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

For many people, buying a home is a stressful event. But with a bit of planning ahead of time, it's not too difficult. So they'll know exactly what to expect, I will give buyers an outline of the whole deal. Here 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 answer questions you have regarding this information.

Step 1 – Get ready to purchase a home
Before you commence your home search, there are plenty of things you need to consider. You'll probably want to assemble a list of features you want to have, get a feel for what school districts and neighborhoods you want to live in, and begin working on your budget. Ensuring your mortgage payment is no more than 1/3 of your net monthly income is a good principle to follow.

Step 2 – Get in touch with a real estate agent
That's where I come in. We'll schedule a time to meet so we can 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, schools in the Lexington area, the mortgage and housing industries, to any other economic factors that might affect your buying decision today or in the future.

I can also assist you with getting started on your loan. I partner with some of Lexington's finest mortgage professionals, so you're in great hands. They'll assist you with choosing which type of loan is best for you and help you get qualified.

Step 3 – Start house-hunting
After our initial meeting, I'll begin searching for available houses on the market that are great for you. I'll get a sneak peek of many of the houses and eliminate the duds, and then we'll schedule appointments to tour the homes at a time that's convenient for you.

When we tour houses, I'll point out good features and bad ones. I'll even ask you to talk about things you like and don't like. It's pretty common for buyers to revise their wish list as we tour homes and some features become far more essential than others. If that happens, I'll look through all the listings once again and narrow it down to the home you've been waiting for.

Step 4 – Understand the housing market
Your agent's understanding of the Lexington housing market is an essential component in your house search. And I assure you I'm mindful of all the neighborhoods and school districts, and I can alert you to some districts are "hot" and call for prompt action and some that are "cold" and allow for thoughtful consideration.

When we tour homes, I'll make sure to communicate when the seller's asking price has room for negotiation and also when I think the home is "priced to sell." When working with an agent, trust your instincts and make sure you ask lots of questions, as any REALTOR will convince you they truly know the housing market. If things don't add up, just call me at 8036655253 or e-mail me at , and I'd be glad to answer any questions you have. My knowledge of the market will keep you a step ahead throughout the entire deal.

Step 5 – Find the house you've been looking for
We'll find your dream house in Lexington, and when that happens, I'll precisely develop your real estate purchase offer. The offer will be tailored exactly to your needs and the home, including several contingencies. A few examples are getting financing, completing the home inspection, and a clean title.

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

Step 6 – Negotiate the deal
A lot of deals 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 figure out whether or not to accept the counter offer, propose our own counter offer, or decline the seller's offer and move on.

Market circumstances determine how aggressively we negotiate the contract. We'll also work within your financing budget. And when it's all said and done, we'll put together a contract that works well for you.

Step 7 – Get a loan
Upon finishing the deal, you'll begin working with your lender to close the loan. If you've been pre-qualified, this shouldn't take long at all, but you'll need to keep in close contact with your mortgage lender. And I'll deal with all the property information your mortgage lender needs to close the loan.

Step 8 – Close the deal
You'll get a Loan Estimate (LE) outlining closing costs from your mortgage lender within three days of accepting your application. This estimate depends on the loan amount, and RESPA requirements require that it has to contain all closing costs and fall within a strict range of accuracy. I'll review the estimate and let you know if everything looks permissible.

Then we'll close on your home. This will probably happen at a title company or escrow office and will probably be a smooth and relaxing affair.

Step 9 – Move in
Congratulations! It's time to move into your new house. Enjoy it. And if you need anything or have any questions, just call me at 8036655253 or e-mail me at .