Are you contemplating purchasing a home in Tallahassee? Carey & Hart Realtors can help.
With some up-front planning, buying a home isn't very confusing, but it still can be stressful for many people. So you know exactly what to expect, we like to supply our buyers with an outline of the whole deal. Below are our nine steps to buying a home.
Should you have questions about any of this information or if you're prepared to get started, simply contact us here.
Step 1 – Prepare to Purchase
There are a lot of things you need to contemplate before starting your home search. When you begin your search, you'll want to put together a list of items you need to have, plan for what neighborhoods you want to live in, and begin thinking about your budget. Keeping your mortgage payment less than or around 30 percent of your net monthly income is a good rule to go by.
Step 2 – Contact a Realtor
This is where we come in. We'd be happy to set up a time to get together and discuss your real estate needs and get an idea of your upcoming plans. We'll talk about your specific goals and timelines, go over a sample contract & estimated closing costs, and discuss other economic factors that might affect your buying decision today or in the future.
We can also assist you in getting started on your loan. Carey & Hart Realtors partner with some of Tallahassee's finest mortgage professionals, so you can rest assured that you're in great hands. They will assist you in deciding which type of loan is best for you and help you get approved.
Step 3 – Start Your Search
After we meet for the first time, we'll start finding available houses that fit your criteria. We can put you on an MLS Auto Alert - so you'll be the first to know when a new home is listed on the market. We'll preview many of the homes and exclude the duds, and then we'll schedule appointments to view the homes at a time that's convenient for you.
When we view the houses, we'll call attention to positive features, as well as bad ones. We'll even ask you to tell us about things you like and dislike. It's widely common for buyers to change their wish list as we tour homes and some items become more essential than others. If such is the case, we'll look through the listings another time and narrow it down to the house of your dreams.
Step 4 – Get a Feel for the Market
Our knowledge of the Tallahassee housing market is a necessary element in your home search. We are full-time agents, actively assisting customers in Leon, Wakulla and Gadsden counties every day. Lisa Carey is a Midtown expert & Lesa Hart is a NE expert. But, we can assure you we're well acquainted with all the school districts and neighborhoods, and we can alert you to what districts are "hot" and demand immediate action and the ones that are "cold" and allow for more consideration.
As we tour houses, we'll make sure to communicate if we believe the list price has room for negotiation or if we believe the house is "priced to sell." We regularly run CMAs or comps on your target neighborhoods to determine average sales prices and price per square foot.
Step 5 – Find the Home You Love
We're confident we'll find the house of your dreams in the Tallahassee area. When that happens, we'll thoroughly create your purchase offer. The offer will be tailored with your needs in mind, including a lot of contingencies, such as acquiring financing, completing the home inspection, and a clean title.
When sending in your offer, you'll need a letter of pre-qualification from a lender and "earnest money." This is a cash deposit made to a seller (held in escrow) to secure the offer to buy the property and is applied to the cost of closing. If the seller accepts your offer, we should close on the home about 30 to 60 days after. This allows ample time for your mortgage financing.
Step 6 – Negotiate the Deal
A lot of deals aren't closed on the first offer – it's very common to receive a counter offer. Don't let it alarm you. We'll consider whether or not to accept the counter offer, submit our own counter offer, or reject the seller's offer and move on.
Market circumstances can determine how aggressively you should offer. But, we'll always work within your budget. At the end of the day, we'll formulate a deal that is best for you.
Step 7 – Secure your Loan & Due Diligence
After you sign the final sales contract, you'll start working with your mortgage lender to close the loan. This shouldn't take long at all if you've been pre-qualified, but you should to stay in close contact with your mortgage lender. And we'll look after all the property information your mortgage lender will need to close the loan. Typically, you'll have 10-15 days to have satisfactory inspections and secure insurance - we'll help you the entire time.>
Step 8 – Close the Deal
Your mortgage lender will supply you with a Good Faith Estimate (GFE) outlining your closing costs within days of accepting your application. The estimate rests on the loan amount. RESPA requirements order that it has to involve all closing costs and fall within a precise range of accuracy, and we'll examine the estimate and let you know if everything looks okay.
Then we'll close on your house. This should happen at a title company or escrow office and will most often be a smooth and hassle-free event.
Step 9 – Move In
You made it! Now you can move into your new house. Enjoy it. And if you have any questions, simply contact us at 850-212-3083 or send us an e-mail.