Are you purchasing a home in Prescott?

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

Step 1 – Prepare to buy a home
Before you begin searching for a home, there are plenty of things you'll want to contemplate. When you start your search, you'll probably want to put together an outline of items you need to have, get a plan of what neighborhoods and school districts you want to live in, and start planning your budget. Ensuring your mortgage payment is less than a third of your monthly income is a good guideline to go by.

Step 2 – Contact a real estate agent in Prescott
This is where I come in. We can arrange a time to meet so we can talk about why you want to buy a home and get an idea of your future plans. We'll talk about neighborhoods, schools in the Prescott area, the mortgage industry, and any other economic factors that may potentially affect your purchase today or in the future.

I can also help you begin the loan process. There are some great mortgage professionals in Prescott, and I work with a lot of them, so you can rest assured that you're in great hands. They will assist you with figuring out which kind of loan is best for you and help you get approved.

Step 3 – Start looking for a house
Following our first meeting, I'll start searching for available houses on the market that meet your needs. I'll research many of the homes and reject the duds, and then we'll schedule appointments to view the houses at a time that's convenient for you.

When we view homes, I'll show you the good features and negative ones. I'll also ask you what things you like and dislike. It's common for buyers to revise their list of must-haves as we view houses and some items become far more substantial than others. If that's the situation, I'll search all the listings once again and trim it down to the house you've been dreaming about.

Step 4 – Know the housing market
An agent's knowledge of the Prescott market is a crucial component in your home search. And I can assure you I'm conscious of all the neighborhoods and school districts, and I will communicate certain areas are "hot" and demand immediate action and some that are "cold" and allow for more examination.

As we tour houses, I'll make sure to communicate when the seller's list price has room for negotiation and when I think the house is "priced to sell." Any REALTOR^® in Prescott will tell you they understand the home market, but be wary, and be sure to ask your agent plenty of questions. If it appears they don't know everything, just call me at 928-237-4400 or e-mail me at pamelamartin@realtyexecutives.com, and I'd be happy to answer any questions you have. My understanding of the market will keep you a step ahead throughout the entire deal.

Step 5 – Find your dream home
We'll find the house of your dreams in the Prescott area, and when we do, I'll thoroughly develop your 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.

When we send in your purchase offer, you'll want to present "earnest money." This is a cash deposit given to a home seller to secure an offer to purchase the property. The amount is typically applied to the cost of closing. If your offer is accepted, we should close on the property within 30 to 60 days after. This allows sufficient time for your mortgage financing.

Step 6 – Negotiate
A lot of contracts don't close on the beginning offer – it's widely common to receive a counter offer. But don't let it intimidate you. We'll figure out whether or not to consent to the counter offer, propose our own counter offer, or decline the seller's offer and move on.

Market circumstances will play a big part in how aggressively we negotiate the deal. We'll also work within your financing constraints. And when it's all said and done, we'll compose a contract that is best for you.

Step 7 – Obtain financing
Once the contract is complete, you'll start working with your lender to close the loan. This won't take long at all if you're already pre-approved, but you need to keep in close contact with your lender. And I'll handle all the property information your mortgage lender will need to close the loan.

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

Then it's time to close on your house. This will most likely take place at a title company or escrow office and will likely be a smooth and pleasant event.

Step 9 – Move in
Congratulations! It's time to move into your new house. Enjoy it. And if you need anything or have any questions, simply contact me at 928-237-4400 or send me an e-mail.