Purchasing your new home in Flower Mound

For many people, buying a home can be intimidating. However, with some planning ahead of time, it's not all that difficult. So you know exactly what to expect, we like to furnish our buyers with an overview of the entire deal. Below are our nine steps to buying a home.

Step 1 - Get ready to buy a home
Before you begin looking for a home, there are many things you'll want to take into account. When you begin your search, you'll probably want to make an index of features you need, get a plan of what school districts and neighborhoods you'd like to live in, and begin planning your budget. A good rule to adhere to is that your mortgage payment should be close to 30 percent of your monthly income.

Step 2 - Communicate with a real estate agent
This is where AmeriGroup Real Estate comes in. We'd love to plan a time to meet with you and talk about why you want to buy a home and get an idea of your plans for the future. We'll talk about neighborhoods, school districts in the Flower Mound area, the mortgage and housing industries, and any additional economic factors that could potentially affect your purchase today or in the future.

We'll also help you start the loan process. There are some great mortgage professionals in Flower Mound, and we work with a lot of them, so you're in great hands. They'll assist you with determining which type of loan is best for you and help you get qualified.

Step 3 - Start looking
After we meet, we'll begin looking for available homes on the market that are a great fit for you. We'll preview most of the homes and throw out the bad ones, and then we'll book appointments to view the houses at a time that's convenient for you.

When we view homes, we'll call attention to good features and bad ones. And we'll ask you what things you like and dislike. Oftentimes, buyers revise their list of must-haves as we tour houses and some things become more necessary than others. If that's the situation, we'll search all the listings another time and narrow it down to the house you've been dreaming about.

Step 4 - Get a feel for the market
Our knowledge of the Flower Mound home market is a fundamental resource in your house search. We are conscious of all the schools and neighborhoods, and we can communicate some neighborhoods are "hot" and require immediate action and the others that are "cool" and allow for thoughtful analysis.

When we tour homes, we'll let you know if the list price has room for bargaining or if I believe the home is "priced to sell." When working with an agent, be careful and make sure you ask lots of questions, as any real estate agent in Flower Mound will convince you they know the home market. If it seems like they don't know everything, contact us at 972-998-8194 or e-mail us at benugo@verizon.net, and we'd be more than happy to answer any questions you may have. Our understanding of the market will help you stay a step ahead through the entire deal.

Step 5 - Find your dream home
We're confident we'll find the house of your dreams in the Flower Mound area. When that happens, we'll carefully create your purchase offer. The offer will be tailored keeping your needs in mind, including a lot of contingencies. A few examples are obtaining financing, completing the inspection, and a clean title.

When we turn in your offer, you'll need to submit "earnest money." This is a cash deposit submitted to the home seller to secure an offer to buy the property. The amount is typically applied to the cost of closing. If your offer is accepted by the seller, we should close on the property within 30 to 60 days after. This allows necessary time for your mortgage financing.

Step 6 - Negotiate
A lot of deals aren't closed on the beginning offer, and it's very common to receive a counter offer. But don't let this discourage you. We'll talk over whether or not to agree to the counter offer, submit our own counter offer, or refuse the seller's offer and go on.

Market conditions determine how aggressively we negotiate the contract. In addition, we'll work within your financing constraints. And when it's all said and done, we'll compose a contract that's best for you.

Step 7 - Get your loan
After the deal is finished, you'll begin working with your mortgage lender to close the loan. This shouldn't be a long process at all if you've been pre-approved, but you'll want to keep in close contact with your mortgage lender. And we'll take care of all the property information your mortgage lender will need to close the loan.>

Step 8 - Close the deal
You'll get a Loan Estimate (LE) outlining closing costs from your lender within three days of getting your application. The estimate is based on the loan amount, and RESPA requirements dictate that it has to include all closing costs and be within a close range of accuracy. we'll study the estimate and let you know if everything looks permissible.

Then it's time to close on your home. This should occur at a title company or escrow office and is often a smooth and pleasant occurrence.

Step 9 - Move in
You made it! It's time to move into your new house. Enjoy it. And if you have any questions, be sure to contact us at 972-998-8194 or send us an e-mail.