Are you purchasing your new home in Cary?
Buying a home can be stressful for many people, but with a little planning ahead of time, it's not that complex.
I like to furnish buyers with a road map of the whole deal so they understand exactly what to expect.
Here 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 any questions you have regarding this information.
Step 1 – Get ready to purchase
Prior to starting your home search, there are many things you'll want to contemplate.
You'll want to create a checklist of features you want, plan for what neighborhoods you want to live in, and start planning your budget.
Keeping your mortgage payment around 1/3 of your monthly income is a good rule to go by.
Step 2 – Speak with a real estate agent in Cary
This is where I come in.
We'll plan a time to meet so we can talk about your real estate needs and get an idea of your future plans.
We'll talk about neighborhoods, school districts in the Cary area, the mortgage and housing industries, and any additional economic factors that could potentially affect your buying decision today or in the future.
In addition, I'll help you get started on your loan.
I partner with some of Cary's best mortgage professionals, so you'll be in great hands.
They can help you figure out which type of loan is best for you, as well as help you get qualified.
Step 3 – Start looking for a house
After our initial meeting, I'll start searching for available houses on the market that best suit you.
I'll preview many of the homes and ignore the bad ones, and then we'll book appointments to tour the homes when it's most convenient for you.
When we view the houses, I'll identify good features, as well as negative ones. I'll even ask you what things you like and don't like.
It's widely common for buyers to change their must-have list as we view houses and some items become far more important than others.
If such is the case, I'll look through the listings one more time and trim it down to the house you've been dreaming about.
Step 4 – Comprehend the market
My awareness of the Cary home market is an imperative component in your home search. I am acquainted with all the neighborhoods and schools, and I'll let you know some neighborhoods are "hot" and call for prompt action and the ones that are "cool" and allow for thoughtful consideration.
As we view houses, I'll be sure to tell you when the asking price has room for negotiation and also when I think the home is "priced to sell."
Trust your instincts and be sure to ask a lot of questions, as any REALTOR will tell you they truly understand the home market.
If it seems like they don't know everything, contact me at (919) 924-4991 or e-mail me at , and I'll be more than happy to answer any questions you might have. My knowledge of the market will help you stay a step ahead throughout the entire process.
Step 5 – Find the house of your dreams
I'm sure we'll find your dream house in the Cary area. When we do, I'll meticulously develop your purchase offer. The offer will be tailored exactly to your needs and the home, including many contingencies. A few examples are obtaining financing, completing the inspection, and a clear title.
When turning in your purchase offer, most likely you'll need to present "earnest money." This is a cash deposit made to a home seller to secure an offer to buy the property. The amount is often applied to the cost of closing. If the offer is accepted, we should close on the property within 30 to 60 days after. This allows necessary time for your mortgage financing.
Step 6 – Negotiate the deal
A lot of contracts aren't closed on the beginning offer. It's pretty common to receive a counter offer. But don't let it discourage you. We'll talk about whether or not to consent to the counter offer, submit our own counter offer, or decline the seller's offer and go on.
How aggressively we negotiate the deal depends on the state of the market.
We'll also work within your financing budget. And when it's all said and done, we'll compose a deal that's best for you.
Step 7 – Get a loan
After we sign the final sales contract, you'll start working with your lender to close the loan.
It shouldn't take much time at all if you're pre-qualified, but you need to stay in close contact with your mortgage lender.
And I'll take care of all the property information your lender will need to close the loan.
Step 8 – Close the deal
You'll get a Loan Estimate (LE) of closing costs from your mortgage lender within three days of taking your loan application.
This estimate depends on the loan amount, and RESPA requirements require that it has to contain all closing costs and fall within a tight range of accuracy. I'll review the estimate and let you know if it all looks all right.
Then it's time to close on your home. This will likely happen at a title company or escrow office and should be a smooth and pleasant affair.
Step 9 – Move in
Congratulations! Now you can move into your new home. Enjoy it. And if you need anything or have any questions, be sure to contact me at (919) 924-4991 or e-mail me at .