Are you contemplating purchasing your new home in Lawton?
Buying a home is an intimidating event for most people, but it's not that complex with some planning ahead of time.
I like to give buyers a road map of the entire deal so they understand exactly what to expect.
These are my nine steps to buying a home.
When you're ready to get started, just contact me here or e-mail me at . I'm glad to address any questions you have regarding this information.
Step 1 – Get ready to purchase
There are several things you should consider prior to commencing your home search.
You'll want to make a check list 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.
A good guideline to follow is that your mortgage payment should be close to a third of your net monthly income.
Step 2 – Talk to a real estate agent in Lawton
This is where I can help.
We can arrange a time to get together so we can talk about why you want to buy a home and get an idea of your future plans.
We'll talk about everything from neighborhoods, school districts in the Lawton area, the mortgage industry, to any other economic factors that may potentially affect your purchase today or in the future.
I can also help you facilitate the loan process.
I partner with some of Lawton's best mortgage professionals, so you're in great hands.
They'll assist you with figuring out which type of loan is best for you and help you get approved.
Step 3 – Start looking for a house
After we meet for the first time, I'll start finding available homes on the market that best suit you.
I'll get a sneak peek of many of the houses and remove the bad ones, and then we'll schedule appointments to view the houses when it's convenient for you.
When we tour houses, I'll call attention to positive features and negative ones. I'll also ask you to tell us about things you like and dislike.
Most often, buyers update their wish list as we view homes and some items become more crucial than others.
If that's the case, I'll look through all the listings one more time and trim it down to the house you've been waiting for.
Step 4 – Comprehend the housing market
My understanding of the Lawton home market is an imperative component in your house search. I am acquainted with all the school districts and neighborhoods, and I will alert you to what neighborhoods are "hot" and demand prompt action and some that are "cool" and allow for more analysis.
When we tour homes, I'll make sure to communicate when the seller's list price has room for bargaining and when I trust the house is "priced to sell."
Trust your instincts and be sure to ask your agent plenty of questions, as any REALTOR will claim to truly understand the housing market.
If things don't add up, just call me at 580.248.8817 or e-mail me at , and I'd be more than happy to answer any questions you might have. My knowledge of the market will keep you a step above the rest throughout the entire deal.
Step 5 – Find the home of your dreams
We'll find your dream home in Lawton, and when that happens, I'll carefully develop 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 acquiring financing, finishing the inspection, and a clear title.
Upon sending in your offer, most likely you'll want to submit "earnest money." This is a cash deposit given to the seller to secure the offer to purchase the property. The amount is typically put towards the cost of closing. If the offer is accepted by the seller, we should close within 30 to 60 days afterward. This allows enough time for your mortgage financing.
Step 6 – Negotiate
Most contracts don't close on the beginning offer, and it's pretty common to receive a counter offer. But don't let it alarm you. We'll talk over whether or not to agree to the counter offer, present our own counter offer, or refuse the seller's offer and go on.
How aggressively we negotiate the deal depends on market circumstances.
In addition, we'll work within your financing limits. And at the end of the day, we'll compose a contract that's best for you.
Step 7 – Get financing
Once the deal is complete, you'll begin working with your lender to close the loan.
If you're already pre-approved, this won't be a long process at all. However, you'll need to stay in close contact with your lender.
And I'll care for all the property information your mortgage lender will need to close the loan.
Step 8 – Close the deal
Your mortgage lender will send you a Loan Estimate (LE) of your closing costs within three days of accepting your loan application. You'll get a Loan Estimate (LE) detailing your closing costs from your lender within three days of accepting your loan application.
The estimate depends on the loan amount. RESPA requirements mandate that it has to involve all closing costs and fall within a narrow range of accuracy, and I'll examine the estimate and let you know if it all looks okay.
Then we'll close on your house. This should happen at a title company or escrow office and will most often be a smooth and calm occurrence.
Step 9 – Move in
Congratulations! Now you can move into your new house. Enjoy it. And if you need anything or have any questions, be sure to contact me at 580.248.8817 or e-mail me at .