Are you contemplating buying a home in Annapolis? Berkshire Hathaway Home Services PenFed Realty can help.

Purchasing a home is a stressful event for a lot of people, but with a bit of up-front planning, it's not very confusing. So they know exactly what to expect, I like to provide buyers with an overview of the whole deal. Below are my nine steps to purchasing a home. Should you have questions about this information or if you're prepared to get started, simply contact me here or e-mail me at .

Step 1 – Prepare to buy
Before you begin searching for a home, there are a lot of things you'll want to contemplate. It's likely that you'll want to make an outline of must-have features, get an idea of what neighborhoods and school districts you'd like to live in, and begin planning around your budget. Keeping your mortgage payment less than 1/3 of your monthly income is a good rule to adhere to.

Step 2 – Contact a real estate agent in Annapolis
This is where Berkshire Hathaway Home Services PenFed Realty can help. We'll arrange 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 talk about neighborhoods, schools in the Annapolis area, the mortgage and housing industries, and any additional economic factors that might affect your purchase today or in the future.

I can also help you get started on your loan. I partner with some of the best mortgage professionals in Annapolis, so you'll be in great hands. They'll help you decide which type of loan is best for you, as well as help you get qualified.

Step 3 – Start your search
After we meet for the first time, I'll start looking for houses on the market that are great for you. I'll research most of the houses and eliminate the duds, and then we'll set up appointments to tour the houses whenever it's convenient for you.

As we tour the houses, I'll call attention to good features and bad ones. And I'll ask you to tell us about things you like and dislike. It's pretty common for buyers to amend their list of must-haves as we tour homes and some things become far more important than others. If that's the case, I'll look through all the listings once more and trim it down to the home you've been wishing for.

Step 4 – Get a grasp of the market
An agent's understanding of the Annapolis market is a leading component in your house search. And I can assure you I'm mindful of all the schools and neighborhoods, and I'll let you know some areas are "hot" and require prompt action and the ones that are "cold" and allow for thoughtful examination.

As we view houses, I'll make sure to communicate if the seller's asking price has room for bargaining or if I believe the home is "priced to sell." Trust your instincts and make sure you ask lots of questions, as every real estate agent will convince you they truly know the market. If it appears they don't know everything, call me at 410-647-8000 ext. 817 or e-mail me at , and I'd be happy to answer any questions you may have. My market knowledge will keep you a step ahead through the entire process.

Step 5 – Find your dream house
I know we'll find the house of your dreams in Annapolis. When that happens, I'll thoroughly develop your real estate purchase offer. The offer will be tailored with your needs in mind and the home, including several contingencies. A few examples are obtaining financing, finishing the home inspection, and a clear title.

When submitting your purchase offer, you'll need to present "earnest money." This is a cash deposit given to a seller to secure an offer to purchase the property. The amount is typically put towards the closing costs. If the 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
A lot of contracts aren't closed on the first offer, and it's extremely common to receive a counter offer. But don't let this intimidate you. We'll talk over whether or not to consent to the counter offer, propose our own counter offer, or refuse the seller's offer and go on.

Market conditions will play a large role in how aggressively we negotiate the contract. In addition, we'll work within your financing budget. And at the end of the day, we'll formulate a contract that's best for you.

Step 7 – Secure financing
Once we sign the final deal, you'll start working with your lender to close the loan. If you're already pre-qualified, it shouldn't be a long process at all. However, you should to stay in close contact with your lender. And I'll manage all the property information your mortgage lender will need to close the loan.

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

Then it's time to close on your house. This will probably happen at a title company or escrow office and should be a smooth and comfortable occurrence.

Step 9 – Move in
Congratulations! It's time to move into your new house. Enjoy it. And if you have any questions, make sure you contact me at 410-647-8000 ext. 817 or e-mail me at .