Contemplating purchasing your home in Fort Worth?
Purchasing a home is stressful for a lot of people. However, with some up-front planning, it isn't very confusing. We like to provide buyers with an overview of the entire deal so they know exactly what they can expect. Below 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 questions you have about this information.
Step 1 – Prepare to buy
Before you begin searching for a home, there are plenty of things you should do. It's likely that you'll want to form an index of must-have features, get a feel for what school districts you want to live in, and begin planning around your budget. Keeping your mortgage payment less than or around 1/3 of your net monthly income is a good rule of thumb to adhere to.
Step 2 – Get in touch with a real estate agent
This is where we can help. We'll book a time to meet so we can talk about why you want to buy a home and get an idea of your future plans. We'll discuss everything from neighborhoods, school districts in the Fort Worth area, the mortgage and housing industries, to any other economic factors that could affect your buying decision today or in the future.
In addition, we'll help you facilitate the loan process. We work with some of the finest mortgage professionals in Fort Worth, so you can rest assured that you're in great hands. They will help you choose which type of loan is best for you, as well as help you get approved.
Step 3 – Start house-hunting
After we meet for the first time, we'll begin searching for houses on the market that best suit you. We'll preview most of the homes and eliminate the bad ones, and then we'll schedule appointments to view the homes when it's convenient for you.
As we view the houses, we'll point out positive features and bad ones. And we'll ask you to tell us about things you like and don't like. As a rule, buyers change their must-have list as we tour houses and some items become more crucial than others. If such is the case, we'll look through the listings again and narrow it down to the home you've been wishing for.
Step 4 – Understand the market
An agent's understanding of the Fort Worth home market is a fundamental aspect in your house search. And we assure you we're well acquainted with all the school districts and neighborhoods, and we will alert you to what areas are "hot" and call for immediate action and the rest that are "cool" and allow for more examination.
When we tour homes, we'll make sure to communicate if the seller's list price has room for negotiation or if I believe the home is "priced to sell." Every real estate agent in Fort Worth will claim to understand the home market, but take notice, and be sure to ask your agent lots of questions. If it doesn't seem like they know everything, call us at (817) 233-4092 or e-mail us at email@example.com, and we'd be more than happy to answer any questions you have. Our understanding of the market will keep you a step ahead through the entire deal.
Step 5 – Find your dream house
We're certain we'll find your dream home in Fort Worth, and when we do, we'll precisely develop your purchase offer. The offer will be made to suit your needs. Whenever necessary, We never forget to make contracts contingent upon items like obtaining financing and the results of the home inspection.
Upon sending in your purchase offer, most likely you'll want to submit "earnest money." This is a cash deposit submitted to the home seller to secure an offer to buy the property and is often applied to the cost of closing. If your offer is accepted, we should close within 30 to 60 days after. This allows plenty of time for your mortgage financing.
Step 6 – Negotiate the deal
Most deals aren't closed on the first offer – it's pretty common to receive a counter offer. Don't let it discourage you. We'll talk over whether or not to consent to the counter offer, present our own counter offer, or refuse the seller's offer and move on.
The state of the market determines how aggressively we negotiate the contract. We'll also work within your financing constraints. And when it's all said and done, we'll compose a deal that is best for you.
Step 7 – Secure a loan
Once we sign the final contract, you'll start working with your mortgage lender to close the loan. If you've been pre-qualified, it shouldn't be a long process at all, but you'll need to stay in close contact with your mortgage lender. And we'll look after all the property information your lender needs to close the loan.>
Step 8 – Close the deal
You'll get a Good Faith Estimate (GFE) detailing your closing costs from your lender within three days of getting your loan application. The estimate is based on the loan amount, and RESPA requirements order that it has to include all closing costs and fall within a strict range of accuracy. we'll examine the estimate and let you know if everything looks adequate.
Then we'll close on your house. This will most likely happen at a title company or escrow office and will most likely be a smooth and easygoing occasion.
Step 9 – Move in
Congratulations! It's time to move into your new home. Enjoy it. And if you need anything, simply call us at (817) 233-4092 or send us an e-mail.