Contemplating purchasing a new home in Newcastle?

	If you have any questions about any of this information or if you're prepared to get started, simply contact me here or e-mail me at homeplace@rtconnect.net.

Step 1 – Prepare to purchase
There are several things you should do prior to beginning your home search. When you start your search, you'll probably want to form an index of must-haves, get a feel for what school districts and neighborhoods you want to live in, and start planning around your budget. Ensuring your mortgage payment is around a third of your monthly income is a good rule of thumb to go by.

Step 2 – Communicate with a real estate agent in Newcastle
This is where Home Place Realty comes in. We'll plan a time to meet so we can talk about your real estate needs and get an idea of your future plans. We'll talk about the mortgage industry, other economic factors that might affect your buying decision today or in the future, as well as neighborhoods and school districts in the Newcastle area.

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

Step 3 – Start looking for a house
Following our initial meeting, I'll begin looking for available houses on the market that are a great fit for you. I'll research most of the houses and remove the duds, and then we'll set up appointments to view the homes at a time that's convenient for you.

When we tour houses, I'll point out good features and negative ones. I'll even ask you about things you like and don't like. Frequently, buyers change their must-have list as we view homes and some things become more crucial than others. If such is the case, I'll go back through the listings another time and trim it down to the home you've been wishing for.

Step 4 – Get a grasp of the housing market
Your agent's knowledge of the Newcastle market is a necessary element in your house search. And I can assure you I'm informed of all the neighborhoods and schools, and I'll let you know which neighborhoods are "hot" and call for immediate action and the ones that are "cold" and allow for thoughtful analysis.

As we view houses, I'll let you know if the asking price has room for bargaining or if I believe the home is "priced to sell." Any real estate agent will tell you they truly know the market, but take note, and make sure you ask your agent lots of questions. If it seems like they don't know everything, call me at 307-746-4663 or e-mail me at homeplace@rtconnect.net, and I'd be glad to answer any questions you might have. My market expertise will help you stay a step ahead throughout the entire deal.

Step 5 – Find your dream house
I'm confident we'll find the house of your dreams in the Newcastle area. When we do, I'll thoroughly create your purchase offer. The offer will be tailored keeping your needs in mind, including several contingencies. A few examples are acquiring financing, completing the inspection, and a clean title.

Upon submitting your purchase offer, you'll want to submit "earnest money." This is a cash deposit made to a seller to secure the offer to buy the property and is most often applied to the closing costs. If the seller accepts your offer, we should close on the property within 30 to 60 days after. This allows sufficient time for your mortgage financing.

Step 6 – Negotiate the deal
Most contracts aren't closed on the initial offer – it's widely common to receive a counter offer. But don't let it alarm you. We'll consider whether or not to agree to the counter offer, present our own counter offer, or refuse the seller's offer and move on.

Market circumstances will play a vital role in how aggressively we negotiate the deal. We'll also work within your financing budget. And at the end of the day, we'll create a deal that works well for you.

Step 7 – Secure your loan
Once the contract is complete, you'll begin working with your mortgage lender to close the loan. This shouldn't take long at all if you've been pre-qualified, but you'll need to keep in close contact with your mortgage lender. And I'll care for all the property information your mortgage 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 loan application. This estimate is formed from the loan amount, and RESPA requirements dictate that it has to include all closing costs and be within a narrow range of accuracy. I'll study the estimate and let you know if it all looks okay.

Then we'll close on your house. This will most likely take place at a title company or escrow office and will likely be a smooth and calm event.

Step 9 – Move in
Congratulations! Now you can move into your new home. Enjoy it. And if you need anything or have any questions, simply contact me at 307-746-4663 or send me an e-mail.