Looking to purchase your home? The Peg Delp Team can help.

Buying a home is a stressful event for most people, but with a bit of up-front planning, it isn't all that complicated. I like to supply buyers with a road map of the entire deal so they understand exactly what they can expect. Here are my nine steps to buying a home.

Step 1 – Get ready to buy a home
Prior to starting your home search, there are plenty of things you need to do. You'll want to make an index of must-haves, get a plan of what neighborhoods you'd like to live in, and start planning around your budget. Ensuring your mortgage payment is less than 1/3 of your monthly income is a good rule of thumb to adhere to.

Step 2 – Contact a real estate agent
That's where I come in. I'd like to schedule a time to meet with you and talk about why you want to buy a home and get an idea of your upcoming plans. We'll talk about neighborhoods, school districts in the Delray Beach area, the mortgage industry, and any additional economic factors that could potentially affect your purchase today or in the future.

In addition, I'll help you get started on your loan. The Peg Delp Team partners with some of the best mortgage professionals in Delray Beach, so you'll be in great hands. They'll assist you with determining which type of loan is best for you and help you get approved.

Step 3 – Start your search
After we meet, I'll start looking for houses on the market that are a great fit for you. I'll preview most of the houses and remove the duds, and then we'll schedule appointments to tour the houses whenever it's most convenient for you.

When we view homes, I'll call attention to good features, as well as bad ones. I'll also ask you to tell us about things you like and don't like. It's pretty common for buyers to amend their list of must-haves as we view houses and some features become more essential than others. If that happens, I'll search all the listings once more and trim it down to the home you've been waiting for.

Step 4 – Get a grasp of the market
Your agent's awareness of the Delray Beach market is a crucial element in your home search. And I can assure you I'm informed of all the neighborhoods and school districts, and I will alert you to some areas are "hot" and call for immediate action and some that are "cold" and allow for thoughtful consideration.

As we tour houses, I'll let you know if the seller's asking price has room for negotiation or if I believe the home is "priced to sell." When working with an agent, be mindful and be sure to ask a lot of questions, as any REALTOR^® will claim to truly understand the home market. If things don't add up, contact me at 561-278-2628 or e-mail me at pegdelp@aol.com, and I'd be glad to answer your questions. My market knowledge will keep you a step above the rest throughout the entire deal.

Step 5 – Find the house of your dreams
We'll find the house of your dreams in the Delray Beach area, and when we do, I'll meticulously create your real estate purchase offer. The offer will be written exactly to your needs. Whenever necessary, I never forget to make contracts contingent upon items like acquiring financing and the results of the home inspection.

When we send in your offer, you'll want to present "earnest money." This is a cash deposit made to the home seller to secure the offer to purchase the property. The amount is usually applied to the cost of closing. If the seller accepts the offer, we should close on the property within 30 to 60 days afterward. This allows sufficient time for your mortgage financing.

Step 6 – Negotiate the deal
A lot of contracts don't close on the beginning offer, and it's widely common to receive a counter offer. But don't let this discourage you. We'll talk about whether or not to accept the counter offer, submit our own counter offer, or decline the seller's offer and move on.

The state of the market determines how aggressively we negotiate the contract. In addition, we'll work within your budget. And when it's all said and done, we'll assemble a contract that is best for you.

Step 7 – Obtain a loan
Upon finalizing the contract, you'll start working with your mortgage lender to close the loan. This shouldn't take very long at all if you're pre-approved, but you'll want to stay in close contact with your lender. And I'll deal with all the property information your lender will need to close the loan.

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

Then we'll close on your home. This will likely happen at a title company or escrow office and should be a smooth and peaceful occurrence.

Step 9 – Move in
Success! It's time to move into your new house. Enjoy it. And if you have any questions, be sure to contact me at 561-436-5560 or send me an e-mail.

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M. Peg Delp Realtor, CRS., GRI., CHMS, CPMS, CDPE, Associate Broker, Realtor®

700 East Atlantic Ave. Delray Beach, FL 33431

Office: 561.436.5560