Buying your new home in Norman with Vawter Real Estate
Purchasing a home is a stressful event for many people, but with some planning ahead of time, it's not that complicated.
I like to supply buyers with an outline of the whole deal so they'll understand exactly what they can expect.
Below are my nine steps to buying a home.
When you're ready to get started, you can contact me here or e-mail me at . I'm happy to answer questions you have regarding this information.
Step 1 – Get ready to buy a home
There are plenty of things you'll want to do prior to beginning your home search.
When you start your search, you'll want to make a list of items you need to have, get a plan of what neighborhoods you want to live in, and begin working on your budget.
A good rule to follow is that your mortgage payment should be less than or close to 30 percent of your monthly income.
Step 2 – Contact a real estate agent
That's where I can help.
I'd be more than happy to schedule a time to meet with you and communicate with you regarding your real estate needs and get an idea of your plans for the future.
We'll talk about neighborhoods, school districts in the Norman area, the mortgage and housing industries, and any other economic factors that could potentially affect your purchase today or in the future.
I can also assist you with getting started on your loan.
I partner with some of the best mortgage professionals in Norman, so you'll be in great hands.
They can assist you in deciding which type of loan is best for you and help you get approved.
Step 3 – Start looking for a house
Following our initial meeting, I'll begin finding houses on the market that best suit you.
I'll get a sneak peek of many of the houses and remove the bad ones, and then we'll book appointments to view the homes at a time that's convenient for you.
As we tour houses, I'll identify good features and negative ones. And I'll ask you to talk about things you like and dislike.
It's widely common for buyers to revise their list of must-haves as we view homes and some things become more important than others.
If that's the situation, I'll go back through all the listings again and narrow it down to the house of your dreams.
Step 4 – Understand the market
My awareness of the Norman housing market is a leading factor in your home search. I'm familiar with all the schools and neighborhoods, and I can alert you to certain neighborhoods are "hot" and require immediate action and the ones that are "cold" and allow for careful analysis.
As we view houses, I'll let you know when the seller's asking price has room for negotiation and also when I think the home is "priced to sell."
When working with an agent, trust your instincts and make sure you ask a lot of questions, as every real estate agent will convince you they comprehend the market.
If things don't add up, call me at (405)360-5635 or e-mail me at , and I'll be more than happy to answer any questions you have. My market expertise will keep you a step above the rest throughout the entire process.
Step 5 – Find the home of your dreams
We'll find the house of your dreams in Norman, and when we do, I'll thoroughly develop your real estate purchase offer. The offer will be tailored with your needs in mind and the home, including several contingencies. A few examples are getting financing, completing the inspection, and a clean title.
When submitting your purchase offer, you'll likely want to submit "earnest money." This is a cash deposit submitted to the seller to secure an offer to buy the property, and it's often put towards the closing costs. If your offer is accepted by the seller, we should close on the property within 30 to 60 days after. This allows ample time for your mortgage financing.
Step 6 – Negotiate
Most contracts don't close on the beginning offer – it's really common to receive a counter offer. Don't let this intimidate you. We'll consider whether or not to agree to the counter offer, submit our own counter offer, or refuse the seller's offer and move on.
How aggressively we negotiate the contract depends on market circumstances.
In addition, we'll work within your financing limits. And when it's all said and done, we'll compose a contract that works well for you.
Step 7 – Obtain a loan
Upon completion of the contract, you'll start working with your lender to close the loan.
It shouldn't be a long process at all if you're pre-approved, but you should to keep in close contact with your mortgage lender.
And I'll manage all the property information your lender will need to close the loan.
Step 8 – Close the deal
Your mortgage lender will give you a Loan Estimate (LE) of closing costs within three days of taking your application. You'll get a Loan Estimate (LE) outlining your closing costs from your mortgage lender within three days of receiving your loan application.
This estimate is based on the loan amount, and RESPA requirements dictate that it has to include all closing costs and be within a narrow range of accuracy. I'll analyze the estimate and let you know if it all looks okay.
Then we'll close on your house. This will most often occur at a title company or escrow office and is often a smooth and stress-free occasion.
Step 9 – Move in
Congratulations! Now you can move into your new home. Enjoy it. And if you have any questions, make sure you contact me at (405)360-5635 or e-mail me at .