Are you contemplating purchasing a home in Troy? Big Bear Real Estate can help.

Buying a home is intimidating for a lot of people. However, with a bit of up-front planning, it isn't all that difficult. I like to supply buyers with a road map of the whole deal so they understand exactly what they can expect. Below are my nine steps to purchasing a home. Should you have 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 a home
Prior to starting your home search, there are plenty of things you need to take into account. You'll probably want to make an index of must-have features, get a feeling for what neighborhoods and school districts you want to live in, and start planning your budget. Keeping your mortgage payment around 1/3 of your monthly income is a good rule of thumb to go by.

Step 2 – Connect with a real estate agent
This is where I can help. We can arrange a time to meet so we can talk about why you want to buy a home and get an idea of your plans for the future. We'll talk about everything from neighborhoods, school districts in the Troy area, the mortgage and housing industries, to any other economic factors that might affect your purchase today or in the future.

I'll also assist you with getting started on your loan. There are some very good mortgage professionals in Troy, and I work with a lot of them, so you're in great hands. They can help you choose which kind of loan is best for you, as well as help you get approved.

Step 3 – Begin looking for a house
After our first meeting, I'll begin looking for available homes on the market that suit your needs. I'll get a sneak peek of many of the homes and reject the duds, and then we'll book appointments to tour the houses when it's most convenient for you.

As we view the homes, I'll identify good features, as well as bad ones. And I'll ask you to point out what things you like and dislike. It's widely common for buyers to update their wish list as we view houses and some things become far more crucial than others. If that's the case, I'll go back through all the listings once again and trim it down to the house you've been wishing for.

Step 4 – Comprehend the market
My knowledge of the Troy market is a crucial aspect in your house search. I'm acquainted with all the neighborhoods and schools, and I will let you know certain neighborhoods are "hot" and require prompt action and others that are "cold" and allow for more analysis.

As we tour houses, I'll let you know when the asking price has room for bargaining and when I believe the house is "priced to sell." Any real estate agent in Troy will claim to truly understand the home market, but beware, and be sure to ask your agent lots of questions. If things don't add up, call me at 802-744-6844 or e-mail me at , and I'd be happy to answer any questions you may have. My market expertise will keep you a step above the rest throughout the entire deal.

Step 5 – Find the house of your dreams
I'm confident we'll find your dream house in Troy. When we do, I'll carefully create your home purchase offer. The offer will be made to suit your needs and the home. We'll include several contingencies, such as getting financing, carrying out the home inspection, and a clean title.

When we submit your offer, you'll probably need to submit "earnest money." This is a cash deposit submitted to a home seller to secure the offer to buy the property, and it's typically put towards the cost of closing. If the seller accepts the offer, we should close within 30 to 60 days after. This allows ample time for your mortgage financing.

Step 6 – Negotiate the deal
A lot of deals don't close on the beginning offer – it's pretty common to receive a counter offer. Don't let this alarm you. We'll discuss whether or not to take the counter offer, submit our own counter offer, or decline the seller's offer and go 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 formulate a deal that's best for you.

Step 7 – Secure financing
After the deal is complete, you'll begin working with your mortgage lender to close the loan. If you're already pre-approved, this shouldn't take long at all. But you'll need to stay in close contact with your mortgage lender. And I'll look after all the property information your lender will need to close the loan.

Step 8 – Close the deal
You'll get a Loan Estimate (LE) detailing closing costs from your mortgage lender within three days of getting your application. This estimate is based on the loan amount, and RESPA requirements require that it has to contain all closing costs and fall within a precise range of accuracy. I'll review the estimate and let you know if it all looks good.

Then we'll close on your house. This will most often take place at a title company or escrow office and should be a smooth and stress-free event.

Step 9 – Move in
Congratulations! Now you can move into your new home. Enjoy it. And if you need anything, be sure to call me at 802-744-6844 or e-mail me at .

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