to 60 days after. This allows ample time for your mortgage financing.

Step 6 – Negotiate
A lot of contracts don't close on the beginning offer. It's really common to receive a counter offer. But don't let this intimidate you. We'll consider whether or not to accept the counter offer, present our own counter offer, or reject the seller's offer and go on.

The state of the market will play a large role in how aggressively we negotiate the contract. We'll also work within your financing limits. And at the end of the day, we'll create a deal that's best for you.

Step 7 – Secure your loan
Once the contract is finished, you'll start working with your lender to close the loan. If you're already pre-approved, it won't take much time at all, but you'll want to stay in close contact with your mortgage lender. And I'll manage all the property information your lender will need to close the loan.

Step 8 – Close the deal
Your mortgage lender will give you a Loan Estimate (LE) of your closing costs within three days of receiving your loan application. You'll get a Loan Estimate (LE) detailing your closing costs from your mortgage lender within three days of accepting your loan application. This estimate rests on the loan amount, and RESPA requirements dictate that it has to contain all closing costs and be within a precise range of accuracy. I'll study the estimate and let you know if everything looks permissible.

Then it's time to close on your home. This will most likely take place at a title company or escrow office and should be a smooth and peaceful affair.

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 contact me at 575 461-2100 or e-mail me at .