Are you purchasing your home in Tarrytown? Joseph Baratta Realty can help.
For a lot of people, buying a home can be a stressful event. However, with a bit of planning ahead of time, it isn't too confusing.
I like to furnish buyers with a road map of the entire deal so they know exactly what to expect.
Here are my nine steps to buying a home.
Should you have questions regarding any of this information or if you're prepared to get started, you can contact me here or e-mail me at .
Step 1 – Prepare to purchase
Before you begin searching for a home, there are several things you need to do.
You'll most likely want to form an outline of must-haves, get a feeling for what school districts and neighborhoods you want to live in, and begin planning your budget.
Ensuring your mortgage payment is no more than a third of your monthly income is a good guideline to follow.
Step 2 – Speak with a real estate agent in Tarrytown
This is where Joseph Baratta Realty can help.
We can schedule a time to meet so we can talk about your real estate needs and get an idea of your upcoming plans.
We'll talk about everything from neighborhoods, school districts in the Tarrytown area, the mortgage industry, to any other economic factors that could affect your buying decision today or in the future.
In addition, I'll assist you in getting started on your loan.
There are some excellent mortgage professionals in Tarrytown, and I work with a lot of them, so you can rest assured that you're in great hands.
They will assist you with determining which type of loan is best for you and help you get approved.
Step 3 – Start house hunting
Following our first meeting, I'll start looking for houses on the market that meet your needs.
I'll get a sneak peek of most of the homes and remove the duds, and then we'll set up appointments to view the houses at a time that's convenient for you.
As we tour homes, I'll point out good features, as well as bad ones. I'll even ask you what things you like and dislike.
Usually, buyers update their wish list as we view homes and some things become far more substantial than others.
If that's the case, I'll search the listings once more and trim it down to the house of your dreams.
Step 4 – Comprehend the housing market
My awareness of the Tarrytown market is a fundamental element in your home search. I'm familiar with all the schools and neighborhoods, and I will let you know some areas are "hot" and call for prompt action and some that are "cold" and allow for cautiousness.
As we tour houses, I'll let you know if the list price has room for negotiation or if I believe the home is "priced to sell."
Any REALTOR will tell you they truly understand the home market, but trust your instincts, and be sure to ask your agent a lot of questions.
If things don't add up, contact me at 914-301-3277 or e-mail me at , and I'll be happy to answer any questions you might have. My market expertise will help you stay a step above the rest through the entire deal.
Step 5 – Find the home you've been looking for
We'll find your dream home in the Tarrytown area, and when we do, I'll thoroughly develop your home purchase offer. The offer will be tailored keeping your needs in mind and the home, including a lot of contingencies, such as getting financing, carrying out the inspection, and a clean title.
When we turn in your purchase offer, you'll likely want to submit "earnest money." This is a cash deposit given to a home seller to secure an offer to buy the property. The amount is usually put towards the cost of closing. If the seller accepts your offer, we should close on the home within 30 to 60 days after. This allows plenty of time for your mortgage financing.
Step 6 – Negotiate
Most contracts don't close on the initial offer – it's really common to receive a counter offer. Don't let this discourage you. We'll discuss whether or not to accept the counter offer, submit our own counter offer, or refuse the seller's offer and move on.
Market conditions determine how aggressively we negotiate the deal.
We'll also work within your budget. And at the end of the day, we'll assemble a contract that works well for you.
Step 7 – Secure financing
Upon completion of the deal, you'll begin working with your mortgage lender to close the loan.
If you've been pre-qualified, it won't be a long process at all, but you'll want to keep in close contact with your mortgage lender.
And I'll deal with all the property information your lender needs to close the loan.
Step 8 – Close the deal
You'll get a Loan Estimate (LE) outlining your closing costs from your mortgage lender within three days of receiving your loan application.
The estimate is based on the loan amount, and RESPA requirements dictate that it has to involve all closing costs and be within a close range of accuracy. I'll study the estimate and let you know if it all looks okay.
Then we'll close on your house. This will most likely take place at a title company or escrow office and will most often be a smooth and comfortable occurrence.
Step 9 – Move in
Congratulations! Now you can move into your new home. Enjoy it. And if you need anything or have any questions, make sure you contact me at 914-301-3277 or e-mail me at .