Let Jason Compton assist you in purchasing a new home in Lexington

Buying a home is intimidating for most people, but with a bit of up-front planning, it's not very hard. I like to supply buyers with a road map of the whole deal so they understand exactly what they can expect. These are my nine steps to buying a home. Should you have questions regarding any of this information or if you're ready to get started, just contact me here or e-mail me at .

Step 1 – Get ready to purchase a home
Before you start looking for a home, there are a lot of things you should do. It's likely that you'll want to put together a checklist of features you want to have, get a feel for what school districts you'd like to live in, and start working on your budget. A good rule of thumb to adhere to is that your mortgage payment should be no more than a third of your monthly income.

Step 2 – Connect with a real estate agent
That's where I come in. I'd like to plan a time to meet with you and speak with you regarding why you want to buy a home and get an idea of your upcoming plans. We'll discuss neighborhoods, schools in the Lexington area, the mortgage industry, and any additional economic factors that might affect your buying decision today or in the future.

In addition, I'll help you start the loan process. There are some great mortgage professionals in Lexington, and I work with a lot of them, so you'll be in great hands. They will help you figure out which type of loan is best for you, as well as help you get qualified.

Step 3 – Begin house-hunting
Following our first meeting, I'll begin looking for available homes on the market that are good for you. I'll get a sneak peek of many of the homes and exclude the bad ones, and then we'll set up appointments to view the homes whenever it's most convenient for you.

When we view homes, I'll show you the positive features and negative ones. I'll even ask you to point out what things you like and dislike. It's pretty common for buyers to update their wish list as we tour homes and some features become far more substantial than others. If that's the case, I'll look through the listings once again and narrow it down to the house of your dreams.

Step 4 – Comprehend the housing market
An agent's awareness of the Lexington home market is a fundamental element in your home search. And I can assure you I'm informed of all the neighborhoods and schools, and I can communicate certain districts are "hot" and call for prompt action and the ones that are "cool" and allow for careful analysis.

As we view homes, I'll be sure to tell you when the asking price has room for bargaining and also when I know the house is "priced to sell." When working with an agent, be mindful and be sure to ask a lot of questions. Any real estate agent in Lexington will tell you they truly know the home market. If it seems like they don't know everything, just call me at (803) 957-5566 or e-mail me at , and I'll be more than happy to answer your questions. My market expertise will help you stay a step ahead throughout the entire process.

Step 5 – Find the house you've been looking for
We'll find the house of your dreams in Lexington, and when we do, I'll carefully create your real estate purchase offer. The offer will be tailored keeping your needs in mind and the home, including some contingencies. A few examples are acquiring financing, carrying out the inspection, and a clear title.

When presenting your offer, you'll likely need to present "earnest money." This is a cash deposit submitted to a seller to secure the offer to buy the property and is often applied to the cost of closing. If the seller accepts the offer, we should close about 30 to 60 days after. This allows sufficient time for your mortgage financing.

Step 6 – Negotiate
A lot of contracts aren't closed on the initial offer – it's extremely common to receive a counter offer. But don't let it discourage you. We'll figure out whether or not to take the counter offer, propose our own counter offer, or reject the seller's offer and go on.

Market circumstances will play a large role in how aggressively we negotiate the contract. We'll also work within your financing budget. And when it's all said and done, we'll create a contract that works well for you.

Step 7 – Obtain financing
Once we sign the final contract, you'll start working with your mortgage lender to close the loan. If you're already pre-approved, this won't take much time at all. But you need to stay in close contact with your mortgage lender. And I'll look after all the property information your mortgage lender needs to close the loan.

Step 8 – Close the deal
Your lender will supply you with a Loan Estimate (LE) of closing costs within three days of taking your application. You'll get a Loan Estimate (LE) detailing closing costs from your mortgage lender within three days of receiving your application. This estimate is formed from the loan amount. RESPA requirements mandate that it has to involve all closing costs and fall within a strict range of accuracy, and I'll study the estimate and let you know if everything looks adequate.

Then we'll close on your house. This will most likely take place at a title company or escrow office and is often a smooth and comfortable event.

Step 9 – Move in
Congratulations! Now you can move into your new house. Enjoy it. And if you need anything, simply contact me at (803) 957-5566 or e-mail me at .

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