Buying a home?

Buying a home for the first time is a big step, and without the assistance of a REALTOR©, the process can often seem daunting.

10 Steps to Buying a Home

1. Deciding to buy.
   Whether you are planning to live in your new house for many years or you are investing in a property, write down the reasons and decide if buying makes financial sense. If you are planning to start a family, consider the size of the home and the proximity to schools. If you are buying as an investment, consider staying in your home for at least two years so you can benefit from Capital Gains Tax reductions.

2. Find out how much house you can afford.
   When it comes to purchasing a home, you must take in consideration the economic conditions and the state of the housing market. If you are counting on a mortgage to finance your home you must consider the maximum monthly payments that you can afford. As a rule of thumb, your mortgage payment should not exceed 1/3 of your net monthly income, with a 20% down payment. You must consider also the type of mortgage you should choose: a 30 year fixed rate conventional mortgage differ vastly from an ARM (Adjustable Rate Mortgage), very popular with short term investors. A qualified mortgage consultant will be able to help you decide what financial tool is best for you.
   
   
3. Creating a plan of action.
   Contact me for a No Obligation, Hassle Free consultation.
   Once you decide the criteria for your home, it is time to get pre-qualified for a mortgage loan. Having a document that indicates that you will be approved for a mortgage loan up to a certain amount will be a valuable tool when you decide to make an offer on a house. Home sellers are more inclined to negotiate with potential buyers who did their homework and are qualified to the offer commitment.
   
   
4. Finding the right home for you.
   I am here to make your home searching experience pleasant and informative. My knowledge of the Naples Area Real Estate will be put to work. I will narrow down all the properties available on the MLS and off the market, and I’ll schedule appointments for you to visit these homes. As we are touring homes, your search criteria will narrow and we will be able to choose the home of your dreams.
   
   
5. Making an offer.
   At this point it is time to make an offer. I will assist you in writing a purchase offer that will include all your needs as well as contingencies such as home inspections, clear title, obtaining financing, etc. Usually the offer will be presented accompanied by earnest money. If the offer is accepted by the seller, the earnest money will be applied towards closing costs.
   
   
6. Negotiating the deal.
   In many cases the offer will receive a counter offer. I will help you decide whether to accept it, submit your own counter offer or reject it and move on to another property.
   The Market conditions will play a significant role in how motivated the sellers are and how aggressive your negotiation should be.
   
   
7. Getting a loan.
   The next step is financing your purchase. As you are already pre-qualified, this step will be easier and less stressful. I will gather all the property information that the lender requires to close the transaction.
   
   
8. Property Inspections.
   The time between your offer is accepted and closing day will also be used to perform a property inspection. A professional home inspector will be able to point out if there are any issues that will need to be addressed by the seller before the closing day. This contingency has to be taken seriously as unnoticed defects could be costly later.
   
   
9. Closing day.
   Before closing day you will receive a Good Faith Estimate of closing costs. I will help you review it and determine if any costs can be negotiated. A few hours before closing there will be a pre-closing inspection to verify that all requirements have been met by the seller. The final transaction will close at a Title Company affiliated with Sand Castle Realty or a Title Company of your choice.
   
   
10. Moving in.
    

    Congratulations and Welcome Home! It is time to take ownership and I will give you a checklist of the many details you need to remember so your moving experience will be a pleasure.