Buying a home in Lexington

Purchasing a home is a stressful event for a lot of people. However, with some planning ahead of time, it isn't all that complex. I like to supply buyers with a road map of the entire deal so they'll understand exactly what they can expect. Below are my nine steps to buying a home. When you're ready to get started, simply contact me here or e-mail me at . I'm happy to address any questions you have regarding this information.

Step 1 – Prepare to buy
There are several things you need to take into account before you start searching for a home. You'll want to create an index of items you want, get a feel for what school districts you want to live in, and start planning your budget. A good principle to go by is that your mortgage payment should be less than or around 1/3 of your monthly income.

Step 2 – Talk to a real estate agent in Lexington
That's where I come in. I'd love to arrange a time to meet with you and communicate with you regarding why you want to buy a home and get an idea of your future plans. We'll talk about everything from neighborhoods, school districts in the Lexington area, the mortgage industry, to any other economic factors that may potentially affect your purchase today or in the future.

In addition, I'll assist you with getting started on your loan. There are some great mortgage professionals in Lexington, and I partner with a lot of them, so you can rest assured that you're in great hands. They will help you decide which kind of loan is best for you, as well as help you get approved.

Step 3 – Begin house-hunting
Following our first meeting, I'll begin searching for homes on the market that are good for you. I'll research many of the homes and ignore the bad ones, and then we'll set up appointments to view the homes at a time that's convenient for you.

As we view the homes, I'll point out positive features, as well as bad ones. I'll also ask you to talk about things you like and don't like. As a rule, buyers 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 the listings one more time and narrow it down to the house you've been waiting for.

Step 4 – Get a grasp of the market
An agent's knowledge of the Lexington market is an imperative agent in your house search. And I can assure you I'm familiar with all the schools and neighborhoods, and I will communicate some areas are "hot" and call for prompt action and others that are "cold" and allow for thoughtful examination.

When we view homes, I'll let you know when the list price has room for negotiation and also when I believe the house is "priced to sell." Any real estate agent in Lexington will tell you they understand the housing market, but keep an eye out, and be sure to ask a lot of questions. If things don't add up, just call me at 8036655253 or e-mail me at , and I'd be happy to answer any questions you may have. My market expertise will keep you a step ahead 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 thoroughly develop your home purchase offer. The offer will be tailored exactly to your needs and the home, including a lot of contingencies, such as getting financing, completing the home inspection, and a clear title.

When we submit your offer, you'll likely need to present "earnest money." This is a cash deposit made to the home seller to secure the offer to buy the property, and it's often applied to the cost of closing. If the offer is accepted by the seller, we should close about 30 to 60 days afterward. This allows necessary time for your mortgage financing.

Step 6 – Negotiate the deal
A lot of deals aren't closed on the beginning offer. It's extremely common to receive a counter offer. But don't let this alarm you. We'll discuss whether or not to accept the counter offer, present our own counter offer, or refuse the seller's offer and go on.

Market conditions determine how aggressively we negotiate the contract. We'll also work within your budget. And when it's all said and done, we'll create a deal that is best for you.

Step 7 – Secure financing
After we sign the final deal, you'll begin working with your mortgage lender to close the loan. If you're pre-qualified, this shouldn't take very long at all. However, you should to stay in close contact with your lender. And I'll deal with all the property information your mortgage lender will need to close the loan.

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

Then we'll close on your home. This should take place at a title company or escrow office and will probably be a smooth and calm affair.

Step 9 – Move in
Congratulations! Now you can move into your new home. Enjoy it. And if you need anything, simply call me at 8036655253 or e-mail me at .