Contemplating purchasing a new home in South Jordan? MOVE Utah Real Estate can help.
For most people, buying a home can be a stressful event. But with a little planning ahead of time, it's not that confusing.
So you understand exactly what to expect, we like to give our buyers an outline of the whole deal.
Below are our nine steps to purchasing a home.
When you're ready to get started, just contact us here or send us an e-mail
. We're glad to address questions you have about this information.
Step 1 – Get ready to buy a home
Before you start searching for a home, there are several things you need to contemplate.
It's likely that you'll want to put together a list of items you want, get an idea of what school districts and neighborhoods you want to live in, and start planning around your budget.
A good principle to follow is that your mortgage payment should be no more than 30 percent of your net monthly income.
Step 2 – Talk to a real estate agent
That's where we come in.
We can schedule a time to meet so we can talk about your real estate needs and get an idea of your future plans.
We'll discuss the mortgage industry, other economic factors that could potentially affect your buying decision today or in the future, as well as neighborhoods and school districts in the Salt Lake area.
In addition, We'll help you begin the loan process.
There are some great mortgage professionals in Utah, and we partner with a lot of them, so you'll be in great hands.
They'll assist you in figuring out which type of loan is best for you and help you get qualified.
Step 3 – Start house-hunting
After we meet for the first time, our team will start looking for homes on the market that meet your needs.
We'll research many of the houses and eliminate the duds, and then we'll schedule appointments to view the homes when it's convenient for you.
As we tour the houses, we'll point out positive features and bad ones. We'll also ask you to talk about things you like and dislike.
As a rule, buyers change their must-have list as we view homes and some things become more substantial than others.
If such is the case, we'll look through all the listings again and narrow it down to the home of your dreams.
Step 4 – Know the market
Our understanding of the South Jordan home market is a crucial asset in your search. We're informed of all the neighborhoods and school districts, and we will alert you to some districts are "hot" and demand prompt action and the others that are "cold" and allow for more examination.
As we view houses, we'll let you know when the seller's asking price has room for bargaining and when we think the house is "priced to sell."
When working with an agent, be on guard and be sure to ask a lot of questions. Every REALTOR® will convince you they understand the home market.
If things don't add up, call us at 801.205.7355 or e-mail us at firstname.lastname@example.org, and wed be glad to answer any questions you may have. Our knowledge of the market will keep you a step ahead through the entire process.
Step 5 – Find the home of your dreams
We're certain we'll find the house of your dreams in Utah, and when we do, we'll thoroughly create your home purchase offer. The offer will be tailored exactly to your needs. Whenever necessary, we never forget to make contracts contingent upon items like your ability to secure financing and the results of the home inspection.
When we send in your offer, you'll probably need to submit "earnest money." This is a cash deposit submitted to a home seller to secure an offer to buy the property, and it's most often put towards the cost of closing. If the offer is accepted, we should close on the property within 30 to 60 days after. This allows plenty of time for your mortgage financing.
Step 6 – Negotiate the deal
Most contracts don't close on the beginning offer – it's very common to receive a counter offer. Don't let it discourage you. We'll figure out whether or not to accept the counter offer, propose our own counter offer, or reject the seller's offer and go on.
Market circumstances will play a big part in how aggressively we negotiate the deal.
We'll also work within your financing budget. And when it's all said and done, we'll compose a deal that works well for you.
Step 7 – Obtain a loan
Once the contract is signed, you'll start working with your lender to close the loan.
If you've been pre-approved, it shouldn't take much time at all, but you'll want to stay in close contact with your lender.
And we'll manage all the property information your lender needs to close the loan.
Step 8 – Close the deal
You'll get a Good Faith Estimate (GFE) outlining your closing costs from your mortgage lender within three days of accepting your application.
This estimate is based on the loan amount. RESPA requirements order that it has to contain all closing costs and be within a precise range of accuracy, and we'll analyze the estimate and let you know if it all looks okay.
Then it's time to close on your home. This should happen at a title company or escrow office and will most likely be a smooth and relaxed event.
Step 9 – Move in
Congratulations! It's time to move into your new home. Enjoy it. And if you need anything, make sure you call us at 801.205.7355 or send us an e-mail.