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

With some up-front planning, purchasing a home isn't that difficult, but the event is intimidating for many people. So they know exactly what they can expect, I like to supply buyers with an outline of the entire deal. These are my nine steps to buying a home. If you have questions regarding this information or if you're ready to get started, you can contact me here or e-mail me at .

Step 1 – Get ready to buy a home
Prior to beginning your home search, there are many things you should consider. You'll most likely want to form a checklist of items you need, get a plan of what neighborhoods you want to live in, and begin working on your budget. A good rule to adhere to is that your mortgage payment should be less than or around 1/3 of your monthly income.

Step 2 – Get in touch with a real estate agent
That's where I come in. I'd be happy to plan a time to meet with you and speak with you about why you want to buy a home and get an idea of your upcoming plans. We'll talk about the mortgage and housing industries, other economic factors that could affect your buying decision today or in the future, as well as neighborhoods and schools in the Lexington area.

In addition, I'll assist you with getting started on your loan. Jason Compton works with some of Lexington's best mortgage professionals, so you're in great hands. They can help you decide which type of loan is best for you, as well as help you get qualified.

Step 3 – Start looking for a home
After our initial meeting, I'll start searching for available houses on the market that are great for you. I'll research many of the homes and reject the bad ones, and then we'll book appointments to tour the homes whenever it's convenient for you.

As we view the homes, I'll identify good features and bad ones. I'll also ask you to point out what things you like and dislike. It's pretty common for buyers to revise their wish list as we view homes and some items become far more crucial than others. If such is the case, I'll go back through the listings again and narrow it down to the house you've been waiting for.

Step 4 – Get a grasp of the market
My understanding of the Lexington home market is a crucial factor in your house search. I'm mindful of all the school districts and neighborhoods, and I can communicate certain neighborhoods are "hot" and warrant prompt action and others that are "cold" and allow for thoughtful analysis.

When we tour houses, I'll make sure to communicate if the seller's list price has room for bargaining or if I believe the house is "priced to sell." Any real estate agent in Lexington will claim to truly know the market, but beware, and make sure you ask your agent lots of questions. If things don't add up, just call me at (803) 957-5566 or e-mail me at , and I'll be more than happy to answer any questions you may have. My understanding of the market will help you stay a step above the rest through the entire process.

Step 5 – Find the house you've been waiting for
We'll find the house of your dreams in Lexington, and when that happens, I'll meticulously develop your home purchase offer. The offer will be tailored with your needs in mind and the home, including many contingencies, such as getting financing, finishing the home inspection, and a clear title.

When we send in your offer, you'll need to present "earnest money." This is a cash deposit given to a seller to secure an offer to purchase the property and is most often put towards the cost of closing. If the seller accepts the offer, we should close on the home about 30 to 60 days after. This allows enough time for your mortgage financing.

Step 6 – Negotiate the deal
Unfortunately most deals aren't closed on the initial offer, and it's extremely common to receive a counter offer. But don't let it discourage you. We'll figure out whether or not to consent to the counter offer, submit our own counter offer, or decline the seller's offer and move on.

How aggressively we negotiate the contract depends on the state of the market. We'll also work within your financing limits. And at the end of the day, we'll compose a deal that works well for you.

Step 7 – Obtain financing
Upon finalizing the deal, you'll start working with your lender to close the loan. If you've been pre-qualified, this won't take long at all, but you'll need to keep in close contact with your lender. And I'll care for all the property information your lender will need to close the loan.

Step 8 – Close the deal
Your mortgage lender will furnish you with a Loan Estimate (LE) outlining closing costs within three days of receiving your loan application. You'll get a Loan Estimate (LE) outlining closing costs from your lender within three days of accepting your loan application. This estimate is based on 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 examine the estimate and let you know if everything looks okay.

Then we'll close on your home. This should occur at a title company or escrow office and is often a smooth and hassle-free affair.

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