Purchasing a new home in Cornelius?
For many people, buying a home can be a stressful event. But with some up-front planning, it's not all that complex.
I like to supply buyers with an outline of the entire deal so they'll know exactly what they can expect.
Here 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 happy to answer any questions you have regarding this information.
Step 1 – Get ready to buy
Before you start your home search, there are many things you should contemplate.
When you begin your search, you'll probably want to assemble a check list of must-have features, get a feeling for what school districts and neighborhoods you want to live in, and begin working on your budget.
A good principle to adhere to is that your mortgage payment should be close to 1/3 of your monthly income.
Step 2 – Connect with a real estate agent
This is where I come in.
I'd like to set up a time to meet with you and talk about your real estate needs and get an idea of your future plans.
We'll talk about the mortgage industry, other economic factors that could affect your purchase today or in the future, as well as neighborhoods and schools in the Cornelius area.
I'll also help you begin the loan process.
I work with some of Cornelius's finest mortgage professionals, so you're in great hands.
They'll help you figure out which kind of loan is best for you, as well as help you get approved.
Step 3 – Start looking
After our initial meeting, I'll start searching for available homes on the market that meet your needs.
I'll preview most of the houses and remove the bad ones, and then we'll schedule appointments to view the houses whenever it's convenient for you.
As we tour the houses, I'll call attention to good features, as well as negative ones. And I'll ask you what things you like and dislike.
It's widely common for buyers to amend their wish list as we tour homes and some features become far more essential than others.
If such is the case, I'll search all the listings another time and narrow it down to the house of your dreams.
Step 4 – Understand the market
An agent's knowledge of the Cornelius housing market is an essential factor in your house search. And I assure you I'm acquainted with all the neighborhoods and schools, and I can communicate which neighborhoods are "hot" and demand immediate action and some that are "cold" and allow for more examination.
As we tour homes, I'll let you know if the list price has room for bargaining or if I believe the home 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 claim to comprehend the market.
If things don't add up, contact me at (704) 896-2000 or e-mail me at , and I'll be more than happy to answer any questions you may have. My market knowledge will keep you a step above the rest through the entire deal.
Step 5 – Find the home you've been waiting for
We'll find your dream house in the Cornelius area, and when that happens, I'll precisely create your real estate purchase offer. The offer will be made to fit your needs and the home. We'll include many contingencies, such as obtaining financing, finishing the home inspection, and a clean title.
When we send in your purchase offer, you'll likely need to present "earnest money." This is a cash deposit given to the home seller to secure the offer to buy the property, and it's typically applied to the cost of closing. If the offer is accepted, we should close on the home about 30 to 60 days after. This allows necessary time for your mortgage financing.
Step 6 – Negotiate the deal
Most deals don't close on the first offer. It's pretty common to receive a counter offer. But don't let it intimidate you. We'll talk over whether or not to take the counter offer, propose our own counter offer, or refuse the seller's offer and go on.
Market conditions determine how aggressively we negotiate the contract.
In addition, we'll work within your financing budget. And when it's all said and done, we'll create a contract that works well for you.
Step 7 – Obtain a loan
After we sign the final deal, you'll start working with your mortgage lender to close the loan.
If you've been pre-approved, it won't take very long at all, but you'll want to keep in close contact with your lender.
And I'll take care of all the property information your lender needs to close the loan.
Step 8 – Close the deal
You'll get a Loan Estimate (LE) of your closing costs from your mortgage lender within three days of receiving your loan application.
This estimate depends on the loan amount. RESPA requirements dictate that it has to contain all closing costs and fall within a close range of accuracy, and I'll review the estimate and let you know if everything looks okay.
Then we'll close on your house. This should occur at a title company or escrow office and will likely be a smooth and stress-free occasion.
Step 9 – Move in
Congratulations! It's time to move into your new home. Enjoy it. And if you need anything, be sure to call me at (704) 896-2000 or e-mail me at .