Buying a home in Surprise
With some up-front planning, buying a home isn't very complex, but it still intimidates a lot of people.
We like to provide buyers with an overview of the entire deal so they know exactly what they can expect.
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 glad to answer questions you have regarding this information.
Step 1 – Get ready to buy
Before you begin your home search, there are many things you should consider.
You'll probably want to form an outline of must-have features, get a plan of what neighborhoods you want to live in, and start planning around your budget.
Keeping your mortgage payment less than or close to 30 percent of your monthly income is a good principle to go by.
Step 2 – Contact a real estate agent
This is where West Valley Living LLC can help.
We'd love to set up a time to meet with you and communicate with you regarding your real estate needs and get an idea of your upcoming plans.
We'll talk about the mortgage and housing industries, other economic factors that could affect your purchase today or in the future, as well as neighborhoods and schools in the Surprise area.
We can also assist you with getting started on your loan.
We partner with some of the best mortgage professionals in Surprise, so you're in great hands.
They will assist you with deciding which type of loan is best for you and help you get approved.
Step 3 – Begin your search
Following our first meeting, we'll begin looking for homes on the market that are a great fit for you.
We'll research most of the houses and reject the duds, and then we'll set up appointments to tour the homes whenever it's most convenient for you.
As we view the houses, we'll identify good features, as well as negative ones. And we'll ask you about things you like and don't like.
Oftentimes, buyers amend their list of must-haves as we tour houses and some items become far more important than others.
If that's the case, we'll search all the listings once more and trim it down to the home you've been dreaming about.
Step 4 – Know the housing market
Our understanding of the Surprise market is a crucial resource in your search. We're informed of all the schools and neighborhoods, and we will alert you to which areas are "hot" and require immediate action and the others that are "cool" and allow for thoughtful analysis.
As we tour homes, we'll be sure to tell you if the asking price has room for bargaining or if we believe the house is "priced to sell."
When working with an agent, be careful and be sure to ask a lot of questions. Every REALTOR® in Surprise will convince you they understand the home market.
If it appears they don't know everything, call us at 623-792-8265 or e-mail us at firstname.lastname@example.org, and we'll be 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 your dream house
We're positive we'll find the home of your dreams in Surprise, and when that happens, we'll thoroughly create your home purchase offer. The offer will be made to suit your needs. Whenever necessary, We never forget to make contracts contingent upon items like your ability to secure financing and the results of the home inspection.
When sending in your purchase offer, most likely you'll want to submit "earnest money." This is a cash deposit given to the seller to secure the offer to buy the property. The amount is most often put towards the closing costs. If your offer is accepted by the seller, we should close on the home about 30 to 60 days afterward. This allows enough time for your mortgage financing.
Step 6 – Negotiate
Unfortunately most contracts don't close on the first offer, and it's widely common to receive a counter offer. But don't let this discourage you. We'll figure out whether or not to take the counter offer, propose our own counter offer, or reject the seller's offer and move on.
How aggressively we negotiate the deal depends on market circumstances.
In addition, we'll work within your budget. And at the end of the day, we'll formulate a deal that's best for you.
Step 7 – Obtain financing
Once we sign the final deal, you'll start working with your mortgage lender to close the loan.
If you're pre-approved, this won't take much time at all. But you need to keep in close contact with your lender.
And we'll sort out all the property information your lender needs to close the loan.>
Step 8 – Close the deal
Your lender will provide you with a Good Faith Estimate (GFE) of closing costs within three days of taking your loan application.
This estimate is formed from the loan amount. RESPA requirements mandate that it has to involve all closing costs and fall within a strict range of accuracy, and we'll study the estimate and let you know if it all looks permissible.
Then we'll close on your home. This will most often take place at a title company or escrow office and is often a smooth and pleasant occurrence.
Step 9 – Move in
You made it! It's time to move into your new house. Enjoy it. And if you need anything or have any questions, make sure you contact us at 623-792-8265 or send us an e-mail.