Are you purchasing a new home in Rhinelander? KEY INSIGHT, LLC Real Estate Services can help.
Purchasing a home is intimidating for a lot of people, but it isn't too complicated with a little up-front planning.
So they understand exactly what to expect, I will supply buyers with an overview of the whole deal.
Below are my nine steps to buying a home.
When you're ready to get started, you can contact me here or e-mail me at . I'm happy to address questions you have about this information.
Step 1 – Prepare to buy a home
There are a lot of things you need to consider before commencing your home search.
When you start your search, you'll want to form an index of features you want, get a feeling for what neighborhoods you want to live in, and begin working on your budget.
Keeping your mortgage payment around a third of your monthly income is a good rule to adhere to.
Step 2 – Connect with a real estate agent
This is where I can help.
We can arrange a time to meet so we can talk about why you want to buy a home and get an idea of your future plans.
We'll discuss everything from neighborhoods, school districts in the Rhinelander area, the mortgage industry, to any other economic factors that may affect your purchase today or in the future.
I'll also help you facilitate the loan process.
I work with some of the finest mortgage professionals in Rhinelander, so you're in great hands.
They can help you choose which kind of loan is best for you, as well as help you get approved.
Step 3 – Start house-hunting
After we meet for the first time, I'll start searching for available homes on the market that best suit you.
I'll get a sneak peek of most of the houses and throw out the duds, and then we'll book appointments to view the houses when it's most convenient for you.
When we view the homes, I'll show you the good features, as well as bad ones. And I'll ask you to tell us about things you like and dislike.
As a rule, buyers update their must-have list as we tour houses and some items become more substantial than others.
If such is the case, I'll search all the listings again and trim it down to the house you've been wishing for.
Step 4 – Comprehend the market
My knowledge of the Rhinelander housing market is a crucial component in your house search. I'm conscious of all the schools and neighborhoods, and I can communicate which neighborhoods are "hot" and require prompt action and some that are "cool" and allow for thoughtful analysis.
As we tour houses, I'll make sure to communicate when the seller's asking price has room for bargaining and when I trust the house is "priced to sell."
Every REALTOR will claim to truly understand the home market, but beware, and be sure to ask a lot of questions.
If it doesn't seem like they know everything, call me at 715-362-5151 or e-mail me at , and I'd be glad to answer any questions you have. My knowledge of the market will help you stay a step above the rest throughout the entire deal.
Step 5 – Find the house of your dreams
We'll find your dream home in Rhinelander, and when we do, I'll precisely develop your home purchase offer. The offer will be tailored exactly to your needs and the home, including a lot of contingencies, such as obtaining financing, carrying out the home inspection, and a clear title.
When sending in your offer, you'll probably want to submit "earnest money." This is a cash deposit submitted to the home seller to secure an offer to buy the property and is often applied to the cost of closing. If the offer is accepted by the seller, we should close on the home about 30 to 60 days afterward. This allows ample time for your mortgage financing.
Step 6 – Negotiate
Unfortunately most contracts aren't closed on the initial offer. It's extremely common to receive a counter offer. But don't let this intimidate you. We'll discuss whether or not to agree to the counter offer, submit our own counter offer, or decline the seller's offer and move on.
Market circumstances will play a part in how aggressively we negotiate the deal.
In addition, we'll work within your financing limits. And at the end of the day, we'll create a contract that's best for you.
Step 7 – Secure financing
Once the deal is signed, you'll begin working with your lender to close the loan.
If you've been pre-approved, this shouldn't take much time at all, but you'll need to stay in close contact with your lender.
And I'll manage all the property information your mortgage lender will need to close the loan.
Step 8 – Close the deal
You'll get a Loan Estimate (LE) detailing your closing costs from your mortgage lender within three days of accepting your loan application.
The estimate is based on the loan amount, and RESPA requirements order that it has to include all closing costs and be within a close range of accuracy. I'll go over the estimate and let you know if everything looks all right.
Then it's time to close on your house. This will most often happen at a title company or escrow office and will most likely be a smooth and relaxed occurrence.
Step 9 – Move in
Congratulations! It's time to move into your new home. Enjoy it. And if you have any questions, just call me at 715-362-5151 or e-mail me at .