Purchasing your new home in Santa Barbara with Century 21 Butler Realty, Inc

With a little planning ahead of time, purchasing a home isn't very complex, but the event is intimidating for a lot of people. So you know exactly what to expect, I like to provide my buyers with a road map of the whole deal. Below are my nine steps to purchasing a home.

Step 1 – Get ready to buy
Before you start your home search, there are several things you should do. You'll want to assemble a list of items you want to have, get a feel for what school districts and neighborhoods you'd like to live in, and start planning your budget. Ensuring your mortgage payment is less than or around a third of your net monthly income is a good guideline to follow.

Step 2 – Get with a real estate agent
This is where Century 21 Butler Realty, Inc comes in. I'll 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 Santa Barbara area, the mortgage and housing industries, to any other economic factors that could potentially affect your buying decision today or in the future.

I'll also help you facilitate the loan process. There are some excellent mortgage professionals in Santa Barbara, and I work with a lot of them, so you'll be in great hands. They'll assist you in determining which type of loan is best for you and help you get qualified.

Step 3 – Start your search
Following our initial meeting, I'll begin looking for homes on the market that are a great fit for you. I'll get a sneak peek of most of the homes and throw out the bad ones, and then we'll set up appointments to tour the houses at a time that's convenient for you.

As we tour houses, I'll identify positive features and bad ones. And I'll ask you to talk about things you like and don't like. Oftentimes, buyers revise their must-have list as we view homes and some features become more important than others. If that's the case, I'll go back through the listings once more and narrow it down to the house of your dreams.

Step 4 – Know the housing market
My knowledge of the Santa Barbara home market is a fundamental benefit in your home search. I am familiar with all the school districts and neighborhoods, and I will let you know what neighborhoods are "hot" and require immediate action and the ones that are "cold" and allow for careful consideration.

When we tour houses, I'll let you know if the seller's list price has room for negotiation or if I believe the house is "priced to sell." When working with an agent, be mindful and make sure you ask lots of questions. Every REALTOR^® in Santa Barbara will claim to truly understand the home market. If it seems like they don't know everything, just call me at 8056980006 or e-mail me at mike@mikecowans.com, and I'll be glad to answer any questions you may have. My market knowledge will help you stay a step ahead through the entire process.

Step 5 – Find the house you've been looking for
I'm sure we'll find the home of your dreams in the Santa Barbara area. When we do, I'll thoroughly develop your home purchase offer. The offer will be tailored with your needs in mind, including many contingencies, such as acquiring financing, completing the home inspection, and a clear title.

When sending in your offer, you'll probably want to present "earnest money." This is a cash deposit made to a home seller to secure the offer to purchase the property, and it's often put towards the cost of closing. If the offer is accepted by the seller, we should close on the property about 30 to 60 days afterward. This allows enough time for your mortgage financing.

Step 6 – Negotiate
A lot of contracts don't close on the initial offer – it's extremely common to receive a counter offer. Don't let this alarm you. We'll talk about whether or not to agree to the counter offer, propose our own counter offer, or decline the seller's offer and go on.

Market circumstances will play a large role in how aggressively we negotiate the contract. We'll also work within your financing limits. And when it's all said and done, we'll formulate a contract that is best for you.

Step 7 – Get your loan
Upon signing the deal, you'll start working with your lender to close the loan. If you're already pre-approved, this shouldn't take much time at all. But you should to keep in close contact with your lender. And I'll manage all the property information your mortgage lender needs to close the loan.>

Step 8 – Close the deal
You'll get a Loan Estimate (LE) of your closing costs from your lender within three days of getting your application. This estimate is formed from the loan amount. RESPA requirements mandate that it has to contain all closing costs and be within a strict range of accuracy, and I'll examine the estimate and let you know if it all looks good.

Then we'll close on your house. This will probably happen at a title company or escrow office and is often a smooth and relaxing event.

Step 9 – Move in
You made it! Now you can move into your new house. Enjoy it. And if you have any questions, just contact me at 8056980006 or send me an e-mail.