Let KEY INSIGHT, LLC Real Estate Services assist you in buying a home in Rhinelander
Buying a home is an intimidating event for many people, but with a bit of up-front planning, it's not all that complex.
So they'll know exactly what to expect, I will supply buyers with an overview of the entire deal.
Here 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 happy to address any questions you have about this information.
Step 1 – Get ready to purchase
There are a lot of things you'll want to take into account before you look for a home.
When you begin your search, you'll probably want to assemble a check list of items you need, get a feeling for what neighborhoods and school districts you'd like to live in, and begin planning your budget.
Ensuring your mortgage payment is less than or close to a third of your monthly income is a good rule of thumb to go by.
Step 2 – Contact a real estate agent in Rhinelander
This is where I come in.
I'd love to set up a time to get together with you and talk about your real estate needs 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.
I can also assist you in getting started on your loan.
There are some excellent mortgage professionals in Rhinelander, and I partner with a lot of them, so you're in great hands.
They can help you choose which type of loan is best for you, as well as help you get qualified.
Step 3 – Start your home search
After our first meeting, I'll begin finding homes on the market that are great for you.
I'll get a sneak peek of many of the houses and reject the duds, and then we'll set up appointments to tour the homes at a time that's convenient for you.
When we view the houses, I'll call attention to good features and negative ones. I'll even ask you to talk about things you like and don't like.
It's common for buyers to change their must-have list as we tour houses and some things become far more essential than others.
If such is the case, I'll go back through all the listings again and narrow it down to the house you've been wishing for.
Step 4 – Know the housing market
An agent's knowledge of the Rhinelander home market is a leading element in your house search. And I can assure you I'm mindful of all the neighborhoods and schools, and I'll let you know which areas are "hot" and demand immediate action and some that are "cool" and allow for careful analysis.
As we tour homes, I'll let you know when the seller's asking price has room for negotiation and also when I know the house is "priced to sell."
Every real estate agent will convince you they comprehend the housing market, but keep an eye out, and make sure you ask your agent lots of questions.
If things don't add up, call me at 715-362-5151 or e-mail me at , and I'd be glad to answer any questions you may have. My understanding of the market will keep you a step above the rest through the entire process.
Step 5 – Find the home of your dreams
We'll find the house of your dreams in the Rhinelander area, and when we do, I'll thoroughly develop your real estate purchase offer. The offer will be tailored keeping your needs in mind and the home, including many contingencies. A few examples are acquiring financing, carrying out the inspection, and a clear title.
When we turn in your purchase offer, most likely you'll want to present "earnest money." This is a cash deposit made to the home seller to secure the offer to buy the property, and it's typically applied to the cost of closing. If the offer is accepted by the seller, we should close on the home within 30 to 60 days afterward. This allows necessary time for your mortgage financing.
Step 6 – Negotiate the deal
Unfortunately most contracts don't close on the first offer. It's widely common to receive a counter offer. Don't let this alarm you. We'll talk about whether or not to accept the counter offer, submit our own counter offer, or refuse the seller's offer and move on.
The state of the market will play a role in how aggressively we negotiate the contract.
We'll also work within your budget. And when it's all said and done, we'll compose a deal that's best for you.
Step 7 – Secure a loan
Upon signing the deal, you'll start working with your lender to close the loan.
If you're already pre-qualified, this shouldn't take long at all, but you'll need to keep in close contact with your lender.
And I'll take care of all the property information your mortgage lender will need to close the loan.
Step 8 – Close the deal
Your mortgage lender will send you a Loan Estimate (LE) of your closing costs within three days of taking your application. You'll get a Loan Estimate (LE) detailing your closing costs from your lender within three days of receiving your loan application.
The estimate rests on the loan amount, and RESPA requirements order that it has to contain all closing costs and fall within a precise range of accuracy. I'll review the estimate and let you know if it all looks good.
Then we'll close on your home. This should happen at a title company or escrow office and will most often be a smooth and relaxing occasion.
Step 9 – Move in
Congratulations! Now you can move into your new home. Enjoy it. And if you need anything, make sure you contact me at 715-362-5151 or e-mail me at .