Purchasing your home in Cary with RE/MAX One Hundred
Purchasing a home is an intimidating event for most people. However, with some up-front planning, it's not very complicated.
I like to give buyers an outline of the entire deal so they understand exactly what to expect.
Here are my nine steps to buying a home.
Should you have questions regarding this information or if you're prepared to get started, just contact me here or e-mail me at .
Step 1 – Prepare to buy a home
Before you start searching for a home, there are several things you need to take into account.
When you begin your search, you'll want to make an index of must-have features, get a feeling for what school districts and neighborhoods you'd like to live in, and begin planning your budget.
Keeping your mortgage payment around a third of your monthly income is a good guideline to adhere to.
Step 2 – Contact a real estate agent in Cary
This is where RE/MAX One Hundred comes in.
We can set up a time to meet so we can talk about your real estate needs and get an idea of your plans for the future.
We'll talk about neighborhoods, school districts in the Cary area, the mortgage and housing industries, and any other economic factors that may affect your purchase today or in the future.
I'll also assist you with getting started on your loan.
There are some excellent mortgage professionals in Cary, and I partner with a lot of them, so you're in great hands.
They can assist you with figuring out which kind of loan is best for you and help you get approved.
Step 3 – Begin house-hunting
After our initial meeting, I'll begin finding homes on the market that suit your needs.
I'll research most of the houses and exclude the duds, and then we'll book appointments to view the houses whenever it's convenient for you.
When we tour the homes, I'll show you the good features, as well as negative ones. I'll even ask you what things you like and don't like.
For the most part, buyers change their must-have list as we tour homes and some things become far more substantial than others.
If that's the situation, I'll go back through the listings another time and trim it down to the house you've been wishing for.
Step 4 – Get a grasp of the market
My awareness of the Cary housing market is an essential component in your home search. I am mindful of all the school districts and neighborhoods, and I will let you know what neighborhoods are "hot" and call for immediate action and the ones that are "cool" and allow for thoughtful consideration.
When we view homes, I'll let you know when the seller's list price has room for bargaining and also when I know the home is "priced to sell."
When working with an agent, be on guard and be sure to ask lots of questions, as any real estate agent in Cary will convince you they truly understand the housing market.
If it appears they don't know everything, contact me at 9199244991 or e-mail me at , and I'll be more than happy to answer any questions you may have. My market knowledge will help you stay a step above the rest through the entire process.
Step 5 – Find the home you've been waiting for
We'll find the home of your dreams in Cary, and when that happens, I'll carefully develop your purchase offer. The offer will be tailored with your needs in mind and the home, including some contingencies, such as obtaining financing, completing the inspection, and a clean title.
When we turn in your offer, you'll need to present "earnest money." This is a cash deposit given to the seller to secure an offer to purchase the property, and it's most often applied to the cost of closing. If the seller accepts the offer, we should close about 30 to 60 days after. This allows plenty of time for your mortgage financing.
Step 6 – Negotiate
Unfortunately most deals aren't closed on the first offer – it's widely common to receive a counter offer. But don't let it alarm you. We'll discuss whether or not to accept the counter offer, submit our own counter offer, or decline the seller's offer and go on.
Market circumstances determine how aggressively we negotiate the deal.
We'll also work within your financing budget. And at the end of the day, we'll create a deal that's best for you.
Step 7 – Obtain your loan
Once the contract is complete, you'll begin working with your mortgage lender to close the loan.
If you're pre-qualified, it shouldn't take very long at all, but you'll need to stay in close contact with your lender.
And I'll handle 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) outlining your closing costs from your mortgage lender within three days of getting your loan application.
The estimate is formed from the loan amount, and RESPA requirements require that it has to involve 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 permissible.
Then we'll close on your home. This will most often take place at a title company or escrow office and will probably be a smooth and stress-free 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 call me at 9199244991 or e-mail me at .