Contemplating purchasing a home in Tarrytown?
With some up-front planning, buying a home isn't all that complicated, but the event is stressful for a lot of people.
So they understand exactly what to expect, I will provide buyers with an outline of the whole deal.
Below are my nine steps to purchasing a home.
When you're ready to get started, simply contact me here or e-mail me at . I'm glad to address questions you have regarding this information.
Step 1 – Prepare to purchase a home
There are many things you need to consider prior to starting your home search.
When you begin your search, you'll probably want to form a list of features you need, get a plan of what neighborhoods and school districts you'd like to live in, and start planning your budget.
Keeping your mortgage payment less than 30 percent of your monthly income is a good rule to follow.
Step 2 – Get in touch with a real estate agent in Tarrytown
This is where I can help.
We'll arrange a time to get together so we can talk about why you want to buy a home and get an idea of your upcoming plans.
We'll talk about the mortgage and housing industries, other economic factors that may affect your buying decision today or in the future, as well as neighborhoods and schools in the Tarrytown area.
I'll also assist you in getting started on your loan.
There are some very good mortgage professionals in Tarrytown, and I partner with a lot of them, so you'll be 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 – Begin looking for a house
After our first meeting, I'll begin searching for available homes on the market that are a great fit for you.
I'll research most of the homes and ignore the duds, and then we'll schedule appointments to tour the homes at a time that's convenient for you.
As we tour homes, I'll call attention to good features, as well as negative ones. I'll also ask you to point out what things you like and don't like.
As a rule, buyers change their wish list as we tour homes and some items become far more important than others.
If such is the case, I'll go back through the listings again and trim it down to the home of your dreams.
Step 4 – Know the housing market
An agent's knowledge of the Tarrytown home market is an imperative element in your home search. And I can assure you I'm mindful of all the neighborhoods and school districts, and I'll let you know certain neighborhoods are "hot" and call for prompt action and the ones that are "cool" and allow for more examination.
When we view houses, I'll let you know when the seller's list price has room for bargaining and when I know the house is "priced to sell."
When working with an agent, be on guard and be sure to ask lots of questions, as every real estate agent in Tarrytown will convince you they understand the home market.
If things don't add up, contact me at 914-301-3277 or e-mail me at , and I'll be happy to answer your questions. My market knowledge will help you stay a step above the rest through the entire deal.
Step 5 – Find your dream house
We'll find your dream house in the Tarrytown area, and when that happens, I'll carefully develop your home purchase offer. The offer will be made to fit your needs and the home. We'll include many contingencies, such as getting financing, finishing the home inspection, and a clean title.
Upon submitting your offer, most likely you'll want to submit "earnest money." This is a cash deposit submitted to the seller to secure an offer to buy the property. The amount is most often put towards the cost of closing. If your offer is accepted, we should close within 30 to 60 days afterward. This allows plenty of time for your mortgage financing.
Step 6 – Negotiate the deal
Most contracts don't close on the first offer, and it's really common to receive a counter offer. Don't let this intimidate you. We'll talk over whether or not to consent to the counter offer, propose our own counter offer, or refuse the seller's offer and move on.
Market conditions determine how aggressively we negotiate the contract.
In addition, we'll work within your financing budget. And when it's all said and done, we'll assemble a contract that works well for you.
Step 7 – Obtain financing
After the deal is finished, you'll begin working with your mortgage lender to close the loan.
If you've been pre-approved, this won't take long at all. However, you'll want to keep in close contact with your mortgage lender.
And I'll take care of all the property information your lender will need to close the loan.
Step 8 – Close the deal
You'll get a Loan Estimate (LE) outlining closing costs from your mortgage lender within three days of receiving your loan application.
This estimate is based on the loan amount. RESPA requirements require that it has to contain all closing costs and fall within a narrow range of accuracy, and I'll examine the estimate and let you know if everything looks permissible.
Then it's time to close on your house. This will likely take place at a title company or escrow office and will most likely be a smooth and relaxed affair.
Step 9 – Move in
Congratulations! It's time to move into your new home. Enjoy it. And if you have any questions, simply contact me at 914-301-3277 or e-mail me at .