Let IREAF, LLC assist you in purchasing your home in Austin
Buying a home can be stressful for most people. However, with a bit of planning ahead of time, it's not that complex.
I like to furnish buyers with an outline of the whole deal so they know exactly what they can expect.
Below are my nine steps to buying a home.
If you have any questions about this information or if you're prepared to get started, simply contact me here or e-mail me at .
Step 1 – Get ready to purchase a home
There are many things you need to contemplate before you look for a home.
You'll most likely want to put together a checklist of items you want to have, get a feeling for what school districts and neighborhoods you'd like to live in, and begin planning your budget.
Ensuring your mortgage payment is less than or close to 30 percent of your monthly income is a good rule to go by.
Step 2 – Communicate with a real estate agent in Austin
This is where IREAF, LLC can help.
I'd love to set up a time to meet with you and communicate with you regarding your real estate needs and get an idea of your upcoming plans.
We'll discuss everything from neighborhoods, school districts in the Austin area, the mortgage and housing industries, to any other economic factors that might affect your purchase today or in the future.
I'll also help you facilitate the loan process.
IREAF, LLC works with some of the best mortgage professionals in Austin, so you're in great hands.
They will assist you in figuring out which kind of loan is best for you and help you get approved.
Step 3 – Start house-hunting
After we meet, I'll start finding homes on the market that are a great fit for you.
I'll research many of the homes and ignore the bad ones, and then we'll schedule appointments to tour the houses when it's most convenient for you.
When we tour the houses, I'll show you the good features, as well as bad ones. And I'll ask you what things you like and dislike.
Most often, buyers amend their list of must-haves as we view homes and some features become more essential than others.
If such is the case, I'll go back through the listings one more time and narrow it down to the home you've been wishing for.
Step 4 – Understand the market
My knowledge of the Austin housing market is a fundamental aspect in your home search. I am mindful of all the neighborhoods and school districts, and I will let you know what neighborhoods are "hot" and require prompt action and some that are "cool" and allow for more consideration.
As we view homes, I'll make sure to communicate when the seller's list price has room for negotiation and also when I think the house is "priced to sell."
Any real estate agent will convince you they comprehend the market, but be on guard, and be sure to ask your agent lots of questions.
If it appears they don't know everything, call me at 512-241-1707 or e-mail me at , and I'll be happy to answer your questions. My knowledge of the market will help you stay a step above the rest through the entire process.
Step 5 – Find the house you've been waiting for
I know we'll find your dream home in the Austin area. When we do, I'll precisely create your home purchase offer. The offer will be tailored to suit your needs and the home, including several contingencies, such as acquiring financing, completing the home inspection, and a clean title.
When sending in your offer, most likely you'll need to submit "earnest money." This is a cash deposit given to a home seller to secure the offer to purchase the property, and it's typically put towards the closing costs. If your offer is accepted by the seller, we should close on the home within 30 to 60 days after. This allows sufficient time for your mortgage financing.
Step 6 – Negotiate the deal
Most deals don't close on the initial offer – it's widely common to receive a counter offer. But don't let it alarm you. We'll talk over whether or not to take the counter offer, propose our own counter offer, or refuse the seller's offer and move on.
The state of the market will play a part in how aggressively we negotiate the deal.
We'll also work within your budget. And when it's all said and done, we'll assemble a deal that works well for you.
Step 7 – Get financing
Once the contract is finalized, you'll begin working with your lender to close the loan.
If you're pre-approved, this won't be a long process at all, but you need to keep in close contact with your lender.
And I'll take care of all the property information your lender will need to close the loan.
Step 8 – Close the deal
Your mortgage lender will provide you with a Loan Estimate (LE) detailing your closing costs within three days of getting your loan application. You'll get a Loan Estimate (LE) of your closing costs from your lender within three days of taking your application.
This estimate depends on the loan amount. RESPA requirements mandate that it has to involve all closing costs and be within a tight range of accuracy, and I'll examine the estimate and let you know if everything looks okay.
Then it's time to close on your home. This will probably happen at a title company or escrow office and will most likely be a smooth and peaceful occurrence.
Step 9 – Move in
Congratulations! Now you can move into your new house. Enjoy it. And if you need anything, be sure to call me at 512-241-1707 or e-mail me at .