Are you contemplating buying a new home?

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Step 1 – Prepare to purchase
Prior to beginning your home search, there are a lot of things you'll want to contemplate. When you start your search, you'll probably want to create a check list of items you need to have, get a feeling for what neighborhoods you'd like to live in, and begin planning your budget. A good rule to go by is that your mortgage payment should be no more than a third of your monthly income.

Step 2 – Get with a real estate agent in Franklin
This is where Nina Kestner McIver can help. We can arrange a time to meet so we can talk about why you want to buy a home and get an idea of your future plans. We'll discuss the mortgage industry, other economic factors that could potentially affect your purchase today or in the future, as well as neighborhoods and school districts in the Franklin area.

I'll also help you begin the loan process. I work with some of the finest mortgage professionals in Franklin, so you can rest assured that you're in great hands. They'll help you decide which type of loan is best for you, as well as help you get qualified.

Step 3 – Start your search
After our initial meeting, I'll start searching for houses on the market that are good for you. I'll research most of the homes and exclude the bad ones, and then we'll set up appointments to view the homes when it's most convenient for you.

When we view houses, I'll call attention to good features and negative ones. I'll even ask you about things you like and dislike. It's widely common for buyers to change their list of must-haves as we view homes and some features become far more necessary than others. If that happens, I'll go back through all the listings another time and trim it down to the house you've been dreaming about.

Step 4 – Get a grasp of the market
An agent's awareness of the Franklin housing market is an imperative component in your home search. And I can assure you I'm mindful of all the schools and neighborhoods, and I can communicate what areas are "hot" and require immediate action and the ones that are "cold" and allow for more examination.

When we view homes, I'll let you know when the asking price has room for bargaining and also when I believe the home is "priced to sell." When working with an agent, be on guard and make sure you ask plenty of questions, as every real estate agent will convince you they comprehend the housing market. If it seems like they don't know everything, contact me at 615-465-3728 or e-mail me at info@thekestnerteam.com, and I'll be happy to answer any questions you have. My understanding of the market will keep you a step ahead through the entire process.

Step 5 – Find the house you've been waiting for
I'm positive we'll find your dream house in the Franklin area. When we do, I'll meticulously create your purchase offer. The offer will be tailored with your needs in mind, including many contingencies, such as obtaining financing, finishing the inspection, and a clean title.

When turning in your purchase offer, you'll likely want to submit "earnest money." This is a cash deposit made to the seller to secure the offer to buy the property, and it's typically applied to the cost of closing. If your offer is accepted, we should close about 30 to 60 days after. This allows necessary time for your mortgage financing.

Step 6 – Negotiate the deal
A lot of contracts aren't closed on the initial offer – it's extremely common to receive a counter offer. 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 go on.

Market circumstances will play a vital role in how aggressively we negotiate the deal. We'll also work within your financing constraints. And at the end of the day, we'll create a contract that is best for you.

Step 7 – Obtain financing
Once we sign the final deal, you'll start working with your lender to close the loan. If you're already pre-qualified, this shouldn't take long at all. However, you need to stay in close contact with your mortgage lender. And I'll sort out all the property information your mortgage lender needs to close the loan.

Step 8 – Close the deal
You'll get a Good Faith Estimate (GFE) outlining closing costs from your lender within three days of accepting your application. This estimate is formed from the loan amount, and RESPA requirements dictate that it has to contain all closing costs and fall within a tight range of accuracy. I'll review the estimate and let you know if it all looks good.

Then we'll close on your home. This should take place at a title company or escrow office and is often a smooth and calm occurrence.

Step 9 – Move in
You made it! 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 615-465-3728 or send me an e-mail.