Buying or selling a home?

Buying a home is stressful for many people, but with some planning ahead of time, it's not that complicated. I like to give buyers an overview of the whole deal so they know exactly what to expect. Below are my nine steps to purchasing a home. Should you have any questions regarding this information or if you're prepared to get started, just contact me here or e-mail me at .

Step 1 – Prepare to buy a home
There are a lot of things you should consider before beginning your home search. You'll probably want to create a list of features you want to have, plan for what neighborhoods and school districts you want to live in, and begin working on your budget. A good principle to adhere to is that your mortgage payment should be 1/3 of your net monthly income.

Step 2 – Get in touch with a real estate agent
This is where Dennis Hall Realty, LLC can help. I'd love to set up a time to get together with you and 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 might affect your buying decision today or in the future.

I'll also help you facilitate the loan process. There are some great mortgage professionals in Tulsa, and I partner with a lot of them, so you can rest assured that you're in great hands. They will help you determine which type of loan is best for you, as well as help you get approved.

Step 3 – Start house-hunting
After our first meeting, I'll begin finding available homes on the market that are a great fit for you. I'll preview many of the homes and remove the duds, and then we'll schedule appointments to tour the homes when it's convenient for you.

When we tour houses, I'll identify good features, as well as negative ones. I'll even ask you to talk about things you like and don't like. As a rule, buyers amend their wish list as we tour houses and some items become far more crucial than others. If that's the case, I'll go back through all the listings another time and trim it down to the home you've been dreaming about.

Step 4 – Know the market
My understanding of the Tulsa housing market is a leading element in your house search. I'm conscious of all the school districts and neighborhoods, and I can let you know which areas are "hot" and warrant prompt action and others that are "cool" and allow for careful consideration.

When we tour homes, I'll be sure to tell you if the seller's list price has room for negotiation 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. Any real estate agent will tell you they understand the housing market. If things don't add up, just call me at 918-447-8000 or e-mail me at , and I'd be more than happy to answer any questions you might have. My knowledge of the market will help you stay a step above the rest throughout the entire process.

Step 5 – Find your dream house
We'll find your dream home in Tulsa, and when we do, I'll precisely develop your purchase offer. The offer will be tailored with your needs in mind and the home, including many contingencies. A few examples are obtaining financing, carrying out the home inspection, and a clear title.

When we present your purchase offer, you'll probably need to submit "earnest money." This is a cash deposit made to a home seller to secure the offer to purchase the property and is most often applied to the closing costs. 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 the deal
Unfortunately most contracts don't close on the beginning offer, and it's really common to receive a counter offer. But don't let this intimidate you. We'll talk over whether or not to agree to the counter offer, submit our own counter offer, or refuse the seller's offer and move on.

The state of the market will play a large role in how aggressively we negotiate the deal. In addition, we'll work within your budget. And when it's all said and done, we'll create a contract that's best for you.

Step 7 – Get financing
Upon signing the contract, you'll start working with your lender to close the loan. If you've been pre-qualified, this won't take much time at all, but you should to stay in close contact with your lender. And I'll deal with all the property information your mortgage lender needs to close the loan.

Step 8 – Close the deal
You'll get a Loan Estimate (LE) detailing closing costs from your lender within three days of getting your loan application. This estimate is formed from the loan amount. RESPA requirements order that it has to include all closing costs and be within a narrow range of accuracy, and I'll review the estimate and let you know if everything looks good.

Then we'll close on your house. This will probably occur at a title company or escrow office and is often a smooth and pleasant occurrence.

Step 9 – Move in
Congratulations! Now you can move into your new home. Enjoy it. And if you have any questions, just contact me at 918-447-8000 or e-mail me at .

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