Buying or selling a home in Rhinelander?
Buying a home is a stressful event for many people, but with some up-front planning, it isn't all that complicated.
I like to supply buyers with a road map of the entire deal so they'll understand exactly what to expect.
Here are my nine steps to purchasing a home.
When you're ready to get started, you can contact me here or e-mail me at . I'm glad to address any questions you have regarding this information.
Step 1 – Prepare to buy a home
There are several things you'll want to contemplate before you look for a home.
You'll probably want to put together a list of must-haves, get an idea of what neighborhoods and school districts you'd like to live in, and start working on your budget.
A good guideline to follow is that your mortgage payment should be less than or close to a third of your monthly income.
Step 2 – Communicate with a real estate agent in Rhinelander
That's where I come in.
I'd like to schedule a time to get together with you and speak with you regarding your real estate needs and get an idea of your plans for the future.
We'll discuss the mortgage and housing industries, other economic factors that may affect your buying decision today or in the future, as well as neighborhoods and school districts in the Rhinelander area.
In addition, I'll help you begin the loan process.
There are some great mortgage professionals in Rhinelander, and I work with a lot of them, so you'll be in great hands.
They can help you determine which kind of loan is best for you, as well as help you get qualified.
Step 3 – Begin your home search
After our initial meeting, I'll start searching for houses on the market that meet your needs.
I'll get a sneak peek of most of the houses and exclude the bad ones, and then we'll schedule appointments to view the houses when it's most convenient for you.
As we tour the homes, I'll call attention to good features, as well as negative ones. And I'll ask you about things you like and don't like.
It's pretty common for buyers to change their must-have list as we tour homes and some things become more important than others.
If that happens, I'll search the listings once more and trim it down to the home you've been waiting for.
Step 4 – Get a grasp of the housing market
My knowledge of the Rhinelander market is a necessary element in your house search. I'm acquainted with all the schools and neighborhoods, and I will communicate some areas are "hot" and require prompt action and others that are "cold" and allow for more examination.
As we tour houses, I'll let you know if the seller's list price has room for bargaining or if I believe the home is "priced to sell."
When working with an agent, be on guard and be sure to ask a lot of questions. Any real estate agent will tell you they truly understand the home market.
If it doesn't seem like they know everything, contact me at 715-362-5151 or e-mail me at , and I'd be happy to answer any questions you have. My understanding of the market will keep you a step above the rest through the entire process.
Step 5 – Find your dream home
I'm sure we'll find the home of your dreams in Rhinelander. When that happens, I'll precisely create your real estate purchase offer. The offer will be made to fit your needs and the home. We'll include some contingencies, such as obtaining financing, finishing the inspection, and a clear title.
When we turn in your offer, you'll need to present "earnest money." This is a cash deposit given to a seller to secure the offer to purchase the property, and it's typically put towards the cost of closing. If your offer is accepted, we should close within 30 to 60 days after. This allows plenty of time for your mortgage financing.
Step 6 – Negotiate the deal
Most deals don't close on the beginning offer – it's really common to receive a counter offer. But don't let it alarm you. We'll figure out whether or not to consent to the counter offer, propose our own counter offer, or decline the seller's offer and move on.
Market circumstances will play a big part in how aggressively we negotiate the deal.
We'll also work within your financing limits. And when it's all said and done, we'll create a contract that works well for you.
Step 7 – Get financing
After the deal is signed, you'll begin working with your mortgage lender to close the loan.
This won't take much time at all if you're already pre-qualified, but you should to keep in close contact with your mortgage lender.
And I'll care for all the property information your lender needs to close the loan.
Step 8 – Close the deal
Your mortgage lender will supply you with a Loan Estimate (LE) of your closing costs within three days of receiving your application. You'll get a Loan Estimate (LE) detailing your closing costs from your lender within three days of accepting your application.
This estimate is based on the loan amount, and RESPA requirements require that it has to include all closing costs and be within a precise range of accuracy. I'll analyze the estimate and let you know if everything looks permissible.
Then we'll close on your house. This will most often take place at a title company or escrow office and will most often be a smooth and peaceful affair.
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 715-362-5151 or e-mail me at .