Buying or selling a home in Tucumcari?

For a lot of people, purchasing a home can be a stressful event. However, with a bit of planning ahead of time, it's not all that hard. So they'll understand exactly what they can expect, I will supply buyers with a road map of the entire deal. These 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 – Get ready to buy
There are plenty of things you should do before you look for a home. When you begin your search, you'll want to put together an outline of features you want to have, plan for what neighborhoods you want to live in, and begin planning around your budget. Ensuring your mortgage payment is less than or around 1/3 of your monthly income is a good rule to adhere to.

Step 2 – Speak with a real estate agent
That's where I come in. We'll book a time to meet so we can talk about your real estate needs and get an idea of your future plans. We'll discuss neighborhoods, schools in the Tucumcari area, the mortgage industry, and any additional economic factors that may potentially affect your purchase today or in the future.

In addition, I'll help you facilitate the loan process. McElroy & Associates partners with some of the best mortgage professionals in Tucumcari, so you can rest assured that you're in great hands. They will help you figure out which kind of loan is best for you, as well as help you get qualified.

Step 3 – Start looking for a house
After we meet for the first time, I'll begin finding homes on the market that suit your needs. I'll research many of the houses and eliminate the bad ones, and then we'll book appointments to tour the houses at a time that's convenient for you.

As we view the houses, I'll show you the good features, as well as negative ones. And I'll ask you to talk about things you like and don't like. It's widely common for buyers to update their wish list as we view houses and some things become more necessary than others. If that's the situation, I'll look through all the listings one more time and narrow it down to the home of your dreams.

Step 4 – Know the housing market
My understanding of the Tucumcari home market is an essential aspect in your home search. I am acquainted with all the school districts and neighborhoods, and I can let you know what districts are "hot" and call for immediate action and others that are "cold" and allow for careful consideration.

As we tour homes, I'll make sure to communicate when the list price has room for negotiation and also when I know the house is "priced to sell." Any REALTOR in Tucumcari will convince you they comprehend the home market, but take note, and be sure to ask lots of questions. If it seems like they don't know everything, just call me at 575 461-2100 or e-mail me at , and I'll be happy to answer any questions you may have. My market knowledge will help you stay a step above the rest throughout the entire deal.

Step 5 – Find the home of your dreams
We'll find your dream house in the Tucumcari area, and when we do, I'll meticulously develop your home purchase offer. The offer will be tailored to suit your needs and the home, including many contingencies, such as getting financing, completing the home inspection, and a clean title.

When turning in your offer, you'll need to submit "earnest money." This is a cash deposit given to the seller to secure an offer to buy the property and is usually applied to the closing costs. If your offer is accepted by the seller, we should close about 30 to 60 days afterward. This allows ample time for your mortgage financing.

Step 6 – Negotiate
Unfortunately most contracts don't close on the initial offer. It's really common to receive a counter offer. But don't let it discourage you. We'll talk about whether or not to agree to the counter offer, present our own counter offer, or refuse the seller's offer and go on.

How aggressively we negotiate the deal depends on market conditions. In addition, we'll work within your financing constraints. And at the end of the day, we'll create a contract that's best for you.

Step 7 – Obtain financing
Once we sign the final deal, you'll begin working with your lender to close the loan. If you're pre-approved, this won't take much time at all, but you'll need to keep in close contact with your 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
Your mortgage lender will give you a Loan Estimate (LE) detailing closing costs within three days of taking your loan application. You'll get a Loan Estimate (LE) outlining your closing costs from your lender within three days of receiving your application. This estimate depends on the loan amount. RESPA requirements mandate that it has to involve all closing costs and be within a close range of accuracy, and I'll study the estimate and let you know if everything looks okay.

Then we'll close on your home. This will likely happen at a title company or escrow office and will probably be a smooth and stress-free event.

Step 9 – Move in
Congratulations! It's time to move into your new house. Enjoy it. And if you have any questions, make sure you contact me at 575 461-2100 or e-mail me at .