Buying or selling a home?

Buying a home is a stressful event for many people, but with a bit of up-front planning, it's not all that hard. So they'll know exactly what to expect, I'll provide buyers with a road map of the whole deal. These are my nine steps to buying a home. When you're ready to get started, just contact me here or e-mail me at . I'm glad to answer questions you have regarding this information.

Step 1 – Prepare to purchase a home
Prior to starting your home search, there are many things you'll want to contemplate. You'll want to make a list of items you need to have, get a feel for what neighborhoods and school districts you'd like to live in, and start planning around your budget. Ensuring your mortgage payment is less than 30 percent of your net monthly income is a good rule of thumb to go by.

Step 2 – Talk to a real estate agent in Tucumcari
This is where McElroy & Associates can help. We can schedule a time to get together so we can talk about why you want to buy a home and get an idea of your plans for the future. We'll discuss neighborhoods, school districts in the Tucumcari area, the mortgage and housing industries, and any additional economic factors that may affect your buying decision today or in the future.

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

Step 3 – Begin your home search
After we meet for the first time, I'll start looking for available houses on the market that are good for you. I'll research many of the homes and exclude the bad ones, and then we'll set up appointments to view the homes whenever it's convenient for you.

When we tour the homes, I'll point out positive features, as well as negative ones. I'll also ask you to point out what things you like and dislike. Frequently, buyers revise their must-have list as we view homes and some items become more essential than others. If that's the case, I'll go back through the listings one more time and trim it down to the house of your dreams.

Step 4 – Comprehend the housing market
My knowledge of the Tucumcari home market is an essential aspect in your home search. I am conscious of all the neighborhoods and school districts, and I can alert you to what neighborhoods are "hot" and call for prompt action and the ones that are "cold" and allow for more consideration.

When we view houses, I'll make sure to communicate when the asking price has room for negotiation and also when I trust the home is "priced to sell." Every real estate agent will convince you they truly know the market, but be careful, and be sure to ask 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 market knowledge will help you stay a step ahead throughout the entire process.

Step 5 – Find the home you've been looking for
We'll find the house of your dreams in the Tucumcari area, and when that happens, I'll precisely create your real estate purchase offer. The offer will be made to suit your needs and the home. We'll include several contingencies, such as getting financing, finishing the inspection, and a clean title.

When we send in your offer, most likely you'll want to submit "earnest money." This is a cash deposit made to the home seller to secure an offer to buy the property, and it's most often put towards the cost of closing. If the offer is accepted, we should close about 30 to 60 days afterward. This allows enough time for your mortgage financing.

Step 6 – Negotiate the deal
Most contracts aren't closed on the beginning offer. It's widely common to receive a counter offer. Don't let it discourage you. We'll talk about whether or not to take the counter offer, submit our own counter offer, or reject the seller's offer and move on.

How aggressively we negotiate the deal depends on market circumstances. In addition, we'll work within your budget. And when it's all said and done, we'll create a deal that works well for you.

Step 7 – Obtain financing
Once we sign the final contract, you'll begin working with your mortgage lender to close the loan. It won't take very long at all if you've been pre-qualified, but you need to keep in close contact with your lender. And I'll sort out 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) detailing closing costs from your mortgage lender within three days of getting your application. This estimate rests on the loan amount, and RESPA requirements dictate that it has to involve all closing costs and be within a precise range of accuracy. I'll examine the estimate and let you know if it all looks all right.

Then it's time to close on your house. This will most likely occur at a title company or escrow office and will most often be a smooth and comfortable event.

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