Buying or selling a home in Auburn?

For a lot of people, buying a home is a stressful event. However, with a little planning ahead of time, it isn't all that confusing. I like to supply buyers with an outline of the entire deal so they understand exactly what to expect. These are my nine steps to buying a home. If you have questions regarding this information or if you're prepared to get started, just contact me here or e-mail me at .

Step 1 – Prepare to purchase
There are a lot of things you need to contemplate before you look for a home. You'll most likely want to put together a check list of must-have features, get a feeling for what neighborhoods you want to live in, and start working on your budget. A good rule of thumb to go by is that your mortgage payment should be close to 1/3 of your net monthly income.

Step 2 – Speak with a real estate agent
This is where I can help. We can set up a time to meet so we can talk about why you want to buy a home and get an idea of your plans for the future. We'll talk about the mortgage industry, other economic factors that could potentially affect your purchase today or in the future, as well as neighborhoods and schools in the Auburn area.

In addition, I'll help you facilitate the loan process. Lake Country Real Estate, Inc. works with some of the finest mortgage professionals in Auburn, so you're in great hands. They will help you decide which type of loan is best for you, as well as help you get approved.

Step 3 – Start looking for a house
Following our initial meeting, I'll begin finding homes on the market that are good for you. I'll preview many of the homes and throw out the bad ones, and then we'll book appointments to view the houses whenever it's most convenient for you.

As we view the homes, I'll show you the good features, as well as negative ones. I'll also ask you what things you like and dislike. Most often, buyers revise their wish list as we view houses and some things become more important than others. If that happens, I'll look through the listings another time and narrow it down to the house you've been wishing for.

Step 4 – Understand the housing market
My awareness of the Auburn home market is a fundamental factor in your home search. I am mindful of all the neighborhoods and schools, and I can let you know which districts are "hot" and demand prompt action and others that are "cold" and allow for careful consideration.

When we tour homes, I'll make sure to communicate if the seller's asking price has room for negotiation or if I believe the house is "priced to sell." Every real estate agent will convince you they know the housing market, but be wary, and be sure to ask lots of questions. If it appears they don't know everything, call me at (315) 258-9147 or e-mail me at , and I'll be glad to answer any questions you have. My knowledge of the market will keep you a step ahead through the entire process.

Step 5 – Find the home of your dreams
We'll find the home of your dreams in the Auburn area, and when we do, I'll meticulously develop your home purchase offer. The offer will be tailored keeping your needs in mind and the home, including a lot of contingencies. A few examples are acquiring financing, carrying out the home inspection, and a clean title.

When turning in your offer, you'll need to present "earnest money." This is a cash deposit given to the seller to secure the offer to purchase the property. The amount is typically applied to the cost of closing. If your offer is accepted, we should close on the home about 30 to 60 days after. This allows sufficient time for your mortgage financing.

Step 6 – Negotiate
Unfortunately most deals aren't closed on the initial offer – it's extremely common to receive a counter offer. Don't let it alarm you. We'll talk over whether or not to take the counter offer, submit our own counter offer, or decline the seller's offer and move on.

How aggressively we negotiate the deal depends on market conditions. In addition, we'll work within your financing limits. And when it's all said and done, we'll assemble a deal that's best for you.

Step 7 – Get financing
Upon completing the deal, you'll begin working with your mortgage lender to close the loan. If you're pre-approved, it won't take very long at all. However, you need to stay in close contact with your mortgage lender. And I'll take care of all the property information your mortgage lender needs to close the loan.

Step 8 – Close the deal
You'll get a Loan Estimate (LE) outlining closing costs from your mortgage lender within three days of getting your application. The estimate rests on the loan amount, and RESPA requirements dictate that it has to involve all closing costs and fall within a tight range of accuracy. I'll go over the estimate and let you know if everything looks okay.

Then it's time to close on your house. This will most likely happen at a title company or escrow office and will most often be a smooth and easygoing affair.

Step 9 – Move in
Congratulations! Now you can move into your new home. Enjoy it. And if you have any questions, be sure to contact me at (315) 258-9147 or e-mail me at .

Looking to Buy?

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