Buying a new home in Naples with Metro Properties
Purchasing a home is intimidating for many people, but with some planning ahead of time, it isn't too hard.
I like to supply buyers with an outline of the whole deal so they'll know exactly what to expect.
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 glad to address questions you have regarding this information.
Step 1 – Prepare to purchase
Prior to starting your home search, there are plenty of things you should do.
You'll probably want to put together a check list of must-have features, get a feel for what neighborhoods you want to live in, and begin working on your budget.
Keeping your mortgage payment less than or close to a third of your net monthly income is a good rule of thumb to adhere to.
Step 2 – Contact a real estate agent
This is where I can help.
We'll plan a time to get together so we can talk about your real estate needs and get an idea of your future plans.
We'll discuss neighborhoods, school districts in the Naples area, the mortgage industry, and any other economic factors that may potentially affect your purchase today or in the future.
In addition, I'll help you begin the loan process.
Metro Properties works with some of Naples's best mortgage professionals, so you're in great hands.
They can help you figure out which kind 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 start searching for homes on the market that are a great fit for you.
I'll get a sneak peek of many of the homes and remove the bad ones, and then we'll set up appointments to view the houses at a time that's convenient for you.
When we tour houses, I'll identify good features, as well as bad ones. And I'll ask you about things you like and dislike.
Frequently, buyers update their list of must-haves as we view houses and some items become far more substantial than others.
If such is the case, I'll go back through the listings another time and narrow it down to the house you've been dreaming about.
Step 4 – Comprehend the housing market
My awareness of the Naples market is an essential component in your home search. I am mindful of all the neighborhoods and school districts, and I will alert you to some areas are "hot" and demand prompt action and others that are "cold" and allow for thoughtful analysis.
When we view houses, I'll make sure to communicate if the seller's asking price has room for bargaining or if I believe the house is "priced to sell."
When working with an agent, be on guard and make sure you ask plenty of questions, as every REALTOR in Naples will claim to understand the home market.
If it doesn't seem like they know everything, contact me at 800-252-6633 or e-mail me at , and I'd be glad to answer any questions you have. My understanding of the market will help you stay a step ahead through the entire process.
Step 5 – Find the home you've been looking for
We'll find the house of your dreams in the Naples area, and when we do, I'll thoroughly create your purchase offer. The offer will be tailored exactly to your needs and the home, including several contingencies, such as acquiring financing, finishing the home inspection, and a clean title.
When turning in your purchase offer, you'll want to present "earnest money." This is a cash deposit given to a seller to secure an offer to buy the property. The amount is usually applied to the cost of closing. If the seller accepts the offer, we should close about 30 to 60 days afterward. This allows enough time for your mortgage financing.
Step 6 – Negotiate
Most deals don't close on the initial offer. It's very common to receive a counter offer. Don't let this discourage you. We'll talk about whether or not to accept the counter offer, submit our own counter offer, or reject the seller's offer and move on.
Market circumstances will play a vital role in how aggressively we negotiate the deal.
In addition, we'll work within your financing budget. And when it's all said and done, we'll compose a contract that is best for you.
Step 7 – Secure financing
Upon finishing the contract, you'll start working with your mortgage lender to close the loan.
If you've been pre-qualified, this shouldn't be a long process at all, but you'll need to keep in close contact with your mortgage 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
You'll get a Loan Estimate (LE) of closing costs from your lender within three days of accepting your application.
The estimate is based on the loan amount, and RESPA requirements mandate that it has to contain all closing costs and be within a strict range of accuracy. I'll study the estimate and let you know if everything looks all right.
Then we'll close on your house. This will most likely happen at a title company or escrow office and is often a smooth and peaceful occurrence.
Step 9 – Move in
Congratulations! It's time to move into your new home. Enjoy it. And if you need anything, be sure to contact me at 800-252-6633 or e-mail me at .