Purchasing a home in Cornelius?
With some up-front planning, purchasing a home isn't very confusing, but the event is intimidating for many people.
So they know exactly what they can expect, I'll give buyers an outline of the entire deal.
Below are my nine steps to purchasing a home.
Should you have questions regarding this information or if you're ready to get started, simply contact me here or e-mail me at .
Step 1 – Prepare to buy
There are several things you need to consider prior to starting your home search.
You'll most likely want to create an outline of items you need, plan for what school districts you'd like to live in, and begin planning around your budget.
A good rule of thumb to follow is that your mortgage payment should be 30 percent of your monthly income.
Step 2 – Talk to a real estate agent
This is where I come in.
We can book a time to meet so we can talk about your real estate needs and get an idea of your upcoming plans.
We'll discuss the mortgage industry, other economic factors that may affect your buying decision today or in the future, as well as neighborhoods and school districts in the Cornelius area.
In addition, I'll help you facilitate the loan process.
I work with some of the best mortgage professionals in Cornelius, so you're in great hands.
They will assist you with figuring out which kind of loan is best for you and help you get approved.
Step 3 – Start your search
After our initial meeting, I'll start looking for available homes on the market that meet your needs.
I'll preview many of the houses and remove the bad ones, and then we'll book appointments to view the houses at a time that's convenient for you.
As we tour the houses, I'll call attention to positive features, as well as negative ones. I'll also ask you what things you like and dislike.
It's common for buyers to update their wish list as we view houses and some items become more important than others.
If such is the case, I'll search all the listings once more and narrow it down to the house you've been dreaming about.
Step 4 – Comprehend the housing market
Your agent's awareness of the Cornelius home market is a fundamental element in your house search. And I can assure you I'm acquainted with all the neighborhoods and schools, and I can let you know some districts are "hot" and call for immediate action and others that are "cold" and allow for more examination.
When we view homes, I'll make sure to communicate when the asking price has room for negotiation and also when I know the home is "priced to sell."
Be mindful and be sure to ask lots of questions, as every real estate agent in Cornelius will claim to understand the home market.
If it doesn't seem like they know everything, call me at (704) 896-2000 or e-mail me at , and I'll be happy to answer any questions you may have. My market knowledge will keep you a step above the rest throughout the entire deal.
Step 5 – Find the home of your dreams
We'll find the house of your dreams in Cornelius, and when we do, I'll thoroughly create your real estate purchase offer. The offer will be made to suit your needs and the home. We'll include a lot of contingencies, such as acquiring financing, completing the inspection, and a clean title.
Upon submitting your purchase offer, you'll probably need to submit "earnest money." This is a cash deposit submitted to the home seller to secure an offer to purchase the property and is usually applied to the cost of closing. If the offer is accepted, we should close on the property within 30 to 60 days afterward. This allows ample time for your mortgage financing.
Step 6 – Negotiate
Unfortunately most contracts aren't closed on the initial offer. It's really common to receive a counter offer. But don't let this intimidate you. We'll consider whether or not to consent to the counter offer, propose our own counter offer, or decline the seller's offer and go on.
How aggressively we negotiate the deal depends on market conditions.
We'll also work within your financing budget. And at the end of the day, we'll create a deal that works well for you.
Step 7 – Obtain your loan
Upon signing the contract, you'll start working with your lender to close the loan.
If you're pre-approved, this shouldn't take very long at all. However, you'll need to stay in close contact with your lender.
And I'll manage all the property information your lender will need to close the loan.
Step 8 – Close the deal
You'll get a Loan Estimate (LE) of closing costs from your mortgage lender within three days of getting your loan application.
The estimate depends on the loan amount, and RESPA requirements dictate that it has to include all closing costs and fall within a narrow range of accuracy. I'll study the estimate and let you know if everything looks all right.
Then it's time to close on your home. This should occur at a title company or escrow office and will likely be a smooth and pleasant occurrence.
Step 9 – Move in
Congratulations! It's time to move into your new house. Enjoy it. And if you have any questions, be sure to call me at (704) 896-2000 or e-mail me at .