Looking to buy a new home in Venice? Bosshardt Realty Services can help.
Purchasing a home is a stressful event for a lot of people, but it isn't all that difficult with some planning ahead of time.
We like to give buyers an outline of the entire deal so they know exactly what they can expect.
Here are our nine steps to purchasing a home.
Step 1 – Prepare to buy a home
Before you begin looking for a home, there are a lot of things you need to contemplate.
When you begin your search, you'll probably want to assemble an outline of items you want, get an idea of what school districts and neighborhoods you'd like to live in, and begin planning your budget.
A good principle to follow is that your mortgage payment should be less than 1/3 of your monthly income.
Step 2 – Contact a real estate agent
This is where Bosshardt Realty Services can help.
We can schedule a time to get together so we can talk about your real estate needs and get an idea of your future plans.
We'll talk about everything from neighborhoods, schools in the Venice area, the mortgage industry, to any other economic factors that might affect your purchase today or in the future.
We'll also help you start the loan process.
We partner with some of Venice's best mortgage professionals, so you're in great hands.
They can assist you with determining which type of loan is best for you and help you get approved.
Step 3 – Start house hunting
After our initial meeting, we'll start searching for homes on the market that meet your needs.
We'll preview most of the houses and throw out the bad ones, and then we'll book appointments to tour the homes when it's convenient for you.
As we view houses, we'll call attention to good features, as well as bad ones. we'll also ask you about things you like and don't like.
Oftentimes, buyers change their list of must-haves as we view homes and some features become more essential than others.
If that's the situation, we'll search the listings once again and trim it down to the house you've been wishing for.
Step 4 – Know the housing market
Our knowledge of the Venice home market is an essential advantage in your house search. We are acquainted with all the schools and neighborhoods, and we can communicate which areas are "hot" and demand immediate action and the rest that are "cold" and allow for careful consideration.
When we view houses, we'll be sure to tell you when the list price has room for negotiation and also when we think the house is "priced to sell."
When working with an agent, be careful and make sure you ask lots of questions. Any REALTOR® in Venice will convince you they understand the housing market.
If things don't add up, just call us at 941-584-0889 or e-mail us at firstname.lastname@example.org, and we'll be more than happy to answer any questions you might have. Our market knowledge will help you stay a step ahead through the entire deal.
Step 5 – Find your dream house
We know we'll find your dream house in Venice, and when we do, we'll carefully develop your home purchase offer. The offer will be tailored to suit your needs. Whenever necessary, We never forget to make contracts contingent upon items like acquiring financing and the results of the home inspection.
When submitting your offer, you'll likely want to present "earnest money." This is a cash deposit given to the seller to secure the offer to buy the property. The amount is typically put towards the closing costs. If your offer is accepted by the seller, we should close about 30 to 60 days after. This allows plenty of time for your mortgage financing.
Step 6 – Negotiate the deal
Most deals don't close on the initial offer, and it's widely common to receive a counter offer. But don't let it discourage you. We'll talk over whether or not to agree to the counter offer, present our own counter offer, or decline the seller's offer and move on.
Market conditions determine how aggressively we negotiate the contract.
We'll also work within your financing limits. And at the end of the day, we'll compose a contract that works well for you.
Step 7 – Get a loan
After the contract is finished, you'll begin working with your lender to close the loan.
It shouldn't be a long process at all if you've been pre-approved, but you need to stay in close contact with your mortgage lender.
And we'll care for all the property information your lender will need to close the loan.>
Step 8 – Close the deal
Your mortgage lender will provide you with a Good Faith Estimate (GFE) detailing closing costs within three days of receiving your application.
The estimate depends on the loan amount, and RESPA requirements dictate that it has to involve all closing costs and be within a tight range of accuracy. we'll examine the estimate and let you know if it all looks all right.
Then it's time to close on your house. This will likely take place at a title company or escrow office and will probably be a smooth and calm event.
Step 9 – Move in
You made it! Now you can move into your new house. Enjoy it. And if you have any questions, simply call us at 941-584-0889 or send us an e-mail.