Buying or selling a home?

	If you have any questions about this information or if you're prepared to get started, just contact me here or e-mail me at tina@bigbearrevt.com.

Step 1 – Get ready to buy a home
There are many things you'll want to do before beginning your home search. It's likely that you'll want to make a checklist of items you need, get a feel for what school districts you'd like to live in, and start planning your budget. Ensuring your mortgage payment is less than a third of your monthly income is a good guideline to follow.

Step 2 – Speak with a real estate agent in Troy
This is where Big Bear Real Estate 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 discuss everything from neighborhoods, schools in the Troy area, the mortgage industry, to any other economic factors that could affect your purchase today or in the future.

I'll also help you get started on your loan. I partner with some of the best mortgage professionals in Troy, so you'll be in great hands. They will help you determine which kind of loan is best for you, as well as help you get qualified.

Step 3 – Begin your home search
Following our initial meeting, I'll begin searching for homes on the market that are great for you. I'll research many of the houses and throw out the bad ones, and then we'll book appointments to tour the homes when it's most convenient for you.

When we tour the houses, I'll show you the positive features and negative ones. And I'll ask you to tell us about things you like and don't like. It's widely common for buyers to amend their must-have list as we view houses and some things become more substantial than others. If that's the situation, I'll search all the listings another time and trim it down to the house of your dreams.

Step 4 – Get a grasp of the housing market
Your agent's knowledge of the Troy housing market is a fundamental component in your home search. And I can assure you I'm informed of all the school districts and neighborhoods, and I can communicate some neighborhoods are "hot" and warrant prompt action and the ones that are "cold" and allow for more examination.

When we tour houses, I'll make sure to communicate if the seller's list price has room for bargaining or if I believe the home is "priced to sell." When working with an agent, be on guard and be sure to ask a lot of questions, as any real estate agent will convince you they comprehend the home market. If it appears they don't know everything, just call me at 802-744-6844 or e-mail me at tina@bigbearrevt.com, and I'll be more than happy to answer any questions you might have. My market knowledge will keep you a step ahead throughout the entire process.

Step 5 – Find the home you've been waiting for
I'm sure we'll find your dream home in Troy. When we do, I'll thoroughly develop your real estate purchase offer. The offer will be tailored keeping your needs in mind, including a lot of contingencies, such as getting financing, finishing the home inspection, and a clear title.

When turning in your offer, you'll want to submit "earnest money." This is a cash deposit submitted to a home seller to secure the offer to purchase the property. The amount is most often applied to the closing costs. If the seller accepts the offer, we should close on the property about 30 to 60 days after. This allows plenty of time for your mortgage financing.

Step 6 – Negotiate the deal
Unfortunately most contracts don't close on the first offer – it's pretty common to receive a counter offer. But don't let this discourage you. We'll talk about whether or not to agree to the counter offer, submit our own counter offer, or refuse the seller's offer and go on.

How aggressively we negotiate the contract depends on market conditions. In addition, we'll work within your financing budget. And when it's all said and done, we'll create a contract that works well for you.

Step 7 – Obtain a loan
Once the contract is finished, you'll start working with your mortgage lender to close the loan. If you're already pre-approved, it shouldn't take long at all. However, you'll need to stay in close contact with your mortgage lender. And I'll care for all the property information your mortgage lender needs to close the loan.

Step 8 – Close the deal
Your mortgage lender will provide you with a Good Faith Estimate (GFE) outlining your closing costs within three days of getting your loan application. You'll get a Good Faith Estimate (GFE) of your closing costs from your lender within three days of accepting your loan application. The estimate is based on the loan amount, and RESPA requirements order that it has to include all closing costs and be within a tight range of accuracy. I'll analyze the estimate and let you know if everything looks okay.

Then it's time to close on your house. This will most often happen at a title company or escrow office and is often a smooth and easygoing occurrence.

Step 9 – Move in
You made it! It's time to move into your new house. Enjoy it. And if you have any questions, simply call me at 802-744-6844 or send me an e-mail.