Purchasing your new home in Cary
Buying a home is stressful for most people, but with a bit of planning ahead of time, it's not too confusing.
So they'll know exactly what to expect, I like to provide buyers with a road map of the entire deal.
Here are my nine steps to purchasing a home.
When you're ready to get started, simply contact me here or e-mail me at . I'm happy to address questions you have about this information.
Step 1 – Prepare to purchase
There are plenty of things you'll want to do prior to starting your home search.
When you start your search, you'll probably want to create an index of items you want, get a plan of what neighborhoods and school districts you'd like to live in, and begin working on your budget.
A good principle to go by is that your mortgage payment should be 1/3 of your monthly income.
Step 2 – Contact a real estate agent
This is where RE/MAX Performance comes in.
We can book a time to meet so we can talk about your real estate needs and get an idea of your future plans.
We'll discuss the mortgage and housing industries, other economic factors that could potentially affect your buying decision today or in the future, as well as neighborhoods and school districts in the Cary area.
I can also help you start the loan process.
There are some excellent mortgage professionals in Cary, and I work with a lot of them, so you're in great hands.
They will help you figure out which kind of loan is best for you, as well as help you get qualified.
Step 3 – Start house-hunting
After our initial meeting, I'll start looking for available homes on the market that are great for you.
I'll research many of the houses and reject the duds, and then we'll schedule appointments to tour the houses whenever it's convenient for you.
As we tour the homes, I'll identify positive features, as well as bad ones. I'll even ask you to talk about things you like and dislike.
It's widely common for buyers to update their wish list as we view houses and some features become more important than others.
If such is the case, I'll look through all the listings once more and narrow it down to the house you've been wishing for.
Step 4 – Comprehend the housing market
My understanding of the Cary market is an essential element in your home search. I am acquainted with all the neighborhoods and schools, and I can alert you to what neighborhoods are "hot" and warrant immediate action and some that are "cool" and allow for careful consideration.
When we view homes, I'll be sure to tell you when the list price has room for negotiation and also when I trust the home is "priced to sell."
Every real estate agent will convince you they truly understand the housing market, but keep an eye out, and make sure you ask a lot of questions.
If things don't add up, call me at (919) 924-4991 or e-mail me at , and I'll be glad to answer any questions you may have. My market expertise will help you stay a step ahead throughout the entire deal.
Step 5 – Find the house you've been waiting for
We'll find the home of your dreams in Cary, and when we do, I'll precisely develop your home purchase offer. The offer will be tailored keeping your needs in mind and the home, including many contingencies. A few examples are acquiring financing, completing the home inspection, and a clear title.
When presenting your purchase offer, you'll want to present "earnest money." This is a cash deposit given to the home seller to secure the offer to buy the property. The amount is typically put towards the cost of closing. If the offer is accepted by the seller, we should close about 30 to 60 days after. This allows plenty of time for your mortgage financing.
Step 6 – Negotiate the deal
Unfortunately most contracts aren't closed on the beginning offer – it's extremely common to receive a counter offer. But don't let it intimidate you. We'll talk over whether or not to agree to the counter offer, propose our own counter offer, or decline the seller's offer and move on.
How aggressively we negotiate the deal depends on the state of the market.
In addition, we'll work within your budget. And at the end of the day, we'll assemble a contract that's best for you.
Step 7 – Get financing
Upon completing the deal, you'll start working with your mortgage lender to close the loan.
If you're already pre-approved, this shouldn't take long at all, but you'll need to stay in close contact with your mortgage lender.
And I'll handle all the property information your lender needs to close the loan.
Step 8 – Close the deal
Your lender will provide you with a Loan Estimate (LE) of closing costs within three days of getting your loan application. You'll get a Loan Estimate (LE) of your closing costs from your mortgage lender within three days of taking your loan application.
This estimate rests on the loan amount, and RESPA requirements require that it has to involve all closing costs and fall within a close range of accuracy. I'll study the estimate and let you know if it all looks all right.
Then it's time to close on your house. This will likely happen at a title company or escrow office and is often a smooth and hassle-free event.
Step 9 – Move in
Congratulations! It's time to move into your new home. Enjoy it. And if you need anything, just contact me at (919) 924-4991 or e-mail me at .