Buying Your Dream Home
Alamogordo Realty wants to help
The process of searching for and buying your dream home should be a fun and exciting one. But every important decision has its difficulties. That is where Alamogordo Realty comes in. We want to make your move as stress free as we can and provide you with all the adequate information and assistance needed for a smooth transition.
Learn a little more about your new community:
Before you begin to look for a home:
Be a smart shopper. Learn the financing basics. Know how to shop for a home loan that's right for you. There are many ways to obtain a loan; online, in person, local banks and mortgage brokers. Feel free to shop around to get the best deal and rate.
Get a pre-approval letter. This is different than just a pre-qualification from a mortgage calculator. A lender will sit down with you and really go over all your finances to find out how much you really can afford calculating all your debts and income.
Keep your debt load to a minimum. Don't make major purchases or incur any additional debt until after your purchase. Pay down credit cards and don't apply for new ones. Remember, financial institutions evaluate your financial situation on your gross monthly income. Your total monthly house costs should not exceed 28 percent of your gross monthly income.
Find an agent you trust. Alamogordo Realty agents are dedicated to their clients just as much if you are buying a small starter home in Alamogordo or large company investment. We take the time to listen to your needs and don't extend them far beyond where you are comfortable. We will help you through every step of the process and explain in detail issues you may not understand before signing anything.
Before you sign:
Submit a strong competitive offer. We are committed to putting together a secure offer that sellers can be confident of. We make sure you know everything you are signing and feel confident that your offer is either the best option, or that you are leaving room for negotiations.
Include a substantial earnest money deposit. Sometimes offers are accepted based on the amount of the deposit. This is usually 1-3% of the purchase price. In this buyer's market however, sometimes the buyer has more say as to what the seller will take. The seller always has the final word but some deals have gone through without a penny of earnest money. This money however does get included in your down payment at closing.
Hire an inspector. A professional building inspector or appraiser will make sure your home is in satisfactory condition. Remember, whether you are planning on asking for repairs or not, this is an excellent way to find out more about your new home.
Quiet time. During the time between inspection approval and closing there may be some time where you don't hear from anyone. This is a time when escrow is completing the closing papers, brokers are finishing up documents and lenders are finalizing your loan documents and locking in rates. This is the time for you to be packing and changing or updating your homeowners insurance to your new residence.
So when the time comes to buy your new property, call on our team at Alamogordo Realty to assist you in your transaction. We will help buy or sell any home, property, or lot in all of Otero county.