Buying or selling a home? Dennis Hall Realty, LLC can help.
Purchasing a home is stressful for many people. However, with a little planning ahead of time, it isn't too difficult.
I like to supply buyers with a road map of the whole deal so they know exactly what they can expect.
These are my nine steps to purchasing a home.
Should you have any questions about any of this information or if you're ready to get started, you can contact me here or e-mail me at .
Step 1 – Prepare to purchase
There are plenty of things you should consider before you start searching for a home.
It's likely that you'll want to make a checklist of items you need, get a feel for what school districts and neighborhoods you want to live in, and begin working on your budget.
A good rule to go by is that your mortgage payment should be close to a third of your monthly income.
Step 2 – Get in touch with a real estate agent
This is where Dennis Hall Realty, LLC can help.
I'd be happy to book a time to get together with you and communicate with you regarding your real estate needs and get an idea of your plans for the future.
We'll talk about neighborhoods, school districts in the Tulsa area, the mortgage and housing industries, and any other economic factors that could affect your purchase today or in the future.
I can also help you get started on your loan.
There are some great mortgage professionals in Tulsa, and I work with a lot of them, so you can rest assured that you're in great hands.
They will help you determine which kind of loan is best for you, as well as help you get approved.
Step 3 – Begin looking
After we meet, I'll begin looking for homes on the market that are a good fit for you.
I'll research many of the houses and eliminate the duds, and then we'll schedule appointments to tour the homes when it's convenient for you.
When we tour houses, I'll identify good features, as well as bad ones. I'll even ask you to tell us about things you like and don't like.
It's pretty common for buyers to change their list of must-haves as we tour homes and some features become far more necessary than others.
If that's the case, I'll search all the listings once more and trim it down to the home of your dreams.
Step 4 – Know the housing market
My understanding of the Tulsa market is a crucial component in your home search. I am mindful of all the neighborhoods and schools, and I can communicate certain districts are "hot" and require immediate action and some that are "cold" and allow for cautiousness.
When we tour houses, I'll make sure to communicate if the asking price has room for negotiation or if I believe the house is "priced to sell."
When working with an agent, be on guard and make sure you ask plenty of questions. Every real estate agent will tell you they know the market.
If it appears they don't know everything, just call me at 918-447-8000 or e-mail me at , and I'll be happy to answer your questions. My understanding of the market will help you stay a step above the rest through the entire process.
Step 5 – Find the home of your dreams
I know we'll find your dream house in the Tulsa area. When we do, I'll carefully develop your real estate purchase offer. The offer will be tailored keeping your needs in mind and the home, including several contingencies, such as acquiring financing, finishing the home inspection, and a clean title.
When presenting your offer, you'll likely need to submit "earnest money." This is a cash deposit submitted to the home seller to secure the offer to purchase the property. The amount is often put towards the closing costs. If the offer is accepted, we should close on the property within 30 to 60 days after. This allows necessary time for your mortgage financing.
Step 6 – Negotiate
A lot of deals don't close on the beginning offer – it's pretty common to receive a counter offer. But don't let it intimidate you. We'll talk over whether or not to take the counter offer, present our own counter offer, or decline the seller's offer and go on.
The state of the market determines how aggressively we negotiate the deal.
We'll also work within your budget. And when it's all said and done, we'll put together a contract that is best for you.
Step 7 – Secure a loan
Upon completing the deal, you'll begin working with your lender to close the loan.
It won't take very long at all if you've been pre-approved, but you should to keep in close contact with your lender.
And I'll look after all the property information your mortgage lender needs to close the loan.
Step 8 – Close the deal
Your lender will give you a Loan Estimate (LE) outlining your closing costs within three days of accepting your application. You'll get a Loan Estimate (LE) outlining closing costs from your lender within three days of accepting your application.
This estimate rests on the loan amount. RESPA requirements dictate that it has to contain all closing costs and fall within a precise range of accuracy, and I'll review the estimate and let you know if it all looks adequate.
Then it's time to close on your house. This will most likely occur at a title company or escrow office and will probably be a smooth and stress-free occasion.
Step 9 – Move in
Congratulations! It's time to move into your new house. Enjoy it. And if you have any questions, be sure to contact me at 918-447-8000 or e-mail me at .