Purchasing a home in Cary with RE/MAX Performance
Purchasing a home is an intimidating event for most people, but with a bit of up-front planning, it's not all that complex.
I like to supply buyers with an outline of the whole deal so they know exactly what they can expect.
Below 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 regarding this information.
Step 1 – Prepare to purchase
Before you begin your home search, there are plenty of things you'll want to contemplate.
When you start your search, you'll probably want to make an index of items you want, get a feel for what neighborhoods and school districts you want to live in, and begin planning your budget.
Ensuring your mortgage payment is no more than 1/3 of your monthly income is a good guideline to follow.
Step 2 – Connect with a real estate agent
That's where I come in.
I'd love to book a time to meet with you and speak with you regarding why you want to buy a home and get an idea of your plans for the future.
We'll talk about everything from neighborhoods, school districts in the Cary area, the mortgage industry, to any other economic factors that may potentially affect your purchase today or in the future.
In addition, I'll help you facilitate the loan process.
There are some excellent mortgage professionals in Cary, and I partner with a lot of them, so you're in great hands.
They'll assist you with figuring out which kind of loan is best for you and help you get approved.
Step 3 – Begin looking for a house
After our initial meeting, I'll start searching for available homes on the market that are good for you.
I'll research most of the houses and throw out the duds, and then we'll set up appointments to tour the houses when it's convenient for you.
When we view houses, I'll show you the positive features and negative ones. I'll also ask you about things you like and don't like.
Usually, buyers revise their list of must-haves as we tour houses and some features become far more necessary than others.
If that happens, I'll look through the listings once more and narrow it down to the home you've been waiting for.
Step 4 – Understand the housing market
My awareness of the Cary market is a necessary component in your house search. I'm familiar with all the school districts and neighborhoods, and I can let you know certain neighborhoods are "hot" and warrant immediate action and others that are "cool" and allow for thoughtful consideration.
When we tour houses, I'll let you know when the asking price has room for bargaining and when I know the home is "priced to sell."
When working with an agent, be careful and make sure you ask a lot of questions, as any REALTOR in Cary will claim to truly understand the home market.
If things don't add up, call me at (919) 924-4991 or e-mail me at , and I'd be glad to answer any questions you may have. My market knowledge will keep you a step above the rest through the entire process.
Step 5 – Find the home of your dreams
We'll find your dream house in Cary, and when that happens, I'll thoroughly develop your purchase offer. The offer will be tailored exactly to your needs and the home, including several contingencies, such as getting financing, carrying out the home inspection, and a clean title.
When sending in your offer, you'll probably want to present "earnest money." This is a cash deposit submitted to the home seller to secure the offer to buy the property and is often put towards the closing costs. If the seller accepts your offer, we should close on the home about 30 to 60 days after. This allows ample time for your mortgage financing.
Step 6 – Negotiate the deal
Unfortunately most deals aren't closed on the initial offer. It's extremely common to receive a counter offer. Don't let it intimidate you. We'll figure out whether or not to take the counter offer, propose our own counter offer, or refuse the seller's offer and go on.
How aggressively we negotiate the deal depends on market conditions.
We'll also work within your financing limits. And at the end of the day, we'll assemble a contract that works well for you.
Step 7 – Get a loan
After the deal is signed, you'll begin working with your lender to close the loan.
It won't be a long process at all if you're already pre-qualified, but you'll want to keep in close contact with your lender.
And I'll look after all the property information your mortgage lender needs to close the loan.
Step 8 – Close the deal
You'll get a Loan Estimate (LE) outlining closing costs from your mortgage lender within three days of accepting your application.
The estimate is based on the loan amount. RESPA requirements require that it has to include all closing costs and fall within a tight range of accuracy, and I'll review the estimate and let you know if it all looks adequate.
Then we'll close on your house. This will likely occur at a title company or escrow office and will most likely be a smooth and stress-free occasion.
Step 9 – Move in
Congratulations! Now you can move into your new home. Enjoy it. And if you need anything or have any questions, simply contact me at (919) 924-4991 or e-mail me at .