Are you purchasing a new home in Cary? RE/MAX One Hundred can help.
Purchasing a home is intimidating for many people, but with a bit of up-front planning, it's not that confusing.
I like to supply buyers with an overview of the whole deal so they know exactly what they can expect.
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 glad to answer any questions you have about this information.
Step 1 – Get ready to buy a home
There are a lot of things you need to consider before you start searching for a home.
When you begin your search, you'll want to put together a checklist of must-haves, get a feel for what neighborhoods and school districts you'd like to live in, and start planning your budget.
A good guideline to adhere to is that your mortgage payment should be less than 30 percent of your monthly income.
Step 2 – Get in touch with a real estate agent in Cary
That's where I come in.
I'd be happy to arrange a time to get together with you and communicate with you about why you want to buy a home and get an idea of your plans for the future.
We'll talk about the mortgage industry, 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 assist you with getting started on your loan.
I work with some of the best mortgage professionals in Cary, so you'll be in great hands.
They will help you decide which kind of loan is best for you, as well as help you get approved.
Step 3 – Start your search
After our first meeting, I'll begin searching for homes on the market that meet your needs.
I'll get a sneak peek of most of the houses and eliminate the duds, and then we'll book appointments to tour the homes at a time that's convenient for you.
As we tour the houses, I'll call attention to good features, as well as negative ones. I'll also ask you what things you like and don't like.
It's widely common for buyers to change their wish list as we tour homes and some items become more necessary than others.
If that happens, I'll look through all the listings another time and trim it down to the house you've been waiting for.
Step 4 – Comprehend the housing market
My awareness of the Cary housing market is a fundamental element in your house search. I am familiar with all the school districts and neighborhoods, and I can communicate which neighborhoods are "hot" and warrant prompt action and the ones that are "cold" and allow for more consideration.
When we view homes, 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."
When working with an agent, be mindful and make sure you ask plenty of questions. Any real estate agent will tell you they understand the housing market.
If it seems like they don't know everything, just call me at 9199244991 or e-mail me at , and I'd be glad to answer any questions you may have. My market expertise will keep you a step above the rest throughout the entire deal.
Step 5 – Find the house you've been waiting for
I know we'll find your dream home in the Cary area. When we do, I'll meticulously create your home purchase offer. The offer will be tailored keeping your needs in mind and the home, including some contingencies. A few examples are acquiring financing, completing the home inspection, and a clear title.
Upon sending in your purchase offer, you'll likely need to submit "earnest money." This is a cash deposit given to a seller to secure the offer to buy the property and is typically applied to the cost of closing. If the seller accepts your offer, we should close within 30 to 60 days after. This allows ample time for your mortgage financing.
Step 6 – Negotiate the deal
Unfortunately most deals don't close on the first offer, and it's widely common to receive a counter offer. Don't let it intimidate you. We'll figure out whether or not to accept the counter offer, propose our own counter offer, or refuse the seller's offer and go on.
Market circumstances will play a large role in how aggressively we negotiate the deal.
We'll also work within your financing constraints. And at the end of the day, we'll put together a deal that works well for you.
Step 7 – Get a loan
After we sign the final deal, you'll begin working with your mortgage lender to close the loan.
If you're already pre-approved, it won't take much time at all, but you need to stay in close contact with your mortgage lender.
And I'll deal with all the property information your lender will need to close the loan.
Step 8 – Close the deal
Your lender will give you a Loan Estimate (LE) outlining your closing costs within three days of receiving your application. You'll get a Loan Estimate (LE) of your closing costs from your mortgage lender within three days of accepting your loan application.
This estimate depends on the loan amount, and RESPA requirements order that it has to involve all closing costs and be within a strict range of accuracy. I'll go over the estimate and let you know if it all looks okay.
Then we'll close on your house. This should occur at a title company or escrow office and is often a smooth and comfortable occurrence.
Step 9 – Move in
Congratulations! Now you can move into your new home. Enjoy it. And if you have any questions, simply contact me at 9199244991 or e-mail me at .