Buying or selling a home in Tulsa? Dennis Hall Realty, LLC can help.
Buying a home can be stressful for many people, but it's not all that hard with a bit of up-front planning.
I like to provide buyers with a road map of the whole deal so they'll know exactly what to expect.
These 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 about this information.
Step 1 – Get ready to buy a home
There are several things you should contemplate before beginning your home search.
You'll want to assemble an index of must-haves, get a feel for what neighborhoods you want to live in, and begin planning around your budget.
A good guideline to go by is that your mortgage payment should be around a third of your monthly income.
Step 2 – Connect with a real estate agent
That's where I can help.
I'd be more than happy to set up a time to meet with you and speak with you regarding your real estate needs and get an idea of your plans for the future.
We'll talk about the mortgage industry, other economic factors that could potentially affect your purchase today or in the future, as well as neighborhoods and school districts in the Tulsa area.
I'll also assist you with getting started on your loan.
There are some very good mortgage professionals in Tulsa, and I partner with a lot of them, so you can rest assured that you're in great hands.
They can help you determine 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 begin finding houses on the market that best suit you.
I'll preview most of the homes and eliminate the bad ones, and then we'll schedule appointments to tour the houses when it's convenient for you.
As we tour the houses, I'll point out positive features, as well as negative ones. I'll even ask you to tell us about things you like and dislike.
It's common for buyers to update their must-have list as we view houses and some items become far more important than others.
If that happens, I'll look through the listings another time and narrow it down to the home you've been wishing for.
Step 4 – Comprehend the market
My awareness of the Tulsa home market is a crucial agent in your house search. I'm informed of all the neighborhoods and schools, and I can alert you to certain neighborhoods are "hot" and call for immediate action and some that are "cool" and allow for careful examination.
As we tour homes, I'll be sure to tell you if the seller's list price has room for bargaining or if I believe the house is "priced to sell."
When working with an agent, be on guard and be sure to ask a lot of questions. Every REALTOR in Tulsa will claim to truly 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 happy to answer any questions you may have. My knowledge of the market will keep you a step above the rest through the entire deal.
Step 5 – Find the home of your dreams
We'll find the home of your dreams in the Tulsa area, and when we do, I'll thoroughly create your purchase offer. The offer will be tailored keeping your needs in mind and the home, including several contingencies. A few examples are acquiring financing, completing the home inspection, and a clear title.
When submitting your offer, you'll need to submit "earnest money." This is a cash deposit made to a home seller to secure an offer to buy the property, and it's often put towards the cost of closing. If your offer is accepted by the seller, we should close on the home about 30 to 60 days afterward. This allows enough time for your mortgage financing.
Step 6 – Negotiate
A lot of contracts aren't closed on the initial offer. It's widely common to receive a counter offer. But don't let this discourage you. We'll consider whether or not to accept the counter offer, present our own counter offer, or refuse the seller's offer and go on.
Market conditions will play a vital role in how aggressively we negotiate the contract.
We'll also work within your financing budget. And at the end of the day, we'll compose a contract that works well for you.
Step 7 – Secure your loan
Once the deal is finalized, you'll start working with your lender to close the loan.
If you're pre-qualified, it won't take much time at all. However, you'll need to stay in close contact with your lender.
And I'll look after all the property information your lender needs to close the loan.
Step 8 – Close the deal
Your lender will furnish you with a Loan Estimate (LE) outlining your closing costs within three days of accepting your application. You'll get a Loan Estimate (LE) detailing your closing costs from your mortgage lender within three days of taking your loan application.
The estimate rests on the loan amount. RESPA requirements order that it has to contain all closing costs and be within a strict range of accuracy, and I'll go over the estimate and let you know if everything looks adequate.
Then we'll close on your home. This should happen at a title company or escrow office and will most often be a smooth and hassle-free event.
Step 9 – Move in
Congratulations! It's time to move into your new home. Enjoy it. And if you need anything or have any questions, just contact me at 918-447-8000 or e-mail me at .