Let Jason Compton help you with purchasing a home in Lexington

Buying a home is a stressful event for many people, but it isn't all that confusing with some planning ahead of time. So they'll know exactly what to expect, I like to provide buyers with a road map of the whole deal. Here 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 – Get ready to buy a home
Before you begin looking for a home, there are many things you should contemplate. You'll want to create a list of features you need to have, get a plan of what neighborhoods and school districts you want to live in, and start working on your budget. A good principle to go by is that your mortgage payment should be close to 30 percent of your monthly income.

Step 2 – Connect with a real estate agent in Lexington
This is where Jason Compton comes in. I'd like to set up a time to meet with you and talk about why you want to buy a home and get an idea of your future plans. We'll talk about the mortgage and housing industries, other economic factors that might affect your buying decision today or in the future, as well as neighborhoods and schools in the Lexington area.

In addition, I'll assist you with getting started on your loan. I partner with some of the best mortgage professionals in Lexington, so you're in great hands. They will assist you in choosing which kind of loan is best for you and help you get qualified.

Step 3 – Begin your home search
After our first meeting, I'll begin finding available houses on the market that meet your needs. I'll research many of the homes and ignore the duds, and then we'll schedule appointments to tour the homes whenever it's convenient for you.

When we view homes, I'll call attention to good features, as well as bad ones. I'll even ask you to point out what things you like and don't like. It's common for buyers to amend their wish list as we view houses and some features become more important than others. If such is the case, I'll search all the listings again and trim it down to the house of your dreams.

Step 4 – Know the housing market
Your agent's understanding of the Lexington housing market is an essential element in your home search. And I assure you I'm conscious of all the school districts and neighborhoods, and I'll alert you to what neighborhoods are "hot" and demand prompt action and others that are "cold" and allow for cautiousness.

When we tour homes, I'll let you know if the asking price has room for negotiation or if I believe the house is "priced to sell." Be on guard and be sure to ask a lot of questions, as every real estate agent will tell you they truly understand the market. If things don't add up, contact me at (803) 957-5566 or e-mail me at , and I'd be glad to answer any questions you might 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 know we'll find the home of your dreams in Lexington. When we do, I'll meticulously create your purchase offer. The offer will be made to suit your needs and the home. We'll include a lot of contingencies, such as obtaining financing, carrying out the inspection, and a clear title.

Upon submitting your purchase offer, most likely you'll want to submit "earnest money." This is a cash deposit submitted to the home seller to secure an offer to buy the property and is often applied to the cost of closing. If the offer is accepted by the seller, we should close on the property within 30 to 60 days after. This allows enough time for your mortgage financing.

Step 6 – Negotiate the deal
Most contracts don't close on the first offer – it's very common to receive a counter offer. Don't let it alarm you. We'll discuss whether or not to accept the counter offer, present our own counter offer, or reject the seller's offer and move on.

How aggressively we negotiate the deal depends on market conditions. We'll also work within your financing budget. And at the end of the day, we'll compose a contract that's best for you.

Step 7 – Get financing
After we sign the final deal, you'll start working with your lender to close the loan. It shouldn't take long at all if you're pre-approved, but you should to keep in close contact with your mortgage lender. And I'll handle all the property information your lender will need to close the loan.

Step 8 – Close the deal
You'll get a Loan Estimate (LE) of closing costs from your mortgage lender within three days of receiving your application. The estimate is formed from the loan amount. RESPA requirements order that it has to contain all closing costs and be within a close range of accuracy, and I'll study the estimate and let you know if everything looks good.

Then it's time to close on your home. This will likely occur at a title company or escrow office and will most likely be a smooth and relaxing affair.

Step 9 – Move in
Congratulations! Now you can move into your new home. Enjoy it. And if you need anything or have any questions, be sure to contact me at (803) 957-5566 or e-mail me at .