Buying a new home in Tulsa

Purchasing a home is a stressful event for a lot of people, but it isn't too confusing with a little planning ahead of time. I like to provide buyers with a road map of the whole deal so they know exactly what to 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 happy to address questions you have regarding this information.

Step 1 – Get ready to buy
There are a lot of things you'll want to do prior to beginning your home search. You'll probably want to assemble a check list of items you want to have, plan for what neighborhoods you want to live in, and start working on your budget. A good guideline to adhere to is that your mortgage payment should be less than or around 30 percent of your net monthly income.

Step 2 – Communicate with a real estate agent
That's where I can help. We'll arrange a time to meet so we can talk about your real estate needs and get an idea of your plans for the future. We'll discuss neighborhoods, schools in the Tulsa area, the mortgage industry, and any additional economic factors that could potentially affect your buying decision today or in the future.

In addition, I'll assist you with getting started on your loan. Dennis Hall Realty, LLC partners with some of the best mortgage professionals in Tulsa, so you'll be in great hands. They will help you choose which type of loan is best for you, as well as help you get approved.

Step 3 – Begin house hunting
After we meet for the first time, I'll begin finding available homes on the market that meet your needs. I'll preview many of the homes and throw out the bad ones, and then we'll schedule appointments to tour the houses whenever it's convenient for you.

As we tour homes, I'll call attention to positive features and bad ones. I'll also ask you about things you like and dislike. Frequently, buyers amend their list of must-haves as we view houses and some features become far more important than others. If that's the situation, I'll search all the listings again and narrow it down to the house you've been dreaming about.

Step 4 – Get a grasp of the housing market
My knowledge of the Tulsa housing market is a leading factor in your house search. I am informed of all the school districts and neighborhoods, and I'll communicate what neighborhoods are "hot" and require immediate action and some that are "cold" and allow for more analysis.

When we view homes, I'll let you know if the seller's asking price has room for negotiation or if I believe the house is "priced to sell." When working with an agent, trust your instincts and make sure you ask plenty of questions, as every REALTOR will claim to understand the market. If things don't add up, just call me at 918-447-8000 or e-mail me at , and I'll be happy to answer your questions. My market expertise will keep you a step ahead throughout the entire deal.

Step 5 – Find the home of your dreams
I'm confident we'll find your dream house in the Tulsa area. When we do, I'll meticulously create your real estate purchase offer. The offer will be tailored with your needs in mind and the home, including many contingencies, such as getting financing, completing the home inspection, and a clear title.

When turning in your purchase offer, you'll need to present "earnest money." This is a cash deposit given to the home seller to secure the offer to purchase the property and is usually put towards the cost of closing. If your offer is accepted by the seller, we should close on the home within 30 to 60 days afterward. This allows plenty of time for your mortgage financing.

Step 6 – Negotiate
A lot of contracts don't close on the first offer – it's pretty common to receive a counter offer. But don't let this intimidate you. We'll discuss whether or not to take the counter offer, propose our own counter offer, or decline the seller's offer and go on.

Market circumstances determine how aggressively we negotiate the deal. We'll also work within your financing limits. And when it's all said and done, we'll put together a deal that works well for you.

Step 7 – Obtain your loan
Once the deal is finished, you'll begin working with your mortgage lender to close the loan. If you've been pre-qualified, this shouldn't be a long process at all. However, you should to keep in close contact with your mortgage lender. And I'll look after all the property information your mortgage lender will need to close the loan.

Step 8 – Close the deal
Your lender will provide you with a Loan Estimate (LE) outlining closing costs within three days of getting your application. You'll get a Loan Estimate (LE) outlining your closing costs from your mortgage lender within three days of accepting your application. This estimate rests on the loan amount. RESPA requirements order that it has to contain all closing costs and fall within a precise 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 home. This will most often occur at a title company or escrow office and will probably be a smooth and pleasant occasion.

Step 9 – Move in
Congratulations! It's time to move into your new house. Enjoy it. And if you need anything, make sure you contact me at 918-447-8000 or e-mail me at .

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