Buying or selling a home in Troy? Big Bear Real Estate can help.

Purchasing a home is intimidating for most people. However, with a bit of up-front planning, it isn't very difficult. So they know exactly what they can expect, I will give buyers a road map of the entire deal. Below are my nine steps to purchasing a home. If you have questions about any of this information or if you're prepared to get started, simply contact me here or e-mail me at .

Step 1 – Prepare to purchase
There are a lot of things you should consider prior to starting your home search. When you start your search, you'll want to put together a check list of features you want to have, plan for what school districts and neighborhoods you want to live in, and start planning your budget. A good rule to follow is that your mortgage payment should be no more than 30 percent of your monthly income.

Step 2 – Get in touch with a real estate agent in Troy
That's where I come in. We'll schedule a time to get together so we can talk about your real estate needs and get an idea of your plans for the future. We'll talk about neighborhoods, schools in the Troy area, the mortgage industry, and any other economic factors that may potentially affect your buying decision today or in the future.

I can also help you start the loan process. There are some great mortgage professionals in Troy, and I work with a lot of them, so you'll be in great hands. They will assist you in determining which type of loan is best for you and help you get approved.

Step 3 – Begin house-hunting
After our initial meeting, I'll start finding homes on the market that are a good fit for you. I'll preview most of the houses and ignore the duds, and then we'll book appointments to tour the homes when it's convenient for you.

As we tour the homes, I'll point out good features and negative ones. And I'll ask you to point out what things you like and dislike. It's common for buyers to amend their wish list as we view homes and some things become more important than others. If that happens, I'll look through the listings one more time and trim it down to the house you've been dreaming about.

Step 4 – Get a grasp of the housing market
Your agent's understanding of the Troy home market is a crucial element in your house search. And I can assure you I'm familiar with all the schools and neighborhoods, and I will communicate what districts are "hot" and demand immediate action and the ones that are "cold" and allow for more analysis.

When we tour houses, I'll be sure to tell you if the seller's asking price has room for bargaining or if I believe the home is "priced to sell." When working with an agent, be mindful and make sure you ask a lot of questions, as any real estate agent will tell you they know the market. If things don't add up, just call me at 802-744-6844 or e-mail me at , and I'd be more than happy to answer any questions you have. My market expertise will keep you a step ahead throughout the entire deal.

Step 5 – Find the home you've been looking for
I'm confident we'll find your dream home in the Troy area. When that happens, I'll precisely develop your purchase offer. The offer will be tailored with your needs in mind and the home, including many contingencies. A few examples are acquiring financing, completing the home inspection, and a clean title.

When turning in your offer, you'll probably want to submit "earnest money." This is a cash deposit submitted to a seller to secure an offer to buy the property, and it's usually applied to the closing costs. 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
Most deals don't close on the beginning offer. It's really common to receive a counter offer. But don't let this 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 move on.

Market conditions determine how aggressively we negotiate the contract. We'll also work within your financing constraints. And at the end of the day, we'll create a deal that's best for you.

Step 7 – Obtain a loan
After the deal is finished, you'll begin working with your lender to close the loan. This won't take very long at all if you're pre-qualified, but you'll need to keep in close contact with your lender. And I'll take care of all the property information your mortgage lender will need to close the loan.

Step 8 – Close the deal
Your lender will give you a Loan Estimate (LE) outlining your closing costs within three days of taking your loan application. You'll get a Loan Estimate (LE) outlining your closing costs from your mortgage lender within three days of getting your loan application. The estimate depends on the loan amount. RESPA requirements require that it has to involve all closing costs and be within a precise range of accuracy, and I'll review the estimate and let you know if everything looks all right.

Then we'll close on your home. This will likely take place at a title company or escrow office and will probably be a smooth and peaceful occurrence.

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

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