Buying a new home in Tulsa with Dennis Hall Realty, LLC
For most people, buying a home is a stressful event. However, with a little up-front planning, it's not that difficult.
I like to supply buyers with an overview of the entire deal so they'll understand exactly what they can expect.
Below are my nine steps to buying a home.
When you're ready to get started, just contact me here or e-mail me at . I'm happy to address questions you have regarding this information.
Step 1 – Get ready to buy
There are many things you'll want to take into account prior to starting your home search.
When you begin your search, you'll want to form a list of items you want, get an idea of what 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 to follow.
Step 2 – Contact a real estate agent in Tulsa
This is where I come in.
I'd love to book a time to get together with you and speak with you about why you want to buy a home and get an idea of your future plans.
We'll discuss the mortgage and housing industries, other economic factors that could affect your purchase today or in the future, as well as neighborhoods and schools in the Tulsa area.
I can also help you get started on your loan.
There are some very good mortgage professionals in Tulsa, and I work with a lot of them, so you'll be in great hands.
They'll help you figure out which kind of loan is best for you, as well as help you get qualified.
Step 3 – Begin house-hunting
Following our initial meeting, I'll start finding available homes on the market that are good for you.
I'll get a sneak peek of many of the homes and ignore the duds, and then we'll book appointments to tour the homes whenever it's most convenient for you.
When we tour homes, I'll identify positive features, as well as bad ones. I'll even ask you to talk about things you like and dislike.
It's common for buyers to amend their wish list as we view homes and some items become far more important than others.
If that's the case, I'll go back through the listings again and narrow it down to the house of your dreams.
Step 4 – Comprehend the market
My knowledge of the Tulsa market is a fundamental aspect in your home search. I am acquainted with all the neighborhoods and school districts, and I will communicate which neighborhoods are "hot" and warrant prompt action and others that are "cold" and allow for careful consideration.
When we view houses, I'll be sure to tell you when the asking price has room for bargaining and also when I trust the home is "priced to sell."
When working with an agent, trust your instincts and make sure you ask plenty of questions, as every real estate agent in Tulsa will claim to know the housing market.
If things don't add up, just call me at 918-447-8000 or e-mail me at , and I'd be glad to answer any questions you may have. My knowledge of the market will keep you a step ahead throughout the entire process.
Step 5 – Find the house of your dreams
We'll find the home of your dreams in the Tulsa area, and when that happens, I'll thoroughly develop your purchase offer. The offer will be tailored to suit your needs and the home, including a lot of contingencies, such as getting financing, finishing the home inspection, and a clear title.
When turning in your offer, most likely you'll want to present "earnest money." This is a cash deposit given to the home seller to secure an offer to buy the property. The amount is most often put towards the closing costs. If your offer is accepted, we should close on the property within 30 to 60 days after. This allows plenty of time for your mortgage financing.
Step 6 – Negotiate
Unfortunately most deals aren't closed on the beginning offer, and it's extremely common to receive a counter offer. But don't let it alarm you. We'll talk over whether or not to take 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 deal.
In addition, we'll work within your financing budget. And when it's all said and done, we'll assemble a contract that is best for you.
Step 7 – Get financing
Upon completing the contract, you'll begin working with your lender to close the loan.
If you're pre-approved, it shouldn't be a long process at all, but you need to stay in close contact with your lender.
And I'll sort out all the property information your mortgage lender will need to close the loan.
Step 8 – Close the deal
Your lender will send you a Loan Estimate (LE) detailing your closing costs within three days of accepting your application. You'll get a Loan Estimate (LE) of your closing costs from your mortgage lender within three days of receiving your loan application.
The estimate rests on the loan amount, and RESPA requirements dictate that it has to involve all closing costs and be within a tight range of accuracy. I'll review the estimate and let you know if it all looks permissible.
Then it's time to close on your home. This will likely take place at a title company or escrow office and is often a smooth and comfortable occasion.
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, make sure you contact me at 918-447-8000 or e-mail me at .