Buying a home in the Ozarks
Purchasing a home can be stressful for most people. However, with a little up-front planning, it isn't all that complicated. I like to supply buyers with an outline of the whole deal so they know exactly what they can expect. Below are my nine steps to purchasing a home.
Step 1 – Prepare to buy
Before you start searching for a home, there are many things you need to do. It's likely that you'll want to assemble a list of must-have features, get a plan of what neighborhoods you want to live in, and start planning your budget. Ensuring your mortgage payment is around 1/3 of your net monthly income is a good guideline to adhere to.
Step 2 – Get in touch with a real estate agent
That's where I can help. I'd be happy to arrange a time to get together with you and speak with you regarding why you want to buy a home and get an idea of your upcoming plans. We'll discuss everything from neighborhoods, schools in the Flippin area, the mortgage and housing industries, to any other economic factors that could potentially affect your buying decision today or in the future.
In addition, I'll help you start the loan process. There are some excellent mortgage professionals in Flippin, and I work with a lot of them, so you're in great hands. They will assist you with determining which type of loan is best for you and help you get approved.
Step 3 – Begin looking for a home
After we meet for the first time, I'll start searching for available houses on the market that meet your needs. I'll preview many of the homes and throw out the duds, and then we'll set up appointments to tour the houses at a time that's convenient for you.
 As we view homes, I'll identify positive features and bad ones. I'll also ask you to talk about things you like and don't like. Generally, buyers update their must-have list as we view houses and some items become far more important than others. If that's the case, I'll search the listings one more time and trim it down to the house of your dreams.
Step 4 – Understand the market
An agent's knowledge of the Flippin market is a leading factor in your home search. And I can assure you I'm informed of all the schools and neighborhoods, and I will communicate some areas are "hot" and call for prompt action and others that are "cool" and allow for thoughtful consideration.
As we tour houses, I'll make sure to communicate if the list price has room for negotiation or if I believe the home is "priced to sell." Be mindful and make sure you ask plenty of questions, as every REALTOR® in Flippin will convince you they truly know the home market. If things don't add up, call me at 870-453-2217 or e-mail me at info@ozarksrealty.com, and I'll be more than happy to answer any questions you may have. My knowledge of the market will keep you a step above the rest throughout the entire process.
Step 5 – Find your dream house
I'm positive we'll find your dream house in the Flippin area, and when we do, I'll precisely create your real estate purchase offer. The offer will be written to suit your needs. Whenever necessary, I never forget to make contracts contingent upon items like obtaining financing and the results of the home inspection.
 When we send in your purchase offer, you'll need to present "earnest money." This is a cash deposit made to the seller to secure the offer to buy the property. The amount is often put towards the closing costs. If the offer is accepted by the seller, we should close on the home about 30 to 60 days after. This allows sufficient time for your mortgage financing.
Step 6 – Negotiate
Most contracts don't close on the initial offer. It's really common to receive a counter offer. But don't let this alarm you. We'll figure out whether or not to take the counter offer, submit our own counter offer, or reject the seller's offer and go on.
How aggressively we negotiate the deal depends on the state of the market. We'll also work within your financing limits. And when it's all said and done, we'll formulate a contract that is best for you.
Step 7 – Get a loan
Once we sign the final contract, you'll start working with your mortgage lender to close the loan. If you're pre-approved, this shouldn't be a long process at all. However, you'll need to stay in close contact with your lender. And I'll take care of 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) of closing costs from your mortgage lender within three days of taking your application. The estimate rests on the loan amount, and RESPA requirements order that it has to include all closing costs and be within a precise range of accuracy. I'll go over the estimate and let you know if it all looks permissible.
Then we'll close on your home. This will most often occur at a title company or escrow office and is often a smooth and hassle-free occasion.
Step 9 – Move in
You made it! Now you can move into your new home. Enjoy it. And if you need anything or have any questions, just contact me at 870-453-2217 or send me an e-mail.
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