Looking to purchase your home in Morganfield? Red Hat Realty and Auction can help.

Purchasing a home is stressful for most people. However, with a little up-front planning, it's not very difficult. I like to supply buyers with an outline of the entire deal so they know exactly what to expect. Here are my nine steps to buying a home.

When you're ready to get started, just contact me here or send e-mail to secretary_redhat@bellsouth.net. I'm happy to answer any questions you have regarding this information.

Step 1 – Get ready to buy
Prior to starting your home search, there are plenty of things you'll want to contemplate. You'll want to put together a checklist of features you want to have, get a feel for what school districts you'd like to live in, and begin planning your budget. A good principle to follow is that your mortgage payment should be 30 percent of your monthly income.

Step 2 – Talk to a real estate agent in Morganfield
That's where I can help. We can set up a time to get together so we can talk about why you want to buy a home and get an idea of your upcoming plans. We'll talk about neighborhoods, schools in the Morganfield area, the mortgage and housing industries, and any other economic factors that might affect your purchase today or in the future.

I can also help you get started on your loan. Red Hat Realty and Auction partners with some of Morganfield's finest mortgage professionals, so you're in great hands. They'll help you decide which type of loan is best for you, as well as help you get qualified.

Step 3 – Begin looking for a house
Following our initial meeting, I'll begin finding available houses on the market that are a great fit for you. I'll research many of the homes and exclude the bad ones, and then we'll schedule appointments to view the homes whenever it's most convenient for you.

When we view houses, I'll point out positive features and negative ones. I'll also ask you to talk about things you like and don't like. Oftentimes, buyers revise their wish list as we tour homes and some items become more substantial than others. If such is the case, I'll look through all the listings once more and narrow it down to the house you've been wishing for.

Step 4 – Get a feel for the market
Your agent's understanding of the Morganfield housing market is a fundamental aspect in your house search. And I assure you I'm familiar with all the schools and neighborhoods, and I'll alert you to some neighborhoods are "hot" and call for prompt action and some that are "cool" and allow for thoughtful analysis.

As we view houses, I'll make sure to communicate when the list price has room for bargaining and also when I believe the house is "priced to sell." Any REALTOR® in Morganfield will convince you they comprehend the market, but take notice, and be sure to ask your agent plenty of questions. If things don't add up, just call me at (270) 389-0370 or e-mail me at secretary_redhat@bellsouth.net, and I'll be more than happy to answer any questions you might have. My market expertise will keep you a step above the rest through the entire deal.

Step 5 – Find the home you've been waiting for
I'm positive we'll find your dream house in Morganfield, and when we do, I'll meticulously develop your real estate purchase offer. The offer will be tailored with your needs in mind. Whenever necessary, I never forget to make contracts contingent upon items like obtaining financing and the results of the home inspection.

Let Red Hat Realty and Auction guide you through finding your dream home in Morganfield Upon presenting your purchase offer, you'll probably want to present "earnest money." This is a cash deposit made to a seller to secure the offer to purchase the property and is usually put towards the cost of closing. If the seller accepts your offer, we should close within 30 to 60 days after. This allows ample time for your mortgage financing.

Step 6 – Negotiate the deal
A lot of deals aren't closed on the first offer, and it's widely common to receive a counter offer. But don't let it alarm you. We'll talk about whether or not to accept the counter offer, submit our own counter offer, or decline the seller's offer and move on.

The state of the market will play a part in how aggressively we negotiate the contract. We'll also work within your financing constraints. And at the end of the day, we'll compose a deal that works well for you.

Step 7 – Get financing
Once we sign the final sales contract, you'll start working with your lender to close the loan. It won't be a long process at all if you're already pre-approved, but you need to stay in close contact with your mortgage lender. And I'll manage all the property information your lender will need to close the loan.

Step 8 – Close the deal
Your mortgage lender will furnish you with a Good Faith Estimate (GFE) of closing costs within three days of getting your loan application. You'll get a Good Faith Estimate (GFE) outlining closing costs from your mortgage lender within three days of taking your loan application. The estimate depends on the loan amount. RESPA requirements dictate that it has to include all closing costs and be within a close range of accuracy, and I'll study the estimate and let you know if everything looks good.

Then it's time to close on your house. This will likely take place at a title company or escrow office and will probably be a smooth and stress-free occurrence.

Step 9 – Move in
Congratulations! Now you can move into your new home. Enjoy it. And if you need anything, be sure to call me at (270) 389-0370 or send me an e-mail.