Buying or selling a home? Southern Homes of the Carolinas can help.
Purchasing a home can be stressful for many people. However, with a little up-front planning, it isn't very difficult.
I like to furnish buyers with an overview of the entire deal so they'll understand exactly what they can expect.
Here are my nine steps to purchasing a home.
When you're ready to get started, just contact me here or e-mail me at . I'm glad to address questions you have about this information.
Step 1 – Prepare to purchase a home
Before you begin your home search, there are a lot of things you should do.
When you start your search, you'll want to create a check list of features you want, get a plan of what school districts you'd like to live in, and begin working on your budget.
A good rule of thumb to go by is that your mortgage payment should be less than or around 1/3 of your monthly income.
Step 2 – Get in touch with a real estate agent
This is where Southern Homes of the Carolinas can help.
We can set up a time to meet so we can talk about why you want to buy a home and get an idea of your upcoming plans.
We'll discuss the mortgage industry, other economic factors that could potentially affect your purchase today or in the future, as well as neighborhoods and schools in the Cornelius area.
I'll also help you facilitate the loan process.
There are some great mortgage professionals in Cornelius, and I partner with a lot of them, so you're in great hands.
They can assist you with choosing which kind of loan is best for you and help you get approved.
Step 3 – Begin house-hunting
Following our first meeting, I'll start looking for available houses on the market that are good for you.
I'll get a sneak peek of many of the houses and remove the bad ones, and then we'll set up appointments to tour the houses whenever it's most convenient for you.
As we tour houses, I'll point out positive features and negative ones. I'll also ask you to tell us about things you like and don't like.
It's common for buyers to revise their list of must-haves as we tour homes and some features become far more important than others.
If such is the case, I'll look through the listings one more time and narrow it down to the house of your dreams.
Step 4 – Know the market
My awareness of the Cornelius market is a necessary element in your house search. I am conscious of all the neighborhoods and school districts, and I can let you know which neighborhoods are "hot" and require prompt action and the ones that are "cold" and allow for careful consideration.
As we tour houses, I'll make sure to communicate if the seller's asking price has room for bargaining or if I believe the house is "priced to sell."
Any REALTOR in Cornelius will claim to truly understand the housing market, but keep an eye out, and make sure you ask your agent lots of questions.
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 help you stay a step above the rest throughout the entire deal.
Step 5 – Find your dream home
We'll find your dream house in the Cornelius area, and when that happens, I'll meticulously create your real estate purchase offer. The offer will be tailored exactly to your needs and the home, including some contingencies. A few examples are obtaining financing, carrying out the home inspection, and a clean title.
When sending in your offer, you'll need to submit "earnest money." This is a cash deposit given to a home seller to secure an offer to purchase the property and is often applied to the closing costs. If your 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 the deal
Unfortunately most deals don't close on the beginning offer – it's extremely common to receive a counter offer. But don't let it intimidate you. We'll talk over whether or not to consent to the counter offer, submit our own counter offer, or decline the seller's offer and move on.
The state of the market determines how aggressively we negotiate the contract.
In addition, we'll work within your budget. And at the end of the day, we'll assemble a contract that works well for you.
Step 7 – Get your loan
Upon completion of the contract, you'll start working with your mortgage lender to close the loan.
If you're pre-qualified, it won't take much time at all, but you'll want to stay in close contact with your 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 provide you with a Loan Estimate (LE) detailing your closing costs within three days of getting your application. You'll get a Loan Estimate (LE) outlining your closing costs from your mortgage lender within three days of taking your loan application.
The estimate depends 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 analyze the estimate and let you know if it all looks okay.
Then it's time to close on your house. This will most often happen at a title company or escrow office and will most often be a smooth and pleasant event.
Step 9 – Move in
Congratulations! Now you can move into your new house. Enjoy it. And if you need anything or have any questions, simply call me at (704) 896-2000 or e-mail me at .