Are you contemplating purchasing your new home in Annapolis? Berkshire Hathaway Home Services PenFed Realty can help.

Purchasing a home is a stressful event for a lot of people. However, with some up-front planning, it isn't very confusing. So they understand exactly what they can expect, I like to supply buyers with an outline of the whole deal. Here are my nine steps to buying a home. When you're ready to get started, simply contact me here or e-mail me at . I'm glad to address questions you have regarding this information.

Step 1 – Get ready to buy
There are plenty of things you'll want to consider before you start looking for a home. You'll want to put together a check list of items you need, get a feel for what school districts and neighborhoods you'd like to live in, and begin planning around your budget. A good guideline to follow is that your mortgage payment should be less than a third of your net monthly income.

Step 2 – Speak with a real estate agent
This is where I come in. I'd like to schedule a time to meet with you and speak with you about your real estate needs and get an idea of your upcoming plans. We'll talk about everything from neighborhoods, school districts in the Annapolis area, the mortgage industry, to any other economic factors that may affect your purchase today or in the future.

In addition, I'll assist you in getting started on your loan. I work with some of Annapolis's finest mortgage professionals, so you can rest assured that you're in great hands. They can help you decide which kind of loan is best for you, as well as help you get qualified.

Step 3 – Start your home search
After we meet for the first time, I'll begin searching for houses on the market that are a good fit for you. I'll get a sneak peek of many of the houses and eliminate the bad ones, and then we'll set up appointments to tour the homes whenever it's convenient for you.

When we view the homes, I'll identify positive features and bad ones. I'll also ask you about things you like and dislike. It's common for buyers to change their must-have list as we tour homes and some features become more necessary than others. If that happens, I'll look through the listings once again and narrow it down to the home of your dreams.

Step 4 – Get a grasp of the housing market
An agent's awareness of the Annapolis home market is a necessary agent in your home search. And I assure you I'm informed of all the neighborhoods and school districts, and I'll alert you to which districts are "hot" and demand prompt action and the ones that are "cool" and allow for cautiousness.

When we view homes, I'll be sure to tell you if the seller's asking price has room for bargaining or if I believe the home is "priced to sell." Be on guard and make sure you ask plenty of questions, as any REALTOR will claim to comprehend the home market. If things don't add up, contact me at 410-647-8000 ext. 817 or e-mail me at , and I'll be glad to answer your questions. My market expertise will help you stay a step ahead throughout the entire process.

Step 5 – Find the home you've been waiting for
We'll find the house of your dreams in Annapolis, and when we do, I'll precisely create your home purchase offer. The offer will be made to fit your needs and the home. We'll include many contingencies, such as acquiring financing, completing the inspection, and a clean title.

When turning in your purchase offer, most likely you'll want to present "earnest money." This is a cash deposit made to the seller to secure an offer to purchase the property and is often put towards the closing costs. If the offer is accepted by the seller, we should close about 30 to 60 days afterward. This allows sufficient time for your mortgage financing.

Step 6 – Negotiate
Unfortunately most deals don't close on the first offer. It's extremely common to receive a counter offer. Don't let it intimidate you. We'll talk about whether or not to consent to the counter offer, propose our own counter offer, or refuse the seller's offer and move on.

Market conditions will play a big part in how aggressively we negotiate the contract. We'll also work within your budget. And at the end of the day, we'll assemble a contract that is best for you.

Step 7 – Secure a loan
Upon completion of the contract, you'll begin working with your mortgage lender to close the loan. If you're already pre-qualified, this shouldn't take long at all. But you'll want to stay in close contact with your lender. And I'll handle all the property information your lender needs to close the loan.

Step 8 – Close the deal
Your mortgage lender will send you a Loan Estimate (LE) detailing closing costs within three days of getting your loan application. You'll get a Loan Estimate (LE) outlining your closing costs from your mortgage lender within three days of receiving your loan application. This estimate is formed from the loan amount. RESPA requirements dictate 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 okay.

Then it's time to close on your home. This will most often take place at a title company or escrow office and is often a smooth and stress-free event.

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