Buying or selling a home in Rhinelander?
With a little planning ahead of time, purchasing a home isn't very difficult, but the event intimidates a lot of people.
So they know exactly what to expect, I like to furnish buyers with a road map of the entire deal.
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 happy to address questions you have regarding this information.
Step 1 – Prepare to buy a home
There are plenty of things you'll want to do before starting your home search.
When you start your search, you'll want to make an outline of items you need, get an idea of what school districts you want to live in, and begin working on your budget.
Keeping your mortgage payment less than or around 1/3 of your monthly income is a good rule to go by.
Step 2 – Speak with a real estate agent
This is where KEY INSIGHT, LLC Real Estate Services comes in.
I'd be happy to book a time to get together with you and speak with you regarding why you want to buy a home and get an idea of your upcoming plans.
We'll talk about everything from neighborhoods, school districts in the Rhinelander area, the mortgage and housing industries, to any other economic factors that could affect your purchase today or in the future.
In addition, I'll help you get started on your loan.
There are some very good mortgage professionals in Rhinelander, and I work with a lot of them, so you're in great hands.
They can assist you in deciding which type of loan is best for you and help you get qualified.
Step 3 – Begin looking
After our initial meeting, I'll begin finding available homes on the market that meet your needs.
I'll research most of the houses and exclude the bad ones, and then we'll schedule appointments to tour the houses at a time that's convenient for you.
When we view houses, I'll identify good features and negative ones. I'll also ask you about things you like and dislike.
Generally, buyers change their list of must-haves as we view homes and some things become more necessary than others.
If such is the case, I'll look through the listings once more and trim it down to the home you've been wishing for.
Step 4 – Understand the market
Your agent's knowledge of the Rhinelander home market is a necessary component in your house search. And I can assure you I'm familiar with all the schools and neighborhoods, and I'll alert you to some areas are "hot" and warrant immediate action and others that are "cool" and allow for careful consideration.
As we tour houses, I'll be sure to tell you if the seller's list price has room for bargaining or if I believe the house is "priced to sell."
When working with an agent, be mindful and make sure you ask plenty of questions. Any REALTOR in Rhinelander will convince you they truly know the market.
If it seems like they don't know everything, contact me at 7153625151 or e-mail me at , and I'd be happy to answer any questions you may have. My understanding of the market will help you stay a step above the rest throughout the entire process.
Step 5 – Find the home of your dreams
I'm confident we'll find your dream house in Rhinelander. When we do, I'll meticulously create your real estate purchase offer. The offer will be tailored keeping your needs in mind and the home, including a lot of contingencies. A few examples are obtaining financing, completing the inspection, and a clear title.
When submitting your purchase offer, you'll likely want to present "earnest money." This is a cash deposit made to the seller to secure an offer to buy the property and is typically put towards the closing costs. If the offer is accepted by the seller, we should close on the property about 30 to 60 days afterward. This allows ample 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. But don't let it alarm you. We'll consider whether or not to accept the counter offer, present 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.
We'll also work within your financing limits. And at the end of the day, we'll create a deal that works well for you.
Step 7 – Secure your loan
Upon completion of the deal, you'll start working with your lender to close the loan.
If you're pre-approved, this shouldn't take long at all. However, you'll want to keep in close contact with your mortgage lender.
And I'll handle all the property information your lender needs to close the loan.
Step 8 – Close the deal
Your lender will send you a Loan Estimate (LE) detailing closing costs within three days of receiving your application. You'll get a Loan Estimate (LE) outlining closing costs from your lender within three days of accepting your application.
This estimate is formed from the loan amount, and RESPA requirements require that it has to include all closing costs and fall within a narrow range of accuracy. I'll review the estimate and let you know if it all looks all right.
Then we'll close on your house. This will most often occur at a title company or escrow office and will probably be a smooth and easygoing affair.
Step 9 – Move in
Congratulations! Now you can move into your new home. Enjoy it. And if you need anything, simply contact me at 7153625151 or e-mail me at .