Let Dennis Hall Realty, LLC help you with buying your new home in Tulsa
For many people, buying a home is a stressful event. But with a bit of planning ahead of time, it isn't very hard.
So they'll know exactly what to expect, I'll give buyers a road map of the whole deal.
Here are my nine steps to purchasing a home.
If you have any questions regarding this information or if you're ready to get started, simply contact me here or e-mail me at .
Step 1 – Prepare to buy a home
There are several things you'll want to do prior to beginning your home search.
You'll want to make a check list of items you need, get an idea of what school districts and neighborhoods you'd like to live in, and begin planning around your budget.
Ensuring your mortgage payment is no more than 30 percent of your net monthly income is a good principle to go by.
Step 2 – Communicate with a real estate agent
This is where Dennis Hall Realty, LLC can help.
I'd be more than happy to plan a time to meet with you and speak with you regarding your real estate needs and get an idea of your future plans.
We'll discuss the mortgage and housing industries, other economic factors that may potentially affect your buying decision today or in the future, as well as neighborhoods and schools in the Tulsa area.
I can also assist you in getting started on your loan.
There are some very good mortgage professionals in Tulsa, and I partner with a lot of them, so you're in great hands.
They will help you figure out which type of loan is best for you, as well as help you get qualified.
Step 3 – Start your home search
After our first meeting, I'll start looking for available homes on the market that meet your needs.
I'll preview most of the houses and eliminate the duds, and then we'll set up appointments to view the houses whenever it's most convenient for you.
When we tour the houses, I'll identify positive features, as well as negative ones. I'll even ask you what things you like and don't like.
Most often, buyers change their must-have list as we tour houses and some things become more important than others.
If that's the situation, I'll go back through all the listings one more time and trim it down to the home you've been waiting for.
Step 4 – Understand the market
My knowledge of the Tulsa market is an essential agent in your home search. I'm conscious of all the neighborhoods and schools, and I will let you know some neighborhoods are "hot" and call for immediate action and some that are "cool" and allow for careful analysis.
When we tour homes, I'll let you know if the list price has room for bargaining or if I believe the house is "priced to sell."
Any REALTOR will convince you they truly understand the housing market, but beware, and be sure to ask your agent plenty of questions.
If it doesn't seem like they know everything, contact me at 918-447-8000 or e-mail me at , and I'd be more than happy to answer your questions. My knowledge of the market will keep you a step above the rest throughout the entire process.
Step 5 – Find the house you've been waiting for
I'm confident we'll find the home of your dreams in the Tulsa area. When we do, I'll precisely create your purchase offer. The offer will be tailored with your needs in mind and the home, including several contingencies. A few examples are obtaining financing, finishing the home inspection, and a clear title.
When presenting your offer, you'll need to submit "earnest money." This is a cash deposit submitted to a seller to secure the offer to purchase the property and is often applied to the cost of closing. If the offer is accepted, we should close about 30 to 60 days after. This allows ample time for your mortgage financing.
Step 6 – Negotiate
Most contracts don't close on the first offer – it's pretty common to receive a counter offer. But don't let this discourage you. We'll talk over whether or not to consent to the counter offer, present our own counter offer, or refuse the seller's offer and go on.
Market circumstances will play a vital role in how aggressively we negotiate the contract.
In addition, we'll work within your financing constraints. And at the end of the day, we'll assemble a contract that works well for you.
Step 7 – Obtain financing
After we sign the final sales contract, you'll begin working with your mortgage lender to close the loan.
If you're already pre-approved, 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 mortgage lender will need to close the loan.
Step 8 – Close the deal
Your mortgage lender will provide you with a Loan Estimate (LE) of your closing costs within three days of taking your loan application. You'll get a Loan Estimate (LE) outlining your closing costs from your lender within three days of receiving your loan application.
This estimate is based 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 examine the estimate and let you know if everything looks all right.
Then we'll close on your house. This will most likely happen at a title company or escrow office and will most likely be a smooth and peaceful event.
Step 9 – Move in
Congratulations! It's time to move into your new home. Enjoy it. And if you have any questions, just contact me at 918-447-8000 or e-mail me at .