Buying or selling a home in Tulsa? Dennis Hall Realty, LLC can help.
With some planning ahead of time, purchasing a home isn't very complex, but the event intimidates many people.
So they know exactly what they can expect, I like to provide buyers with a road map of the entire deal.
Here are my nine steps to buying a home.
When you're ready to get started, simply contact me here or e-mail me at . I'm happy to answer questions you have regarding this information.
Step 1 – Get ready to purchase a home
There are a lot of things you should consider prior to beginning your home search.
You'll most likely want to put together a checklist of items you need, get a feel for what school districts and neighborhoods you want to live in, and begin working on your budget.
A good rule to follow is that your mortgage payment should be close to 1/3 of your net monthly income.
Step 2 – Contact a real estate agent in Tulsa
This is where Dennis Hall Realty, LLC can help.
We can plan a time to get together 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, school districts in the Tulsa area, the mortgage industry, to any other economic factors that might affect your purchase today or in the future.
I'll also assist you in getting started on your loan.
I partner with some of the finest mortgage professionals in Tulsa, so you can rest assured that you're in great hands.
They can help you decide which kind of loan is best for you, as well as help you get approved.
Step 3 – Start looking for a house
After we meet, I'll start searching for houses on the market that best suit you.
I'll preview most of the houses and eliminate the bad ones, and then we'll schedule appointments to tour the homes whenever it's convenient for you.
As we view homes, I'll point out positive features and negative ones. And I'll ask you to point out what things you like and don't like.
It's widely common for buyers to update their list of must-haves as we tour homes and some things become far more crucial than others.
If that's the case, I'll look through the listings again and trim it down to the house you've been dreaming about.
Step 4 – Understand the market
An agent's understanding of the Tulsa housing market is an essential aspect in your home search. And I can assure you I'm mindful of all the school districts and neighborhoods, and I will let you know which neighborhoods are "hot" and demand immediate action and others that are "cold" and allow for thoughtful consideration.
As we view homes, I'll be sure to tell you if the seller's asking price has room for negotiation or if I believe the house is "priced to sell."
Every REALTOR in Tulsa will claim to know the home market, but be careful, and make sure you ask plenty 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 your questions. My market knowledge will keep you a step above the rest throughout the entire deal.
Step 5 – Find the house you've been looking for
We'll find the home of your dreams in the Tulsa area, and when that happens, I'll thoroughly create your real estate purchase offer. The offer will be made to suit your needs and the home. We'll include many contingencies, such as getting financing, carrying out the inspection, and a clear title.
When we turn in your purchase offer, you'll want to submit "earnest money." This is a cash deposit submitted to the home seller to secure an offer to buy the property and is often put towards the closing costs. 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 contracts 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 consider whether or not to accept the counter offer, present our own counter offer, or decline the seller's offer and move on.
Market conditions will play a big part in how aggressively we negotiate the deal.
In addition, we'll work within your financing constraints. And when it's all said and done, we'll put together a deal that is best for you.
Step 7 – Secure financing
Once we sign the final sales contract, you'll begin working with your lender to close the loan.
This shouldn't be a long process at all if you're already pre-approved, but you'll want to keep in close contact with your lender.
And I'll manage 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 mortgage lender within three days of accepting your loan application.
The estimate is formed from the loan amount, and RESPA requirements require that it has to contain all closing costs and be within a strict range of accuracy. I'll review the estimate and let you know if it all looks good.
Then it's time to close on your house. This will likely occur at a title company or escrow office and should be a smooth and stress-free occurrence.
Step 9 – Move in
Congratulations! Now you can move into your new home. Enjoy it. And if you need anything or have any questions, simply call me at 918-447-8000 or e-mail me at .