Buying or selling a home in Lexington? Jason Compton can help.

Buying a home is stressful for many people, but it isn't too complex with some planning ahead of time. I like to give buyers a road map of the whole deal so they'll understand exactly what they can expect. 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 happy to answer questions you have regarding this information.

Step 1 – Get ready to buy
There are plenty of things you should take into account before commencing your home search. When you begin your search, you'll probably want to make an index of must-haves, plan for what neighborhoods and school districts you'd like to live in, and begin planning your budget. Keeping your mortgage payment around a third of your monthly income is a good guideline to go by.

Step 2 – Talk to a real estate agent in Lexington
This is where Jason Compton comes in. I'd love to arrange a time to meet with you and communicate with you regarding your real estate needs and get an idea of your plans for the future. We'll talk about neighborhoods, school districts in the Lexington area, the mortgage and housing industries, and any other economic factors that could affect your purchase today or in the future.

I can also assist you in getting started on your loan. There are some excellent mortgage professionals in Lexington, and I partner with a lot of them, so you'll be in great hands. They can help you determine which kind of loan is best for you, as well as help you get qualified.

Step 3 – Begin your home search
After our first meeting, I'll begin finding available houses on the market that meet your needs. I'll preview most of the houses and reject the bad ones, and then we'll set up appointments to view the houses whenever it's most convenient for you.

As we view the houses, I'll identify good features, as well as negative ones. I'll also ask you what things you like and dislike. Frequently, buyers revise their must-have list as we tour homes and some items become more crucial than others. If that happens, I'll search all the listings once again and narrow it down to the house you've been waiting for.

Step 4 – Get a grasp of the housing market
Your agent's knowledge of the Lexington market is an essential component in your house search. And I can assure you I'm informed of all the neighborhoods and schools, and I will communicate certain areas are "hot" and require prompt action and some that are "cool" and allow for thoughtful examination.

As we tour houses, I'll let you know when the list price has room for negotiation and also when I believe the home is "priced to sell." Every real estate agent in Lexington will convince you they truly know the market, but be careful, and make sure you ask your agent lots of questions. If it appears they don't know everything, call me at 8036655253 or e-mail me at , and I'd be glad to answer your questions. My understanding of the market will help you stay a step above the rest throughout the entire deal.

Step 5 – Find the home you've been looking for
We'll find the house of your dreams in Lexington, and when we do, I'll thoroughly develop your home purchase offer. The offer will be tailored to suit your needs and the home, including a lot of contingencies, such as obtaining financing, finishing the home inspection, and a clear title.

When presenting your offer, most likely you'll want to submit "earnest money." This is a cash deposit made to a seller to secure the offer to purchase the property and is typically put towards the cost of closing. If the seller accepts your offer, we should close on the property within 30 to 60 days after. This allows sufficient time for your mortgage financing.

Step 6 – Negotiate
A lot of contracts aren't closed on the initial offer. It's really common to receive a counter offer. But don't let it alarm you. We'll talk over whether or not to agree to 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 when it's all said and done, we'll assemble a contract that is best for you.

Step 7 – Get your loan
Once the deal is finished, you'll start working with your mortgage lender to close the loan. If you're pre-qualified, it won't be a long process at all. However, you'll want to keep in close contact with your mortgage lender. And I'll take care of all the property information your lender needs to close the loan.

Step 8 – Close the deal
You'll get a Loan Estimate (LE) of your closing costs from your lender within three days of getting your application. The estimate is formed from the loan amount. RESPA requirements dictate that it has to involve all closing costs and fall within a narrow range of accuracy, and I'll review the estimate and let you know if it all looks adequate.

Then it's time to close on your home. This will most likely happen at a title company or escrow office and will most likely be a smooth and hassle-free occurrence.

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, make sure you contact me at 8036655253 or e-mail me at .