Are you contemplating buying a new home in Rhinelander?
Buying a home is stressful for most people. However, with some up-front planning, it isn't very complicated.
So they'll know exactly what to expect, I'll supply buyers with an outline of the entire deal.
Here are my nine steps to purchasing a home.
When you're ready to get started, just 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
There are plenty of things you need to do prior to starting your home search.
When you start your search, you'll probably want to put together a checklist of items you want, get a plan of what school districts and neighborhoods you'd like to live in, and start planning your budget.
Ensuring your mortgage payment is less than or around 30 percent of your net monthly income is a good principle to adhere to.
Step 2 – Contact a real estate agent in Rhinelander
This is where KEY INSIGHT, LLC Real Estate Services can help.
We can schedule a time to get together so we can talk about why you want to buy a home and get an idea of your plans for the future.
We'll discuss neighborhoods, school districts in the Rhinelander area, the mortgage industry, and any additional economic factors that could affect your buying decision today or in the future.
In addition, I'll help you get started on your loan.
There are some great mortgage professionals in Rhinelander, and I partner with a lot of them, so you can rest assured that you're 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 – Start house-hunting
After we meet, I'll begin finding houses on the market that are a good fit for you.
I'll research most of the homes and remove the duds, and then we'll schedule appointments to tour the houses at a time that's convenient for you.
As we tour the houses, I'll identify good features and bad ones. And I'll ask you to talk about things you like and dislike.
Generally, buyers amend their wish list as we view houses and some items become more essential than others.
If such is the case, I'll go back through the listings one more time and narrow it down to the house you've been waiting for.
Step 4 – Comprehend the housing market
An agent's knowledge of the Rhinelander market is a crucial aspect in your home search. And I can assure you I'm acquainted with all the school districts and neighborhoods, and I can let you know certain neighborhoods are "hot" and require immediate action and the ones that are "cool" and allow for more examination.
When we tour homes, I'll make sure to communicate when the list price has room for negotiation and when I know the house is "priced to sell."
Be mindful and make sure you ask your agent lots of questions, as every REALTOR in Rhinelander will tell you they truly understand 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 your questions. My market knowledge will help you stay a step ahead throughout the entire process.
Step 5 – Find the house you've been waiting for
I'm sure we'll find your dream home in the Rhinelander area. When that happens, I'll thoroughly develop your purchase offer. The offer will be tailored keeping your needs in mind and the home, including many contingencies, such as obtaining financing, completing the inspection, and a clear title.
Upon sending in your offer, you'll probably want to submit "earnest money." This is a cash deposit made to the home seller to secure the offer to buy the property. The amount is often applied to the cost of closing. If the offer is accepted, we should close about 30 to 60 days after. This allows sufficient time for your mortgage financing.
Step 6 – Negotiate the deal
A lot of contracts don't close on the first offer – it's really common to receive a counter offer. Don't let this discourage you. We'll talk over whether or not to take the counter offer, propose our own counter offer, or reject the seller's offer and move on.
How aggressively we negotiate the deal depends on market circumstances.
In addition, we'll work within your financing constraints. And at the end of the day, we'll formulate a deal that is best for you.
Step 7 – Secure your loan
After we sign the final sales contract, you'll start working with your mortgage lender to close the loan.
If you're already pre-approved, it won't take much time at all, but you'll need to keep 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 provide you with a Loan Estimate (LE) of closing costs within three days of taking your loan application. You'll get a Loan Estimate (LE) outlining your closing costs from your mortgage lender within three days of taking your loan application.
This estimate rests on the loan amount. RESPA requirements mandate that it has to include all closing costs and fall within a strict range of accuracy, and I'll study the estimate and let you know if everything looks good.
Then we'll close on your house. This will most likely take place at a title company or escrow office and will probably be a smooth and pleasant event.
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, be sure to call me at 715-362-5151 or e-mail me at .