Buying or selling a home in Grants Pass? Realty Executives So. Oregon can help.
Buying a home is stressful for a lot of people, but with some planning ahead of time, it's not very complex. So you know exactly what to expect, we like to give our buyers a road map of the whole deal. These are our nine steps to purchasing a home.
When you're ready to get started, just contact us here or send us e-mail
. We're happy to address any questions you have regarding this information.
Step 1 – Get ready to purchase
There are a lot of things you should consider before commencing your home search. When you begin your search, you'll probably want to make a check list of items you need, get a plan of what school districts you want to live in, and start working on your budget. Keeping your mortgage payment less than 1/3 of your monthly income is a good rule of thumb to adhere to.
Step 2 – Contact a real estate agent
This is where Realty Executives So. Oregon comes in. We can book a time to get together so we can talk about why you want to buy a home and get an idea of your plans for the future. We'll discuss neighborhoods, schools in the Grants Pass area, the mortgage and housing industries, and any additional economic factors that might affect your purchase today or in the future.
In addition, we'll help you begin the loan process. We work with some of the best mortgage professionals in Grants Pass, so you can rest assured that you're in great hands. They'll help you choose which kind of loan is best for you, as well as help you get qualified.
Step 3 – Start house hunting
After our initial meeting, we'll begin looking for homes on the market that are a great fit for you. We'll preview many of the homes and exclude the bad ones, and then we'll schedule appointments to view the homes whenever it's most convenient for you.
As we view homes, we'll show you the good features, as well as bad ones. And we'll ask you to point out what things you like and don't like. It's widely common for buyers to update their wish list as we tour homes and some features become more substantial than others. If that happens, we'll search all the listings another time and trim it down to the house of your dreams.
Step 4 – Get a feel for the market
Your agent's awareness of the Grants Pass home market is a fundamental aspect in your home search. And we can assure you we're well acquainted with all the school districts and neighborhoods, and we'll communicate some districts are "hot" and call for prompt action and the others that are "cool" and allow for careful examination.
When we tour homes, we'll be sure to tell you if the list price has room for negotiation or if we believe the house is "priced to sell." When working with an agent, be careful and make sure you ask a lot of questions, as any REALTOR® will tell you they know the home market. If it appears they don't know everything, just call us at (541) 494-3932 or e-mail us at email@example.com, and we'd be more than happy to answer any questions you might have. Our understanding of the market will help you stay a step above the rest throughout the entire deal.
Step 5 – Find the home of your dreams
We're sure we'll find your dream house in the Grants Pass area, and when we do, we'll carefully develop your real estate purchase offer. The offer will be tailored to suit your needs. Whenever necessary, We never forget to make contracts contingent upon items like acquiring financing and the results of the home inspection.
Upon presenting your offer, you'll need to present "earnest money." This is a cash deposit given to a 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, we should close on the property about 30 to 60 days after. This allows ample time for your mortgage financing.
Step 6 – Negotiate
Unfortunately most contracts aren't closed on the beginning offer. It's widely common to receive a counter offer. Don't let this 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 go on.
How aggressively we negotiate the contract depends on market circumstances. We'll also work within your financing limits. And at the end of the day, we'll assemble a deal that works well for you.
Step 7 – Secure your loan
Once we sign the final contract, you'll start working with your mortgage lender to close the loan. If you've been pre-approved, it shouldn't take long at all, but you'll need to keep in close contact with your mortgage lender. And we'll look after all the property information your lender will need to close the loan.>
Step 8 – Close the deal
Your lender will provide you with a Good Faith Estimate (GFE) outlining closing costs within three days of taking your loan application. The estimate rests on the loan amount. RESPA requirements dictate that it has to involve all closing costs and be within a precise range of accuracy, and we'll analyze the estimate and let you know if everything looks good.
Then it's time to close on your house. This will most often happen at a title company or escrow office and will probably be a smooth and comfortable occurrence.
Step 9 – Move in
Congratulations! It's time to move into your new home. Enjoy it. And if you need anything or have any questions, simply contact us at (541) 494-3932 or send us an e-mail.