9 Steps to Owning
Buying or selling a home in Orange Park? The Coffey Group can help.
Buying a home is an intimidating event for many people, but with a little planning ahead of time, it's not that hard. So you understand exactly what to expect, I like to give my buyers a road map of the entire deal. Here are my nine steps to purchasing a home.
Step 1 – Get ready to buy
There are a lot of things you should do before starting your home search. When you start your search, you'll want to assemble an outline of features you want, get a feel for what school districts you'd like to live in, and start planning your budget. Ensuring your mortgage payment is less than or close to a third of your monthly income is a good rule to adhere to.
Step 2 – Get with a real estate agent
This is where I come in. I can book a time to meet so we can talk about your real estate needs and get an idea of your upcoming plans. We'll talk about everything from neighborhoods, schools in the Orange Park area, the mortgage and housing industries, to any other economic factors that may affect your buying decision today or in the future.
I'll also help you begin the loan process. The Coffey Group partners with some of Orange Park's finest mortgage professionals, so you're in great hands. They'll assist you with figuring out which type of loan is best for you and help you get qualified.
Step 3 – Start looking
After we meet, I'll begin finding houses on the market that are a great fit for you. I'll get a sneak peek of most of the homes and remove the duds, and then we'll book appointments to view the houses when it's convenient for you.
When we tour the houses, I'll identify good features and bad ones. I'll even ask you to point out what things you like and dislike. For the most part, buyers amend their list of must-haves as we tour houses and some features become far more essential than others. If such is the case, I'll search the listings again and trim it down to the house of your dreams.
Step 4 – Get a grasp of the market
My awareness of the Orange Park housing market is a fundamental benefit in your house search. I am conscious of all the neighborhoods and schools, and I'll communicate certain neighborhoods are "hot" and demand immediate action and the others that are "cool" and allow for thoughtful analysis.
When we tour homes, I'll be sure to tell you when the asking price has room for bargaining and when I know the home is "priced to sell." Every real estate agent will claim to truly know the housing market, but keep an eye out, and make sure you ask your agent lots of questions. If it doesn't seem like they know everything, call me at (904) 215-4432 or e-mail me at firstname.lastname@example.org, and I'd be glad to answer any questions you have. My market knowledge will help you stay a step ahead through the entire process.
Step 5 – Find the home you've been looking for
I know we'll find the home of your dreams in Orange Park. When we do, I'll thoroughly create your purchase offer. The offer will be tailored exactly to your needs, including some contingencies. A few examples are acquiring financing, completing the home inspection, and a clean title.
When we send in your purchase offer, you'll likely need to present "earnest money." This is a cash deposit given to a home seller to secure an offer to buy the property and is often put towards the cost of closing. If the offer is accepted, we should close on the home within 30 to 60 days after. This allows sufficient time for your mortgage financing.
Step 6 – Negotiate
A lot of deals aren't closed on the initial offer. It's widely common to receive a counter offer. But don't let this 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 go on.
How aggressively we negotiate the contract depends on market circumstances. In addition, we'll work within your financing constraints. And at the end of the day, we'll assemble a deal that works well for you.
Step 7 – Obtain your loan
Once we sign the final contract, you'll start working with your lender to close the loan. If you're already pre-approved, it shouldn't be a long process at all. However, you should to stay in close contact with your mortgage lender. And I'll handle all the property information your mortgage lender will need to close the loan.>You'll get a Good Faith Estimate (GFE) of your closing costs from your mortgage lender within three days of receiving your application. The estimate is based on the loan amount, and RESPA requirements mandate that it has to involve all closing costs and be within a narrow range of accuracy. I'll examine the estimate and let you know if it all looks permissible.
Then we'll close on your home. This should occur at a title company or escrow office and will most often be a smooth and relaxing affair.
Step 9 – Move in
Success! Now you can move into your new home. Enjoy it. And if you need anything or have any questions, be sure to contact me at (904) 215-4432 or contact us today!