Are you buying a new home in Annapolis?

With some up-front planning, purchasing a home isn't very complex, but the event can be stressful for many people. I like to supply buyers with an outline of the entire deal so they'll understand exactly what they can expect. Below are my nine steps to buying a home. If you have any questions regarding this information or if you're ready to get started, simply contact me here or e-mail me at .

Step 1 – Prepare to purchase
Prior to starting your home search, there are many things you'll want to take into account. When you start your search, you'll probably want to assemble a check list of items you want to have, get an idea of what neighborhoods and school districts you want to live in, and begin planning around your budget. Keeping your mortgage payment less than or around a third of your monthly income is a good rule of thumb to go by.

Step 2 – Get in touch with a real estate agent in Annapolis
That's where I can help. I'd be happy to set up a time to meet with you and communicate with you regarding your real estate needs and get an idea of your future plans. We'll talk about everything from neighborhoods, schools in the Annapolis area, the mortgage industry, to any other economic factors that could affect your buying decision today or in the future.

In addition, I'll assist you with getting started on your loan. There are some very good mortgage professionals in Annapolis, and I partner with a lot of them, 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 approved.

Step 3 – Begin house hunting
After our first meeting, I'll begin looking for homes on the market that are great for you. I'll preview many of the homes and reject the bad ones, and then we'll book appointments to tour the homes at a time that's convenient for you.

As we view houses, I'll call attention to positive features and negative ones. I'll even ask you to tell us about things you like and dislike. It's common for buyers to update their must-have list as we view homes and some features become far more crucial than others. If that's the situation, I'll search all the listings once again and narrow it down to the home of your dreams.

Step 4 – Get a grasp of the market
My knowledge of the Annapolis housing market is an essential factor in your home search. I'm conscious of all the schools and neighborhoods, and I can let you know some districts are "hot" and demand prompt action and some that are "cool" and allow for more analysis.

When we tour homes, I'll let you know when the list price has room for negotiation and also when I believe the house is "priced to sell." When working with an agent, be mindful and be sure to ask lots of questions, as any REALTOR in Annapolis will tell you they truly understand 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 knowledge will help you stay a step above the rest throughout the entire process.

Step 5 – Find the home you've been looking for
We'll find your dream home in the Annapolis area, and when we do, I'll precisely create your home purchase offer. The offer will be made to suit your needs and the home. We'll include many contingencies, such as getting financing, carrying out the inspection, and a clear title.

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

Step 6 – Negotiate
Most deals aren't closed on the first offer – it's widely common to receive a counter offer. Don't let it alarm you. We'll talk about whether or not to take the counter offer, submit our own counter offer, or refuse the seller's offer and go on.

Market conditions will play a role in how aggressively we negotiate the contract. We'll also work within your financing budget. And when it's all said and done, we'll compose a deal that works well for you.

Step 7 – Get a loan
Once the deal is signed, you'll begin working with your mortgage lender to close the loan. If you're pre-qualified, this won't take much time at all. However, you should to keep in close contact with your mortgage lender. And I'll care for all the property information your lender will need to close the loan.

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

Then we'll close on your house. This will probably happen at a title company or escrow office and will most often be a smooth and relaxing occurrence.

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 410-647-8000 ext. 817 or e-mail me at .