Are you contemplating buying a new home in Lexington? Jason Compton can help.

For many people, buying a home can be a stressful event. However, with some up-front planning, it isn't too complicated. I like to give buyers an overview of the whole deal so they know exactly what to expect. Here are my nine steps to purchasing a home. If you have questions regarding this information or if you're prepared to get started, simply contact me here or e-mail me at .

Step 1 – Get ready to buy a home
There are many things you should consider before starting your home search. You'll most likely want to create a check list of features you want, get an idea of what neighborhoods you'd like to live in, and begin planning your budget. A good principle to go by is that your mortgage payment should be around 30 percent of your monthly income.

Step 2 – Contact a real estate agent
That's where I come in. I'd love to arrange a time to get together with you and speak with you regarding your real estate needs and get an idea of your upcoming plans. We'll talk about everything from neighborhoods, school districts in the Lexington area, the mortgage industry, to any other economic factors that could affect your buying decision today or in the future.

I'll also help you get started on your loan. Jason Compton partners with some of Lexington's finest mortgage professionals, so you can rest assured that you're in great hands. They'll help you decide which type of loan is best for you, as well as help you get qualified.

Step 3 – Begin looking
After our first meeting, I'll start looking for houses on the market that suit your needs. I'll preview many of the houses and throw out the bad ones, and then we'll set up appointments to tour the homes when it's convenient for you.

As we view the homes, I'll identify good features and bad ones. I'll also ask you what things you like and don't like. For the most part, buyers update their list of must-haves as we view homes and some features become more crucial than others. If that's the situation, I'll go back through all the listings one more time and narrow it down to the home of your dreams.

Step 4 – Know the housing market
Your agent's awareness of the Lexington market is an essential element in your home search. And I can assure you I'm familiar with all the neighborhoods and schools, and I will communicate what areas are "hot" and demand immediate action and the ones that are "cold" and allow for thoughtful consideration.

When we tour houses, I'll let you know if the seller's asking price has room for bargaining or if I believe the house is "priced to sell." Be on guard and be sure to ask your agent plenty of questions, as any REALTOR in Lexington will claim to truly know the home market. If it doesn't seem like they know everything, contact me at (803) 957-5566 or e-mail me at , and I'd be more than happy to answer any questions you might have. My understanding of the market will help you stay a step ahead through the entire deal.

Step 5 – Find the home of your dreams
We'll find the home of your dreams in the Lexington area, and when we do, I'll thoroughly create your home purchase offer. The offer will be tailored to suit your needs and the home, including some contingencies. A few examples are getting financing, finishing the home inspection, and a clear title.

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

Step 6 – Negotiate
Most contracts 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 about whether or not to take the counter offer, propose our own counter offer, or refuse the seller's offer and go on.

The state of the market determines how aggressively we negotiate the deal. In addition, we'll work within your financing constraints. And at the end of the day, we'll assemble a contract that is best for you.

Step 7 – Get your loan
Once the deal is signed, you'll start working with your lender to close the loan. If you're already pre-qualified, this won't take long at all. However, you'll want to stay in close contact with your mortgage lender. And I'll handle all the property information your lender needs to close the loan.

Step 8 – Close the deal
Your lender will send you a Loan Estimate (LE) detailing your closing costs within three days of getting your application. You'll get a Loan Estimate (LE) of closing costs from your lender within three days of taking your loan application. This estimate rests on the loan amount, and RESPA requirements order that it has to include all closing costs and be within a precise range of accuracy. I'll examine the estimate and let you know if everything looks all right.

Then we'll close on your home. This will most likely occur at a title company or escrow office and will most often be a smooth and pleasant occurrence.

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