Buying or selling a home? Jason Compton can help.
For a lot of people, purchasing a home can be an intimidating event. But with a little planning ahead of time, it's not that difficult.
So they'll understand exactly what they can expect, I will supply buyers with an outline of the entire deal.
Here 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 any questions you have about this information.
Step 1 – Prepare to buy
Before you start searching for a home, there are plenty of things you should take into account.
When you start your search, you'll want to put together a checklist of items you want, get a feeling for what neighborhoods you want to live in, and begin working on your budget.
Keeping your mortgage payment less than or close to 1/3 of your net monthly income is a good principle to adhere to.
Step 2 – Speak with a real estate agent in Lexington
This is where Jason Compton can help.
I'd be happy to schedule a time to meet with you and talk about why you want to buy a home and get an idea of your plans for the future.
We'll talk about everything from neighborhoods, school districts in the Lexington area, the mortgage industry, to any other economic factors that may affect your purchase today or in the future.
I can also help you start the loan process.
There are some great mortgage professionals in Lexington, and I work with a lot of them, so you can rest assured that you're in great hands.
They can assist you with figuring out which type of loan is best for you and help you get approved.
Step 3 – Start looking for a home
Following our first meeting, I'll start looking for available homes on the market that meet your needs.
I'll preview most of the homes and remove the bad ones, and then we'll set up appointments to tour the homes whenever it's most convenient for you.
When we view the houses, I'll call attention to positive features, as well as bad ones. I'll also ask you to talk about things you like and don't like.
It's common for buyers to amend their must-have list as we view homes and some features become far more substantial than others.
If such is the case, I'll search all the listings once more and narrow it down to the home you've been wishing for.
Step 4 – Get a grasp of the housing market
My knowledge of the Lexington housing market is a fundamental component in your home search. I am conscious of all the school districts and neighborhoods, and I can communicate what neighborhoods are "hot" and call for prompt action and the ones that are "cold" and allow for careful consideration.
When we tour houses, I'll make sure to communicate when the seller's asking price has room for bargaining and when I think the home is "priced to sell."
Trust your instincts and make sure you ask lots of questions, as every REALTOR will convince you they understand the housing market.
If it appears they don't know everything, call me at (803) 957-5566 or e-mail me at , and I'll be glad to answer any questions you might have. My market expertise will keep you a step above the rest throughout the entire deal.
Step 5 – Find your dream house
We'll find the house of your dreams in the Lexington area, and when we do, I'll meticulously create your home purchase offer. The offer will be made to suit your needs and the home. We'll include several contingencies, such as getting financing, finishing the inspection, and a clear title.
When we turn in your purchase offer, most likely you'll need to present "earnest money." This is a cash deposit given to a home seller to secure the offer to purchase the property. The amount is most 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 plenty of time for your mortgage financing.
Step 6 – Negotiate
Most deals don't close on the initial offer – it's pretty common to receive a counter offer. Don't let this discourage you. We'll talk over whether or not to take the counter offer, submit our own counter offer, or reject the seller's offer and move on.
Market conditions determine 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 compose a deal that is best for you.
Step 7 – Secure your loan
After the contract is finalized, you'll begin working with your lender to close the loan.
If you're pre-approved, this won't take long at all, but you'll want to keep in close contact with your lender.
And I'll care for all the property information your lender needs to close the loan.
Step 8 – Close the deal
You'll get a Loan Estimate (LE) of closing costs from your lender within three days of getting your application.
This estimate rests on the loan amount, and RESPA requirements order that it has to involve all closing costs and fall within a strict range of accuracy. I'll analyze the estimate and let you know if everything looks permissible.
Then we'll close on your home. This should occur at a title company or escrow office and will most often be a smooth and relaxing affair.
Step 9 – Move in
Congratulations! It's time to move into your new home. Enjoy it. And if you need anything or have any questions, make sure you call me at (803) 957-5566 or e-mail me at .