Are you purchasing a home in Tulsa? Dennis Hall Realty, LLC can help.
Purchasing a home is a stressful event for many people, but with a little up-front planning, it's not that difficult.
I like to furnish buyers with an overview of the whole deal so they know exactly what to expect.
Here are my nine steps to buying a home.
Should you have questions about this information or if you're ready to get started, simply contact me here or e-mail me at .
Step 1 – Get ready to purchase a home
There are several things you need to do prior to commencing your home search.
You'll want to make a list of items you want, get a plan of what neighborhoods and school districts you'd like to live in, and begin planning around your budget.
A good rule to adhere to is that your mortgage payment should be less than or close to 30 percent of your net monthly income.
Step 2 – Speak with a real estate agent in Tulsa
That's where I come in.
I'd be happy to schedule a time to get together with you and talk about why you want to buy a home and get an idea of your future plans.
We'll discuss everything from neighborhoods, schools in the Tulsa area, the mortgage industry, to any other economic factors that might affect your buying decision today or in the future.
In addition, I'll help you get started on your loan.
There are some very good mortgage professionals in Tulsa, and I partner with a lot of them, so you'll be in great hands.
They will help you figure out which type of loan is best for you, as well as help you get approved.
Step 3 – Begin house-hunting
After our first meeting, I'll begin finding houses on the market that are a great fit for you.
I'll research most of the homes and reject the duds, and then we'll book appointments to view the homes whenever it's most convenient for you.
As we tour the houses, I'll identify good features and negative ones. I'll also ask you to talk about things you like and dislike.
It's pretty common for buyers to change their must-have list as we view houses and some items become far more important than others.
If that's the situation, I'll go back through the listings once again and trim it down to the house of your dreams.
Step 4 – Understand the market
An agent's awareness of the Tulsa housing market is a leading aspect in your house search. And I can assure you I'm informed of all the school districts and neighborhoods, and I'll communicate certain neighborhoods are "hot" and require immediate action and the ones that are "cold" and allow for cautiousness.
As we tour houses, I'll be sure to tell you when the seller's asking price has room for bargaining and also when I believe the house is "priced to sell."
When working with an agent, be mindful and make sure you ask lots of questions, as every real estate agent in Tulsa will tell you they comprehend the market.
If things don't add up, just call me at 9184478000 or e-mail me at , and I'd be more than happy to answer your questions. My market expertise will help you stay a step ahead through the entire process.
Step 5 – Find the home of your dreams
We'll find the house of your dreams in the Tulsa area, and when that happens, I'll precisely create your real estate purchase offer. The offer will be made to fit your needs and the home. We'll include some contingencies, such as acquiring financing, completing the inspection, and a clean title.
When turning in your offer, you'll probably need to submit "earnest money." This is a cash deposit given to the seller to secure the offer to purchase the property and is usually put towards the closing costs. If your offer is accepted, we should close on the property about 30 to 60 days afterward. This allows plenty of time for your mortgage financing.
Step 6 – Negotiate the deal
A lot of contracts aren't closed on the initial 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, submit our own counter offer, or decline the seller's offer and go on.
How aggressively we negotiate the contract depends on market circumstances.
We'll also work within your budget. And at the end of the day, we'll create a contract that works well for you.
Step 7 – Obtain your loan
Upon signing the contract, you'll begin working with your mortgage lender to close the loan.
If you're pre-qualified, it shouldn't take long at all. However, you'll want to keep in close contact with your lender.
And I'll handle all the property information your lender will need 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 loan application.
This estimate is based on the loan amount. RESPA requirements order that it has to contain all closing costs and be within a close range of accuracy, and I'll review the estimate and let you know if it all looks adequate.
Then it's time to close on your home. This should occur at a title company or escrow office and will probably be a smooth and relaxing occurrence.
Step 9 – Move in
Congratulations! It's time to move into your new house. Enjoy it. And if you need anything or have any questions, simply call me at 9184478000 or e-mail me at .