Are you contemplating buying your new home in Rockville?

	When you're ready to get started, just contact me here or send e-mail to mruiz@mris.com. I'm happy to answer questions you have regarding this information.

Step 1 – Prepare to buy a home
There are several things you'll want to consider before starting your home search. You'll want to assemble a list of features you want to have, plan for what neighborhoods and school districts you want to live in, and start planning your budget. A good principle to adhere to is that your mortgage payment should be 30 percent of your net monthly income.

Step 2 – Talk to a real estate agent
This is where I come in. We can set up a time to meet so we can talk about your real estate needs and get an idea of your future plans. We'll talk about everything from neighborhoods, schools in the Rockville area, the mortgage industry, to any other economic factors that could potentially affect your buying decision today or in the future.

I'll also help you get started on your loan. There are some great mortgage professionals in Rockville, and I partner with a lot of them, so you're in great hands. They'll 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 we meet for the first time, I'll begin looking for available houses on the market that are great for you. I'll preview most of the houses and reject the duds, and then we'll schedule appointments to view the houses whenever it's most convenient for you.

When we view the homes, I'll show you the positive features, as well as negative ones. And I'll ask you about things you like and don't like. Usually, buyers change their list of must-haves as we view houses and some things become far more substantial than others. If that happens, I'll search all the listings again and trim it down to the home you've been waiting for.

Step 4 – Get a grasp of the housing market
An agent's understanding of the Rockville housing market is a crucial factor in your house search. And I can assure you I'm conscious of all the schools and neighborhoods, and I can communicate what areas are "hot" and require prompt action and others that are "cold" and allow for careful consideration.

As we tour homes, I'll let you know if the asking price has room for negotiation or if I believe the house is "priced to sell." When working with an agent, be on guard and make sure you ask lots of questions. Any REALTOR^® will claim to truly know the housing market. If it doesn't seem like they know everything, just call me at 301-933-0058 or e-mail me at mruiz@mris.com, and I'd be happy to answer any questions you have. My knowledge of the market will keep you a step ahead throughout the entire process.

Step 5 – Find the house of your dreams
I'm positive we'll find the house of your dreams in Rockville. When that happens, I'll thoroughly create your purchase offer. The offer will be tailored to suit your needs, including several contingencies, such as getting financing, carrying out the home inspection, and a clean title.

When presenting your purchase offer, you'll likely need to submit "earnest money." This is a cash deposit made to a home seller to secure an offer to purchase the property and is often put towards the closing costs. If the seller accepts the offer, we should close on the home about 30 to 60 days after. This allows sufficient time for your mortgage financing.

Step 6 – Negotiate
A lot of deals aren't closed on the beginning offer, and it's very common to receive a counter offer. Don't let it alarm you. We'll consider whether or not to consent to the counter offer, submit our own counter offer, or refuse the seller's offer and move on.

Market circumstances will play a big part in how aggressively we negotiate the contract. We'll also work within your budget. And at the end of the day, we'll compose a deal that is best for you.

Step 7 – Secure financing
Upon finalizing the deal, you'll begin working with your mortgage lender to close the loan. If you're pre-approved, it won't be a long process 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 your closing costs from your mortgage lender within three days of receiving your loan application. The estimate is formed from the loan amount, and RESPA requirements mandate that it has to include all closing costs and be within a tight range of accuracy. I'll examine the estimate and let you know if it all looks all right.

Then we'll close on your house. This will most often take place 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 house. Enjoy it. And if you need anything or have any questions, just contact me at 301-933-0058 or send me an e-mail.