Are you purchasing a new home in Pensacola?

Purchasing a home is intimidating for a lot of people, but with some up-front planning, it isn't very confusing. So you'll understand exactly what to expect, we like to supply our buyers with an overview of the whole deal. These are our nine steps to purchasing a home.

Step 1 – Get ready to purchase a home
Prior to beginning your home search, there are many things you'll want to do. When you start your search, you'll probably want to make a check list of items you need, plan for what neighborhoods you'd like to live in, and start planning around your budget. Keeping your mortgage payment less than 30 percent of your monthly income is a good rule of thumb to adhere to.

Step 2 – Get with a real estate agent
That's where we come in. We can plan a time to meet so we can talk about your real estate needs and get an idea of your upcoming plans. We'll talk about everything from neighborhoods, school districts in the Pensacola area, the mortgage and housing industries, to any other economic factors that could potentially affect your buying decision today or in the future.

We'll also help you start the loan process. Xcellence Realty INC partners with some of Pensacola's best mortgage professionals, so you're in great hands. They'll assist you in deciding which kind of loan is best for you and help you get qualified.

Step 3 – Begin looking
After our initial meeting, we'll begin finding available houses on the market that are a great fit for you. We'll get a sneak peek of many of the houses and ignore the duds, and then we'll schedule appointments to tour the homes whenever it's convenient for you.

As we tour houses, we'll show you the good features, as well as negative ones. we'll even ask you to point out what things you like and dislike. For the most part, buyers revise their must-have list as we tour houses and some features become far more essential than others. If that's the case, we'll search all the listings once more and trim it down to the home you've been dreaming about.

Step 4 – Know the market
Your agent's understanding of the Pensacola housing market is a fundamental aspect in your home search. And we assure you we're very familiar with all the neighborhoods and schools, and we'll alert you to what districts are "hot" and demand immediate action and the ones that are "cool" and allow for careful examination.

When we tour homes, we'll let you know when the asking price has room for bargaining and when we trust the home is "priced to sell." Any REALTOR^® in Pensacola will convince you they truly know the home market, but be on guard, and make sure you ask your agent lots of questions. If things don't add up, call us at 850-232-8844 or e-mail us at maria@paradisehome4u.com, and we'd be glad to answer any questions you have. Our market expertise will keep you a step above the rest through the entire deal.

Step 5 – Find the home you've been looking for
We're sure we'll find the home of your dreams in Pensacola. When that happens, we'll precisely develop your home purchase offer. The offer will be tailored keeping your needs in mind, including a lot of contingencies, such as acquiring financing, finishing the inspection, and a clean title.

When we present your offer, you'll need to present "earnest money." This is a cash deposit submitted to a seller to secure an offer to purchase the property. The amount is usually applied to the closing costs. If the offer is accepted, we should close on the property within 30 to 60 days after. This allows enough time for your mortgage financing.

Step 6 – Negotiate
Most contracts don't close on the first offer. It's very common to receive a counter offer. But don't let this discourage you. We'll consider whether or not to accept the counter offer, present our own counter offer, or reject the seller's offer and go on.

Market conditions determine how aggressively we negotiate the contract. We'll also work within your financing budget. And at the end of the day, we'll formulate a deal that is best for you.

Step 7 – Secure financing
After the contract is complete, you'll start working with your lender to close the loan. If you've been pre-approved, it shouldn't take long at all. However, you'll want to keep in close contact with your lender. And we'll sort out all the property information your lender needs to close the loan.>

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

Then we'll close on your home. This should take place at a title company or escrow office and will most often be a smooth and easygoing occasion.

Step 9 – Move in
Success! It's time to move into your new house. Enjoy it. And if you need anything, make sure you call us at 850-232-8844 or send us an e-mail.