Buying or selling a home in Port Clinton?
Purchasing a home is a stressful event for most people, but it's not all that complicated with a bit of up-front planning.
We like to give buyers an outline of the entire deal so they'll know exactly what to expect.
Below are our nine steps to buying a home.
When you're ready to get started, just contact us here or send us e-mail
. We're happy to answer any questions you have about this information.
Step 1 – Get ready to buy a home
Before you start your home search, there are several things you need to take into account.
When you start your search, you'll want to put together an outline of features you need, get a feeling for what school districts you want to live in, and begin planning around your budget.
A good principle to go by is that your mortgage payment should be no more than 30 percent of your net monthly income.
Step 2 – Talk to a real estate agent
That's where we come in.
We can plan a time to get together so we can talk about why you want to buy a home and get an idea of your plans for the future.
We'll talk about the mortgage industry, other economic factors that could potentially affect your buying decision today or in the future, as well as neighborhoods and schools in the Port Clinton area.
We'll also help you facilitate the loan process.
We partner with some of Port Clinton's finest mortgage professionals, so you can rest assured that you're in great hands.
They can help you choose which kind of loan is best for you, as well as help you get qualified.
Step 3 – Start looking for a home
Following our initial meeting, we'll begin finding houses on the market that are a good fit for you.
We'll preview most of the homes and remove the duds, and then we'll schedule appointments to tour the houses when it's convenient for you.
As we tour homes, we'll point out positive features and bad ones. we'll also ask you what things you like and don't like.
For the most part, buyers update their wish list as we view homes and some features become more crucial than others.
If such is the case, we'll look through all the listings once more and trim it down to the house you've been waiting for.
Step 4 – Know the housing market
An agent's awareness of the Port Clinton home market is an imperative factor in your home search. And we assure you we're very familiar with all the school districts and neighborhoods, and we'll communicate certain districts are "hot" and warrant immediate action and the ones that are "cold" and allow for thoughtful consideration.
When we view houses, we'll make sure to communicate if the list price has room for negotiation or if I believe the home is "priced to sell."
Any REALTOR® will tell you they understand the housing market, but be on guard, and make sure you ask plenty of questions.
If it doesn't seem like they know everything, contact us at (419) 270-3800 or e-mail us at firstname.lastname@example.org, and we'd be happy to answer any questions you may have. Our market expertise will keep you a step ahead through the entire deal.
Step 5 – Find the house you've been waiting for
We're positive we'll find the house of your dreams in Port Clinton. When that happens, we'll thoroughly develop your real estate purchase offer. The offer will be tailored exactly to your needs, including several contingencies, such as acquiring financing, finishing the inspection, and a clean title.
Upon submitting your purchase offer, you'll need to submit "earnest money." This is a cash deposit submitted to a seller to secure the offer to purchase the property, and it's most often applied to the cost of closing. If the 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 the deal
A lot of deals don't close on the initial offer – it's pretty common to receive a counter offer. Don't let this intimidate you. We'll consider whether or not to agree to the counter offer, present our own counter offer, or refuse the seller's offer and go on.
Market circumstances will play a vital role in how aggressively we negotiate the deal.
In addition, we'll work within your financing budget. And at the end of the day, we'll put together a deal that works well for you.
Step 7 – Get a loan
Once we sign the final deal, you'll start working with your mortgage lender to close the loan.
If you're already pre-approved, it shouldn't take much time at all. But you'll need to keep in close contact with your mortgage lender.
And we'll take care of all the property information your lender needs to close the loan.>
Step 8 – Close the deal
Your mortgage lender will give you a Good Faith Estimate (GFE) detailing your closing costs within three days of receiving your application.
The estimate depends on the loan amount. RESPA requirements require that it has to include all closing costs and be within a precise range of accuracy, and we'll go over the estimate and let you know if everything looks okay.
Then we'll close on your home. This will most likely take place at a title company or escrow office and is often a smooth and stress-free occasion.
Step 9 – Move in
You made it! Now you can move into your new house. Enjoy it. And if you need anything, be sure to contact us at (419) 270-3800 or send us an e-mail.