Are you contemplating buying a new home in Cary?
With a little up-front planning, purchasing a home isn't very difficult, but the event intimidates many people.
So they'll understand exactly what to expect, I'll furnish buyers with an overview of the whole deal.
Here are my nine steps to buying a home.
If you have any questions regarding any of this information or if you're prepared to get started, just contact me here or e-mail me at .
Step 1 – Prepare to purchase a home
There are plenty of things you'll want to contemplate prior to starting your home search.
When you begin your search, you'll want to put together a check list of items you need to have, plan for what school districts you'd like to live in, and start working on your budget.
Ensuring your mortgage payment is less than or around 1/3 of your net monthly income is a good rule of thumb to go by.
Step 2 – Speak with a real estate agent
That's where I come in.
I'd like to arrange a time to meet with you and communicate with you about your real estate needs and get an idea of your plans for the future.
We'll discuss neighborhoods, schools in the Cary area, the mortgage and housing industries, and any other economic factors that may affect your buying decision today or in the future.
I can also help you start the loan process.
There are some excellent mortgage professionals in Cary, and I partner with a lot of them, so you can rest assured that you're in great hands.
They'll help you decide which kind of loan is best for you, as well as help you get approved.
Step 3 – Begin your home search
After our initial meeting, I'll begin finding houses on the market that are a good fit for you.
I'll research most of the homes and eliminate the duds, and then we'll set up appointments to view the houses whenever it's most convenient for you.
As we tour the houses, I'll call attention to positive features, as well as bad ones. I'll even ask you to point out what things you like and dislike.
Frequently, buyers change their list of must-haves as we view houses and some items become far more necessary than others.
If that's the situation, I'll look through the listings again and trim it down to the house you've been dreaming about.
Step 4 – Get a grasp of the housing market
My knowledge of the Cary housing market is a leading agent in your home search. I am conscious of all the neighborhoods and schools, and I will alert you to what districts are "hot" and warrant prompt action and the ones that are "cool" and allow for more consideration.
When we tour homes, I'll let you know when the asking price has room for negotiation and also when I trust the home is "priced to sell."
Trust your instincts and be sure to ask your agent a lot of questions, as any real estate agent will claim to truly know the home market.
If things don't add up, just call me at 9199244991 or e-mail me at , and I'd be more than happy to answer any questions you have. My market knowledge will keep you a step ahead throughout the entire process.
Step 5 – Find the house of your dreams
We'll find your dream house in Cary, and 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 several contingencies, such as acquiring financing, carrying out the inspection, and a clear title.
When we turn in your purchase offer, most likely you'll want to present "earnest money." This is a cash deposit made to a home seller to secure an offer to purchase the property and is most often put towards the closing costs. If the seller accepts the offer, we should close on the property within 30 to 60 days afterward. This allows sufficient time for your mortgage financing.
Step 6 – Negotiate
Unfortunately most deals don't close on the beginning offer – it's widely common to receive a counter offer. 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 contract depends on market circumstances.
In addition, we'll work within your financing limits. And at the end of the day, we'll formulate a contract that works well for you.
Step 7 – Secure your loan
Upon completing the deal, you'll begin working with your mortgage lender to close the loan.
If you're already pre-approved, this shouldn't take much time at all. However, you'll want to stay in close contact with your lender.
And I'll care for all the property information your mortgage lender will need to close the loan.
Step 8 – Close the deal
You'll get a Loan Estimate (LE) of closing costs from your lender within three days of accepting your loan application.
This estimate is formed from the loan amount, and RESPA requirements require that it has to contain all closing costs and be within a tight range of accuracy. I'll go over the estimate and let you know if it all looks all right.
Then it's time to close on your home. This will probably happen at a title company or escrow office and is often a smooth and hassle-free affair.
Step 9 – Move in
Congratulations! It's time to move into your new house. Enjoy it. And if you need anything or have any questions, make sure you call me at 9199244991 or e-mail me at .