Contemplating buying a home in our area?
Purchasing a home is intimidating for many people. However, with a bit of planning ahead of time, it isn't that complicated. I like to provide buyers with an outline of the entire deal so they know exactly what they can expect. Below are my nine steps to buying a home. Should you have any questions about any of this information or if you are ready to get started, just contact me here or e-mail me at.
Step 1 – Prepare to purchase a home
There are a lot of things you'll want to contemplate before you look for a home. When you begin your search, you will probably want to create a check list of features you want to have, plan for what school districts you want to live in and start working on your budget. Ensuring your mortgage payment is less than or around a third of your monthly income is a good rule of thumb to follow.
Step 2 – Contact a real estate agent from Peacock Premier Properties
This is where I can help. We can book a time to meet so we can talk about why you want to buy a home and get an idea of your plans. We'll discuss everything from neighborhoods, schools in the Port Charlotte area, the mortgage and housing industries, to any other economic factors that may potentially affect your buying decision today or in the future.
I'll also help you get started on your loan. I partner with some of our area’s finest mortgage professionals, so you'll be in great hands. They'll help you determine which kind of loan is best for you, as well as help you get approved.
Step 3 – Begin looking for a home
After we meet for the first time, I'll start looking for available houses on the market that are a good fit for you. I'll research many of the houses and exclude the duds, and then we'll set up appointments to view the houses whenever it's convenient for you.
When we view houses, I'll call attention to good features, as well as negative ones. I'll also ask you what things you like and dislike. As a rule, buyers update their list of must-haves as we tour houses and some features become far more essential than others. If such is the case, I'll look through the listings once more and narrow it down to the home you've been waiting for.
Step 4 – Understand the housing market
My awareness of the area housing market is a fundamental element in your home search. I am informed of all the school districts and neighborhoods, and I will communicate what areas are "hot" and call for prompt action and others that are "cold" and allow for more consideration.
As we tour houses, I'll be sure to tell you if the seller's list price has room for bargaining or if I believe the house is "priced to sell." When working with an agent, be on guard and be sure to ask lots of questions. Every real estate agent will claim to truly know the market. If it seems like they don't know everything, call me at 941-286-8486 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 help you stay a step ahead through the entire process.
Step 5 – Find your dream home
I'm sure we'll find your dream house in our area. When that happens, I'll carefully create your home purchase offer. The offer will be tailored to suit your needs and the home, including a lot of contingencies, such as acquiring financing, completing the inspection, and a clean title.
When sending in your purchase offer, you'll need to present "earnest money." This is a cash deposit made to the home seller to secure the offer to buy the property, and it's often applied to the cost of closing. If your offer is accepted by the seller, we should close on the home about 30 to 60 days after. This allows enough time for your mortgage financing.
Step 6 – Negotiate the deal
A lot of contracts are not closed on the beginning offer, and it's pretty common to receive a counteroffer. But don't let this discourage you. We'll talk over whether or not to agree to the counteroffer, propose our own counteroffer, or refuse the seller's offer and go on.
How aggressively we negotiate the deal depends on market circumstances. We'll also work within your financing constraints. And when it's all said and done, we'll formulate a deal that's best for you.
Step 7 – Obtain a loan
Upon completion of the contract, you'll begin working with your mortgage lender to close the loan. It shouldn't take very long at all if you're already pre-qualified, but you 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 mortgage lender will send you a Loan Estimate (LE) outlining closing costs within three days of taking your loan application. You'll get a Loan Estimate (LE) of closing costs from your lender within three days of accepting your loan application. The estimate is formed from the loan amount. RESPA requirements order that it has to involve all closing costs and fall within a precise range of accuracy, and I'll review the estimate and let you know if it all looks okay.
Then we'll close on your house. This will probably happen at a title company or escrow office and will probably be a smooth and peaceful occasion.
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, just contact me at 941-286-8486 or e-mail me at