Buying or selling a home?

	Should you have any questions about any of this information or if you're prepared to get started, simply contact me here or e-mail me at david@drdvaluation.com.

Step 1 – Prepare to buy a home
There are several things you should do before you search for a home. It's likely that you'll want to assemble a list of features you need, get an idea of what school districts you want to live in, and begin working on your budget. Ensuring your mortgage payment is less than or close to a third of your net monthly income is a good rule of thumb to go by.

Step 2 – Communicate with a real estate agent in Addison
This is where DRD Realty can help. We'll plan a time to meet so we can talk about why you want to buy a home and get an idea of your upcoming plans. We'll discuss everything from neighborhoods, schools in the Addison area, the mortgage and housing industries, to any other economic factors that might affect your buying decision today or in the future.

I'll also help you start the loan process. There are some very good mortgage professionals in Addison, and I partner with a lot of them, so you'll be in great hands. They will help you figure out which kind of loan is best for you, as well as help you get qualified.

Step 3 – Start looking for a house
After our initial meeting, I'll start searching for available homes on the market that are a great fit for you. I'll research many of the houses and eliminate the duds, and then we'll book appointments to tour the houses whenever it's most convenient for you.

As we view houses, I'll call attention to good features and bad ones. I'll even ask you about things you like and dislike. For the most part, buyers amend their list of must-haves as we tour houses and some features become far more important than others. If that's the situation, I'll go back through the listings again and narrow it down to the house you've been wishing for.

Step 4 – Get a grasp of the housing market
An agent's knowledge of the Addison market is a leading element in your home search. And I assure you I'm conscious of all the schools and neighborhoods, and I can let you know what neighborhoods are "hot" and require immediate action and the ones that are "cool" and allow for thoughtful consideration.

When we tour houses, I'll let you know if the seller's asking price has room for negotiation or if I believe the home is "priced to sell." Be careful and be sure to ask your agent a lot of questions, as every REALTOR^® will tell you they understand the housing market. If things don't add up, call me at 972-395-3700 or e-mail me at david@drdvaluation.com, and I'll be glad to answer any questions you may have. My knowledge of the market will help you stay a step above the rest throughout the entire process.

Step 5 – Find the house you've been waiting for
I'm certain we'll find the house of your dreams in the Addison area. When that happens, I'll precisely create your purchase offer. The offer will be tailored with your needs in mind, including some contingencies. A few examples are obtaining financing, finishing the inspection, and a clean title.

Upon sending in your offer, most likely you'll need to submit "earnest money." This is a cash deposit given to the seller to secure the offer to buy the property, and it's usually applied to the cost of closing. If your offer is accepted, we should close on the property about 30 to 60 days after. This allows enough time for your mortgage financing.

Step 6 – Negotiate the deal
Most contracts don't close on the initial offer, and it's widely common to receive a counter offer. Don't let it discourage you. We'll talk over whether or not to agree to the counter offer, submit our own counter offer, or refuse the seller's offer and move on.

The state of the market determines how aggressively we negotiate the deal. We'll also work within your financing budget. And when it's all said and done, we'll create a contract that works well for you.

Step 7 – Get your loan
Upon completion of the contract, you'll begin working with your lender to close the loan. This won't take very long at all if you've been pre-approved, but you should to keep in close contact with your mortgage lender. And I'll sort out 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 closing costs from your mortgage lender within three days of getting your application. The estimate depends on the loan amount. RESPA requirements require that it has to contain all closing costs and fall within a precise range of accuracy, and I'll review the estimate and let you know if everything looks okay.

Then we'll close on your house. This should take place at a title company or escrow office and should be a smooth and comfortable affair.

Step 9 – Move in
Congratulations! Now you can move into your new house. Enjoy it. And if you need anything or have any questions, simply call me at 972-395-3700 or send me an e-mail.