Buying or selling a home? Dennis Hall Realty, LLC can help.
With a little planning ahead of time, buying a home isn't all that complex, but the event is stressful for many people.
So they'll understand exactly what to expect, I will provide buyers with an outline of the entire deal.
These are my nine steps to buying a home.
When you're ready to get started, simply contact me here or e-mail me at . I'm happy to address any questions you have regarding this information.
Step 1 – Get ready to purchase
There are plenty of things you need to take into account before you start looking for a home.
It's likely that you'll want to make a check list of items you need to have, get a feeling for what neighborhoods and school districts you'd like to live in, and begin planning around your budget.
A good principle to follow is that your mortgage payment should be close to a third of your net monthly income.
Step 2 – Speak with a real estate agent
This is where Dennis Hall Realty, LLC can help.
I'd like to book a time to meet with you and talk about your real estate needs 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 Tulsa area.
In addition, I'll help you facilitate the loan process.
There are some very good mortgage professionals in Tulsa, and I partner with a lot of them, so you're in great hands.
They can help you choose which kind of loan is best for you, as well as help you get qualified.
Step 3 – Start looking for a house
Following our first meeting, I'll begin looking for available houses on the market that are a great fit for you.
I'll get a sneak peek of many of the houses and ignore the bad ones, and then we'll set up appointments to view the homes when it's most convenient for you.
When we tour the homes, I'll point out good features, as well as negative ones. I'll also ask you about things you like and dislike.
It's pretty common for buyers to change their must-have list as we view homes and some features become far more important than others.
If such is the case, I'll search the listings again and narrow it down to the house you've been dreaming about.
Step 4 – Comprehend the housing market
My awareness of the Tulsa market is an imperative aspect in your home search. I'm familiar with all the neighborhoods and schools, and I'll let you know certain neighborhoods are "hot" and warrant prompt action and some that are "cool" and allow for careful analysis.
As we view homes, I'll be sure to tell you if the asking price has room for negotiation or if I believe the home is "priced to sell."
When working with an agent, be mindful and make sure you ask a lot of questions. Every real estate agent in Tulsa will tell you they truly know the housing market.
If things don't add up, call me at 918-447-8000 or e-mail me at , and I'd be glad to answer your questions. My knowledge of the market will help you stay a step above the rest through the entire deal.
Step 5 – Find the house you've been waiting for
I'm sure we'll find your dream house in the Tulsa area. When we do, I'll thoroughly create your home purchase offer. The offer will be tailored to suit your needs and the home, including some contingencies. A few examples are acquiring financing, completing the inspection, and a clear title.
Upon turning in your purchase offer, you'll want to submit "earnest money." This is a cash deposit submitted to the home seller to secure the offer to buy the property, and it's typically applied to the cost of closing. If the offer is accepted, we should close on the home within 30 to 60 days after. This allows sufficient time for your mortgage financing.
Step 6 – Negotiate the deal
A lot of deals aren't closed on the initial offer – it's very common to receive a counter offer. Don't let it alarm 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 go on.
Market conditions will play a vital role in how aggressively we negotiate the contract.
We'll also work within your budget. And at the end of the day, we'll formulate a contract that's best for you.
Step 7 – Get financing
After the deal is signed, you'll start working with your lender to close the loan.
If you're already pre-qualified, this shouldn't be a long process at all, but you'll need to keep in close contact with your lender.
And I'll care for all the property information your lender will need to close the loan.
Step 8 – Close the deal
Your mortgage lender will supply you with a Loan Estimate (LE) detailing your closing costs within three days of taking your application. You'll get a Loan Estimate (LE) outlining your closing costs from your lender within three days of getting your application.
The estimate is based on the loan amount, and RESPA requirements order that it has to contain all closing costs and fall within a narrow range of accuracy. I'll study the estimate and let you know if it all looks permissible.
Then we'll close on your house. This will probably happen at a title company or escrow office and will most likely be a smooth and easygoing occurrence.
Step 9 – Move in
Congratulations! Now you can move into your new home. Enjoy it. And if you need anything, make sure you call me at 918-447-8000 or e-mail me at .