Mixed race family in new homeYour home purchase can be simple and easier with correct planning. Our Real Estate Brokers here at Katerina Premier properties can and  will provide you with an outline of entire home buying process so that you get acquainted with all of the steps.

The 9 easy steps to owning a house or other property are as follows:

Step 1: Get Ready!

Before you start your search for your new home you should write a detailed description of what you must have in your new house. Your list should also include the kind of neighborhood, school and modern conveniences that are appealing to you.  Another important aspect that you need to keep in mind is your Budget – your goal should be to keep your mortgage payment below 30 percent of your total income.

Step 2: Hire A Realtor.

This is where we, the professionals come in. We will make sure to go over your wish list on our first meeting and we will discuss things like your neighborhood, your budget requirements, your district and other similar criteria.

We will guide you through the home loan process and connect you with our network of experienced and well reputed mortgage professionals. Their job is to make sure that you stay on the right course and give you the best possible options according to your financial condition. They will also help you in getting approved for a home loan.

Step 3: Start Your Home Search

Katerina will search for the best possible house that suits your preferences. She will e mail you a list of possible properties. With her professional knowledge and contacts, she will start setting up home tours of the homes that you have selected.

During the tours I will point out all the features that fit in your criteria along with any drawbacks so that you can make an informed decision. I feel confident that once we go out together, we will eventually find that perfect place to call home.

Step 4: Become Familiar With The Housing Market.

Katerina has a thorough knowledge of all schools, neighborhood and other similar facilities of all neighboring districts.

She will share with you the extent of bargaining that you can do on every house because some people have made a fixed offer while some remain open to bargain. You are encouraged to participate and ask as many questions as you want. Katerina’s goal is to help you stay a step ahead during the whole process and one step ahead of your seller in everything.

Step 5:  Your Dream Home

Katerina is very confident that she can find your dream house but to get that home, there are lots of steps that we need to take. For example we need to write a purchase contract, set up all of other financing needs, schedule a variety of inspections, set up an appraisal and finalize other negotiations as well.

Once we present the seller with your purchase offer, you will need to submit the initial cost of the house that is called Earnest Money.  This deposit is usually 1% of the offering price and it makes the deal firm and concrete –Normally this is added to the closing cost. Once the seller approves your purchase offer, we can close the entire transaction within 45 days.

Step 6: Negotiating The Home Price.

It is not very uncommon for most of the offers to get rejected or to get countered. This should not offend you in any way. Katerina will help you throughout the process and will discuss all three options of whether to accept that counter offer, or to give our own counter offer again or we can rejected and move on to another home.

The Market status plays a key role and it will determine our approach towards the offer.

Step 7: Secure The  Loan

Once your offer is accepted you will be working with the lender to finalize the loan terms such as interest rate. This will be a short process, especially when you have got pre-approved.

Step 8: Close the Deal              

Your mortgage broker should be providing you with a Good Faith estimate within 3 days of accepting your application. This estimate is a very accurate figure that includes closing cost, loan amount and RESPA.

When the loan documents are ready we can go to closing. We do this through a Title Company.

Step 9: Move In!

Once all of the above processes are completed you will have accomplished your dream of home ownership. Congratulations!