Buying or selling a home?
Purchasing a home can be stressful for most people. However, with a bit of planning ahead of time, it's not that difficult.We like to supply buyers with an outline of the whole deal so they'll understand exactly what to expect.These are our nine steps to buying a home.
Step 1 – Get ready to purchase
There are plenty of things you should do prior to beginning your home search. When you begin your search, you'll want to make an outline of items you want to have, get an idea of what school districts and neighborhoods you want to live in, and begin working on your budget.Keeping your mortgage payment less than or close to a third of your monthly income is a good rule of thumb to follow.
Step 2 – Get with The Sanders Group
This is where we can help.We can plan 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 talk about everything from neighborhoods, schools in the Indianapolis area, the mortgage industry, to any other economic factors that could potentially affect your purchase today or in the future.
We'll also help you facilitate the loan process.There are some very good mortgage professionals in Indianapolis, and we work with a lot of them, so you can rest assured that you're in great hands.They'll help you decide which kind of loan is best for you, as well as help you get approved.
Step 3 – Start looking for a home
After we meet for the first time, we'll begin searching for homes on the market that best suit you.We'll research most of the homes and reject the duds, and then we'll book appointments to tour the homes whenever it's convenient for you.
When we view the houses, we'll identify positive features, as well as bad ones. we'll even ask you to tell us about things you like and dislike. It's pretty common for buyers to amend their must-have list as we view homes and some items become more necessary than others.If that happens, we'll go back through all the listings once again and trim it down to the house you've been waiting for.
Step 4 – Understand the market
An agent's awareness of the Indianapolis housing market is a fundamental element in your home search. And we assure you we're well-versed in all the neighborhoods and schools, and we'll communicate certain neighborhoods are "hot" and call for prompt action and the ones that are "cold" and allow for thoughtful analysis.
As we view homes, we'll let you know when the seller's asking price has room for bargaining and also when we trust the home is "priced to sell."Trust your instincts and make sure you ask plenty of questions, as any real estate agent will claim to understand the home market.If it doesn't seem like they know everything, just call us at (317) 337-9839 or e-mail us at AlexJr@thesandersgroup.net, and we'll be happy to answer your questions. Our market expertise will keep you a step ahead throughout the entire deal.
Step 5 – Find your dream house
We're confident we'll find the home of your dreams in the Indianapolis area. When that happens, we'll precisely create your purchase offer. The offer will be tailored keeping your needs in mind, including many contingencies. A few examples are obtaining financing, finishing the home inspection, and a clean title.
When submitting your offer, you'll likely want to submit "earnest money." This is a cash deposit made to a home seller to secure an offer to purchase the property. The amount is usually put towards the cost of closing. If your offer is accepted by the seller, we should close on the property within 30 to 60 days after. This allows ample time for your mortgage financing.
Step 6 – Negotiate the deal
Most deals aren't closed on the initial offer. It's really common to receive a counter offer. Don't let this intimidate you. We'll discuss whether or not to agree to the counter offer, submit our own counter offer, or reject the seller's offer and go on.
Market conditions determine how aggressively we negotiate the contract.We'll also work within your budget. And at the end of the day, we'll formulate a deal that is best for you.
Step 7 – Secure a loan
Upon finishing the deal, you'll begin working with your lender to close the loan.If you're already pre-approved, it shouldn't be a long process at all, but you'll want to stay in close contact with your mortgage lender.And we'll care for 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 Good Faith Estimate (GFE) of closing costs within three days of taking your loan application.The estimate depends on the loan amount, and RESPA requirements mandate that it has to contain all closing costs and be within a strict range of accuracy. we'll go over the estimate and let you know if everything looks adequate.
Then it's time to close on your house. This should happen at a title company or escrow office and will probably be a smooth and relaxing affair.
Step 9 – Move in
Success! It's time to move into your new home. Enjoy it. And if you need anything or have any questions, simply contact us at (317) 337-9839 or send us an e-mail.
uestions, be sure to call me at (317)337-9839 or send me an e-mail