Are you purchasing a new home in Orlando? Royalty Real Estate Boutique, Inc. can help.
Purchasing a home is intimidating for most people, but it's not all that difficult with a bit of up-front planning.
So they'll know exactly what they can expect, I'll give buyers an outline of the entire deal.
These are my nine steps to purchasing a home.
If you have questions regarding any of this information or if you're ready to get started, simply contact me here or e-mail me at .
Step 1 – Prepare to buy
Before you begin looking for a home, there are several things you'll want to consider.
When you begin your search, you'll probably want to assemble an index of items you need, get a feel for what neighborhoods and school districts you want to live in, and begin working on your budget.
Keeping your mortgage payment less than or around a third of your net monthly income is a good rule of thumb to go by.
Step 2 – Speak with a real estate agent in Orlando
That's where I come in.
I'd be happy to arrange a time to get together with you and speak with you regarding why you want to buy a home and get an idea of your future plans.
We'll discuss the mortgage and housing industries, other economic factors that may potentially affect your purchase today or in the future, as well as neighborhoods and school districts in the Orlando area.
In addition, I'll help you get started on your loan.
I partner with some of Orlando's finest mortgage professionals, so you can rest assured that you're in great hands.
They'll help you determine which type of loan is best for you, as well as help you get qualified.
Step 3 – Begin looking for a house
After our first meeting, I'll begin finding available houses on the market that are good for you.
I'll research many of the homes and ignore the duds, and then we'll book appointments to tour the homes whenever it's convenient for you.
As we tour the homes, I'll point out positive features and negative ones. And I'll ask you to point out what things you like and don't like.
It's common for buyers to change their wish list as we view homes and some items become far more crucial than others.
If such is the case, 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 housing market
My awareness of the Orlando home market is a necessary element in your house search. I'm mindful of all the neighborhoods and school districts, and I can communicate what districts are "hot" and demand prompt action and the ones that are "cool" and allow for cautiousness.
When we view houses, I'll let you know when the asking price has room for negotiation and when I believe the house is "priced to sell."
Every REALTOR will tell you they comprehend the market, but be careful, and make sure you ask your agent a lot of questions.
If it doesn't seem like they know everything, contact me at 407-380-6363 or e-mail me at , and I'd be glad to answer any questions you may have. My market knowledge will keep you a step above the rest through the entire process.
Step 5 – Find the home you've been waiting for
I'm sure we'll find the house of your dreams in Orlando. When we do, I'll meticulously create your home 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 purchase offer, you'll probably need to present "earnest money." This is a cash deposit given to a home seller to secure the offer to buy the property and is typically put towards the cost of closing. If your offer is accepted by the seller, we should close on the property about 30 to 60 days afterward. This allows ample time for your mortgage financing.
Step 6 – Negotiate
A lot of deals don't close on the initial offer. It's very common to receive a counter offer. But don't let this alarm you. We'll talk over 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 conditions.
We'll also work within your financing constraints. And at the end of the day, we'll formulate a deal that's best for you.
Step 7 – Obtain a loan
Upon finishing the deal, you'll begin working with your mortgage lender to close the loan.
If you've been pre-approved, this won't take very long at all. However, you need to keep in close contact with your lender.
And I'll sort out all the property information your lender needs to close the loan.
Step 8 – Close the deal
You'll get a Loan Estimate (LE) of your closing costs from your lender within three days of getting your application.
The estimate is formed from the loan amount, and RESPA requirements dictate that it has to include all closing costs and be within a tight range of accuracy. I'll examine the estimate and let you know if everything looks permissible.
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 hassle-free occasion.
Step 9 – Move in
Congratulations! Now you can move into your new home. Enjoy it. And if you need anything, make sure you call me at 407-380-6363 or e-mail me at .