Teddy Castro Group - NeXGen Real Estate
Find A Home Why Choose Us Looking to Sell? Looking to Buy? Meet The Broker Contact Us

Buying or selling a home?

For a lot of people, buying a home can be a stressful event. However, with a bit of up-front planning, it isn't very complicated. So they'll know exactly what they can expect, I will give buyers an outline of the whole deal. Here are my nine steps to purchasing a home. When you're ready to get started, just contact me here or e-mail me at . I'm happy to address any questions you have regarding this information.

Step 1 – Prepare to buy
There are several things you'll want to take into account prior to beginning your home search. You'll most likely want to put together an outline of features you want, get an idea of what neighborhoods and school districts you want to live in, and start planning around your budget. Keeping your mortgage payment less than or close to 1/3 of your monthly income is a good guideline to follow.

Step 2 – Talk to a real estate agent in Litchfield Park
That's where I come in. We can plan a time to meet so we can talk about why you want to buy a home and get an idea of your plans for the future. We'll discuss neighborhoods, schools in the Litchfield Park area, the mortgage industry, and any additional economic factors that could potentially affect your buying decision today or in the future.

I can also assist you with getting started on your loan. There are some great mortgage professionals in Litchfield Park, and I partner with a lot of them, so you'll be in great hands. They will assist you with deciding which kind of loan is best for you and help you get approved.

Step 3 – Begin looking for a home
After we meet for the first time, I'll begin looking for available houses on the market that are great for you. I'll preview most of the homes and reject the bad ones, and then we'll set up appointments to tour the houses at a time that's convenient for you.

As we tour houses, I'll call attention to positive features and negative ones. I'll even ask you what things you like and don't like. As a rule, buyers revise their wish list as we tour houses and some features become more substantial than others. If that's the situation, I'll search the listings once again and narrow it down to the home of your dreams.

Step 4 – Get a grasp of the housing market
My awareness of the Litchfield Park home market is a necessary element in your home search. I'm informed of all the neighborhoods and schools, and I'll alert you to which neighborhoods are "hot" and demand immediate action and others that are "cold" and allow for careful consideration.

As we view homes, I'll be sure to tell you if the asking price has room for bargaining or if I believe the home is "priced to sell." Every real estate agent in Litchfield Park will tell you they truly know the housing market, but be careful, and be sure to ask lots of questions. If things don't add up, just call me at (623) 536-2229 or e-mail me at , and I'll be happy to answer any questions you might have. My market expertise will keep you a step above the rest throughout the entire deal.

Step 5 – Find your dream house
I'm confident we'll find the home of your dreams in Litchfield Park. When that happens, I'll meticulously create your real estate purchase offer. The offer will be tailored with your needs in mind and the home, including some contingencies, such as obtaining financing, finishing the inspection, and a clean title.

Upon presenting your purchase offer, most likely you'll want to submit "earnest money." This is a cash deposit submitted to the home seller to secure the offer to purchase the property. The amount is often put towards the cost of closing. If the seller accepts your offer, we should close on the home about 30 to 60 days after. This allows necessary time for your mortgage financing.

Step 6 – Negotiate the deal
Unfortunately most deals aren't closed on the beginning offer, and it's pretty common to receive a counter offer. But don't let it intimidate you. We'll talk about whether or not to accept the counter offer, submit our own counter offer, or refuse the seller's offer and go on.

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

Step 7 – Get financing
Upon completing the contract, you'll start working with your lender to close the loan. It won't take long at all if you're already pre-approved, but you should to stay in close contact with your lender. And I'll look after all the property information your lender needs to close the loan.

Step 8 – Close the deal
You'll get a Loan Estimate (LE) detailing closing costs from your mortgage lender within three days of getting your loan application. The estimate is based on the loan amount, and RESPA requirements dictate that it has to include all closing costs and be within a strict range of accuracy. I'll examine the estimate and let you know if it all looks okay.

Then we'll close on your house. This will most likely take place at a title company or escrow office and will probably be a smooth and easygoing affair.

Step 9 – Move in
Congratulations! Now you can move into your new home. Enjoy it. And if you have any questions, be sure to call me at (623) 536-2229 or e-mail me at .