Are you contemplating buying your new home in Westchester? A. T. White Realty Ltd. can help.
Purchasing a home intimidates a lot of people, but it's not all that complicated with a bit of planning ahead of time. We like to give buyers a road map of the entire deal so they know exactly what to expect. These are our nine steps to buying a home.
Step 1 – Prepare to purchase
There are several things you should do prior to beginning your home search. When you start your search, you'll want to make an index of items you want, get a feel for what school districts you want to live in, and start planning your budget. Ensuring your mortgage payment is no more than 30 percent of your net monthly income is a good principle to follow.
Step 2 – Get with a real estate agent in Westchester
This is where A. T. White Realty Ltd. can help. We can set up a time to meet so we can talk about why you want to buy a home and get an idea of your future plans. We'll talk about everything from neighborhoods, schools in the Westchester area, the mortgage and housing industries, to any other economic factors that might affect your purchase today or in the future.
We can also help you get started on your loan. There are some great mortgage professionals in Westchester, and we work with a lot of them, so you're in great hands. They will assist you with choosing which kind of loan is best for you and help you get qualified.
Step 3 – Start your home search
After our initial meeting, we'll begin looking for available homes on the market that are good for you. We'll research many of the houses and remove the bad ones, and then we'll book appointments to view the homes when it's most convenient for you.
As we tour homes, we'll show you the positive features and bad ones. we'll also ask you about things you like and don't like. It's pretty common for buyers to amend their must-have list as we view houses and some things become far more necessary than others. If that happens, we'll search all the listings again and trim it down to the home of your dreams.
Step 4 – Get a grasp of the market
An agent's understanding of the Westchester home market is a crucial aspect in your home search. And we assure you we're very familiar with all the neighborhoods and school districts, and we will communicate what areas are "hot" and demand immediate action and the ones that are "cool" and allow for careful examination.
When we tour homes, we'll let you know when the seller's asking price has room for bargaining and when we trust the home is "priced to sell." Any REALTOR® in Westchester will convince you they truly know the housing market, but take note, and be sure to ask lots of questions. If things don't add up, just call us at (914) 793-4100 or e-mail us at CAWT240@gmail.com, and we'll be more than happy to answer any questions you might have. Our knowledge of the market will help you stay a step above the rest through the entire deal.
Step 5 – Find the home of your dreams
We're confident we'll find your dream home in the Westchester area, and when we do, we'll precisely create your real estate purchase offer. The offer will be written to suit your needs. Whenever necessary, We never forget to make contracts contingent upon items like obtaining financing and the results of the home inspection.
Upon presenting your purchase offer, you'll want to present "earnest money." This is a cash deposit given to a seller to secure the offer to buy the property and is most often applied to the closing costs. If the offer is accepted by the seller, we should close within 30 to 60 days afterward. This allows necessary time for your mortgage financing.
Step 6 – Negotiate
Most deals don't close on the first offer. It's really common to receive a counter offer. Don't let it intimidate you. We'll talk about whether or not to agree to the counter offer, propose our own counter offer, or refuse the seller's offer and move on.
Market conditions determine how aggressively we negotiate the contract. In addition, we'll work within your financing constraints. And at the end of the day, we'll assemble a deal that's best for you.
Step 7 – Obtain financing
Once we sign the final deal, you'll begin working with your lender to close the loan. If you're pre-qualified, this won't take long at all, but you'll want to keep in close contact with your mortgage lender. And we'll take care of all the property information your mortgage lender needs to close the loan.>
Step 8 – Close the deal
You'll get a Good Faith Estimate (GFE) outlining closing costs from your lender within three days of receiving your loan application. This estimate is based on the loan amount, and RESPA requirements order that it has to include all closing costs and fall within a narrow range of accuracy. we'll analyze the estimate and let you know if it all looks all right.
Then it's time to close on your home. This will probably occur at a title company or escrow office and will likely be a smooth and stress-free event.
Step 9 – Move in
You made it! It's time to move into your new home. Enjoy it. And if you need anything, be sure to call us at (914) 793-4100 or send us an e-mail.