Purchasing your new home in Oklahoma City with Metro Real Estate

	Should you have any questions about any of this information or if you're prepared to get started, just contact me here or e-mail me at matt@alamode.com.

Step 1 – Get ready to purchase
There are many things you'll want to consider before you search for a home. You'll want to form a check list of features you want, get an idea of what school districts and neighborhoods you'd like to live in, and start planning your budget. A good principle to go by is that your mortgage payment should be less than a third of your net monthly income.

Step 2 – Get with a real estate agent
That's where I can help. We'll book a time to get together so we can talk about your real estate needs and get an idea of your plans for the future. We'll talk about the mortgage industry, other economic factors that may potentially affect your purchase today or in the future, as well as neighborhoods and schools in the Oklahoma City area.

I'll also help you get started on your loan. There are some great mortgage professionals in Oklahoma City, and I work with a lot of them, so you'll be in great hands. They can help you figure out which type of loan is best for you, as well as help you get qualified.

Step 3 – Begin house hunting
After our initial meeting, I'll begin looking for available homes on the market that suit your needs. I'll preview most of the houses and eliminate the bad ones, and then we'll book appointments to tour the homes whenever it's convenient for you.

When we tour homes, I'll call attention to good features, as well as bad ones. I'll even ask you what things you like and don't like. It's common for buyers to change their wish list as we view homes and some features become far more essential than others. If that's the case, I'll search all the listings once more and narrow it down to the house you've been waiting for.

Step 4 – Get a grasp of the housing market
My awareness of the Oklahoma City market is a crucial advantage in your home search. I am informed of all the neighborhoods and schools, and I'll communicate which neighborhoods are "hot" and require immediate action and others that are "cold" and allow for cautiousness.

As we tour homes, I'll make sure to communicate when the seller's list price has room for negotiation and when I trust the house is "priced to sell." When working with an agent, be mindful and make sure you ask lots of questions, as any real estate agent will convince you they understand the market. If it seems like they don't know everything, just call me at (800) 359-6587 or e-mail me at matt@alamode.com, and I'd be glad to answer any questions you might have. My understanding of the market will keep you a step above the rest throughout the entire process.

Step 5 – Find the home you've been waiting for
We'll find the home of your dreams in Oklahoma City, and when we do, I'll thoroughly develop your real estate purchase offer. The offer will be made keeping your needs in mind. Whenever necessary, I never forget to make contracts contingent upon items like acquiring financing and the results of the home inspection.

Upon turning in your purchase offer, you'll want to submit "earnest money." This is a cash deposit given to the seller to secure the offer to buy the property, and it's most often put towards the closing costs. If the seller accepts the offer, we should close about 30 to 60 days after. This allows necessary time for your mortgage financing.

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

The state of the market will play a role 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 deal that is best for you.

Step 7 – Secure financing
Upon finishing the deal, you'll start working with your mortgage lender to close the loan. If you're already pre-qualified, it shouldn't take very long at all, but you need to stay in close contact with your mortgage lender. And I'll deal with all the property information your mortgage lender will need to close the loan.

Step 8 – Close the deal
Your lender will give you a Good Faith Estimate (GFE) outlining your closing costs within three days of receiving your loan application. You'll get a Good Faith Estimate (GFE) of closing costs from your lender within three days of accepting your application. This estimate depends on the loan amount. RESPA requirements dictate that it has to contain all closing costs and be within a tight range of accuracy, and I'll study the estimate and let you know if it all looks adequate.

Then we'll close on your house. This will most often occur at a title company or escrow office and should be a smooth and peaceful occasion.

Step 9 – Move in
You made it! Now you can move into your new house. Enjoy it. And if you need anything or have any questions, just call me at (800) 359-6587 or send me an e-mail.