Purchasing your home in Mt Dora with Dave Lowe Realty Inc

With some up-front planning, purchasing a home isn't that hard, but the event intimidates many people. I like to provide buyers with a road map of the whole deal so they understand exactly what to expect. These are my nine steps to purchasing a home. Should you have any questions regarding this information or if you're prepared to get started, simply contact me here or e-mail me at .

Step 1 – Get ready to buy a home
There are plenty of things you should consider before you start searching for a home. When you start your search, you'll probably want to create a list of items you want, get a feel for what neighborhoods you want to live in, and start working on your budget. A good rule of thumb to go by is that your mortgage payment should be 1/3 of your monthly income.

Step 2 – Get in touch with a real estate agent
This is where Dave Lowe Realty Inc can help. We can set up a time to meet so we can talk about your real estate needs and get an idea of your upcoming plans. We'll talk about neighborhoods, school districts in the Mt Dora area, the mortgage and housing industries, and any other economic factors that might affect your buying decision today or in the future.

In addition, I'll assist you in getting started on your loan. There are some excellent mortgage professionals in Mt Dora, and I work with a lot of them, so you're in great hands. They'll help you determine which kind of loan is best for you, as well as help you get qualified.

Step 3 – Begin your search
Following our initial meeting, I'll start searching for available houses on the market that are a good fit for you. I'll get a sneak peek of many of the homes and eliminate the duds, and then we'll book appointments to view the houses whenever it's most convenient for you.

As we view houses, I'll show you the positive features and bad ones. And I'll ask you about things you like and dislike. Generally, buyers revise their list of must-haves as we tour houses and some features become more essential than others. If that's the case, I'll go back through all the listings again and trim it down to the home of your dreams.

Step 4 – Get a grasp of the market
An agent's knowledge of the Mt Dora home market is a leading factor in your home search. And I can assure you I'm informed of all the schools and neighborhoods, and I can alert you to certain areas are "hot" and require immediate action and some that are "cold" and allow for cautiousness.

As we view homes, I'll be sure to tell you if the seller's asking price has room for negotiation or if I believe the home is "priced to sell." Every REALTOR in Mt Dora will tell you they truly know the market, but keep an eye out, and be sure to ask your agent a lot of questions. If things don't add up, call me at (352) 383-7104 or e-mail me at , and I'd be more than happy to answer your questions. My knowledge of the market will keep you a step above the rest throughout the entire process.

Step 5 – Find your dream home
I'm certain we'll find your dream home in the Mt Dora area. When that happens, I'll meticulously create your home purchase offer. The offer will be made to fit your needs and the home. We'll include a lot of contingencies, such as getting financing, completing the inspection, and a clear title.

When turning in your purchase offer, you'll likely need to present "earnest money." This is a cash deposit made to the home seller to secure the offer to purchase the property. The amount is often put towards the closing costs. If the seller accepts your offer, we should close on the property within 30 to 60 days afterward. This allows sufficient time for your mortgage financing.

Step 6 – Negotiate the deal
Most contracts aren't closed on the initial offer – it's extremely common to receive a counter offer. But don't let it discourage you. We'll consider whether or not to consent to the counter offer, propose our own counter offer, or refuse the seller's offer and move on.

How aggressively we negotiate the deal depends on market conditions. We'll also work within your financing budget. And when it's all said and done, we'll formulate a contract that's best for you.

Step 7 – Secure a loan
Upon finishing the contract, you'll start working with your lender to close the loan. If you're pre-approved, this shouldn't take much time at all, but you'll want to keep in close contact with your lender. And I'll handle 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 Loan Estimate (LE) detailing your closing costs within three days of accepting your loan application. You'll get a Loan Estimate (LE) outlining closing costs from your mortgage lender within three days of receiving your loan application. The estimate is based on the loan amount. RESPA requirements mandate that it has to involve all closing costs and be within a tight range of accuracy, and I'll study the estimate and let you know if it all looks adequate.

Then we'll close on your home. This will most likely take place at a title company or escrow office and is often a smooth and calm event.

Step 9 – Move in
Congratulations! It's time to move into your new home. Enjoy it. And if you have any questions, simply call me at (352) 383-7104 or e-mail me at .