Are you contemplating purchasing a new home in EDGEWATER?

Buying a home is intimidating for a lot of people, but it isn't too confusing with a little up-front planning. So you understand exactly what to expect, I like to provide my buyers with a road map of the whole deal. Below are my nine steps to buying a home.

Step 1 – Prepare to buy
There are many things you'll want to do before starting your home search. When you begin your search, you'll want to create an index of items you need to have, get a plan of what neighborhoods and school districts you'd like to live in, and start working on your budget. Keeping your mortgage payment less than 30 percent of your monthly income is a good principle to follow.

Step 2 – Contact a real estate agent in EDGEWATER
That's where I come in. I'd be more than happy to book a time to get together with you and talk about your real estate needs and get an idea of your future plans. We'll discuss the mortgage industry, other economic factors that may affect your buying decision today or in the future, as well as neighborhoods and school districts in the EDGEWATER area.

I can also help you facilitate the loan process. I partner with some of the best mortgage professionals in EDGEWATER, so you're in great hands. They will assist you with figuring out which type of loan is best for you and help you get qualified.

Step 3 – Start looking
After our initial meeting, I'll start searching for homes on the market that suit your needs. I'll get a sneak peek of many of the homes and eliminate the duds, and then we'll set up appointments to tour the houses whenever it's convenient for you.

When we tour houses, I'll identify positive features and negative ones. I'll also ask you to tell me about things you like and don't like. For the most part, buyers change their list of must-haves as we view homes and some items become more necessary than others. If that happens, I'll go back through the listings again and trim it down to the home you've been wishing for.

Step 4 – Get a grasp of the market
Your agent's understanding of the EDGEWATER home market is an imperative component in your house search. And I can assure you I'm conscious of all the schools and neighborhoods, and I will alert you to which districts are "hot" and require immediate action and the ones that are "cold" and allow for careful examination.

When we tour houses, I'll make sure to communicate if the asking price has room for bargaining or if I believe the house is "priced to sell." Be on guard and make sure you ask your agent a lot of questions, as every real estate agent will convince you they understand the home market. If things don't add up, contact me at 201-943-9003 or e-mail me at mzapata@21stcenturynj.com, and I'll be happy to answer your questions. My market knowledge will keep you a step ahead through the entire deal.

Step 5 – Find the house you've been looking for
I'm positive we'll find your dream home in the EDGEWATER area. When that happens, I'll precisely create your real estate purchase offer. The offer will be tailored to suit your needs, including a lot of contingencies. A few examples are getting financing, completing the inspection, and a clean title.

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

Step 6 – Negotiate the deal
Unfortunately most deals aren't closed on the beginning offer – it's widely common to receive a counter offer. Don't let this intimidate you. We'll consider whether or not to consent to the counter offer, present our own counter offer, or refuse the seller's offer and move on.

How aggressively we negotiate the contract depends on market conditions. In addition, we'll work within your financing budget. And at the end of the day, we'll assemble a deal that is best for you.

Step 7 – Get a loan
Upon completion of the deal, you'll begin working with your lender to close the loan. If you're pre-approved, it won't take much time at all. But you'll need to stay in close contact with your mortgage lender. And I'll sort out all the property information your mortgage lender will need to close the loan.>

Step 8 – Close the deal
Your mortgage lender will furnish you with a Good Faith Estimate (GFE) outlining your closing costs within three days of receiving your application. This estimate is formed from the loan amount. RESPA requirements require that it has to involve all closing costs and be within a strict range of accuracy, and I'll analyze the estimate and let you know if it all looks good.

Then it's time to close on your house. This will likely happen at a title company or escrow office and will probably be a smooth and hassle-free event.

Step 9 – Move in
Congratulations! It's time to move into your new house. Enjoy it. And if you have any questions, make sure you call me at 201-943-9003 or send me an e-mail.