Buying a home in Naples
Buying a home is stressful for a lot of people, but it's not very hard with a bit of up-front planning.
I like to give buyers a road map of the entire deal so they 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 any questions you have about this information.
Step 1 – Prepare to purchase
There are a lot of things you should take into account before commencing your home search.
When you begin your search, you'll probably want to form an outline of items you need to have, get a feeling for what neighborhoods and school districts you want to live in, and begin planning around your budget.
A good principle to go by is that your mortgage payment should be less than 30 percent of your monthly income.
Step 2 – Communicate with a real estate agent in Naples
This is where Metro Properties comes in.
I'd be more than happy to schedule a time to get together with you and communicate with you about why you want to buy a home and get an idea of your future plans.
We'll talk about neighborhoods, schools in the Naples area, the mortgage industry, and any other economic factors that may affect your purchase today or in the future.
I'll also help you get started on your loan.
Metro Properties works with some of the finest mortgage professionals in Naples, so you'll be in great hands.
They can assist you with figuring out which type of loan is best for you and help you get approved.
Step 3 – Begin looking for a home
After our initial meeting, I'll start searching for houses on the market that are good for you.
I'll preview most of the homes and eliminate the bad ones, and then we'll schedule appointments to view the homes when it's convenient for you.
As we view houses, I'll point out good features, as well as bad ones. I'll even ask you about things you like and dislike.
It's widely common for buyers to revise their list of must-haves as we tour homes and some things become far more substantial than others.
If that's the situation, I'll search all the listings one more time and narrow it down to the home of your dreams.
Step 4 – Get a grasp of the housing market
My awareness of the Naples home market is a fundamental element in your home search. I'm mindful of all the neighborhoods and schools, and I'll alert you to some neighborhoods are "hot" and demand prompt action and some that are "cold" and allow for thoughtful analysis.
When we tour homes, I'll be sure to tell you if the list price has room for bargaining or if I believe the home is "priced to sell."
Trust your instincts and make sure you ask plenty of questions, as any REALTOR will claim to truly know the home market.
If things don't add up, call me at 800-252-6633 or e-mail me at , and I'll be happy to answer any questions you might have. My market knowledge will keep you a step ahead throughout the entire deal.
Step 5 – Find your dream home
We'll find the home of your dreams in the Naples area, and when that happens, I'll precisely create your home purchase offer. The offer will be tailored exactly to your needs and the home, including several contingencies, such as acquiring financing, finishing the inspection, and a clean title.
When we turn in your purchase offer, you'll likely need to submit "earnest money." This is a cash deposit given to the home seller to secure the offer to buy the property, and it's often applied to the cost of closing. If your offer is accepted by the seller, we should close on the property about 30 to 60 days after. This allows plenty of time for your mortgage financing.
Step 6 – Negotiate
A lot of deals aren't closed on the first offer, and it's widely common to receive a counter offer. Don't let this intimidate you. We'll discuss whether or not to accept the counter offer, propose our own counter offer, or reject the seller's offer and move on.
Market conditions determine how aggressively we negotiate the contract.
We'll also work within your budget. And when it's all said and done, we'll put together a contract that's best for you.
Step 7 – Obtain financing
After the deal is complete, you'll begin working with your mortgage lender to close the loan.
It shouldn't take very long at all if you've been pre-approved, but you'll need to keep in close contact with your lender.
And I'll handle 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) outlining closing costs from your lender within three days of getting your application.
The estimate is formed from the loan amount, and RESPA requirements order that it has to include all closing costs and fall within a narrow range of accuracy. I'll examine the estimate and let you know if it all looks permissible.
Then it's time to close on your house. This will most likely take place at a title company or escrow office and is often a smooth and relaxing event.
Step 9 – Move in
Congratulations! Now you can move into your new house. Enjoy it. And if you have any questions, just call me at 800-252-6633 or e-mail me at .