Purchasing a new home in Altona with Border Real Estate
Purchasing a home is stressful for most people, but it's not too difficult with some planning ahead of time. We like to provide buyers with an outline of the whole deal so they'll understand exactly what to expect. Here are our nine steps to purchasing a home.
When you're ready to get started, simply contact us here or send us e-mail. We're happy to address any questions you have regarding this information.
Step 1 – Prepare to purchase
Before you start searching for a home, there are a lot of things you'll want to consider. It's likely that you'll want to assemble a check list of must-have features, get a plan of what neighborhoods you'd like to live in, and begin planning around your budget. A good principle to go by is that your mortgage payment should be around 1/3 of your monthly income.
Step 2 – Get with a real estate agent in Altona
That's where we come in. We can arrange 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 the mortgage industry, other economic factors that could affect your purchase today or in the future, as well as neighborhoods and schools in the Altona area.
We'll also help you get started on your loan. We work with some of Altona's finest mortgage professionals, so you're in great hands. They will assist you with choosing which type of loan is best for you and help you get approved.
Step 3 – Start looking
After our first meeting, we'll start finding houses on the market that are a great fit for you. We'll preview many of the homes and exclude the bad ones, and then we'll schedule appointments to tour the homes whenever it's most convenient for you.
When we view homes, we'll show you the positive features and bad ones. we'll even ask you to tell us about things you like and dislike. Usually, buyers amend their list of must-haves as we tour houses and some features become far more substantial than others. If that happens, we'll look through all the listings again and narrow it down to the home of your dreams.
Step 4 – Understand the housing market
Our understanding of the Altona market is a fundamental asset in your home search. We're familiar with all the neighborhoods and schools, and we'll will communicate certain areas are "hot" and require immediate action and the others that are "cool" and allow for more analysis.
When we view houses, we'll make sure to communicate if the seller's asking price has room for negotiation or if I believe the house is "priced to sell." Every REALTOR® in Altona will convince you they truly understand the market, but take notice, and be sure to ask your agent a lot of questions. If things don't add up, call us at 204-324-8348 or e-mail us at email@example.com, and we'll be glad to answer any questions you have. Our understanding of the market will keep you a step above the rest through the entire process.
Step 5 – Find the home you've been looking for
We know we'll find the home of your dreams in the Altona area. When we do, we'll precisely create your purchase offer. The offer will be tailored keeping your needs in mind, including some contingencies. A few examples are acquiring financing, completing the inspection, and a clean title.
When turning in your purchase offer, you'll need to submit "earnest money." This is a cash deposit given to a seller to secure an offer to purchase the property and is typically applied to the cost of closing. If your offer is accepted, we should close on the home within 30 to 60 days afterward. This allows sufficient time for your mortgage financing.
Step 6 – Negotiate
A lot of deals don't close on the first offer, and it's pretty common to receive a counter offer. Don't let this intimidate you. We'll talk about whether or not to take the counter offer, propose our own counter offer, or decline the seller's offer and go on.
Market circumstances will play a role in how aggressively we negotiate the deal. In addition, we'll work within your budget. And when it's all said and done, we'll assemble a deal that works well for you.
Step 7 – Obtain financing
Upon finishing the contract, you'll start working with your mortgage lender to close the loan. It won't take much time at all if you're pre-qualified, but you need to keep in close contact with your mortgage lender. And we'll sort out all the property information your lender needs to close the loan.
Step 8 – Close the deal
Your mortgage lender will furnish you with a Good Faith Estimate (GFE) of closing costs within three days of receiving your loan application. This estimate is formed from 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 examine the estimate and let you know if it all looks good.
Then we'll close on your home. This will most often take place at a title company or escrow office and will most often be a smooth and easygoing affair.
Step 9 – Move in
Congratulations! It's time to move into your new home. Enjoy it. And if you need anything or have any questions, simply call us at 204-324-8348 or send us an e-mail.