Are you looking to buy your home in Tulsa? Dennis Hall Realty, LLC can help.
With some planning ahead of time, buying a home isn't all that complicated, but the event is intimidating for a lot of people.
So they understand exactly what they can expect, I like to supply buyers with a road map of the entire deal.
These are my nine steps to buying a home.
If you have questions about any of this information or if you're ready to get started, just contact me here or e-mail me at .
Step 1 – Prepare to purchase
Prior to starting your home search, there are plenty of things you should do.
It's likely that you'll want to assemble a check list of items you need to have, get a feeling for what neighborhoods and school districts you'd like to live in, and start working on your budget.
Keeping your mortgage payment less than or close to 30 percent of your net monthly income is a good rule of thumb to follow.
Step 2 – Talk to a real estate agent in Tulsa
This is where I can help.
I'd be more than happy to plan a time to meet with you and communicate with you regarding your real estate needs and get an idea of your future plans.
We'll discuss neighborhoods, schools in the Tulsa area, the mortgage industry, and any other economic factors that could affect your purchase today or in the future.
I can also assist you in getting started on your loan.
Dennis Hall Realty, LLC works with some of Tulsa's finest mortgage professionals, so you're in great hands.
They will assist you in deciding which type of loan is best for you and help you get approved.
Step 3 – Start house-hunting
Following our first meeting, I'll start looking for available homes on the market that are a great fit for you.
I'll get a sneak peek of most of the houses and reject the bad ones, and then we'll set up appointments to tour the homes when it's convenient for you.
When we tour homes, I'll point out positive features and bad ones. And I'll ask you about things you like and dislike.
For the most part, buyers change their list of must-haves as we tour homes and some features become more necessary than others.
If that's the case, I'll search all the listings once more and narrow it down to the house you've been dreaming about.
Step 4 – Know the market
Your agent's understanding of the Tulsa housing market is a necessary element in your house search. And I assure you I'm familiar with all the neighborhoods and schools, and I'll alert you to what areas are "hot" and warrant prompt action and the ones that are "cold" and allow for careful examination.
As we view houses, I'll be sure to tell you if the seller's list price has room for negotiation or if I believe the home is "priced to sell."
When working with an agent, be on guard and make sure you ask a lot of questions. Any real estate agent will tell you they know the housing market.
If things don't add up, call me at 9184478000 or e-mail me at , and I'll be more than happy to answer any questions you have. My understanding of the market will keep you a step above the rest throughout the entire process.
Step 5 – Find the house you've been waiting for
I know we'll find the home of your dreams in the Tulsa area. When we do, I'll carefully develop your real estate purchase offer. The offer will be made to suit your needs and the home. We'll include several contingencies, such as getting financing, finishing the inspection, and a clean title.
When we turn in your offer, you'll want to present "earnest money." This is a cash deposit submitted to the home seller to secure an offer to buy the property, and it's typically applied to the cost of closing. If your offer is accepted, we should close on the home about 30 to 60 days after. This allows necessary time for your mortgage financing.
Step 6 – Negotiate
A lot of deals aren't closed on the beginning offer – it's very common to receive a counter offer. Don't let this intimidate you. We'll figure out whether or not to agree to the counter offer, propose our own counter offer, or refuse the seller's offer and move on.
Market circumstances determine how aggressively we negotiate the deal.
We'll also work within your financing limits. And at the end of the day, we'll compose a contract that's best for you.
Step 7 – Secure financing
Upon completing the deal, you'll begin working with your mortgage lender to close the loan.
If you're already pre-qualified, this won't take much time at all. However, you'll want to stay in close contact with your mortgage lender.
And I'll handle all the property information your lender will need to close the loan.
Step 8 – Close the deal
Your lender will provide you with a Loan Estimate (LE) outlining your closing costs within three days of receiving your loan application. You'll get a Loan Estimate (LE) detailing closing costs from your mortgage lender within three days of getting your loan application.
This estimate is based on the loan amount. RESPA requirements order that it has to involve all closing costs and be within a tight range of accuracy, and I'll go over the estimate and let you know if it all looks adequate.
Then it's time to close on your house. This will likely occur at a title company or escrow office and is often 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 9184478000 or e-mail me at .