Let Carmen Chapa Real Estate, LLC. help you with purchasing a new home in Dallas

Buying a home is intimidating for a lot of people. However, with a bit of planning ahead of time, it isn't too complicated. I like to furnish buyers with an overview of the entire deal so they'll know exactly what to expect. Here are my nine steps to purchasing a home.

Step 1 – Prepare to purchase a home
Before you commence your home search, there are a lot of things you need to contemplate. When you start your search, you'll probably want to create a check list of must-haves, get a plan of what neighborhoods you want to live in, and start planning your budget. A good rule to follow is that your mortgage payment should be less than or close to 1/3 of your monthly income.

Step 2 – Contact a real estate agent in Dallas
That's where I come in. I can arrange 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 and housing industries, other economic factors that could potentially affect your buying decision today or in the future, as well as neighborhoods and schools in the Dallas area.

In addition, I'll assist you with getting started on your loan. There are some very good mortgage professionals in Dallas, and I partner with a lot of them, so you're in great hands. They can assist you in determining which kind of loan is best for you and help you get approved.

Step 3 – Begin looking
Following our initial meeting, I'll begin looking for available homes on the market that suit your needs. I'll get a sneak peek of many of the homes and ignore the bad ones, and then we'll schedule appointments to view the homes whenever it's most convenient for you.

As we view houses, I'll call attention to positive features and bad ones. I'll also ask you to talk about things you like and dislike. It's common for buyers to update their list of must-haves as we tour homes and some things become far more essential than others. If such is the case, I'll go back through all the listings again and narrow it down to the home of your dreams.

Step 4 – Get a grasp of the housing market
Your agent's knowledge of the Dallas market is a crucial element in your house search. And I assure you I'm mindful of all the school districts and neighborhoods, and I will let you know certain neighborhoods are "hot" and warrant prompt action and the rest that are "cold" and allow for thoughtful examination.

As we tour homes, I'll make sure to communicate if the seller's list price has room for bargaining or if I believe the home is "priced to sell." Any real estate agent will tell you they comprehend the housing market, but beware, and make sure you ask your agent a lot of questions. If things don't add up, contact me at (214) 536-2410 or e-mail me at carmen@carmenchapa.com, and I'll be glad to answer any questions you may have. My market expertise will help you stay a step above the rest through the entire deal.

Step 5 – Find the house you've been waiting for
I know we'll find your dream house in Dallas. When that happens, I'll thoroughly create your purchase offer. The offer will be tailored to suit your needs, including several contingencies, such as getting financing, completing the inspection, and a clean title.

When sending in your purchase offer, you'll likely want to submit "earnest money." This is a cash deposit made to the seller to secure the offer to buy the property, and it's typically applied to the closing costs. If the seller accepts your offer, we should close on the home within 30 to 60 days after. This allows plenty of time for your mortgage financing.

Step 6 – Negotiate the deal
A lot of deals don't close on the first offer. It's extremely common to receive a counter offer. But don't let it intimidate you. We'll discuss whether or not to agree to the counter offer, propose our own counter offer, or decline the seller's offer and go on.

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

Step 7 – Get your loan
Once the deal is complete, you'll begin working with your mortgage lender to close the loan. If you're already pre-approved, it won't take very long at all, but you should to keep in close contact with your mortgage lender. And I'll take care of all the property information your lender needs to close the loan.>

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

Then it's time to close on your house. This will likely occur at a title company or escrow office and will likely be a smooth and relaxed affair.

Step 9 – Move in
You made it! It's time to move into your new home. Enjoy it. And if you need anything, simply call me at (214) 536-2410 or send me an e-mail.