For most people, purchasing a home is a stressful event. But with a little up-front planning, it's not too complicated. So you know exactly what to expect, I like to provide my buyers with a road map of the whole deal. Here are my nine steps to buying a home.
||If you have questions about any of this information or if you're ready to get started, just contact me here or e-mail me at email@example.com.
Step 1 – Get ready to buy
Prior to starting your home search, there are a lot of things you'll want to contemplate. You'll most likely want to put together a list of must-haves, get a feel for what school districts and neighborhoods you'd like to live in, and begin planning your budget. Ensuring your mortgage payment is less than or close to a third of your net monthly income is a good principle to adhere to.
Step 2 – Talk to a real estate agent
This is where I come in. We can schedule 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, schools in the Hickory area, the mortgage industry, and any additional economic factors that could potentially affect your buying decision today or in the future.
In addition, I'll help you start the loan process. I work with some of Hickory's finest mortgage professionals, so you're in great hands. They'll help you determine which type of loan is best for you, as well as help you get approved.
Step 3 – Start your home search
After we meet for the first time, I'll begin finding available houses on the market that are a good fit for you. I'll research most of the homes and throw out the bad ones, and then we'll set up appointments to view the houses at a time that's convenient for you.
When we view houses, I'll call attention to positive features and negative ones. And I'll ask you to tell us about things you like and dislike. Oftentimes, buyers revise their must-have list as we view homes and some features become more necessary than others. If that's the case, I'll look through all the listings one more time and narrow it down to the home you've been wishing for.
Step 4 – Get a feel for the housing market
My understanding of the Hickory home market is an indispensable asset in your house search. I'm informed of all the neighborhoods and schools, and I will let you know which areas are "hot" and demand prompt action and the ones that are "cold" and allow for careful analysis.
When we tour houses, I'll be sure to tell you if the asking price has room for negotiation or if I believe the house is "priced to sell." When working with an agent, trust your instincts and be sure to ask lots of questions, as any real estate agent will tell you they truly understand the home market. If it appears they don't know everything, contact me at (828) 466-5037 or e-mail me at firstname.lastname@example.org, and I'd be more than happy to answer any questions you have. My knowledge of the market will help you stay a step ahead through the entire process.
Step 5 – Find the home you've been waiting for
We'll find your dream home in the Hickory area, and when we do, I'll precisely create your purchase offer. The offer will be tailored with your needs in mind. Whenever necessary, I never forget to make contracts contingent upon items like your ability to secure financing and the results of the home inspection.
When turning in your offer, you'll probably need to present "earnest money." This is a cash deposit made to the seller to secure an offer to purchase the property and is typically applied to the closing costs. If the offer is accepted, we should close on the property about 30 to 60 days afterward. This allows enough time for your mortgage financing.
Step 6 – Negotiate
Most deals aren't closed on the initial offer. It's really common to receive a counter offer. But don't let this discourage you. We'll talk over whether or not to consent to the counter offer, submit our own counter offer, or reject the seller's offer and go on.
Market circumstances will play a role in how aggressively we negotiate the deal. We'll also work within your budget. And when it's all said and done, we'll create a deal that's best for you.
Step 7 – Secure financing
After we sign the final contract, you'll start working with your mortgage lender to close the loan. If you've been pre-approved, this shouldn't take much time at all, but you'll want to stay in close contact with your lender. And I'll take care of all the property information your lender will need to close the loan.
Step 8 – Close the deal
Your mortgage lender will give you a Good Faith Estimate (GFE) detailing closing costs within three days of taking your loan application. You'll get a Good Faith Estimate (GFE) detailing closing costs from your lender within three days of accepting your application. This estimate is formed from the loan amount, and RESPA requirements order that it has to contain all closing costs and be within a narrow range of accuracy. I'll examine the estimate and let you know if everything looks okay.
Then we'll close on your house. This will likely happen at a title company or escrow office and should be a smooth and relaxing occurrence.
Step 9 – Move in
Congratulations! It's time to move into your new home. Enjoy it. And if you need anything or have any questions, simply call me at (828) 466-5037 or send me an e-mail.