Buying or selling a home? Neal Sherk & North Eastern Group Realty can help.
With some planning ahead of time, purchasing a home isn't that complex, but the event can be stressful for many people.
I like to give buyers a road map of the entire deal so they know exactly what they can expect.
Below are my nine steps to purchasing a home.
If you have any questions about any of this information or if you're prepared to get started, just contact me here or e-mail me at .
Step 1 – Get ready to buy a home
There are a lot of things you need to do before you search for a home.
You'll probably want to assemble a check list of features you need to have, get a feel for what school districts you want to live in, and start planning around your budget.
Ensuring your mortgage payment is no more than 30 percent of your net monthly income is a good rule of thumb to go by.
Step 2 – Communicate with a real estate agent in Fort Wayne
This is where Neal Sherk - North Eastern Group Realty can help.
We can set up a time to meet so we can talk about your real estate needs and get an idea of your future plans.
We'll talk about neighborhoods, schools in the Fort Wayne area, the mortgage industry, and any additional economic factors that may affect your buying decision today or in the future.
I can also assist you in getting started on your loan.
Neal Sherk - North Eastern Group Realty partners with some of the best mortgage professionals in Fort Wayne, so you can rest assured that you're in great hands.
They'll help you decide which kind of loan is best for you, as well as help you get qualified.
Step 3 – Start your home search
Following our initial meeting, I'll start searching for available homes on the market that are a good fit for you.
I'll research many of the homes and remove the bad ones, and then we'll set up appointments to tour the homes when it's most convenient for you.
As we tour the homes, I'll identify positive features and bad ones. I'll also ask you to tell us about things you like and dislike.
It's common for buyers to revise their wish list as we view homes and some items become far more necessary than others.
If that happens, I'll look through the listings again and narrow it down to the house you've been waiting for.
Step 4 – Understand the housing market
Your agent's awareness of the Fort Wayne home market is a leading element in your house search. And I assure you I'm informed of all the neighborhoods and school districts, and I can communicate some districts are "hot" and demand prompt action and some that are "cool" and allow for careful examination.
As we view homes, I'll make sure to communicate when the asking price has room for negotiation and also when I think the home is "priced to sell."
Any real estate agent will claim to know the home market, but be wary, and be sure to ask plenty of questions.
If things don't add up, just call me at (260) 341-0714 or e-mail me at , and I'd be happy to answer any questions you have. My market knowledge will keep you a step ahead throughout the entire process.
Step 5 – Find your dream house
We'll find your dream house in Fort Wayne, and when that happens, I'll precisely create your home purchase offer. The offer will be made to suit your needs and the home. We'll include a lot of contingencies, such as getting financing, carrying out the inspection, and a clean title.
When presenting your purchase offer, you'll want to submit "earnest money." This is a cash deposit given to a seller to secure the offer to buy the property. The amount is typically applied to the cost of closing. If your offer is accepted, we should close about 30 to 60 days afterward. This allows plenty of time for your mortgage financing.
Step 6 – Negotiate the deal
A lot of contracts aren't closed on the initial offer – it's widely common to receive a counter offer. But don't let it intimidate you. We'll talk over whether or not to take the counter offer, submit our own counter offer, or reject the seller's offer and move on.
Market circumstances determine how aggressively we negotiate the deal.
In addition, we'll work within your financing constraints. And at the end of the day, we'll create a contract that is best for you.
Step 7 – Get a loan
After we sign the final deal, you'll begin working with your lender to close the loan.
It won't take very long at all if you're already pre-qualified, but you'll want to keep in close contact with your mortgage lender.
And I'll manage all the property information your lender will need to close the loan.
Step 8 – Close the deal
Your lender will supply you with a Loan Estimate (LE) of your closing costs within three days of receiving your application. You'll get a Loan Estimate (LE) of closing costs from your lender within three days of taking your application.
This estimate rests on the loan amount, and RESPA requirements require that it has to contain all closing costs and fall within a precise range of accuracy. I'll study the estimate and let you know if everything looks adequate.
Then we'll close on your house. This will likely take place at a title company or escrow office and will probably be a smooth and calm affair.
Step 9 – Move in
Congratulations! Now you can move into your new home. Enjoy it. And if you have any questions, just contact me at (260) 341-0714 or e-mail me at email@example.com