Let Neal Sherk-North Eastern Group Realty assist you with purchasing your new home in Fort Wayne
Buying a home is an intimidating event for most people, but it's not too complex with some planning ahead of time.
I like to provide buyers with an outline of the whole deal so they'll know exactly what they can expect.
Here are my nine steps to buying a home.
When you're ready to get started, you can contact me here or e-mail me at . I'm happy to answer questions you have about this information.
Step 1 – Get ready to purchase a home
There are plenty of things you should consider prior to commencing your home search.
You'll want to make an outline of items you need to have, get a plan of what school districts and neighborhoods you'd like to live in, and begin working on your budget.
Keeping your mortgage payment less than 30 percent of your net monthly income is a good rule to adhere to.
Step 2 – Connect with a real estate agent in Fort Wayne
This is where Neal Sherk-North Eastern Group Realty comes in.
I'd love to set up a time to get together with you and talk about why you want to buy a home and get an idea of your upcoming plans.
We'll discuss neighborhoods, schools in the Fort Wayne area, the mortgage industry, and any other economic factors that may potentially affect your buying decision today or in the future.
In addition, I'll assist you in getting started on your loan.
Neal Sherk-North Eastern Group Realty works with some of the finest mortgage professionals in Fort Wayne, so you're in great hands.
They'll assist you in determining which type of loan is best for you and help you get qualified.
Step 3 – Start looking for a home
After our initial meeting, I'll start finding houses on the market that suit your needs.
I'll get a sneak peek of many of the homes and throw out the duds, and then we'll set up appointments to tour the homes whenever it's convenient for you.
As we tour houses, I'll call attention to positive features and negative ones. I'll also ask you to talk about things you like and don't like.
Oftentimes, buyers revise their must-have list as we tour homes and some features become more essential than others.
If such is the case, I'll search the listings again and trim it down to the house you've been waiting for.
Step 4 – Understand the market
My understanding of the Fort Wayne home market is an essential element in your house search. I'm mindful of all the neighborhoods and schools, and I can let you know which areas are "hot" and warrant prompt action and some that are "cold" and allow for thoughtful examination.
When we view houses, I'll make sure to communicate if the asking price has room for negotiation or if I believe the house is "priced to sell."
Every real estate agent will claim to understand the housing market, but be wary, and make sure you ask your agent lots of questions.
If things don't add up, contact me at (260)341-0714 or e-mail me at , and I'd be happy to answer any questions you might have. My knowledge of the market will help you stay a step above the rest through the entire deal.
Step 5 – Find the house you've been looking for
I'm certain we'll find the house of your dreams in Fort Wayne. When that happens, I'll carefully develop your real estate purchase offer. The offer will be tailored with your needs in mind and the home, including many contingencies. A few examples are acquiring financing, completing the home inspection, and a clear title.
When we submit your offer, you'll need to present "earnest money." This is a cash deposit given to a home seller to secure the offer to purchase the property. The amount is often applied to the closing costs. If the seller accepts the offer, we should close about 30 to 60 days after. This allows ample time for your mortgage financing.
Step 6 – Negotiate
A lot of deals don't close on the beginning offer. It's really common to receive a counter offer. Don't let it alarm you. We'll talk about whether or not to agree to the counter offer, propose our own counter offer, or reject the seller's offer and go on.
Market conditions determine how aggressively we negotiate the contract.
In addition, we'll work within your financing constraints. And at the end of the day, we'll compose a deal that's best for you.
Step 7 – Secure your loan
After the deal is finished, you'll begin working with your 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 lender.
And I'll manage all the property information your mortgage lender needs to close the loan.
Step 8 – Close the deal
Your lender will furnish you with a Loan Estimate (LE) outlining closing costs within three days of taking your application. You'll get a Loan Estimate (LE) detailing your closing costs from your mortgage lender within three days of getting your loan application.
The estimate depends on the loan amount, and RESPA requirements mandate that it has to involve all closing costs and be within a tight range of accuracy. I'll study the estimate and let you know if it all looks good.
Then we'll close on your home. This should occur at a title company or escrow office and will probably be a smooth and stress-free occurrence.
Step 9 – Move in
Congratulations! It's time to move into your new home. Enjoy it. And if you need anything or have any questions, make sure you call me at (260)341-0714 or e-mail me at .