Looking to buy a new home in Tulsa? Dennis Hall Realty, LLC can help.
Purchasing a home is stressful for most people, but it isn't that complex with a little planning ahead of time.
I like to provide buyers with an outline of the entire deal so they'll know exactly what to expect.
Below are my nine steps to purchasing a home.
If you have questions regarding any of this information or if you're ready to get started, simply contact me here or e-mail me at .
Step 1 – Prepare to buy
Prior to starting your home search, there are a lot of things you should contemplate.
When you start your search, you'll want to create an outline of features you need to have, get an idea of what neighborhoods you want to live in, and start planning around your budget.
Keeping your mortgage payment less than 1/3 of your net monthly income is a good rule of thumb to follow.
Step 2 – Get in touch with a real estate agent in Tulsa
This is where I can help.
We'll set up 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 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 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 can rest assured that you're in great hands.
They'll assist you in choosing which kind of loan is best for you and help you get qualified.
Step 3 – Begin house-hunting
After our initial meeting, I'll start searching for available homes on the market that suit your needs.
I'll get a sneak peek of many of the houses and eliminate the bad ones, and then we'll set up appointments to view the homes whenever it's most convenient for you.
As we view homes, I'll call attention to positive features, as well as bad ones. I'll even ask you to point out what things you like and don't like.
Generally, buyers revise their must-have list as we view homes and some things become far more substantial than others.
If that's the situation, I'll look through the listings another time and narrow it down to the home of your dreams.
Step 4 – Comprehend the market
My awareness of the Tulsa housing market is a fundamental agent in your house search. I'm familiar with all the schools and neighborhoods, and I will let you know which neighborhoods are "hot" and demand immediate action and the ones that are "cold" and allow for careful analysis.
When we tour houses, I'll be sure to tell you if the list price has room for bargaining or if I believe the house is "priced to sell."
Be careful and be sure to ask lots of questions, as any REALTOR will claim to truly know the market.
If things don't add up, contact me at 918-447-8000 or e-mail me at , and I'll be happy to answer any questions you have. My market knowledge will help you stay a step ahead through the entire deal.
Step 5 – Find the house you've been waiting for
We'll find the home of your dreams in the Tulsa area, and when we do, I'll thoroughly develop your real estate purchase offer. The offer will be tailored with your needs in mind and the home, including some contingencies. A few examples are acquiring financing, finishing the inspection, and a clean title.
When we send in your purchase offer, you'll want to submit "earnest money." This is a cash deposit made to a seller to secure the offer to buy the property. The amount is often put towards the cost of closing. If your offer is accepted, we should close within 30 to 60 days afterward. This allows enough time for your mortgage financing.
Step 6 – Negotiate
Unfortunately most contracts aren't closed on the beginning offer – it's extremely common to receive a counter offer. Don't let this discourage you. We'll talk over whether or not to take the counter offer, submit our own counter offer, or reject the seller's offer and move on.
Market conditions will play a large role in how aggressively we negotiate the contract.
We'll also work within your budget. And at the end of the day, we'll put together a deal that's best for you.
Step 7 – Secure a loan
Upon finalizing the deal, you'll begin working with your lender to close the loan.
If you're already pre-qualified, this shouldn't take very long at all. But you should to stay in close contact with your lender.
And I'll handle all the property information your lender needs to close the loan.
Step 8 – Close the deal
Your lender will give you a Loan Estimate (LE) outlining your closing costs within three days of getting your application. You'll get a Loan Estimate (LE) of your closing costs from your mortgage lender within three days of accepting your application.
The estimate rests on the loan amount. RESPA requirements mandate that it has to include all closing costs and fall within a tight range of accuracy, and I'll go over the estimate and let you know if everything looks permissible.
Then it's time to close on your house. This will most likely take place at a title company or escrow office and will likely be a smooth and pleasant event.
Step 9 – Move in
Congratulations! Now you can move into your new house. Enjoy it. And if you need anything or have any questions, be sure to contact me at 918-447-8000 or e-mail me at .