Purchasing a home in Plantation

Purchasing a home is stressful for many people, but it's not all that confusing with a bit of up-front planning. So you'll know exactly what to expect, I like to furnish my buyers with a road map of the entire deal. Here are my nine steps to buying a home.

Step 1 – Prepare to buy a home
There are several things you'll want to do prior to starting your home search. You'll most likely want to assemble an index of items you want, get a plan of what neighborhoods you'd like to live in, and begin working on your budget. Keeping your mortgage payment less than a third of your monthly income is a good guideline to adhere to.

Step 2 – Get with a real estate agent
That's where I come in. I'll plan a time to get together so we can 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 Plantation area, the mortgage and housing industries, to any other economic factors that may affect your purchase today or in the future.

I'll also assist you in getting started on your loan. I work with some of the best mortgage professionals in Plantation, so you'll be in great hands. They will help you choose which kind of loan is best for you, as well as help you get qualified.

Step 3 – Start house-hunting
After our initial meeting, I'll begin looking for available houses on the market that are a great fit for you. I'll preview many of the homes and remove the bad ones, and then we'll set up appointments to view the homes whenever it's most convenient for you.

As we tour houses, I'll call attention to good features and bad ones. I'll also ask you to talk about things you like and dislike. Usually, buyers amend their must-have list as we tour houses and some features become far more necessary than others. If that's the situation, I'll go back through the listings again and trim it down to the home you've been dreaming about.

Step 4 – Get a grasp of the market
Your agent's awareness of the Plantation housing market is a leading element in your house search. And I assure you I'm familiar with all the neighborhoods and schools, and I will communicate certain areas are "hot" and demand immediate action and the rest that are "cool" and allow for thoughtful analysis.

As we tour homes, I'll let you know if the asking price has room for bargaining or if I believe the home is "priced to sell." Be mindful and be sure to ask a lot of questions, as every real estate agent in Plantation will tell you they truly know the home market. If things don't add up, call me at 954-806-3677 or e-mail me at mjnewman@americanheromortgage.com, 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 ahead throughout the entire deal.

Step 5 – Find the home you've been waiting for
I'm confident we'll find the house of your dreams in the Plantation area, and when that happens, I'll carefully develop your home purchase offer. The offer will be written to suit your needs. Whenever necessary, I never forget to make contracts contingent upon items like your ability to secure financing and the results of the home inspection.

When we turn in your purchase offer, most likely you'll want to present "earnest money." This is a cash deposit made to the seller to secure the offer to purchase the property and is most often applied to the cost of closing. If your offer is accepted by the seller, we should close about 30 to 60 days after. This allows enough time for your mortgage financing.

Step 6 – Negotiate
A lot of deals don't close on the first offer, and it's widely common to receive a counter offer. Don't let this discourage you. We'll talk about whether or not to consent to the counter offer, submit our own counter offer, or reject the seller's offer and move on.

Market circumstances will play a big part in how aggressively we negotiate the contract. We'll also work within your financing limits. And at the end of the day, we'll formulate a deal that works well for you.

Step 7 – Secure a loan
Once the contract is finished, you'll start working with your lender to close the loan. It won't take much time at all if you've been pre-qualified, but you'll want to keep in close contact with your mortgage lender. And I'll care for all the property information your mortgage 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 receiving your loan application. The estimate is formed from the loan amount. RESPA requirements mandate that it has to include all closing costs and fall within a precise range of accuracy, and I'll examine the estimate and let you know if everything looks all right.

Then we'll close on your home. This will likely happen at a title company or escrow office and will likely be a smooth and hassle-free occurrence.

Step 9 – Move in
Success! It's time to move into your new house. Enjoy it. And if you need anything or have any questions, make sure you contact me at 954-806-3677 or send me an e-mail.