Buying or selling a home in Orlando?
Buying a home intimidates most people, but with a bit of planning ahead of time, it isn't all that hard.
So they understand exactly what to expect, I like to provide buyers with an overview of the whole deal.
Below are my nine steps to purchasing a home.
When you're ready to get started, just contact me here or e-mail me at . I'm glad to address questions you have about this information.
Step 1 – Get ready to buy
Before you commence your home search, there are many things you should do.
When you begin your search, you'll want to put together a list of items you need, get a plan of what neighborhoods and school districts you'd like to live in, and begin working on your budget.
Keeping your mortgage payment less than or close to a third of your net monthly income is a good principle to go by.
Step 2 – Communicate with a real estate agent
This is where Royalty Real Estate Boutique, Inc. comes in.
We can book a time to meet so we can talk about your real estate needs and get an idea of your upcoming plans.
We'll talk about neighborhoods, schools in the Orlando area, the mortgage industry, and any other economic factors that could potentially affect your purchase today or in the future.
In addition, I'll assist you in getting started on your loan.
There are some very good mortgage professionals in Orlando, and I work with a lot of them, so you'll be in great hands.
They'll help you determine which type of loan is best for you, as well as help you get approved.
Step 3 – Start looking
Following our initial meeting, I'll begin looking for available houses on the market that are great for you.
I'll get a sneak peek of many of the homes and ignore the duds, and then we'll book appointments to tour the houses at a time that's convenient for you.
As we tour homes, I'll point out positive features, as well as bad ones. And I'll ask you what things you like and dislike.
It's pretty common for buyers to revise their must-have list as we view homes and some features become more substantial than others.
If that's the case, I'll go back through all the listings one more time and trim it down to the home you've been wishing for.
Step 4 – Know the market
My understanding of the Orlando housing market is a leading aspect in your house search. I'm familiar with all the schools and neighborhoods, and I'll let you know which districts are "hot" and call for immediate action and some that are "cool" and allow for more examination.
As we tour homes, I'll let you know when the list price has room for bargaining and also when I think the home is "priced to sell."
Any REALTOR will claim to truly understand the market, but be careful, and be sure to ask your agent a lot of questions.
If it appears they don't know everything, contact me at 407-380-6363 or e-mail me at , and I'll be more than happy to answer any questions you might have. My market expertise will help you stay a step ahead through the entire deal.
Step 5 – Find the home of your dreams
I know we'll find your dream house in the Orlando area. When that happens, I'll carefully create your purchase offer. The offer will be tailored with your needs in mind and the home, including some contingencies, such as obtaining financing, completing the home inspection, and a clear title.
When sending in your offer, most likely you'll need to submit "earnest money." This is a cash deposit submitted to the home seller to secure an offer to buy the property, and it's typically put towards the closing costs. If your offer is accepted by the seller, we should close on the property about 30 to 60 days after. This allows necessary time for your mortgage financing.
Step 6 – Negotiate the deal
Unfortunately most deals aren't closed on the beginning offer. It's very common to receive a counter offer. Don't let this discourage you. We'll figure out whether or not to consent to the counter offer, present our own counter offer, or refuse the seller's offer and move on.
The state of the market will play a vital role in how aggressively we negotiate the contract.
We'll also work within your financing limits. And at the end of the day, we'll create a contract that's best for you.
Step 7 – Obtain your loan
After we sign the final contract, you'll begin working with your lender to close the loan.
It shouldn't be a long process at all if you're already pre-qualified, but you'll want to keep in close contact with your lender.
And I'll deal with all the property information your lender needs to close the loan.
Step 8 – Close the deal
You'll get a Loan Estimate (LE) of closing costs from your lender within three days of receiving your loan application.
This estimate depends on the loan amount, and RESPA requirements mandate that it has to involve all closing costs and fall within a precise range of accuracy. I'll go over the estimate and let you know if it all looks all right.
Then it's time to close on your house. This will most likely happen at a title company or escrow office and will likely be a smooth and pleasant affair.
Step 9 – Move in
Congratulations! Now you can move into your new house. Enjoy it. And if you need anything, simply contact me at 407-380-6363 or e-mail me at .