Are you contemplating purchasing your home in Tulsa? Dennis Hall Realty, LLC can help.
With a little planning ahead of time, buying a home isn't very hard, but the event is intimidating for a lot of people.
I like to supply buyers with an outline of the entire deal so they'll understand exactly what they can expect.
Below are my nine steps to purchasing a home.
When you're ready to get started, simply contact me here or e-mail me at . I'm glad to address questions you have regarding this information.
Step 1 – Prepare to buy
There are plenty of things you'll want to do before you start searching for a home.
You'll probably want to form a checklist of features you need to have, get a feeling for what school districts you'd like to live in, and begin planning your budget.
A good rule to go by is that your mortgage payment should be less than or around 30 percent of your monthly income.
Step 2 – Get in touch with a real estate agent
This is where I come in.
I'd love to schedule a time to meet with you and communicate with you about your real estate needs and get an idea of your plans for the future.
We'll talk about everything from neighborhoods, schools in the Tulsa area, the mortgage and housing industries, to any other economic factors that could potentially affect your purchase today or in the future.
I'll also assist you with getting started on your loan.
There are some very good mortgage professionals in Tulsa, and I work with a lot of them, so you're in great hands.
They can help you figure out which type of loan is best for you, as well as help you get qualified.
Step 3 – Begin looking for a home
After we meet for the first time, I'll start searching for houses on the market that are a great fit for you.
I'll preview most of the houses and reject the duds, and then we'll set up appointments to view the houses when it's convenient for you.
When we view homes, I'll identify positive features and negative ones. And I'll ask you to point out what things you like and dislike.
Most often, buyers change their wish list as we view homes and some items become more necessary than others.
If that's the situation, I'll look through all the listings once again and trim it down to the house you've been waiting for.
Step 4 – Comprehend the housing market
Your agent's knowledge of the Tulsa housing market is an essential component in your house search. And I can assure you I'm familiar with all the schools and neighborhoods, and I will alert you to certain areas are "hot" and demand immediate action and the ones that are "cold" and allow for more analysis.
When we tour houses, I'll let you know when the list price has room for negotiation and also when I know the home is "priced to sell."
When working with an agent, be mindful and make sure you ask a lot of questions. Every REALTOR will claim to understand the housing market.
If it doesn't seem like they know everything, call me at 918-447-8000 or e-mail me at , and I'll be glad to answer any questions you may have. My market expertise will keep you a step ahead through the entire deal.
Step 5 – Find your dream house
We'll find the house of your dreams in Tulsa, and when we do, I'll thoroughly develop your home purchase offer. The offer will be made to suit your needs and the home. We'll include many contingencies, such as acquiring financing, carrying out the inspection, and a clean title.
When turning in your offer, you'll want to present "earnest money." This is a cash deposit made to the home seller to secure the offer to purchase the property, and it's often put towards the closing costs. If the seller accepts your offer, we should close on the property within 30 to 60 days afterward. This allows ample time for your mortgage financing.
Step 6 – Negotiate the deal
Unfortunately most deals don't close on the first offer. It's pretty common to receive a counter offer. But don't let this alarm you. We'll discuss whether or not to agree to the counter offer, submit our own counter offer, or decline the seller's offer and move on.
How aggressively we negotiate the deal depends on market conditions.
We'll also work within your financing constraints. And at the end of the day, we'll formulate a contract that's best for you.
Step 7 – Obtain your loan
Upon completion of the contract, you'll begin working with your lender to close the loan.
It won't take much time at all if you've been pre-approved, but you should to keep in close contact with your mortgage lender.
And I'll handle all the property information your lender will need to close the loan.
Step 8 – Close the deal
Your mortgage lender will furnish you with a Loan Estimate (LE) detailing closing costs within three days of taking your loan application. You'll get a Loan Estimate (LE) outlining closing costs from your mortgage lender within three days of receiving your loan application.
The estimate is formed from the loan amount, and RESPA requirements require that it has to contain all closing costs and fall within a precise range of accuracy. I'll study the estimate and let you know if everything looks permissible.
Then it's time to close on your home. This will most often take place at a title company or escrow office and is often a smooth and peaceful occurrence.
Step 9 – Move in
Congratulations! Now you can move into your new home. Enjoy it. And if you need anything, just contact me at 918-447-8000 or e-mail me at .