Are you contemplating buying a home in the Ozarks?
Ozarks Realty Company can help.
Purchasing a home is a stressful event for many people, but it isn't very complex with some planning ahead of time.
So you'll understand exactly what to expect, we like to furnish our buyers with an overview of the whole deal.
Here are our nine steps to buying a home.
Step 1 ? Prepare to purchase
There are a lot of things you'll want to contemplate prior to starting your home search.
When you start your search, you'll want to make a checklist of items you want, get an idea of what school districts and neighborhoods you'd like to live in, and begin planning your budget.
Ensuring your mortgage payment is less than or close to 1/3 of your net monthly income is a good rule to follow.
Step 2 ? Speak with a real estate agent in Flippin
This is where we come in.
We can arrange a time to get together so we can talk about why you want to buy a home and get an idea of your future 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 school districts in the Flippin area.
We'll also assist you with getting started on your loan.
There are some great mortgage professionals in Flippin, and we work with a lot of them, so you're in great hands.
They can assist you with figuring out which type of loan is best for you and help you get qualified.
Step 3 ? Start looking for a house
After our initial meeting, we'll start looking for available homes on the market that best suit you.
We'll get a sneak peek of most of the houses and throw out the bad ones, and then we'll set up appointments to tour the houses whenever it's convenient for you.
As we view the houses, we'll identify good features and negative ones. And we'll ask you to tell us about things you like and don't like.
It's widely common for buyers to change their wish list as we tour homes and some features become far more substantial than others.
If that's the case, we'll look through all the listings again and trim it down to the home of your dreams.
Step 4 ? Get a feel for the housing market
An agent's awareness of the Flippin home market is a crucial factor in your house search. And we assure you we're in touch with all the neighborhoods and schools, and we will let you know which districts are "hot" and call for immediate action and the rest that are "cool" and allow for thoughtful examination.
As we view houses, we'll make sure to communicate if the list price has room for negotiation or if I believe the house is "priced to sell."
Be careful and make sure you ask plenty of questions, as every REALTOR? will claim to truly understand the market.
If it appears they don't know everything, call us at 870-453-2217 or e-mail us at firstname.lastname@example.org, and we'll be happy to answer any questions you have. Our understanding of the market will keep you a step above the rest throughout the entire process.
Step 5 ? Find the home you've been looking for
We know we'll find your dream home in Flippin. When we do, we'll thoroughly develop your purchase offer. The offer will be tailored keeping your needs in mind, including many contingencies. A few examples are acquiring financing, finishing the home inspection, and a clear title.
When we send in your purchase offer, you'll probably need to present "earnest money." This is a cash deposit made to a seller to secure an offer to purchase the property, and it's most often put towards the cost of closing. If the offer is accepted, we should close about 30 to 60 days after. This allows sufficient time for your mortgage financing.
Step 6 ? Negotiate
Most contracts aren't closed on the beginning offer, and it's widely common to receive a counter offer. Don't let it alarm you. We'll figure out whether or not to accept the counter offer, propose our own counter offer, or decline the seller's offer and move on.
Market conditions determine how aggressively we negotiate the deal.
We'll also work within your financing budget. And when it's all said and done, we'll formulate a contract that works well for you.
Step 7 ? Secure a loan
Once we sign the final sales contract, you'll start working with your mortgage lender to close the loan.
This shouldn't be a long process at all if you're pre-qualified, but you'll want to stay in close contact with your lender.
And we'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 receiving your loan application.
This estimate rests on the loan amount, and RESPA requirements require that it has to contain all closing costs and be within a narrow range of accuracy. we'll examine the estimate and let you know if it all looks okay.
Then it's time to close on your home. This will most likely take place at a title company or escrow office and should be a smooth and comfortable occasion.
Step 9 ? Move in
You made it! It's time to move into your new home. Enjoy it. And if you need anything, make sure you call us at 870-453-2217 or send us an e-mail.