9 Steps to Owning

Are you looking to purchase a home

Buying a home is an intimidating event for many people, but with some planning ahead of time, it's not very difficult. I like to supply buyers with a road map of the whole deal so they'll understand exactly what to expect. These are my nine steps to buying a home.

Step 1 – Prepare to purchase a home
There are a lot of things you'll want to take into account before starting your home search. You'll want to put together an outline of must-have features, plan for what neighborhoods you want to live in, and begin planning around your budget. Ensuring your mortgage payment is less than or around a third of your net monthly income is a good guideline to follow.

Step 2 – Contact a real estate agent in Oklahoma City
This is where I come in. I'll set up a time to meet so we can talk about your real estate needs and get an idea of your upcoming plans. We'll discuss the mortgage and housing industries, other economic factors that could potentially affect your buying decision today or in the future, as well as neighborhoods and schools in the Oklahoma City area.

In addition, I'll assist you with getting started on your loan. Berkshire Hathaway HomeServices - Anderson Properties partners with some of the finest mortgage professionals in Oklahoma City, so you can rest assured that you're in great hands. They will help you figure out which kind of loan is best for you, as well as help you get approved.

Step 3 – Start house-hunting
After our first meeting, I'll start searching for houses on the market that are a good fit for you. I'll research many of the houses and exclude the bad ones, and then we'll schedule appointments to view the homes at a time that's convenient for you.

As we tour the houses, I'll call attention to positive features, as well as negative ones. I'll even ask you about things you like and don't like. As a rule, buyers amend their list of must-haves as we tour houses and some items become more necessary than others. If that's the case, I'll search the listings one more time and trim it down to the house you've been wishing for.

Step 4 – Get a feel for the market
Your agent's knowledge of the Oklahoma City housing market is a crucial component in your house search. And I can assure you I'm familiar with all the neighborhoods and school districts, and I'll let you know some districts are "hot" and call for prompt action and the others that are "cold" and allow for thoughtful examination.

When we tour houses, I'll let you know when the seller's list price has room for negotiation and also when I think the house is "priced to sell." Be mindful and be sure to ask plenty of questions, as every REALTOR® will convince you they truly know the home market. If it appears they don't know everything, call me at (405) 755-9052 or e-mail me at denise@denisewhitehead.com, and I'll be happy to answer any questions you have. My understanding of the market will keep you a step ahead through the entire process.

Step 5 – Find the home you've been waiting for
I'm confident we'll find the home of your dreams in Oklahoma City, and when we do, I'll thoroughly create your purchase offer. The offer will be made to suit your needs. Whenever necessary, I never forget to make contracts contingent upon items like acquiring financing and the results of the home inspection.

When we turn in your offer, most likely you'll need to present "earnest money." This is a cash deposit made to the seller to secure an offer to purchase the property. The amount is typically put towards the cost of closing. If the offer is accepted, we should close on the property about 30 to 60 days afterward. This allows enough time for your mortgage financing.

Step 6 – Negotiate the deal
A lot of contracts don't close on the initial offer – it's extremely common to receive a counter offer. But don't let this discourage you. We'll talk over whether or not to consent to the counter offer, submit our own counter offer, or refuse the seller's offer and move on.

How aggressively we negotiate the deal depends on market conditions. In addition, we'll work within your financing budget. And when it's all said and done, we'll formulate a deal that is best for you.

Step 7 – Get your loan
After we sign the final deal, you'll start working with your lender to close the loan. This won't be a long process at all if you're pre-approved, but you should to stay in close contact with your lender. And I'll deal with all the property information your mortgage lender will need to close the loan.>

Step 8 – Close the deal
You'll get a Good Faith Estimate (GFE) outlining closing costs from your mortgage lender within three days of getting your loan application. The estimate rests on the loan amount. RESPA requirements require that it has to include all closing costs and be within a close range of accuracy, and I'll study the estimate and let you know if it all looks adequate.

Then it's time to close on your home. This will most likely happen at a title company or escrow office and is often a smooth and hassle-free occasion.

Step 9 – Move in
Success! Now you can move into your new home. Enjoy it. And if you need anything or have any questions, simply contact me at (405) 755-9052 or send me an e-mail.

If you have any questions regarding any of this information or if you're ready to get started, simply call or email.