Buying or selling a home? Qmetro Realtors Inc can help.
With some up-front planning, purchasing a home isn't too hard, but the event is intimidating for many people.
So they know exactly what they can expect, I like to furnish buyers with an outline of the whole deal.
Below are my nine steps to buying a home.
Should 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
There are many things you'll want to contemplate before you look for a home.
You'll probably want to make a checklist of must-haves, get an idea of what school districts and neighborhoods you'd like to live in, and begin planning your budget.
A good rule of thumb to go by is that your mortgage payment should be around 1/3 of your monthly income.
Step 2 – Communicate with a real estate agent
That's where I can help.
I'd be more than happy to set up a time to meet with you and communicate with you about why you want to buy a home and get an idea of your future plans.
We'll talk about the mortgage industry, other economic factors that could affect your purchase today or in the future, as well as neighborhoods and school districts in the Albuquerque area.
In addition, I'll help you start the loan process.
Qmetro Realtors Inc partners with some of the best mortgage professionals in Albuquerque, so you'll be in great hands.
They will assist you in choosing which type of loan is best for you and help you get qualified.
Step 3 – Start looking for a house
Following our first meeting, I'll start looking for houses on the market that are a great fit for you.
I'll preview most of the homes and remove the bad ones, and then we'll schedule appointments to view the houses when it's convenient for you.
When we view houses, I'll point out good features and negative ones. I'll even ask you what things you like and dislike.
Usually, buyers revise their list of must-haves as we tour homes and some things become more essential than others.
If such is the case, I'll go back through the listings again and trim it down to the house you've been waiting for.
Step 4 – Get a grasp of the housing market
An agent's awareness of the Albuquerque housing market is a fundamental component in your home search. And I can assure you I'm acquainted with all the schools and neighborhoods, and I can alert you to certain areas are "hot" and warrant immediate action and the ones that are "cold" and allow for more consideration.
As we view houses, I'll make sure to communicate when the asking price has room for negotiation and when I think the home is "priced to sell."
When working with an agent, trust your instincts and make sure you ask plenty of questions, as any real estate agent in Albuquerque will claim to truly understand the housing market.
If it doesn't seem like they know everything, call me at 505.615.0436 or e-mail me at , and I'd be more than happy to answer any questions you may have. My market knowledge will help you stay a step ahead through the entire process.
Step 5 – Find the house you've been looking for
I'm confident we'll find your dream house in Albuquerque. When that happens, I'll thoroughly develop your real estate purchase offer. The offer will be made to fit your needs and the home. We'll include many contingencies, such as acquiring financing, carrying out the inspection, and a clear title.
Upon turning in your offer, you'll probably need to present "earnest money." This is a cash deposit submitted to a home seller to secure the offer to buy the property. The amount is most often applied to the cost of closing. If the seller accepts your offer, we should close about 30 to 60 days after. This allows sufficient time for your mortgage financing.
Step 6 – Negotiate
Unfortunately most contracts don't close on the beginning offer. It's extremely common to receive a counter offer. But don't let it discourage you. We'll discuss whether or not to agree to the counter offer, propose our own counter offer, or decline the seller's offer and move on.
How aggressively we negotiate the contract depends on market conditions.
We'll also work within your financing budget. And when it's all said and done, we'll assemble a deal that's best for you.
Step 7 – Secure financing
After we sign the final contract, you'll start working with your lender to close the loan.
If you're pre-approved, it shouldn't be a long process at all. But you'll want to stay in close contact with your lender.
And I'll take care of all the property information your lender needs to close the loan.
Step 8 – Close the deal
Your mortgage lender will furnish you with a Loan Estimate (LE) detailing your closing costs within three days of getting your application. You'll get a Loan Estimate (LE) detailing closing costs from your lender within three days of accepting your loan application.
This estimate depends on the loan amount. RESPA requirements require that it has to contain all closing costs and fall within a close range of accuracy, and I'll go over the estimate and let you know if everything looks good.
Then we'll close on your house. This should happen at a title company or escrow office and will probably be a smooth and hassle-free occurrence.
Step 9 – Move in
Congratulations! Now you can move into your new home. Enjoy it. And if you need anything, make sure you call me at 505.615.0436 or e-mail me at .