Let TransEra Realty help you with buying a new home in Big Lake

For a lot of people, purchasing a home can be stressful. But with a little up-front planning, it's not all that difficult. We like to give buyers an outline of the whole deal so they understand exactly what to expect. Here are our nine steps to buying a home.

Step 1 – Get ready to purchase a home
There are several things you'll want to take into account prior to commencing your home search. It's likely that you'll want to create a list of features you want, get a plan of what school districts and neighborhoods you want to live in, and begin planning your budget. A good principle to go by is that your mortgage payment should be a third of your net monthly income.

Step 2 – Communicate with a real estate agent in Big Lake
This is where we can help. We'll schedule a time to meet so we can talk about why you want to buy a home and get an idea of your upcoming plans. We'll discuss the mortgage and housing industries, other economic factors that could affect your buying decision today or in the future, as well as neighborhoods and school districts in the Big Lake area.

We'll also help you begin the loan process. We partner with some of the finest mortgage professionals in Big Lake, so you're in great hands. They'll assist you in figuring out which kind of loan is best for you and help you get qualified.

Step 3 – Start house-hunting
After our initial meeting, we'll begin looking for houses on the market that are good for you. We'll research many of the homes and eliminate the bad ones, and then we'll set up appointments to tour the houses when it's most convenient for you.

As we view homes, we'll show you the positive features, as well as bad ones. And we'll ask you what things you like and dislike. Usually, buyers amend their must-have list as we view houses and some things become far more necessary than others. If that happens, we'll search all the listings again and narrow it down to the home of your dreams.

Step 4 – Get a grasp of the market
Your agent's awareness of the Big Lake market is a leading component in your house search. And we can assure you we're very familiar with all the neighborhoods and school districts, and we can let you know some districts are "hot" and demand prompt action and the others that are "cold" and allow for more analysis.

When we view homes, we'll let you know if the seller's asking price has room for bargaining or if I believe the home is "priced to sell." Every real estate agent will claim to know the home market, but be wary, and be sure to ask lots of questions. If it doesn't seem like they know everything, just call us at 7632636610 or e-mail us at mortgage11@re-consumer.com, and we'll be happy to answer any questions you have. Our understanding of the market will help you stay a step ahead throughout the entire process.

Step 5 – Find your dream home
We're confident we'll find your dream home in the Big Lake area. When that happens, we'll thoroughly create your purchase offer. The offer will be tailored keeping your needs in mind, including many contingencies. A few examples are obtaining financing, carrying out the home inspection, and a clear title.

When presenting your purchase offer, you'll probably need to submit "earnest money." This is a cash deposit submitted to the seller to secure the offer to purchase the property. The amount is often applied to the closing costs. If your offer is accepted, we should close on the property within 30 to 60 days afterward. This allows necessary time for your mortgage financing.

Step 6 – Negotiate the deal
Most contracts don't close on the first offer – it's really common to receive a counter offer. Don't let it alarm you. We'll figure out whether or not to agree to the counter offer, present our own counter offer, or decline the seller's offer and move on.

How aggressively we negotiate the deal depends on the state of the market. We'll also work within your financing constraints. And when it's all said and done, we'll create a deal that is best for you.

Step 7 – Obtain a loan
After we sign the final contract, you'll begin working with your mortgage lender to close the loan. If you're pre-approved, it won't take much time at all. But you'll need to stay in close contact with your lender. And we'll sort out all the property information your mortgage lender needs to close the loan.>

Step 8 – Close the deal
Your lender will furnish you with a Good Faith Estimate (GFE) detailing closing costs within three days of accepting your application. This estimate depends on the loan amount. RESPA requirements order that it has to involve all closing costs and fall within a precise range of accuracy, and we'll examine the estimate and let you know if everything looks permissible.

Then we'll close on your home. This will most often take place at a title company or escrow office and will most often be a smooth and easygoing event.

Step 9 – Move in
Congratulations! It's time to move into your new home. Enjoy it. And if you need anything, make sure you contact us at 7632636610 or send us an e-mail.