Are you contemplating buying a home in Tulsa? Dennis Hall Realty, LLC can help.
Purchasing a home can be stressful for most people, but it's not that complex with a little planning ahead of time.
I like to give buyers an overview of the entire deal so they'll know exactly what they can expect.
Below are my nine steps to buying a home.
Should you have questions about any of this information or if you're ready to get started, simply contact me here or e-mail me at .
Step 1 – Get ready to buy a home
There are many things you need to consider before starting your home search.
You'll want to create a list of features you want, get an idea of what school districts and neighborhoods you'd like to live in, and start working on your budget.
Keeping your mortgage payment around 30 percent of your monthly income is a good rule to go by.
Step 2 – Communicate with a real estate agent in Tulsa
This is where Dennis Hall Realty, LLC comes in.
We'll plan a time to meet so we can talk about your real estate needs and get an idea of your upcoming plans.
We'll talk about everything from neighborhoods, school districts in the Tulsa area, the mortgage industry, to any other economic factors that may affect your buying decision today or in the future.
I can also assist you with getting started on your loan.
There are some excellent 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 approved.
Step 3 – Begin house hunting
After we meet, I'll begin looking for available homes on the market that meet your needs.
I'll preview many of the houses and ignore the bad ones, and then we'll book appointments to tour the houses whenever it's convenient for you.
When we tour houses, I'll point out good features and negative ones. And I'll ask you about things you like and don't like.
It's common for buyers to update their list of must-haves as we tour houses and some features become more essential than others.
If that's the case, I'll look through the listings once more and trim it down to the house you've been wishing for.
Step 4 – Get a grasp of the market
My understanding of the Tulsa market is a leading component in your house search. I am acquainted with all the neighborhoods and school districts, and I can alert you to some districts are "hot" and demand immediate action and some that are "cool" and allow for thoughtful examination.
As we view homes, I'll be sure to tell you if the seller's asking price has room for bargaining or if I believe the home is "priced to sell."
Every REALTOR will claim to truly know the housing market, but be on guard, and be sure to ask lots of questions.
If it appears they don't know everything, just call me at 918-447-8000 or e-mail me at , and I'll be more than happy to answer any questions you may have. My knowledge of the market will help you stay a step above the rest throughout the entire deal.
Step 5 – Find the house of your dreams
I'm sure we'll find the home of your dreams in Tulsa. When we do, I'll meticulously create your purchase offer. The offer will be tailored exactly to your needs and the home, including some contingencies. A few examples are obtaining financing, carrying out the home inspection, and a clean title.
Upon presenting your offer, you'll probably need to present "earnest money." This is a cash deposit made to the home seller to secure an offer to purchase the property, and it's typically applied to the cost of closing. If your offer is accepted by the seller, we should close on the home within 30 to 60 days afterward. This allows enough time for your mortgage financing.
Step 6 – Negotiate the deal
Unfortunately most deals aren't closed on the beginning offer. It's pretty common to receive a counter offer. Don't let it discourage you. We'll figure out whether or not to agree to the counter offer, present our own counter offer, or refuse the seller's offer and move on.
The state of the market determines how aggressively we negotiate the deal.
In addition, we'll work within your financing constraints. And at the end of the day, we'll formulate a contract that works well for you.
Step 7 – Obtain financing
Once we sign the final deal, you'll start working with your mortgage lender to close the loan.
This won't take very long at all if you've been pre-qualified, but you'll want to stay in close contact with your mortgage lender.
And I'll look after all the property information your lender needs to close the loan.
Step 8 – Close the deal
You'll get a Loan Estimate (LE) detailing closing costs from your lender within three days of accepting your application.
The estimate is based on the loan amount. RESPA requirements mandate that it has to contain all closing costs and fall within a precise range of accuracy, and I'll examine the estimate and let you know if it all looks okay.
Then it's time to close on your home. This will probably occur at a title company or escrow office and will probably be a smooth and relaxing occurrence.
Step 9 – Move in
Congratulations! It's time to move into your new house. Enjoy it. And if you need anything or have any questions, simply contact me at 918-447-8000 or e-mail me at .