Buying a home is stressful for many people. However, with a little planning ahead of time, it's not very difficult. I like to give buyers with an overview of the entire deal so they'll understand exactly what they can expect. Below are the nine steps to purchasing a home.
||If you have questions regarding any of this information or if you're prepared to get started, just contact me here, e-mail me at firstname.lastname@example.org or call/text me 203-417-0523.
Step 1 – Do your research
There's a lot of information that you want to decide on when your are looking to purchase a home in the Danbury,CT area. You should figure out how much you can afford as well as what neighborhood best fits your needs. Also, you should put together a list of things that you would need,want, would like to have or don't want in your new home.
Step 2 – Find a local professional full-time real estate agent:
This is my job. We will get together at your convenience to discuss your purchase requirements & time frame. We'll go over information including neighborhoods, commuting options, subdivisions, area amenities,the market trends & more. I will also explain the home buying process to you. I will also provide recommendations of reputable & experienced local mortgage professionals that I have worked with in the past in the Danbury,CT area. They help help you determine what price range you should be looking in, help you figure out what type of loan best suites your needs & get you preapproved.
Step 3 – Start house hunting
After we get together, I will start looking for properties for you that are on the market. I will email listings to you as well as set you up on a program that will automatically search for you & give you daily emails with new listings, price changes & status changes so you know what is going on.I also check the inventory report several times a day on the MLS, and if I see a home that looks like a good fit, I will point it out for you on the program. I will try to preview as many homes as possible to see which homes might work for you or not. We will then set an appointment to look at homes when it is good for you.
When we look at homes, I will not only go over the positive aspects about the home, I will also mention things that I see that could be a negative feature. I will also ask several questions about how you feel or thoughts are about the properties. There is never any pressure or being pushed toward a home that you are not completly sure about. It would be no problem to revisit properties you are having second thoughts.
Step 4 – Research Market Trends:
It is my job to study the Danbury real estate market. I know which areas & price ranges have the most activity or take a little bit longer to sell. I review sales activity & homes that taken deposits several times a day.
When we look at homes, I will make sure to tell you if the owner's list price makes sense or not based on recent sales.You need to trust me, since I do this full time and you can certainly go ahead & pick my brain. You can get in touch with me directly at 203-417-0523 or e-mail me at email@example.com and I'd be glad to answer your questions. The information that I know about the real estate market in Danbury will prove vital to help you get your new home.
Step 5 – Write Up An Offer
When we find your dream home, we will get together to write up an offer. The offer information such as the price, how much money you will be putting down, items you want included in the sale, and how soon you would like to close after an offer is accepted. I also include on the offer that it is conditional for buyers to secure financing & have a home inspection.
When we send in your offer, I will need a check for earnest money. That is typically 1% of the purchase price in the Danbury area. This money goes toward your purchase price & once contracts are signed after the offer is accepted and the home goes through inspections, it gets sent over to the sellers attorney. Also with an offer, buyers typically get the property disclosure forms from the sellers which talk about how much the seller knows about the main systems of the house (roof,furnace, etc) to the best of their knowledge. If you offer is accepted, we typically close between 45 to 60 days which should be enough time to obtain financing. I also have the systems available for you to sign electronically.
Step 6 – Negotiate
More often than not, if your offer price & terms are reasonable, there is usually a counter offer from the sellers. We can talk about the counter offer, either take it, decline it or go back to the sellers with another counter.
The market determines how we work with the negotiations. Most homes in the Danbury area if the asking price is fair are selling between 95-98% of the listing price. I have also seen several well priced homes get multiple offers, which results in the home usually end up selling for higher than the listing price. We will work together to stick within your budget. Not only does the offer have to be acceptable to you, it also has to be acceptable to the sellers & vice versa.
Step 7 – Building Inspection & Contracts
Once we get the offer accepted & signed by both parties with the correct figures and dates, we then go ahead and set up the building inspection. I will provide contact information for local inspections for you to interview. When you decide on one, set up an appointment with them, which is usually about two days later. I will be the house with you and the inspector. Once we get the inspection report back, we will get together and decide if there are any issues that you want the seller to fix, give a credit for or get the asking price changed to reflect the condition. If there are a lot of major issues, you can always walk away and get your earnest deposit back.
Once we get the inspection items negotiated ,the sellers attorney writes up the contract and sends it over to your real estate attorney. I will be happy to provide real estate attorney recommendations. Your attorney looks over the contracts & suggests any changes and has you meet with them to review. If they look ok to you, they get sent back to the sellers attorney for the seller to sign if they are ok with any changes. If not, the items get worked out.
Step 8 –Secure Financing
Once you get your offer accepted, notify your lender. They will ask for a lot of financial documents from you including bank statements, tax returns,proof of employment and more. I will provide your lender with all the information that they need about the house to close to the loan.They will then order the home to be appraised. I will follow up consistently with your lender and pass on that information to your real estate attorney as well the sellers agent so everybody knows what is going on. Once you get the clear to close from your lender, the attorneys go ahead and set up the closing.
We do a walk through of the home the morning of or the evening before the closing. We make sure the home is left in good condition, make sure the systems work, and see that the sellers left, repaired and did everything on their end of the contract. Closing typically happen at the sellers attorney office and is often a smooth & relaxed event..
Step 9 – Move in
Success! Now you can move into your new home. Enjoy it. And if you need anything, be sure to call me at 203-417-0523 or send me an e-mail.
Page last updated 11/8/2016