Let Berkshire Hathaway Home Services PenFed Realty assist you with purchasing a new home in Annapolis

Purchasing a home can be stressful for many people. However, with a bit of up-front planning, it isn't too confusing. I like to give buyers a road map of the whole deal so they know exactly what they can expect. Below 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 questions you have regarding this information.

Step 1 – Prepare to buy a home
There are a lot of things you'll want to contemplate before starting your home search. You'll probably want to put together a list of features you need, plan for what school districts and neighborhoods you'd like to live in, and begin planning around your budget. Ensuring your mortgage payment is less than or close to 30 percent of your net monthly income is a good principle to follow.

Step 2 – Connect with a real estate agent in Annapolis
That's where I come in. I'd be more than happy to schedule a time to get together with you and talk about your real estate needs and get an idea of your plans for the future. We'll talk about everything from neighborhoods, school districts in the Annapolis area, the mortgage and housing industries, to any other economic factors that may potentially affect your buying decision today or in the future.

In addition, I'll help you begin the loan process. I partner with some of Annapolis's finest mortgage professionals, so you're in great hands. They will help you choose which kind of loan is best for you, as well as help you get approved.

Step 3 – Begin your search
Following our initial meeting, I'll start searching for houses on the market that best suit you. I'll research most of the homes and ignore the bad ones, and then we'll book appointments to tour the houses whenever it's most convenient for you.

As we view houses, I'll show you the positive features, as well as negative ones. And I'll ask you about things you like and dislike. It's widely common for buyers to amend their must-have list as we tour homes and some things become more important than others. If that's the situation, I'll search all the listings once more and trim it down to the house you've been waiting for.

Step 4 – Get a grasp of the market
My understanding of the Annapolis market is a leading agent in your home search. I'm familiar with all the schools and neighborhoods, and I can alert you to which districts are "hot" and require immediate action and the ones that are "cold" and allow for more consideration.

When we view houses, I'll be sure to tell you when the asking price has room for bargaining and when I know the house is "priced to sell." Any real estate agent in Annapolis will claim to truly understand the market, but be wary, and be sure to ask your agent lots of questions. If things don't add up, contact me at 410-647-8000 ext. 817 or e-mail me at , and I'll be happy to answer any questions you may have. My market knowledge will keep you a step ahead through the entire deal.

Step 5 – Find the house of your dreams
I'm confident we'll find the home of your dreams in the Annapolis area. When that happens, I'll thoroughly create your home purchase offer. The offer will be tailored keeping your needs in mind and the home, including several contingencies. A few examples are obtaining financing, carrying out the inspection, and a clean title.

Upon sending in your purchase offer, you'll probably need to present "earnest money." This is a cash deposit submitted to a seller to secure the offer to purchase the property, and it's often applied to the closing costs. If your offer is accepted, we should close on the property within 30 to 60 days after. This allows ample time for your mortgage financing.

Step 6 – Negotiate the deal
Most contracts don't close on the beginning offer, and it's pretty common to receive a counter offer. But don't let it discourage you. We'll discuss whether or not to accept the counter offer, propose our own counter offer, or refuse the seller's offer and move on.

Market conditions will play a vital role in how aggressively we negotiate the deal. We'll also work within your budget. And when it's all said and done, we'll formulate a deal that is best for you.

Step 7 – Get a loan
Once we sign the final contract, you'll start working with your lender to close the loan. If you're pre-qualified, it shouldn't take very long at all. But you need to keep in close contact with your mortgage lender. And I'll sort out all the property information your lender will need to close the loan.

Step 8 – Close the deal
Your lender will send 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 taking your application. The estimate is based on the loan amount, and RESPA requirements order that it has to involve all closing costs and be within a precise range of accuracy. I'll study the estimate and let you know if everything looks okay.

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

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