Buying or selling a home?
Purchasing a home is an intimidating event for most people, but it's not very confusing with a little up-front planning.
So they'll know exactly what to expect, I like to supply buyers with an overview of the entire deal.
Below are my nine steps to buying a home.
When you're ready to get started, simply contact me here or e-mail me at . I'm glad to answer questions you have regarding this information.
Step 1 – Prepare to buy
Before you commence your home search, there are a lot of things you'll want to take into account.
When you begin your search, you'll probably want to create an outline of items you want, plan for what neighborhoods you'd like to live in, and begin planning around your budget.
Keeping your mortgage payment less than 1/3 of your monthly income is a good rule of thumb to go by.
Step 2 – Connect with a real estate agent in Cherryville
That's where I come in.
I'd be happy to arrange a time to meet with you and speak with you regarding your real estate needs and get an idea of your plans for the future.
We'll discuss everything from neighborhoods, schools in the Cherryville area, the mortgage industry, to any other economic factors that might affect your buying decision today or in the future.
I'll also help you facilitate the loan process.
Phillips Realty partners with some of the best mortgage professionals in Cherryville, so you'll be in great hands.
They will help you choose which type of loan is best for you, as well as help you get approved.
Step 3 – Start house-hunting
After our initial meeting, I'll begin searching for houses on the market that meet your needs.
I'll get a sneak peek of many of the houses and reject the duds, and then we'll set up appointments to view the houses whenever it's most convenient for you.
As we view the houses, I'll call attention to positive features and bad ones. I'll even ask you about things you like and don't like.
It's widely common for buyers to amend their list of must-haves as we tour homes and some items become more necessary than others.
If that happens, I'll look through the listings one more time and narrow it down to the home of your dreams.
Step 4 – Know the housing market
My understanding of the Cherryville housing market is an imperative factor in your home search. I'm acquainted with all the neighborhoods and school districts, and I can alert you to certain neighborhoods are "hot" and require prompt action and others that are "cold" and allow for more analysis.
When we tour houses, I'll make sure to communicate when the list price has room for negotiation and also when I trust the house is "priced to sell."
When working with an agent, be mindful and make sure you ask a lot of questions. Every real estate agent in Cherryville will tell you they comprehend the market.
If it appears they don't know everything, contact me at 704-802-4560 or e-mail me at , and I'd be glad to answer any questions you might have. My knowledge of the market will keep you a step ahead through the entire process.
Step 5 – Find your dream house
We'll find the house of your dreams in Cherryville, and when that happens, I'll meticulously create your home purchase offer. The offer will be made to fit your needs and the home. We'll include several contingencies, such as obtaining financing, finishing the home inspection, and a clean title.
When sending in your purchase offer, you'll need to submit "earnest money." This is a cash deposit made to the home seller to secure the offer to purchase the property and is most often applied to the closing costs. If the offer is accepted, we should close within 30 to 60 days after. This allows plenty of time for your mortgage financing.
Step 6 – Negotiate the deal
Most contracts don't close on the first offer. It's extremely common to receive a counter offer. Don't let this discourage you. We'll figure out whether or not to agree to the counter offer, propose our own counter offer, or decline the seller's offer and go on.
Market conditions determine how aggressively we negotiate the deal.
In addition, we'll work within your financing budget. And when it's all said and done, we'll create a contract that is best for you.
Step 7 – Obtain your loan
Upon completing the deal, you'll start working with your lender to close the loan.
If you've been pre-approved, this shouldn't take long at all. But you should to stay in close contact with your mortgage lender.
And I'll care for all the property information your lender will need to close the loan.
Step 8 – Close the deal
Your mortgage lender will send you a Loan Estimate (LE) of your closing costs within three days of getting your loan application. You'll get a Loan Estimate (LE) detailing your closing costs from your lender within three days of accepting your loan application.
The estimate depends on the loan amount. RESPA requirements dictate that it has to involve all closing costs and fall within a narrow range of accuracy, and I'll review the estimate and let you know if it all looks all right.
Then we'll close on your house. This will most likely occur at a title company or escrow office and will most often be a smooth and comfortable occurrence.
Step 9 – Move in
Congratulations! It's time to move into your new house. Enjoy it. And if you have any questions, simply call me at 704-802-4560 or e-mail me at .