Are you buying your new home in Annapolis?

Buying a home is a stressful event for most people. However, with some planning ahead of time, it's not all that complicated. I like to provide buyers with an overview of the whole deal so they'll know exactly what they can expect. Below are my nine steps to buying a home. Should you have questions regarding any of this information or if you're prepared to get started, simply contact me here or e-mail me at .

Step 1 – Get ready to buy
Before you begin searching for a home, there are several things you'll want to take into account. When you start your search, you'll probably want to form a checklist of features you want to have, get a feel for what school districts and neighborhoods you want to live in, and begin planning your budget. A good rule of thumb to go by is that your mortgage payment should be close to a third of your net monthly income.

Step 2 – Connect with a real estate agent
This is where I come in. We can schedule a time to get together so we can talk about why you want to buy a home and get an idea of your plans for the future. We'll discuss 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 assist you in getting started on your loan. I partner with some of Annapolis's finest mortgage professionals, so you can rest assured that you're in great hands. They'll assist you in choosing which kind of loan is best for you and help you get approved.

Step 3 – Begin house-hunting
After our initial meeting, I'll begin finding homes on the market that are a great fit for you. I'll preview most of the homes and exclude the duds, and then we'll schedule appointments to tour the homes at a time that's convenient for you.

When we tour the homes, I'll call attention to positive features and bad ones. I'll also ask you what things you like and don't like. It's common for buyers to revise their list of must-haves as we tour houses and some features become more important than others. If such is the case, I'll search the listings one more time and narrow it down to the home you've been dreaming about.

Step 4 – Get a grasp of the housing market
My awareness of the Annapolis home market is an essential factor in your home search. I am familiar with all the school districts and neighborhoods, and I will let you know which neighborhoods are "hot" and demand immediate action and some that are "cold" and allow for careful consideration.

As we view houses, I'll make sure to communicate if the list price has room for bargaining or if I believe the house is "priced to sell." When working with an agent, be on guard and make sure you ask a lot of questions, as every real estate agent in Annapolis will convince you they truly understand the home market. If it seems like they don't know everything, contact me at 410-647-8000 ext. 817 or e-mail me at , and I'll be happy to answer your questions. My understanding of the market will help you stay a step ahead through the entire deal.

Step 5 – Find the home you've been waiting for
I'm sure we'll find your dream house in the Annapolis area. When that happens, I'll meticulously develop your purchase offer. The offer will be made to fit your needs and the home. We'll include many contingencies, such as getting financing, completing the home inspection, and a clean title.

Upon sending in your purchase offer, you'll probably want to submit "earnest money." This is a cash deposit made to the home seller to secure the offer to purchase the property, and it's typically put towards the closing costs. If the offer is accepted, we should close on the home within 30 to 60 days after. This allows necessary time for your mortgage financing.

Step 6 – Negotiate
A lot of deals don't close on the beginning offer – it's pretty common to receive a counter offer. Don't let it discourage you. We'll consider whether or not to take the counter offer, submit our own counter offer, or refuse the seller's offer and move on.

How aggressively we negotiate the contract depends on the state of the market. We'll also work within your financing limits. And at the end of the day, we'll compose a deal that's best for you.

Step 7 – Get your loan
After the contract is signed, you'll begin working with your lender to close the loan. This won't take very long at all if you're pre-qualified, but you should to stay in close contact with your lender. And I'll look after all the property information your lender needs to close the loan.

Step 8 – Close the deal
Your mortgage lender will provide you with a Loan Estimate (LE) of closing costs within three days of receiving your loan application. You'll get a Loan Estimate (LE) detailing your closing costs from your mortgage lender within three days of taking your application. The estimate rests on the loan amount, and RESPA requirements dictate that it has to involve all closing costs and be within a strict range of accuracy. I'll examine the estimate and let you know if it all looks adequate.

Then it's time to close on your house. This will most often happen at a title company or escrow office and will likely be a smooth and relaxing affair.

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