Buying or selling a home?

With a little up-front planning, purchasing a home isn't that confusing, but the event can be stressful for a lot of people. So they know exactly what to expect, I'll give buyers a road map of the entire deal. Here are my nine steps to purchasing a home. If you have questions about this information or if you're ready to get started, just contact me here or e-mail me at .

Step 1 – Get ready to purchase a home
Before you start your home search, there are several things you need to contemplate. When you start your search, you'll probably want to put together an index of features you want to have, get an idea of what school districts you want to live in, and begin planning your budget. Keeping your mortgage payment less than or close to 1/3 of your monthly income is a good principle to follow.

Step 2 – Speak with a real estate agent in Tulsa
That's where I come in. We'll book 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 neighborhoods, school districts in the Tulsa area, the mortgage industry, and any additional economic factors that may affect your buying decision today or in the future.

In addition, I'll help you get started on your loan. There are some great mortgage professionals in Tulsa, and I work with a lot of them, so you can rest assured that you're in great hands. They can assist you with deciding which kind of loan is best for you and help you get approved.

Step 3 – Start looking for a house
After our initial meeting, I'll begin searching for available homes on the market that meet your needs. I'll get a sneak peek of many of the houses and ignore the bad ones, and then we'll set up appointments to view the homes whenever it's most convenient for you.

When we tour homes, I'll call attention to positive features and bad ones. I'll even ask you what things you like and dislike. It's common for buyers to amend their wish list as we view houses and some items become more essential than others. If that happens, I'll look through all the listings one more time and trim it down to the house you've been wishing for.

Step 4 – Know the housing market
My understanding of the Tulsa housing market is a necessary factor in your home search. I am acquainted with all the neighborhoods and schools, and I can alert you to which neighborhoods are "hot" and require prompt action and some that are "cool" and allow for thoughtful analysis.

As we view houses, I'll let you know if the seller's list price has room for bargaining or if I believe the home is "priced to sell." When working with an agent, be on guard and make sure you ask plenty of questions. Every real estate agent will convince you they truly understand the housing market. If things don't add up, contact me at (918) 970-4000 or e-mail me at , and I'll be glad to answer any questions you might have. My understanding of the market will keep you a step above the rest through the entire process.

Step 5 – Find the house you've been waiting for
I know we'll find the house of your dreams in the Tulsa area. When we do, I'll precisely develop your real estate purchase offer. The offer will be tailored with your needs in mind and the home, including several contingencies. A few examples are acquiring financing, carrying out the inspection, and a clean title.

When we turn in your purchase offer, you'll want to submit "earnest money." This is a cash deposit given to a seller to secure the offer to buy 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 after. This allows plenty of time for your mortgage financing.

Step 6 – Negotiate
A lot of deals don't close on the first offer. It's pretty common to receive a counter offer. But don't let it intimidate you. We'll consider whether or not to take the counter offer, submit our own counter offer, or decline the seller's offer and move on.

How aggressively we negotiate the deal depends on market circumstances. In addition, we'll work within your financing budget. And at the end of the day, we'll formulate a contract that works well for you.

Step 7 – Secure your loan
After the contract is signed, you'll start working with your mortgage lender to close the loan. If you're already pre-approved, it won't take much time at all. But you'll want to stay in close contact with your mortgage lender. And I'll look after all the property information your mortgage lender needs to close the loan.

Step 8 – Close the deal
Your lender will furnish you with a Loan Estimate (LE) detailing your closing costs within three days of receiving your loan application. You'll get a Loan Estimate (LE) of closing costs from your lender within three days of accepting your loan application. The estimate is based on the loan amount. RESPA requirements dictate that it has to involve all closing costs and fall within a tight range of accuracy, and I'll study the estimate and let you know if it all looks good.

Then we'll close on your home. This will most often occur at a title company or escrow office and will most likely be a smooth and relaxed affair.

Step 9 – Move in
Congratulations! It's time to move into your new house. Enjoy it. And if you have any questions, make sure you call me at (918) 970-4000 or e-mail me at .

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