Step 1 – Before you start your home search
You should make a list of must-haves like a large backyard or eat-in-kitchen. Get an idea of what school districts and neighborhoods you'd like to live in. If you are not familiar with the area, call an expert real estate Buyer’s Agent. Lastly, create a budget. The most common rule of thumb is to limit your purchase to not more than 33% of your monthly income.
Step 2 – Talk to a Buyer’s real estate agent You should make a list of must-haves like a large backyard or eat-in-kitchen. Get an idea of what school districts and neighborhoods you'd like to live in. If you are not familiar with the area, call an expert real estate Buyer’s Agent. Lastly, create a budget. The most common rule of thumb is to limit your purchase to not more than 33% of your monthly income.
As a Buyer’s agent I have a duty to represent you and only you in the transaction. I'd be happy to schedule a time to meet with you and communicate with you about why you want to buy a home and get an idea of your plans for the future. We'll discuss neighborhoods, schools in the El Paso area, the mortgage industry, and any additional economic factors that may affect your purchase.
I can also help you begin the loan process. There are some excellent mortgage professionals in El Paso. They can help you determine which type of loan is best for you, as well as help you get pre-qualified.
Step 3 – Begin house hunting
After your initial meeting with a real estate agent, He/she will begin finding available homes on the market that are good for you. The real estate agent will research the houses that meet your criteria and eliminate the bad ones, and then she’ll book appointments to view the houses at a time that's convenient for you. When touring homes with your agent, make a note of the things you liked or didn’t like.
Step 4 – Understanding the marketAfter your initial meeting with a real estate agent, He/she will begin finding available homes on the market that are good for you. The real estate agent will research the houses that meet your criteria and eliminate the bad ones, and then she’ll book appointments to view the houses at a time that's convenient for you. When touring homes with your agent, make a note of the things you liked or didn’t like.
An agent's awareness of the El Paso market is a fundamental factor in your home search. When you tour houses, your El Paso Texas REALTOR® should tell you when the asking price has room for bargaining and also when he think the house is "priced to sell." When working with an agent, trust your instincts and be sure to ask a lot of questions, as every REALTOR® in El Paso will claim to truly understand the market. If things don't add up, contact me at 915-873-8646 or e-mail me, and I'll be happy to answer your questions. My market expertise will help you stay a step ahead through the entire process.
Step 5 – Find the home you've been looking for
With the help of your Buyer’s Agent you will find the home of your dreams in the El Paso area. As your REALTOR®, I'll develop a purchase offer that is best for you – not the seller. The offer will be tailored exactly to your needs, including contingencies and concessions.
With the help of your Buyer’s Agent you will find the home of your dreams in the El Paso area. As your REALTOR®, I'll develop a purchase offer that is best for you – not the seller. The offer will be tailored exactly to your needs, including contingencies and concessions.
Step 6 – Negotiate the deal
It's extremely common to receive a counter offer from the Seller. When I receive it I will discuss whether or not to accept the counter offer, submit our own counter offer, or reject the seller's offer and go on. Market conditions will play a big part in how aggressively we negotiate the contract. In addition, we'll work within your financing limits. And when it's all said and done, we'll compose a transaction that's best for you. When you contact the agent on the real estate sign, you will be dealing with the Seller’s Agent who will attempt to act as a Dual Agent.
Upon signing the contract, you'll be working with your lender to complete the loan. If you're pre-qualified, this won't take much time at all, but you'll want to stay in close contact with your mortgage lender. Your lender will supply you with a Good Faith Estimate (GFE) of your closing costs within three days of receiving your application and outlines closing costs from your mortgage lender. The Federal law called RESPA requires that the GFE include all closing costs and fall within a tight range of accuracy. And I'll be working with your mortgage lender to provide all the information they need to complete the loan.
Step 8 – Closing on your first home
If your lender has finished approving your loan he will send “closing documents” to the escrow office. The closing will probably take place at a title company or escrow office and your real estate agent and even your mortgage broker may be in attendance with you. As a Buyer’s Agent, I attend all closings with my clients.
If your lender has finished approving your loan he will send “closing documents” to the escrow office. The closing will probably take place at a title company or escrow office and your real estate agent and even your mortgage broker may be in attendance with you. As a Buyer’s Agent, I attend all closings with my clients.
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