Are you contemplating buying a new home in Tulsa? Dennis Hall Realty, LLC can help.
Purchasing a home is intimidating for a lot of people, but with some up-front planning, it isn't very difficult.
So they'll know exactly what they can expect, I'll furnish buyers with an overview of the whole deal.
These are my nine steps to purchasing a home.
Should you have any questions regarding any of this information or if you're prepared to get started, simply contact me here or e-mail me at .
Step 1 – Prepare to buy
Before you start your home search, there are several things you need to take into account.
When you begin your search, you'll probably want to form a checklist of must-have features, get a plan of what neighborhoods and school districts you want to live in, and start working on your budget.
Keeping your mortgage payment around 1/3 of your monthly income is a good guideline to adhere to.
Step 2 – Get in touch with a real estate agent in Tulsa
That's where I can help.
We can schedule a time to meet so we can talk about why you want to buy a home and get an idea of your upcoming plans.
We'll talk about the mortgage industry, other economic factors that might affect your purchase today or in the future, as well as neighborhoods and schools in the Tulsa area.
In addition, I'll help you start the loan process.
Dennis Hall Realty, LLC partners with some of Tulsa's finest mortgage professionals, so you're in great hands.
They can assist you with figuring out which type of loan is best for you and help you get approved.
Step 3 – Start your search
After our initial meeting, I'll start searching for houses on the market that best suit you.
I'll preview many of the houses and exclude the duds, and then we'll schedule appointments to view the homes when it's most convenient for you.
As we tour the houses, I'll show you the positive features, as well as negative ones. I'll even ask you to tell us about things you like and don't like.
It's common for buyers to amend their wish list as we view homes and some items become more crucial than others.
If that happens, I'll go back through all the listings once again and trim it down to the home of your dreams.
Step 4 – Comprehend the market
My understanding of the Tulsa home market is an essential component in your home search. I'm informed of all the schools and neighborhoods, and I'll alert you to some districts are "hot" and require immediate action and the ones that are "cool" and allow for thoughtful analysis.
As we tour homes, I'll be sure to tell you if the list price has room for negotiation or if I believe the home is "priced to sell."
Be careful and make sure you ask a lot of questions, as any real estate agent will tell you they understand the market.
If it doesn't seem like they know everything, call me at 918-447-8000 or e-mail me at , and I'd be glad to answer your questions. My market expertise will help you stay a step ahead throughout the entire deal.
Step 5 – Find the house you've been looking for
I'm confident we'll find your dream house in Tulsa. When we do, I'll carefully create your real estate purchase offer. The offer will be tailored with your needs in mind and the home, including a lot of contingencies, such as acquiring financing, completing the home inspection, and a clear title.
When we present your offer, you'll need to submit "earnest money." This is a cash deposit made to the seller to secure an offer to buy the property, and it's typically applied to the closing costs. If the offer is accepted by the seller, we should close on the home within 30 to 60 days after. This allows enough time for your mortgage financing.
Step 6 – Negotiate the deal
Most deals don't close on the first offer. It's widely common to receive a counter offer. Don't let this intimidate you. We'll discuss whether or not to consent to the counter offer, present our own counter offer, or refuse the seller's offer and move on.
Market circumstances determine how aggressively we negotiate the deal.
We'll also work within your financing limits. And at the end of the day, we'll compose a contract that's best for you.
Step 7 – Get a loan
After we sign the final sales contract, you'll start working with your lender to close the loan.
This shouldn't be a long process at all if you're pre-approved, but you should to stay in close contact with your lender.
And I'll take care of all the property information your lender needs to close the loan.
Step 8 – Close the deal
You'll get a Loan Estimate (LE) detailing your closing costs from your lender within three days of taking your application.
This estimate depends on the loan amount. RESPA requirements order that it has to contain all closing costs and fall within a close range of accuracy, and I'll review the estimate and let you know if everything looks adequate.
Then it's time to close on your home. This should take place at a title company or escrow office and will probably be a smooth and relaxed affair.
Step 9 – Move in
Congratulations! It's time to move into your new home. Enjoy it. And if you need anything, just contact me at 918-447-8000 or e-mail me at .