Looking to buy your new home in Troy? Big Bear Real Estate can help.

Purchasing a home intimidates most people. However, with some planning ahead of time, it's not very difficult. So they understand exactly what they can expect, I'll supply buyers with an overview of the whole deal. These are my nine steps to purchasing a home. If you have any questions regarding any of this information or if you're prepared to get started, just contact me here or e-mail me at .

Step 1 – Get ready to buy
There are a lot of things you need to do before you search for a home. You'll want to create a check list of must-haves, get a feel for what neighborhoods you want to live in, and begin planning your budget. A good rule of thumb to go by is that your mortgage payment should be around a third of your net monthly income.

Step 2 – Speak with a real estate agent
This is where Big Bear Real Estate can help. I'd like to book a time to get together with you and talk about your real estate needs and get an idea of your future plans. We'll talk about the mortgage and housing industries, other economic factors that may affect your buying decision today or in the future, as well as neighborhoods and school districts in the Troy area.

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

Step 3 – Start looking
After our first meeting, I'll begin looking for homes on the market that are a good fit for you. I'll research most of the homes and reject the bad ones, and then we'll schedule appointments to view the homes whenever it's convenient for you.

When we view houses, I'll call attention to good features, as well as negative ones. I'll also ask you to tell us about things you like and don't like. It's common for buyers to update their list of must-haves as we view houses and some things become more essential than others. If that happens, I'll look through the listings another time and trim it down to the home of your dreams.

Step 4 – Understand the market
My knowledge of the Troy housing market is a fundamental element in your house search. I am conscious of all the neighborhoods and school districts, and I can alert you to certain areas are "hot" and demand immediate action and the ones that are "cold" and allow for more analysis.

When we view houses, I'll let you know when the list price has room for bargaining and also when I trust the home is "priced to sell." When working with an agent, be careful and make sure you ask a lot of questions, as every real estate agent in Troy will tell you they truly understand the market. If things don't add up, call me at 802-744-6844 or e-mail me at , and I'll be happy to answer your questions. My understanding of the market will help you stay a step above the rest throughout the entire deal.

Step 5 – Find your dream house
We'll find the home of your dreams in the Troy area, and when we do, I'll precisely develop your real estate purchase offer. The offer will be made to fit your needs and the home. We'll include a lot of contingencies, such as obtaining financing, finishing the inspection, and a clear title.

When turning in your purchase offer, you'll need to present "earnest money." This is a cash deposit submitted to the seller to secure an offer to purchase the property. The amount is typically put towards the closing costs. If the seller accepts the offer, we should close on the home about 30 to 60 days after. This allows ample time for your mortgage financing.

Step 6 – Negotiate the deal
A lot of contracts aren't closed on the beginning offer – it's very common to receive a counter offer. But don't let it alarm you. We'll consider whether or not to take the counter offer, propose our own counter offer, or decline the seller's offer and move on.

Market circumstances will play a role in how aggressively we negotiate the contract. We'll also work within your financing constraints. And at the end of the day, we'll compose a contract that's best for you.

Step 7 – Obtain financing
Upon finalizing the deal, you'll start working with your mortgage lender to close the loan. If you're pre-qualified, it shouldn't take much time at all, but you need to stay in close contact with your lender. And I'll take care of all the property information your lender needs to close the loan.

Step 8 – Close the deal
Your mortgage lender will furnish you with a Loan Estimate (LE) detailing your closing costs within three days of receiving your application. You'll get a Loan Estimate (LE) outlining closing costs from your lender within three days of receiving your application. The estimate depends on the loan amount, and RESPA requirements dictate that it has to contain all closing costs and be within a strict range of accuracy. I'll study the estimate and let you know if it all looks all right.

Then we'll close on your house. This will likely occur at a title company or escrow office and will probably be a smooth and peaceful affair.

Step 9 – Move in
Congratulations! Now you can move into your new house. Enjoy it. And if you need anything, just contact me at 802-744-6844 or e-mail me at .

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