Looking to purchase your home in Olympia? Cherie Allen, Riley Jackson Real Estate can help.
Purchasing a home intimidates many people, but it isn't too confusing with some up-front planning.
I like to furnish buyers with an outline of the entire deal so they'll understand exactly what they can expect.
Below are my nine steps to purchasing a home.
When you're ready to get started, simply contact me here or e-mail me at . I'm glad to answer any questions you have about this information.
Step 1 – Prepare to purchase a home
There are many things you'll want to do before beginning your home search.
You'll probably want to assemble a list of features you need, plan for what neighborhoods you want to live in, and begin planning your budget.
Keeping your mortgage payment less than or around 1/3 of your net monthly income is a good rule of thumb to go by.
Step 2 – Connect with a real estate agent in Olympia
This is where Cherie Allen, Riley Jackson Real Estate can help.
I'd be more than happy to plan a time to meet with you and communicate with you about why you want to buy a home and get an idea of your plans for the future.
We'll discuss neighborhoods, school districts in the Olympia area, the mortgage and housing industries, and any additional economic factors that may potentially affect your buying decision today or in the future.
In addition, I'll help you get started on your loan.
I work with some of Olympia's best 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 qualified.
Step 3 – Start house hunting
After our first meeting, I'll begin looking for houses on the market that meet your needs.
I'll get a sneak peek of most of the homes and reject the duds, and then we'll book appointments to tour the homes whenever it's most convenient for you.
When we tour houses, I'll point out good features and negative ones. And I'll ask you what things you like and don't like.
It's common for buyers to amend their wish list as we view homes and some features become far more substantial than others.
If that happens, I'll search the listings once more and narrow it down to the house of your dreams.
Step 4 – Comprehend the housing market
My awareness of the Olympia home market is a fundamental component in your home search. I am informed of all the school districts and neighborhoods, and I'll alert you to which districts are "hot" and require immediate action and the ones that are "cold" and allow for careful examination.
When we tour houses, I'll make sure to communicate if the seller's asking price has room for bargaining or if I believe the house is "priced to sell."
When working with an agent, be on guard and be sure to ask a lot of questions, as any REALTOR will claim to know the housing market.
If it seems like they don't know everything, just call me at 3605528001 or e-mail me at , and I'd be glad to answer any questions you may have. My market expertise will keep you a step ahead through the entire process.
Step 5 – Find the house you've been looking for
We'll find your dream home in Olympia, and when we do, I'll carefully develop your purchase offer. The offer will be tailored to suit your needs and the home, including some contingencies. A few examples are getting financing, completing the inspection, and a clear title.
When we present your purchase offer, you'll likely want to submit "earnest money." This is a cash deposit given to a home seller to secure an offer to buy the property and is typically applied to the cost of closing. If the seller accepts your offer, we should close on the property within 30 to 60 days afterward. This allows ample time for your mortgage financing.
Step 6 – Negotiate the deal
A lot of deals aren't closed on the first offer, and it's widely common to receive a counter offer. Don't let it alarm you. We'll consider whether or not to agree to the counter offer, propose our own counter offer, or refuse the seller's offer and go on.
How aggressively we negotiate the deal depends on the state of the market.
We'll also work within your financing limits. And when it's all said and done, we'll put together a deal that works well for you.
Step 7 – Get a loan
Once the deal is finished, you'll start working with your mortgage lender to close the loan.
If you're already pre-approved, it shouldn't take long at all, but you need to stay in close contact with your lender.
And I'll look after all the property information your mortgage lender needs to close the loan.
Step 8 – Close the deal
Your mortgage lender will provide you with a Loan Estimate (LE) outlining closing costs within three days of getting your application. You'll get a Loan Estimate (LE) of your closing costs from your lender within three days of getting your loan application.
The estimate is based on the loan amount. RESPA requirements order that it has to include all closing costs and fall within a precise range of accuracy, and I'll study the estimate and let you know if it all looks permissible.
Then it's time to close on your house. This will most often occur at a title company or escrow office and should be a smooth and easygoing event.
Step 9 – Move in
Congratulations! It's time to move into your new house. Enjoy it. And if you need anything or have any questions, make sure you contact me at 3605528001 or e-mail me at .