Let Danny Hilwa P.A. help you with buying your home in Orlando
Purchasing a home intimidates a lot of people. However, with a bit of planning ahead of time, it isn't all that difficult.
We like to supply buyers with a road map of the whole deal so they'll know exactly what to expect.
These are our nine steps to purchasing a home.
Step 1 – Prepare to buy
Before you begin your home search, there are a lot of things you should consider.
When you begin your search, you'll probably want to create an index of features you want, get a plan of what neighborhoods you want to live in, and begin planning around your budget.
A good rule to follow is that your mortgage payment should be less than or around 30 percent of your net monthly income.
Step 2 – Communicate with a real estate agent in Orlando
This is where Danny Hilwa P.A. comes in.
We'd be more than happy to plan a time to meet with you and speak with you regarding why you want to buy a home and get an idea of your upcoming plans.
We'll talk about the mortgage and housing industries, other economic factors that may potentially affect your purchase today or in the future, as well as neighborhoods and school districts in the Orlando area.
In addition, we'll help you begin the loan process.
Danny Hilwa P.A. works with some of the finest mortgage professionals in Orlando, so you can rest assured that you're in great hands.
They'll assist you with choosing which kind of loan is best for you and help you get approved.
Step 3 – Start looking for a house
After our initial meeting, we'll start looking for available houses on the market that are a great fit for you.
We'll preview most of the houses and ignore the duds, and then we'll schedule appointments to view the homes whenever it's most convenient for you.
When we tour homes, we'll identify good features and negative ones. And we'll ask you to tell us about things you like and dislike.
Usually, buyers update their wish list as we view homes and some features become far more substantial than others.
If that's the situation, we'll go back through the listings once again and narrow it down to the house you've been waiting for.
Step 4 – Get a feel for the housing market
Your agent's understanding of the Orlando home market is an essential agent in your house search. And we can assure you we're very familiar with all the school districts and neighborhoods, and we will alert you to which districts are "hot" and call for immediate action and the rest that are "cool" and allow for thoughtful analysis.
As we tour houses, we'll let you know if the list price has room for negotiation or if I believe the home is "priced to sell."
When working with an agent, be careful and be sure to ask lots of questions, as any real estate agent will claim to truly know the home market.
If things don't add up, just call us at 407-808-5252 or e-mail us at firstname.lastname@example.org, and we'll be glad to answer any questions you may have. Our market expertise will help you stay a step ahead through the entire deal.
Step 5 – Find the home you've been looking for
We know we'll find the home of your dreams in Orlando, and when that happens, we'll meticulously develop your home purchase offer. The offer will be tailored keeping your needs in mind. Whenever necessary, We never forget to make contracts contingent upon items like obtaining financing and the results of the home inspection.
Upon submitting your purchase offer, you'll need to submit "earnest money." This is a cash deposit submitted to a seller to secure an offer to buy the property, and it's most often put towards the cost of closing. If the seller accepts your offer, we should close about 30 to 60 days after. This allows enough time for your mortgage financing.
Step 6 – Negotiate
Most contracts don't close on the initial offer – it's really common to receive a counter offer. Don't let it alarm you. We'll talk over whether or not to take the counter offer, present our own counter offer, or reject the seller's offer and move on.
Market circumstances determine how aggressively we negotiate the deal.
We'll also work within your financing limits. And at the end of the day, we'll formulate a contract that's best for you.
Step 7 – Obtain a loan
Once the contract is signed, you'll start working with your lender to close the loan.
This won't take much time at all if you're pre-qualified, but you need to keep in close contact with your mortgage lender.
And we'll care for all the property information your mortgage lender will need to close the loan.>
Step 8 – Close the deal
Your lender will provide you with a Loan Estimate (LE) detailing your closing costs within three days of getting your loan application.
The estimate is based on the loan amount, and RESPA requirements require that it has to include all closing costs and fall within a strict range of accuracy. we'll examine the estimate and let you know if it all looks all right.
Then it's time to close on your house. This will likely take place at a title company or escrow office and will most likely be a smooth and comfortable occasion.
Step 9 – Move in
You made it! Now you can move into your new home. Enjoy it. And if you need anything or have any questions, be sure to contact us at 407-808-5252 or send us an e-mail.