Buying or selling a home in Lexington? Homes & Horse Farms Real Estate can help.

Buying a home is a stressful event for many people, but with a bit of up-front planning, it isn't that confusing. I like to supply buyers with an outline of the whole deal so they'll understand exactly what to expect. These 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 purchase a home
Before you begin looking for a home, there are several things you should contemplate. When you start your search, you'll want to create an index of features you want to have, get a feeling for what neighborhoods you'd like to live in, and begin working on your budget. Ensuring your mortgage payment is less than 30 percent of your monthly income is a good rule to follow.

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

I'll also help you begin the loan process. Homes & Horse Farms Real Estate works with some of Lexington's best mortgage professionals, so you're in great hands. They'll help you figure out which kind of loan is best for you, as well as help you get qualified.

Step 3 – Begin house hunting
After our first meeting, I'll start finding houses on the market that meet your needs. I'll preview most of the homes and throw out the bad ones, and then we'll set up appointments to view the houses when it's most convenient for you.

As we view the homes, I'll identify positive features and bad ones. I'll even ask you to tell us about things you like and don't like. Generally, buyers revise their wish list as we tour houses and some things become more essential than others. If that's the situation, I'll search the listings another time and narrow it down to the home you've been wishing for.

Step 4 – Understand the market
My awareness of the Lexington housing market is a necessary component in your house search. I am familiar with all the school districts and neighborhoods, and I'll communicate certain neighborhoods are "hot" and warrant prompt action and some that are "cool" and allow for more analysis.

When we tour houses, I'll be sure to tell you when the seller's list price has room for negotiation and also when I believe the home is "priced to sell." When working with an agent, be careful and make sure you ask plenty of questions. Any REALTOR will tell you they truly understand the home market. If it doesn't seem like they know everything, call me at (859) 576-1877 or e-mail me at , and I'd be more than happy to answer any questions you may have. My knowledge of the market will keep you a step above the rest throughout the entire deal.

Step 5 – Find your dream home
We'll find the house of your dreams in Lexington, and when that happens, I'll carefully create your home purchase offer. The offer will be tailored with your needs in mind and the home, including a lot of contingencies, such as getting financing, carrying out the home inspection, and a clean title.

Upon turning in your offer, you'll need to present "earnest money." This is a cash deposit submitted to the home seller to secure the offer to purchase the property. The amount is most often applied to the cost of closing. If your offer is accepted by the seller, we should close on the property about 30 to 60 days after. This allows plenty of time for your mortgage financing.

Step 6 – Negotiate the deal
Most contracts don't close on the first offer, and it's extremely common to receive a counter offer. But don't let it discourage you. We'll figure out whether or not to agree to the counter offer, present our own counter offer, or refuse the seller's offer and move on.

The state of the market determines how aggressively we negotiate the contract. We'll also work within your financing constraints. And at the end of the day, we'll create a contract that is best for you.

Step 7 – Obtain your loan
Once the contract is finished, you'll start working with your mortgage lender to close the loan. If you've been pre-approved, this shouldn't take much time at all, but you need to keep in close contact with your mortgage lender. And I'll care for all the property information your mortgage lender needs to close the loan.

Step 8 – Close the deal
Your mortgage lender will give you a Loan Estimate (LE) detailing closing costs within three days of getting your application. You'll get a Loan Estimate (LE) of closing costs from your lender within three days of getting your application. The estimate is formed from the loan amount. RESPA requirements require that it has to include all closing costs and be within a precise range of accuracy, and I'll study the estimate and let you know if it all looks adequate.

Then we'll close on your house. This should take place at a title company or escrow office and will likely be a smooth and stress-free occasion.

Step 9 – Move in
Congratulations! Now you can move into your new house. Enjoy it. And if you need anything, simply call me at (859) 576-1877 or e-mail me at .

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