Purchasing a new home in Cary with RE/MAX Performance
Purchasing a home is intimidating for many people. However, with a little planning ahead of time, it isn't that difficult.
So they know exactly what to expect, I like to supply buyers with a road map of the whole deal.
Below are my nine steps to buying a home.
When you're ready to get started, just contact me here or e-mail me at . I'm happy to address questions you have about this information.
Step 1 – Get ready to buy a home
Before you start looking for a home, there are several things you need to take into account.
When you start your search, you'll probably want to put together a checklist of features you need to have, get a feel for what neighborhoods and school districts you'd like to live in, and begin working on your budget.
A good rule to follow is that your mortgage payment should be no more than 1/3 of your net monthly income.
Step 2 – Communicate with a real estate agent in Cary
This is where I can help.
I'd like to schedule a time to get together with you and communicate with you regarding your real estate needs and get an idea of your plans for the future.
We'll talk about everything from neighborhoods, schools in the Cary area, the mortgage and housing industries, to any other economic factors that could affect your purchase today or in the future.
I'll also help you facilitate the loan process.
There are some excellent mortgage professionals in Cary, and I partner with a lot of them, so you'll be in great hands.
They'll assist you with choosing which kind of loan is best for you and help you get qualified.
Step 3 – Begin looking for a house
After our first meeting, I'll start looking for available homes on the market that are good for you.
I'll research most of the houses and exclude the duds, and then we'll book appointments to view the houses whenever it's most convenient for you.
As we tour the houses, I'll identify positive features and bad ones. I'll even ask you to talk about things you like and dislike.
It's pretty common for buyers to change their wish list as we view houses and some things become more crucial than others.
If such is the case, I'll look through all the listings again and narrow it down to the house you've been wishing for.
Step 4 – Comprehend the market
My knowledge of the Cary market is an imperative component in your house search. I'm acquainted with all the neighborhoods and schools, and I can let you know certain neighborhoods are "hot" and warrant immediate action and some that are "cold" and allow for thoughtful examination.
As we view houses, I'll be sure to tell you if the seller's list price has room for negotiation or if I believe the home is "priced to sell."
Every real estate agent will convince you they truly know the market, but be wary, and be sure to ask your agent lots of questions.
If things don't add up, just call me at (919) 924-4991 or e-mail me at , and I'll be glad to answer any questions you might have. My knowledge of the market will help you stay a step above the rest throughout the entire process.
Step 5 – Find the house you've been waiting for
We'll find the home of your dreams in the Cary area, and when that happens, I'll meticulously create your purchase offer. The offer will be tailored keeping your needs in mind and the home, including a lot of contingencies. A few examples are obtaining financing, completing the inspection, and a clear title.
When submitting your offer, most likely you'll want to submit "earnest money." This is a cash deposit submitted to the seller to secure an offer to purchase the property and is most often applied to the cost of closing. If the offer is accepted, we should close on the home within 30 to 60 days after. This allows necessary time for your mortgage financing.
Step 6 – Negotiate the deal
Most contracts aren't closed on the initial offer, and it's very common to receive a counter offer. Don't let this intimidate you. We'll consider whether or not to consent to the counter offer, propose our own counter offer, or refuse the seller's offer and move on.
The state of the market will play a big part in how aggressively we negotiate the contract.
In addition, we'll work within your financing budget. And at the end of the day, we'll formulate a deal that is best for you.
Step 7 – Get your loan
Once we sign the final deal, you'll begin working with your mortgage lender to close the loan.
This shouldn't take long at all if you've been pre-qualified, but you should to keep in close contact with your lender.
And I'll take care of all the property information your lender needs to close the loan.
Step 8 – Close the deal
You'll get a Loan Estimate (LE) of your closing costs from your lender within three days of getting your application.
This estimate is based on the loan amount. RESPA requirements dictate that it has to involve all closing costs and fall within a tight range of accuracy, and I'll study the estimate and let you know if it all looks adequate.
Then it's time to close on your home. This will most likely occur at a title company or escrow office and will likely be a smooth and calm affair.
Step 9 – Move in
Congratulations! Now you can move into your new home. Enjoy it. And if you have any questions, just contact me at (919) 924-4991 or e-mail me at .