Purchasing a new home in Rhinelander
With some planning ahead of time, buying a home isn't too hard, but the event is intimidating for many people.
So they know exactly what to expect, I will furnish buyers with an outline of the whole deal.
Below are my nine steps to purchasing a home.
When you're ready to get started, simply contact me here or e-mail me at . I'm glad to address questions you have regarding this information.
Step 1 – Get ready to purchase
Before you start searching for a home, there are many things you'll want to consider.
You'll want to assemble a checklist of items you need, get a plan of what school districts you'd like to live in, and start working on your budget.
Keeping your mortgage payment less than or close to a third of your monthly income is a good rule of thumb to adhere to.
Step 2 – Get in touch with a real estate agent in Rhinelander
This is where I can help.
I'd be more than happy to schedule a time to meet with you and communicate with you regarding your real estate needs and get an idea of your future plans.
We'll discuss the mortgage industry, other economic factors that could affect your buying decision today or in the future, as well as neighborhoods and school districts in the Rhinelander area.
I'll also help you facilitate the loan process.
KEY INSIGHT, LLC Real Estate Services works with some of Rhinelander's finest mortgage professionals, so you'll be in great hands.
They'll help you choose which type of loan is best for you, as well as help you get qualified.
Step 3 – Begin looking for a home
After our first meeting, I'll begin searching for available houses on the market that meet your needs.
I'll preview many of the houses and ignore the duds, and then we'll set up appointments to tour the houses when it's most convenient for you.
When we view the houses, I'll show you the good features and bad ones. I'll also ask you to talk about things you like and don't like.
Oftentimes, buyers change their must-have list as we view homes and some features become far more necessary than others.
If that's the case, I'll search all the listings again and narrow it down to the house you've been dreaming about.
Step 4 – Comprehend the housing market
My awareness of the Rhinelander market is a leading aspect in your home search. I'm informed of all the neighborhoods and school districts, and I can alert you to some areas are "hot" and call for prompt action and others that are "cool" and allow for thoughtful consideration.
As we tour houses, I'll make sure to communicate when the seller's asking price has room for bargaining and when I think the house is "priced to sell."
When working with an agent, be careful and be sure to ask lots of questions, as every real estate agent will claim to know the market.
If it appears they don't know everything, call me at 715-362-5151 or e-mail me at , and I'll be glad to answer any questions you might have. My market knowledge will keep you a step above the rest through the entire deal.
Step 5 – Find the home you've been waiting for
I'm sure we'll find the house of your dreams in the Rhinelander area. When that happens, I'll thoroughly create 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 home inspection, and a clear title.
When sending in your purchase offer, you'll probably want to present "earnest money." This is a cash deposit given to a home seller to secure an offer to purchase the property. The amount is typically applied to the cost of closing. If the seller accepts the offer, we should close on the property within 30 to 60 days afterward. This allows sufficient time for your mortgage financing.
Step 6 – Negotiate the deal
Most deals aren't closed on the beginning offer, and it's extremely common to receive a counter offer. Don't let this alarm you. We'll talk about whether or not to consent to the counter offer, submit our own counter offer, or reject the seller's offer and go on.
The state of the market determines how aggressively we negotiate the deal.
In addition, we'll work within your financing limits. And at the end of the day, we'll assemble a deal that is best for you.
Step 7 – Get your loan
Once we sign the final sales contract, you'll begin working with your lender to close the loan.
If you're already pre-approved, it won't take long at all, but you'll need to stay in close contact with your mortgage lender.
And I'll care for all the property information your mortgage lender needs to close the loan.
Step 8 – Close the deal
Your mortgage lender will give you a Loan Estimate (LE) detailing closing costs within three days of accepting your application. You'll get a Loan Estimate (LE) detailing closing costs from your lender within three days of getting your application.
The estimate rests on the loan amount, and RESPA requirements require that it has to include all closing costs and be within a tight range of accuracy. I'll study the estimate and let you know if it all looks permissible.
Then it's time to close on your home. This will probably happen at a title company or escrow office and is often a smooth and pleasant event.
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 call me at 715-362-5151 or e-mail me at .