Buying or selling a home?

Buying a home can be stressful for most people, but with some planning ahead of time, it isn't all that complex. So they know exactly what they can expect, I like to provide buyers with a road map of the entire deal. Below are my nine steps to buying a home. When you're ready to get started, just contact me here or e-mail me at . I'm glad to answer questions you have regarding this information.

Step 1 – Prepare to buy a home
There are several things you need to consider before beginning your home search. It's likely that you'll want to make a check list of features you want to have, get an idea of what school districts you'd like to live in, and begin working on your budget. Keeping your mortgage payment less than a third of your monthly income is a good rule of thumb to adhere to.

Step 2 – Talk to a real estate agent in Lexington
This is where Jason Compton comes in. I'd be more than happy to set up a time to get together with you and communicate with you regarding your real estate needs and get an idea of your future plans. We'll talk about neighborhoods, school districts in the Lexington area, the mortgage and housing industries, and any other economic factors that may potentially affect your buying decision today or in the future.

In addition, I'll help you start the loan process. I partner with some of Lexington's finest mortgage professionals, so you'll be in great hands. They'll help you choose which type of loan is best for you, as well as help you get approved.

Step 3 – Start looking
After our first meeting, I'll begin finding available houses on the market that best suit you. I'll get a sneak peek of many of the homes and reject the bad ones, and then we'll set up appointments to view the houses when it's most convenient for you.

As we view the homes, I'll show you the good features and negative ones. And I'll ask you to point out what things you like and dislike. Usually, buyers change their list of must-haves as we view homes and some items become far more important than others. If that's the case, I'll search the listings once more and trim it down to the house you've been waiting for.

Step 4 – Understand the market
My knowledge of the Lexington market is a leading aspect in your home search. I am conscious of all the schools and neighborhoods, and I'll alert you to some neighborhoods are "hot" and warrant immediate action and others that are "cool" and allow for more analysis.

As we tour homes, I'll let you know when the seller's asking price has room for bargaining and also when I know the home is "priced to sell." When working with an agent, be on guard and be sure to ask plenty of questions, as any REALTOR will tell you they understand the home market. If it appears they don't know everything, just call me at 8036655253 or e-mail me at , and I'll be more than happy to answer any questions you have. My market expertise will keep you a step above the rest throughout the entire deal.

Step 5 – Find the home you've been waiting for
We'll find your dream house in the Lexington area, and when we do, I'll meticulously create your purchase offer. The offer will be made to fit your needs and the home. We'll include many contingencies, such as acquiring financing, completing the inspection, and a clean title.

Upon submitting your purchase offer, you'll want to present "earnest money." This is a cash deposit given to a home seller to secure an offer to buy the property, and it's often applied to the closing costs. If your offer is accepted by the seller, we should close on the home about 30 to 60 days after. This allows necessary time for your mortgage financing.

Step 6 – Negotiate the deal
A lot of deals aren't closed on the first offer, and it's extremely common to receive a counter offer. But don't let it intimidate you. We'll discuss whether or not to accept the counter offer, propose our own counter offer, or refuse the seller's offer and move on.

How aggressively we negotiate the deal depends on market circumstances. In addition, we'll work within your financing budget. And at the end of the day, we'll create a contract that is best for you.

Step 7 – Get your loan
After we sign the final sales contract, you'll begin working with your lender to close the loan. If you've been pre-qualified, this won't take long at all, but you need to stay in close contact with your mortgage lender. And I'll care for 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) of your closing costs from your lender within three days of taking your loan application. This estimate depends on the loan amount, and RESPA requirements mandate that it has to involve all closing costs and fall within a precise range of accuracy. I'll review the estimate and let you know if everything looks all right.

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

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 8036655253 or e-mail me at .