Are you contemplating purchasing your new home in Stillwater? One Broker Place can help.

Buying a home intimidates a lot of people, but it isn't too hard with a little up-front planning. We like to furnish buyers with an outline of the entire deal so they know exactly what they can expect. Below are our nine steps to purchasing a home.

Step 1 – Prepare to purchase
Before you begin searching for a home, there are several things you'll want to contemplate. You'll want to make a checklist of items you want to have, get an idea of what school districts you want to live in, and start working on your budget. A good principle to follow is that your mortgage payment should be less than or close to a third of your net monthly income.

Step 2 – Communicate with a real estate agent
This is where we come in. We can book 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 Stillwater area, the mortgage and housing industries, to any other economic factors that could potentially affect your buying decision today or in the future.

We can also assist you in getting started on your loan. There are some excellent mortgage professionals in Stillwater, and we work with a lot of them, so you're in great hands. They'll assist you in deciding which kind of loan is best for you and help you get approved.

Step 3 – Start house hunting
After we meet, we'll start looking for houses on the market that are a good fit for you. We'll preview many of the houses and remove the bad ones, and then we'll book appointments to tour the houses when it's most convenient for you.

As we tour the houses, we'll call attention to positive features and negative ones. we'll also ask you to talk about things you like and dislike. It's widely common for buyers to change their must-have list as we view houses and some features become more substantial than others. If that happens, we'll look through the listings another time and narrow it down to the home you've been wishing for.

Step 4 – Know the housing market
Your agent's knowledge of the Stillwater home market is a fundamental factor in your home search. And we can assure you we're in touch with all the schools and neighborhoods, and we'll communicate certain neighborhoods are "hot" and warrant immediate action and the others that are "cool" and allow for more analysis.

When we tour homes, we'll make sure to communicate if the list price has room for negotiation or if I believe the home is "priced to sell." When working with an agent, be on guard and make sure you ask a lot of questions, as any real estate agent in Stillwater will claim to comprehend the market. If it appears they don't know everything, call us at (405) 533-3800 or e-mail us at mortgage11@re-consumer.com, and we'd be happy to answer any questions you have. Our market knowledge will keep you a step above the rest throughout the entire deal.

Step 5 – Find the home you've been looking for
We're certain we'll find the house of your dreams in the Stillwater area. When we do, we'll carefully create your home purchase offer. The offer will be tailored with your needs in mind, including several contingencies, such as acquiring financing, finishing the inspection, and a clean title.

When sending in your purchase offer, you'll need to present "earnest money." This is a cash deposit made to a home seller to secure an offer to buy the property. The amount is most often applied to the cost of closing. If your offer is accepted, we should close on the home about 30 to 60 days afterward. This allows necessary time for your mortgage financing.

Step 6 – Negotiate
Unfortunately most contracts aren't closed on the first offer, and it's very common to receive a counter offer. But don't let it intimidate you. We'll talk over whether or not to agree to the counter offer, propose our own counter offer, or decline the seller's offer and go on.

The state of the market determines how aggressively we negotiate the contract. In addition, we'll work within your financing limits. And at the end of the day, we'll compose a contract that is best for you.

Step 7 – Get financing
Once the contract is finalized, you'll start working with your lender to close the loan. It won't take very long at all if you've been pre-qualified, but you need to stay in close contact with your lender. And we'll sort out all the property information your lender will need to close the loan.>

Step 8 – Close the deal
Your mortgage lender will send you a Good Faith Estimate (GFE) detailing closing costs within three days of accepting your loan application. The estimate is based on the loan amount, and RESPA requirements mandate that it has to involve all closing costs and fall within a precise range of accuracy. we'll review the estimate and let you know if it all looks adequate.

Then it's time to close on your house. This will most likely take place at a title company or escrow office and will probably be a smooth and peaceful event.

Step 9 – Move in
Congratulations! It's time to move into your new house. Enjoy it. And if you need anything, make sure you contact us at (405) 533-3800 or send us an e-mail.