Contemplating purchasing your home in Cornelius? Southern Homes of the Carolinas can help.
For a lot of people, purchasing a home can be an intimidating event. However, with a bit of up-front planning, it's not too confusing.
So they 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.
Should you have any questions regarding this information or if you're ready to get started, simply contact me here or e-mail me at .
Step 1 – Get ready to buy a home
There are a lot of things you should consider before you look for a home.
When you start your search, you'll want to make a check list of features you need to have, get a feel for what school districts you want to live in, and start planning your budget.
Keeping your mortgage payment around 30 percent of your monthly income is a good principle to follow.
Step 2 – Communicate with a real estate agent in Cornelius
That's where I come in.
I'd be more than happy to set up a time to get together with you and speak with you regarding why you want to buy a home and get an idea of your plans for the future.
We'll discuss everything from neighborhoods, schools in the Cornelius area, the mortgage industry, to any other economic factors that could affect your buying decision today or in the future.
I can also help you start the loan process.
There are some great mortgage professionals in Cornelius, and I work with a lot of them, so you're in great hands.
They can assist you with choosing which type of loan is best for you and help you get qualified.
Step 3 – Begin your home search
After our first meeting, I'll start looking for homes on the market that are a great fit for you.
I'll research many of the homes and remove the duds, and then we'll book appointments to tour the houses at a time that's convenient for you.
When we tour houses, I'll call attention to positive features and bad ones. I'll also ask you about things you like and dislike.
Frequently, buyers change their list of must-haves as we view homes and some things become far more essential than others.
If such is the case, I'll go back through the listings one more time and trim it down to the home you've been dreaming about.
Step 4 – Know the housing market
Your agent's understanding of the Cornelius market is an imperative aspect in your house search. And I can assure you I'm acquainted with all the neighborhoods and school districts, and I'll let you know certain neighborhoods are "hot" and call for prompt action and some that are "cold" and allow for thoughtful consideration.
When we tour houses, I'll make sure to communicate if the seller's asking price has room for negotiation or if I believe the house is "priced to sell."
When working with an agent, be careful and be sure to ask a lot of questions, as any REALTOR in Cornelius will convince you they truly know the home market.
If things don't add up, call me at (704) 896-2000 or e-mail me at , and I'd be happy to answer any questions you may have. My knowledge of the market will help you stay a step ahead through the entire deal.
Step 5 – Find your dream house
I'm certain we'll find your dream house in the Cornelius area. When that happens, I'll precisely develop your real estate purchase offer. The offer will be tailored keeping your needs in mind and the home, including some contingencies, such as obtaining financing, carrying out the inspection, and a clean title.
Upon turning in your purchase offer, most likely you'll want to present "earnest money." This is a cash deposit submitted to the seller to secure an offer to purchase the property, and it's usually applied to the cost of closing. If the offer is accepted by the seller, we should close on the home about 30 to 60 days afterward. This allows plenty of time for your mortgage financing.
Step 6 – Negotiate the deal
A lot of deals don't close on the first offer. It's extremely common to receive a counter offer. But don't let it alarm you. We'll discuss whether or not to consent to the counter offer, submit our own counter offer, or reject the seller's offer and move on.
The state of the market will play a part in how aggressively we negotiate the contract.
We'll also work within your financing budget. And when it's all said and done, we'll compose a contract that's best for you.
Step 7 – Obtain your loan
Once we sign the final sales contract, you'll begin working with your lender to close the loan.
This won't take much time at all if you're already pre-approved, but you need to stay in close contact with your lender.
And I'll look after all the property information your mortgage 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 taking your application.
The estimate is formed from the loan amount, and RESPA requirements require that it has to contain all closing costs and fall within a precise range of accuracy. I'll analyze the estimate and let you know if it all looks okay.
Then we'll close on your home. This will likely occur at a title company or escrow office and will likely be a smooth and calm occurrence.
Step 9 – Move in
Congratulations! It's time to move into your new home. Enjoy it. And if you have any questions, just call me at (704) 896-2000 or e-mail me at .