Buying your home in Louisville
For many people, buying a home is a stressful event. But with a little planning ahead of time, it isn't all that confusing.
So you understand exactly what to expect, I like to supply my buyers with an overview of the whole deal.
These are my nine steps to buying a home.
Should you have any questions regarding this information or if you're prepared to get started, simply contact me here or send e-mail to email@example.com
Step 1 – Prepare to purchase a home
There are a lot of things you'll want to consider before you start looking for a home.
It's likely that you'll want to assemble an outline of items you need, get a feeling for what school districts you want to live in, and begin planning your budget.
A good rule to follow is that your mortgage payment should be close to 1/3 of your monthly income.
Step 2 – Contact a real estate agent
This is where I can help.
I'll book a time to meet so we can talk about your real estate needs and get an idea of your upcoming plans.
We'll discuss neighborhoods, school districts in the Louisville area, the mortgage and housing industries, and any other economic factors that may affect your purchase today or in the future.
I'll also help you begin the loan process.
Chris Coury Realtors Inc partners with some of Louisville's best mortgage professionals, so you're in great hands.
They'll help you decide which type of loan is best for you, as well as help you get qualified.
Step 3 – Start house hunting
After we meet for the first time, I'll start searching for available homes on the market that suit your needs.
I'll preview many of the homes and throw out the duds, and then we'll schedule appointments to tour the houses at a time that's convenient for you.
When we tour homes, I'll point out good features, as well as bad ones. And I'll ask you to talk about things you like and dislike.
It's pretty common for buyers to update their must-have list as we tour houses and some items become far more substantial than others.
If that's the case, I'll look through the listings once again and trim it down to the house of your dreams.
Step 4 – Get a grasp of the market
My knowledge of the Louisville home market is a necessary benefit in your search. I am mindful of all the schools and neighborhoods, and I'll let you know certain districts are "hot" and require prompt action and the ones that are "cold" and allow for thoughtful examination.
As we tour homes, I'll make sure to communicate when the seller's asking price has room for bargaining and also when I know the house is "priced to sell."
When working with an agent, be careful and be sure to ask lots of questions, as any REALTOR® will convince you they truly know the market.
If things don't add up, just call me at 502-552-6545 or e-mail me at firstname.lastname@example.org, and I'll be happy to answer any questions you might have. My market knowledge will help you stay a step above the rest throughout the entire deal.
Step 5 – Find the house you've been waiting for
I'm certain we'll find your dream house in the Louisville area, and when we do, I'll carefully develop your purchase offer. The offer will be written exactly to your needs. Whenever necessary, I never forget to make contracts contingent upon items like acquiring financing and the results of the home inspection.
Upon submitting your purchase offer, you'll need to present "earnest money." This is a cash deposit made to a home seller to secure an offer to purchase the property, and it's most often put towards the cost of closing. If the offer is accepted by the seller, 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
Most contracts aren't closed on the initial offer – it's pretty common to receive a counter offer. Don't let it intimidate you. We'll talk over whether or not to accept the counter offer, present our own counter offer, or decline the seller's offer and go on.
How aggressively we negotiate the contract depends on the state of the market.
We'll also work within your budget. And when it's all said and done, we'll compose a contract that works well for you.
Step 7 – Obtain your loan
Once we sign the final contract, you'll start working with your mortgage lender to close the loan.
This won't be a long process at all if you're pre-approved, but you should to keep in close contact with your mortgage lender.
And I'll manage all the property information your mortgage lender will need to close the loan.>
You'll get a Good Faith Estimate (GFE) of your closing costs from your lender within three days of taking your application.
The estimate is based on the loan amount, and RESPA requirements mandate that it has to include all closing costs and fall within a strict range of accuracy. I'll examine the estimate and let you know if everything looks permissible.
Then we'll close on your home. This should happen at a title company or escrow office and will most likely be a smooth and relaxing occurrence.
Step 9 – Move in
Success! It's time to move into your new house. Enjoy it. And if you need anything, simply contact me at 502-552-6545 or send me an e-mail.