Let Dennis Hall Realty, LLC help you with purchasing your new home in Tulsa
Buying a home is stressful for most people. However, with a little up-front planning, it isn't very difficult.
So they know exactly what they can expect, I like to provide buyers with a road map of the entire deal.
These are my nine steps to purchasing a home.
Should you have questions regarding this information or if you're ready to get started, just contact me here or e-mail me at .
Step 1 – Get ready to purchase
Before you start your home search, there are several things you should consider.
You'll probably want to put together a check list of items you want to have, get a plan of what school districts you want to live in, and start planning your budget.
A good guideline to follow is that your mortgage payment should be less than or around 1/3 of your net monthly income.
Step 2 – Communicate with a real estate agent in Tulsa
This is where Dennis Hall Realty, LLC can help.
We can schedule a time to get together so we can talk 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 may potentially affect your purchase today or in the future, as well as neighborhoods and school districts in the Tulsa area.
In addition, I'll assist you with getting started on your loan.
There are some great mortgage professionals in Tulsa, and I partner with a lot of them, so you're in great hands.
They'll assist you in figuring out which type of loan is best for you and help you get qualified.
Step 3 – Start looking
After we meet for the first time, I'll begin searching for available houses on the market that are good for you.
I'll preview most of the houses and reject the bad ones, and then we'll schedule appointments to tour the homes whenever it's convenient for you.
As we tour the houses, I'll point out good features, as well as negative ones. And I'll ask you to point out what things you like and dislike.
As a rule, buyers revise their wish list as we tour homes and some features become more essential than others.
If that's the situation, I'll go back through all the listings another time and trim it down to the house you've been waiting for.
Step 4 – Get a grasp of the housing market
My knowledge of the Tulsa home market is a leading component in your home search. I'm mindful of all the school districts and neighborhoods, and I will let you know certain districts are "hot" and require prompt action and others that are "cold" and allow for thoughtful examination.
When we view homes, I'll be sure to tell you when the asking price has room for negotiation and when I believe the house is "priced to sell."
Be mindful and be sure to ask plenty of questions, as every real estate agent in Tulsa will tell you they comprehend the home market.
If things don't add up, just call me at 918-447-8000 or e-mail me at , and I'd be happy to answer any questions you might have. My knowledge of the market will keep you a step ahead through the entire process.
Step 5 – Find the home you've been looking for
We'll find your dream house in Tulsa, and when that happens, I'll precisely develop your purchase offer. The offer will be tailored keeping your needs in mind and the home, including some contingencies. A few examples are getting financing, finishing the inspection, and a clean title.
When we submit your offer, you'll probably need to submit "earnest money." This is a cash deposit made to a seller to secure the offer to purchase the property, and it's typically put towards the cost of closing. If your offer is accepted, we should close on the property within 30 to 60 days afterward. This allows plenty of time for your mortgage financing.
Step 6 – Negotiate
A lot of deals don't close on the initial offer – it's extremely common to receive a counter offer. Don't let this discourage you. We'll figure out whether or not to agree to the counter offer, present 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 budget. And when it's all said and done, we'll assemble a deal that works well for you.
Step 7 – Secure your loan
Once the deal is signed, you'll start working with your mortgage lender to close the loan.
If you're pre-approved, it shouldn't take long at all, but you should to keep in close contact with your mortgage lender.
And I'll handle all the property information your mortgage lender needs to close the loan.
Step 8 – Close the deal
Your mortgage lender will give you a Loan Estimate (LE) of closing costs within three days of accepting your loan application. You'll get a Loan Estimate (LE) of closing costs from your lender within three days of receiving your loan application.
The estimate is formed from the loan amount, and RESPA requirements mandate that it has to involve all closing costs and fall within a precise range of accuracy. I'll examine the estimate and let you know if it all looks all right.
Then it's time to close on your home. This will most likely happen at a title company or escrow office and will most likely be a smooth and calm affair.
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 call me at 918-447-8000 or e-mail me at .