Buying or selling a home in Lawrence?

With a little planning ahead of time, buying a home isn't very confusing, but it still is intimidating for many people. So you'll know exactly what to expect, we like to provide our buyers with an outline of the whole deal. Here are our nine steps to buying a home.

If you have questions regarding this information or if you're prepared to get started, just contact us here or send e-mail to mortgage11@re-consumer.com.

Step 1 – Prepare to buy
There are many things you should take into account prior to beginning your home search. When you start your search, you'll want to create a list of must-haves, get a plan of what school districts and neighborhoods you'd like to live in, and begin planning your budget. Ensuring your mortgage payment is less than or close to 1/3 of your net monthly income is a good guideline to follow.

Step 2 – Get with a real estate agent
This is where we come in. We can schedule 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 discuss neighborhoods, school districts in the Lawrence area, the mortgage industry, and any other economic factors that might affect your purchase today or in the future.

We can also help you get started on your loan. There are some excellent mortgage professionals in Lawrence, and we work with a lot of them, so you'll be in great hands. They'll help you determine which type of loan is best for you, as well as help you get qualified.

Step 3 – Start house hunting
After our initial meeting, we'll begin searching for homes on the market that are good for you. We'll research most of the houses and reject the duds, and then we'll set up appointments to tour the houses whenever it's convenient for you.

As we tour the houses, we'll identify positive features, as well as bad ones. And we'll ask you about things you like and dislike. It's widely common for buyers to revise their list of must-haves as we view houses and some things become more necessary than others. If such is the case, we'll search all the listings once more and narrow it down to the home you've been waiting for.

Step 4 – Know the market
Our understanding of the Lawrence housing market is an indispensable benefit in your house search. We're conscious of all the neighborhoods and schools, and we'll will let you know some areas are "hot" and demand immediate action and the others that are "cool" and allow for more analysis.

When we view houses, we'll let you know when the asking price has room for bargaining and also when we think the home is "priced to sell." Any REALTOR® will convince you they understand the housing market, but be careful, and make sure you ask lots of questions. If it appears they don't know everything, contact us at 785-843-8566 or e-mail us at mortgage11@re-consumer.com, and we'll be glad to answer any questions you have. Our market knowledge will keep you a step above the rest through the entire deal.

Step 5 – Find the house you've been looking for
We're sure we'll find your dream house in Lawrence. When that happens, we'll precisely develop your home purchase offer. The offer will be tailored to suit your needs, including several contingencies, such as obtaining financing, carrying out the inspection, and a clean title.

Let Miller & Midyett Real Estate guide you through finding your dream home in Lawrence When turning in your purchase offer, you'll probably need to submit "earnest money." This is a cash deposit made to the home seller to secure the offer to purchase the property and is typically applied to the cost of closing. If the offer is accepted, we should close on the property about 30 to 60 days afterward. This allows sufficient time for your mortgage financing.

Step 6 – Negotiate the deal
Most contracts don't close on the initial offer – it's widely common to receive a counter offer. But don't let this alarm you. We'll consider whether or not to consent to the counter offer, propose our own counter offer, or reject the seller's offer and go on.

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

Step 7 – Get a loan
Upon completion of the deal, you'll start working with your mortgage lender to close the loan. It won't take very long at all if you're already pre-qualified, but you should to keep in close contact with your lender. And we'll deal with 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) detailing your closing costs from your lender within three days of receiving your loan application. The estimate is based on the loan amount. RESPA requirements dictate that it has to contain all closing costs and fall within a tight range of accuracy, and we'll examine the estimate and let you know if it all looks okay.

Then it's time to close on your house. This should occur at a title company or escrow office and should be a smooth and easygoing event.

Step 9 – Move in
Congratulations! It's time to move into your new home. Enjoy it. And if you need anything, be sure to contact us at 785-843-8566 or send us an e-mail.

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