Buying or selling a home in Orlando? Royalty Real Estate Boutique, Inc. can help.
Purchasing a home intimidates most people, but it isn't that complicated with a bit of up-front planning.
So they understand exactly what they can expect, I like to furnish buyers with an overview of the entire 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 purchase a home
There are many things you need to take into account before you search for a home.
When you start your search, you'll want to form a checklist of must-haves, get a feeling for what school districts and neighborhoods you'd like to live in, and start working on your budget.
Keeping your mortgage payment less than or around 30 percent of your monthly income is a good principle to go by.
Step 2 – Get in touch with a real estate agent in Orlando
That's where I can help.
We can arrange a time to meet so we can talk about your real estate needs and get an idea of your plans for the future.
We'll talk about everything from neighborhoods, school districts in the Orlando area, the mortgage industry, to any other economic factors that could affect your purchase today or in the future.
I can also help you start the loan process.
There are some excellent mortgage professionals in Orlando, and I work with a lot of them, so you're in great hands.
They'll help you figure out which kind of loan is best for you, as well as help you get approved.
Step 3 – Start your search
After our first meeting, I'll start finding houses on the market that suit your needs.
I'll research most of the houses and throw out the bad ones, and then we'll book appointments to view the houses whenever it's convenient for you.
As we tour the houses, I'll point out positive features and bad ones. And I'll ask you about things you like and dislike.
As a rule, buyers change their wish list as we view homes and some things become more important than others.
If that happens, I'll search all the listings again and narrow it down to the home you've been wishing for.
Step 4 – Get a grasp of the housing market
My understanding of the Orlando home market is an imperative element in your house search. I'm conscious of all the neighborhoods and schools, and I can communicate some areas are "hot" and require prompt action and some that are "cool" and allow for more consideration.
As we view homes, I'll let you know when the seller's asking price has room for bargaining and also when I believe the home is "priced to sell."
When working with an agent, trust your instincts and be sure to ask plenty of questions. Every REALTOR in Orlando will claim to truly understand the home market.
If things don't add up, call me at 407-380-6363 or e-mail me at , and I'll be more than happy to answer your questions. My market knowledge will help you stay a step above the rest throughout the entire process.
Step 5 – Find your dream house
We'll find the home of your dreams in the Orlando area, and when we do, I'll meticulously create your purchase offer. The offer will be tailored keeping your needs in mind and the home, including some contingencies. A few examples are obtaining financing, finishing the home inspection, and a clean title.
Upon turning in your purchase offer, you'll probably want to present "earnest money." This is a cash deposit made to the seller to secure an offer to buy the property. The amount is typically put towards the cost of closing. If the seller accepts your offer, we should close on the home about 30 to 60 days after. This allows plenty of time for your mortgage financing.
Step 6 – Negotiate the deal
Most contracts don't close on the first offer, and it's pretty common to receive a counter offer. But don't let this intimidate you. We'll consider whether or not to accept the counter offer, submit our own counter offer, or reject the seller's offer and go on.
The state of the market will play a part in how aggressively we negotiate the contract.
In addition, we'll work within your financing constraints. And when it's all said and done, we'll formulate a deal that's best for you.
Step 7 – Obtain financing
Once we sign the final sales contract, you'll start working with your lender to close the loan.
If you've been pre-qualified, this shouldn't take very long at all. But you'll want to stay in close contact with your mortgage lender.
And I'll take care of all the property information your mortgage lender will need to close the loan.
Step 8 – Close the deal
Your mortgage lender will provide you with a Loan Estimate (LE) of closing costs within three days of getting your loan application. You'll get a Loan Estimate (LE) of closing costs from your lender within three days of getting your application.
This estimate depends on the loan amount, and RESPA requirements order that it has to contain all closing costs and fall within a tight range of accuracy. I'll review the estimate and let you know if it all looks permissible.
Then it's time to close on your house. This will most often happen at a title company or escrow office and will most often be a smooth and pleasant occurrence.
Step 9 – Move in
Congratulations! It's time to move into your new house. Enjoy it. And if you have any questions, just call me at 407-380-6363 or e-mail me at .