Patricia Straus Nashville Homes
Nashville Real Estate Leader
Buying a home, your dream home, is one of the biggest decisions you will make in your lifetime. That’s why it’s essential to choose a trusted real estate agent who can walk you through this journey to success.
Patricia Straus becomes your advocate, your real estate expert. She works with families to find the right home, in the right neighborhood, in the booming Nashville market.
You will need to determine how much house you can afford. You can start with an online calculator. For a more accurate figure, ask to be pre-approved by a lender, who will look at your income, debt and credit to determine the kind of loan that’s within your affordability. The rule of thumb is to aim for a home that costs about two-and-a-half times your gross annual salary.
You’ll need to come up with cash for your down payment and closing costs. Most lenders like to see 20% of the home’s price as a down payment. If you can put down more than that, the lender may be willing to approve a larger loan or give better terms and conditions. If you have less, Patricia has vetted the best lenders in town and will almost always find a way to accommodate you.
Contact Patricia Straus, she becomes your real estate advocate. As an experienced luxury real estate agent, Patricia can help you search for your new home in the city or neighborhood you want to live in. Look for signs of economic vitality: a mixture of old and new homes and areas that maintain property value in up and down markets. Make a list of your “must haves” and your wish list.
Once you find the house you want, move quickly to make your bid. As an experienced buyer’s broker, Patricia Straus can provide advice on making an initial offer.
Patricia Straus can review your legal documents to make sure the deal is contingent upon: you’re obtaining a mortgage, a home inspection that shows no significant defects and a guarantee that you may conduct a walk-through inspection 24 hours before closing. There are often other “conditions of contract” that Patricia will recommend to protect your best interest.
Now call your mortgage broker or lender and move quickly to agree on terms, if you have not already done so. This is when you decide whether to go with the fixed rate or adjustable rate mortgage and whether to pay points. The lender will also make arrangements for an appraiser to appraise your new home and be sure you know the exact measurements (square feet) and that it appraises for at least the purchase price on the contract.
Patricia Straus can arrange for a qualified and proven local home inspector. An inspection costs $350 on average, and up to $500-750 for houses over 5000 square feet that take four hours or more to inspect.
Three days before the actual closing, you will receive a final HUD Settlement Statement from your lender that lists all the charges you can expect to pay at closing. Patricia Straus will walk you through this important process, step-by-step, line-by-line.
You own a new home!