Buying a new home in San Antonio
Purchasing a home is stressful for most people, but with some up-front planning, it's not that complex.
So they'll understand exactly what to expect, I like to give buyers an outline of the whole deal.
These are my nine steps to purchasing a home.
Should you have any questions about any of this information or if you're ready to get started, you can contact me here or e-mail me at .
Step 1 – Prepare to buy
There are plenty of things you should consider prior to starting your home search.
When you begin your search, you'll want to assemble a checklist of features you need to have, plan for what neighborhoods you want to live in, and begin working on your budget.
Ensuring your mortgage payment is no more than 30 percent of your monthly income is a good rule of thumb to follow.
Step 2 – Speak with a real estate agent
This is where I can help.
I'd love to set up a time to get together with you and talk about your real estate needs and get an idea of your plans for the future.
We'll talk about 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 San Antonio area.
In addition, I'll help you begin the loan process.
Barrientos Properties partners with some of San Antonio's finest mortgage professionals, so you're in great hands.
They'll help you determine which type of loan is best for you, as well as help you get qualified.
Step 3 – Begin looking for a home
Following our initial meeting, I'll begin looking for homes on the market that are a good fit for you.
I'll research most of the houses and remove the duds, and then we'll book appointments to view the homes at a time that's convenient for you.
When we tour houses, I'll identify positive features, as well as bad ones. And I'll ask you about things you like and dislike.
For the most part, buyers update their must-have list as we view homes and some things become more substantial than others.
If such is the case, I'll go back through the listings one more time and narrow it down to the house of your dreams.
Step 4 – Know the market
An agent's knowledge of the San Antonio housing market is an imperative element in your house search. And I can assure you I'm informed of all the neighborhoods and school districts, and I will alert you to certain neighborhoods are "hot" and warrant prompt action and others that are "cold" and allow for more examination.
When we tour homes, I'll let you know when the asking price has room for negotiation and when I trust the home is "priced to sell."
Any REALTOR will claim to know the market, but be wary, and be sure to ask your agent a lot of questions.
If it seems like they don't know everything, just call me at 210.826.4088 or e-mail me at , and I'll be glad to answer any questions you have. My knowledge of the market will help you stay a step ahead through the entire deal.
Step 5 – Find the house you've been looking for
We'll find the house of your dreams in the San Antonio area, and when we do, I'll thoroughly create your home purchase offer. The offer will be tailored exactly to your needs and the home, including some contingencies, such as getting financing, finishing the home inspection, and a clean title.
When we send in your offer, you'll probably need to present "earnest money." This is a cash deposit made to a home seller to secure the offer to purchase the property. The amount is often put towards the closing costs. If the offer is accepted, we should close on the home about 30 to 60 days after. This allows sufficient time for your mortgage financing.
Step 6 – Negotiate
A lot of contracts don't close on the first offer. It's widely common to receive a counter offer. But don't let this intimidate you. We'll talk about whether or not to agree to the counter offer, submit our own counter offer, or decline the seller's offer and move on.
Market circumstances will play a large role in how aggressively we negotiate the contract.
We'll also work within your financing budget. And when it's all said and done, we'll compose a contract that works well for you.
Step 7 – Obtain your loan
Upon finishing the deal, you'll start working with your lender to close the loan.
If you're already pre-approved, it shouldn't take very long at all, but you'll want to stay in close contact with your lender.
And I'll care for all the property information your lender needs to close the loan.
Step 8 – Close the deal
You'll get a Good Faith Estimate (GFE) detailing your closing costs from your mortgage lender within three days of getting your application.
The estimate rests on the loan amount, and RESPA requirements require that it has to contain all closing costs and be within a narrow range of accuracy. I'll review the estimate and let you know if everything looks adequate.
Then we'll close on your house. This will likely occur at a title company or escrow office and is often a smooth and calm event.
Step 9 – Move in
Congratulations! It's time to move into your new house. Enjoy it. And if you need anything or have any questions, make sure you call me at 210.826.4088 or e-mail me at .