9 Steps to Owning

Buying or selling a home in Southeast? Nu Vision Realty can help.

Purchasing a home is stressful for a lot of people, but it's not all that difficult with some up-front planning. So you'll know exactly what to expect, I like to give my buyers an outline of the whole deal. Here are my nine steps to purchasing a home.

Should you have questions regarding any of this information or if you're prepared to get started, simply contact me here or send e-mail to Ron@nu-vision.com.

Step 1 – Get ready to buy a home

Before you begin your home search, there are several things you'll want to do. You'll want to put together a check list of features you want to have, get a feel for what school districts and neighborhoods you'd like to live in, and start working on your budget. Keeping your mortgage payment less than or close to 30 percent of your monthly income is a good rule to follow.

Step 2 – Contact a real estate agent

This is where Nu Vision Realty comes in. I'd like to arrange a time to meet with you and talk about why you want to buy a home and get an idea of your future plans. We'll discuss everything from neighborhoods, schools in the Southeast area, the mortgage and housing industries, to any other economic factors that could potentially affect your buying decision today or in the future.

I'll also assist you in getting started on your loan. There are some excellent mortgage professionals in Southeast, and I work with a lot of them, so you'll be in great hands. They'll assist you in determining which kind of loan is best for you and help you get qualified.

Step 3 – Start looking

After our initial meeting, I'll start searching for houses on the market that meet your needs. I'll research many of the homes and reject the bad ones, and then we'll set up appointments to tour the houses whenever it's convenient for you.

When we view houses, I'll identify positive features and negative ones. I'll also ask you to point out what things you like and don't like. It's common for buyers to change their list of must-haves as we tour houses and some features become far more crucial than others. If that's the situation, I'll go back through all the listings again and trim it down to the home of your dreams.

Step 4 – Get a grasp of the housing market

Your agent's knowledge of the Southeast housing market is a necessary component in your home search. And I can assure you I'm informed of all the school districts and neighborhoods, and I will alert you to which districts are "hot" and require immediate action and the ones that are "cold" and allow for careful consideration.

When we tour houses, I'll be sure to tell you when the list price has room for negotiation and also when I know the house is "priced to sell." When working with an agent, be on guard and be sure to ask a lot of questions, as any REALTOR® in Southeast will claim to understand the market. If it appears they don't know everything, just call me at (734) 667-1597 or e-mail me at Ron@nu-vision.com, and I'd be more than happy to answer any questions you might have. My market knowledge will keep you a step above the rest throughout the entire process.

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Step 5 – Find your dream house

I'm positive we'll find the house of your dreams in the Southeast area, and when that happens, I'll precisely create your real estate purchase offer. The offer will be tailored to suit your needs. Whenever necessary, I never forget to make contracts contingent upon items like your ability to secure financing and the results of the home inspection.

When submitting your offer, you'll likely want to submit "earnest money." This is a cash deposit submitted to a home seller to secure the offer to purchase the property and is usually applied to the cost of closing. If the offer is accepted by the seller, we should close on the home within 30 to 60 days afterward. This allows sufficient time for your mortgage financing.

Step 6 – Negotiate

Most deals aren't closed on the beginning offer, and it's extremely common to receive a counter offer. But don't let it alarm you. We'll talk about whether or not to agree to the counter offer, propose our own counter offer, or reject the seller's offer and go on.

Market circumstances will play a large role in how aggressively we negotiate the contract. In addition, we'll work within your budget. And when it's all said and done, we'll formulate a contract that works well for you.

Step 7 – Obtain your loan

Once the deal is signed, you'll start working with your lender to close the loan. This shouldn't be a long process at all if you're already pre-approved, but you'll need to stay in close contact with your mortgage lender. And I'll deal with 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) detailing closing costs from your mortgage lender within three days of receiving your application. This estimate rests on the loan amount, and RESPA requirements mandate that it has to include all closing costs and be within a close range of accuracy. I'll examine the estimate and let you know if it all looks permissible.

Then it's time to close on your house. This will probably happen at a title company or escrow office and will probably be a smooth and comfortable occasion.

Step 9 – Move in

Success! Now you can move into your new house. Enjoy it. And if you have any questions, simply contact me at (734) 667-1597 or send me an e-mail.

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