Buying or selling a home?
Purchasing a home is stressful for most people. However, with a little planning ahead of time, it's not all that confusing.
I like to provide buyers with an overview of the whole deal so they'll know exactly what to expect.
Below are my nine steps to buying a home.
If you have questions regarding any of this information or if you're ready to get started, you can contact me here or e-mail me at .
Step 1 – Get ready to purchase a home
Before you begin your home search, there are a lot of things you should take into account.
When you begin your search, you'll want to put together a list of items you need to have, get a feel for what neighborhoods you'd like to live in, and start planning your budget.
A good principle to go by is that your mortgage payment should be close to 1/3 of your monthly income.
Step 2 – Talk to a real estate agent in Cary
This is where RE/MAX Performance comes in.
We can plan a time to meet so we can talk about why you want to buy a home and get an idea of your upcoming plans.
We'll talk about everything from neighborhoods, school districts in the Cary area, the mortgage and housing industries, to any other economic factors that may affect your buying decision today or in the future.
I can also help you facilitate the loan process.
I partner with some of Cary's finest mortgage professionals, so you'll be in great hands.
They can help you determine which kind of loan is best for you, as well as help you get qualified.
Step 3 – Begin looking
Following our initial meeting, I'll begin finding homes on the market that are a good fit for you.
I'll preview most of the houses and throw out the bad ones, and then we'll book appointments to view the homes whenever it's convenient for you.
When we view the homes, I'll point out good features, as well as negative ones. And I'll ask you what things you like and dislike.
It's common for buyers to amend their wish list as we tour houses and some features become far more substantial than others.
If such is the case, I'll look through the listings once again and narrow it down to the house you've been waiting for.
Step 4 – Get a grasp of the market
My awareness of the Cary home market is a leading aspect in your house search. I am acquainted with all the neighborhoods and school districts, and I can communicate certain neighborhoods are "hot" and warrant immediate action and others that are "cold" and allow for more consideration.
When we view homes, I'll be sure to tell you when the list price has room for bargaining and also when I trust the house is "priced to sell."
Trust your instincts and make sure you ask plenty of questions, as any REALTOR in Cary will tell you they comprehend the market.
If it appears they don't know everything, just call me at (919) 924-4991 or e-mail me at , and I'll be happy to answer any questions you may have. My market expertise will help you stay a step ahead through the entire process.
Step 5 – Find the house you've been waiting for
I'm certain we'll find your dream home in the Cary area. When we do, I'll thoroughly develop your home purchase offer. The offer will be made to suit your needs and the home. We'll include some contingencies, such as acquiring financing, completing the inspection, and a clear title.
Upon submitting your offer, you'll need to present "earnest money." This is a cash deposit given to a home seller to secure an offer to purchase the property and is usually put towards the cost of closing. If your offer is accepted, we should close on the property within 30 to 60 days afterward. This allows necessary time for your mortgage financing.
Step 6 – Negotiate the deal
Most deals aren't closed on the beginning offer. It's really common to receive a counter offer. But don't let it discourage you. We'll talk over whether or not to consent to the counter offer, propose our own counter offer, or decline the seller's offer and go on.
How aggressively we negotiate the contract depends on the state of the market.
We'll also work within your budget. And at the end of the day, we'll compose a contract that's best for you.
Step 7 – Get financing
Once we sign the final deal, you'll start working with your lender to close the loan.
It shouldn't take long at all if you're already pre-qualified, but you'll want to keep in close contact with your mortgage lender.
And I'll manage all the property information your lender will need to close the loan.
Step 8 – Close the deal
Your lender will supply you with a Loan Estimate (LE) outlining closing costs within three days of taking your loan application. You'll get a Loan Estimate (LE) detailing your closing costs from your mortgage lender within three days of accepting your application.
This estimate rests on the loan amount, and RESPA requirements dictate that it has to include all closing costs and fall within a strict range of accuracy. I'll review the estimate and let you know if it all looks permissible.
Then we'll close on your home. This will probably occur at a title company or escrow office and is often a smooth and comfortable event.
Step 9 – Move in
Congratulations! It's time to move into your new home. Enjoy it. And if you have any questions, simply contact me at (919) 924-4991 or e-mail me at .