Buying or selling a home in New York?

Purchasing a home can be stressful for many people, but it isn't that complex with a little up-front planning. I like to give buyers an outline of the entire deal so they'll know exactly what they can expect. Below are my nine steps to buying a home.

Step 1 – Prepare to buy a home
There are several things you need to contemplate before you look for a home. It's likely that you'll want to create a list of features you need to have, get a feeling for what neighborhoods and school districts you want to live in, and begin planning your budget. Keeping your mortgage payment less than 30 percent of your net monthly income is a good principle to follow.

Step 2 – Communicate with a real estate agent in New York
This is where Nelson's List can help. I'd love to book a time to get together with you and speak with you about why you want to buy a home and get an idea of your upcoming plans. We'll discuss neighborhoods, school districts in the New York area, the mortgage industry, and any other economic factors that could potentially affect your purchase today or in the future.

I'll also help you start the loan process. Nelson's List works with some of the best mortgage professionals in New York, so you can rest assured that you're in great hands. They'll help you determine which type of loan is best for you, as well as help you get approved.

Step 3 – Start house-hunting
Following our initial meeting, I'll start finding homes on the market that best suit you. I'll research most of the houses and reject the duds, and then we'll book appointments to view the homes when it's most convenient for you.

As we view homes, I'll identify positive features, as well as bad ones. I'll also ask you to point out what things you like and dislike. Most often, buyers change their list of must-haves as we tour houses and some things become more important than others. If such is the case, I'll search the listings another time and narrow it down to the home you've been dreaming about.

Step 4 – Get a feel for the housing market
An agent's awareness of the New York housing market is a crucial element in your house search. And I assure you I'm mindful of all the schools and neighborhoods, and I will let you know what districts are "hot" and call for prompt action and the rest that are "cold" and allow for more examination.

As we tour houses, I'll let you know if the seller's asking price has room for bargaining or if I believe the house is "priced to sell." Any REALTOR^® will convince you they understand the home market, but take notice, and be sure to ask lots of questions. If things don't add up, call me at 917-397-0507 or e-mail me at na@nelsonaybar.com, and I'd be more than happy to answer any questions you have. My knowledge of the market will help you stay a step above the rest through the entire deal.

Step 5 – Find the house you've been looking for
I'm confident we'll find your dream home in New York. When that happens, I'll precisely create your purchase offer. The offer will be tailored to suit your needs, including several contingencies. A few examples are acquiring financing, completing the inspection, and a clean title.

When we present your offer, you'll need to present "earnest money." This is a cash deposit made to a seller to secure the offer to purchase the property, and it's typically applied to the cost of closing. If the offer is accepted, we should close on the home about 30 to 60 days afterward. This allows sufficient time for your mortgage financing.

Step 6 – Negotiate the deal
Most deals aren't closed on the first offer – it's very common to receive a counter offer. Don't let it discourage you. We'll consider whether or not to take the counter offer, submit our own counter offer, or reject the seller's offer and move on.

Market circumstances determine how aggressively we negotiate the contract. In addition, we'll work within your financing budget. And when it's all said and done, we'll create a deal that works well for you.

Step 7 – Get a loan
After we sign the final contract, you'll begin working with your mortgage lender to close the loan. It won't be a long process at all if you've been pre-qualified, but you should to stay in close contact with your lender. And I'll handle all the property information your lender needs to close the loan.>

Step 8 – Close the deal
You'll get a Good Faith Estimate (GFE) of closing costs from your lender within three days of receiving your application. This estimate rests on the loan amount, and RESPA requirements order that it has to contain all closing costs and be within a precise range of accuracy. I'll study the estimate and let you know if everything looks permissible.

Then we'll close on your house. This should take place at a title company or escrow office and is often a smooth and hassle-free event.

Step 9 – Move in
Success! Now you can move into your new home. Enjoy it. And if you need anything or have any questions, make sure you call me at 917-397-0507 or send me an e-mail.