Let Coldwell Banker High Country Realty help you with buying your new home in Murphy
With some planning ahead of time, purchasing a home isn't that complex, but the event is intimidating for many people.
I like to provide buyers with an outline of the whole deal so they'll understand exactly what they can expect.
These 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 questions you have regarding this information.
Step 1 – Prepare to buy
Before you begin your home search, there are plenty of things you need to contemplate.
You'll want to assemble a check list of features you want to have, get a plan of what neighborhoods and school districts you want to live in, and start working on your budget.
Ensuring your mortgage payment is around a third of your net monthly income is a good rule to follow.
Step 2 – Communicate with a real estate agent
That's where I can help.
We'll arrange a time to get together so we can talk about why you want to buy a home and get an idea of your future plans.
We'll discuss neighborhoods, schools in the Murphy area, the mortgage and housing industries, and any other economic factors that could potentially affect your purchase today or in the future.
In addition, I'll help you facilitate the loan process.
Coldwell Banker High Country Realty works with some of Murphy's best mortgage professionals, so you're in great hands.
They can assist you with determining which type of loan is best for you and help you get approved.
Step 3 – Begin looking for a home
After we meet, I'll start looking for available homes on the market that are a great fit for you.
I'll get a sneak peek of most of the homes and eliminate the bad ones, and then we'll schedule appointments to tour the homes when it's convenient for you.
When we view houses, I'll show you the good features, as well as negative ones. I'll even ask you to talk about things you like and don't like.
It's common for buyers to update their list of must-haves as we view homes and some things become far more crucial than others.
If such is the case, I'll go back through all the listings another time and narrow it down to the house you've been waiting for.
Step 4 – Understand the market
My knowledge of the Murphy home market is a necessary factor in your house search. I'm acquainted with all the neighborhoods and schools, and I can let you know certain neighborhoods are "hot" and demand prompt action and some that are "cold" and allow for thoughtful consideration.
When we tour houses, I'll let you know if the seller's asking price has room for negotiation or if I believe the home is "priced to sell."
Any REALTOR in Murphy will tell you they truly understand the housing market, but keep an eye out, and make sure you ask your agent a lot of questions.
If it doesn't seem like they know everything, contact me at 828-835-8500 or e-mail me at , and I'll be glad to answer any questions you have. My market knowledge will keep you a step ahead through the entire process.
Step 5 – Find the house you've been looking for
I'm sure we'll find your dream home in Murphy. When we do, I'll thoroughly create your purchase offer. The offer will be tailored exactly to your needs and the home, including some contingencies. A few examples are obtaining financing, completing the inspection, and a clean title.
Upon submitting your purchase offer, you'll want to submit "earnest money." This is a cash deposit made to a home seller to secure the offer to purchase the property, and it's typically 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 after. This allows plenty of time for your mortgage financing.
Step 6 – Negotiate
Unfortunately most contracts aren't closed on the beginning offer. It's very common to receive a counter offer. Don't let it intimidate you. We'll figure out whether or not to consent to the counter offer, submit our own counter offer, or refuse the seller's offer and move on.
The state of the market determines how aggressively we negotiate the deal.
We'll also work within your financing constraints. And when it's all said and done, we'll put together a contract that is best for you.
Step 7 – Secure your loan
Once the contract is finished, you'll begin working with your mortgage lender to close the loan.
It shouldn't be a long process at all if you're pre-qualified, but you'll need to keep in close contact with your mortgage lender.
And I'll look after 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 receiving your application.
The estimate is formed from the loan amount. RESPA requirements order that it has to include all closing costs and be within a tight range of accuracy, and I'll go over the estimate and let you know if it all looks good.
Then we'll close on your house. This will most often take place at a title company or escrow office and will probably be a smooth and easygoing occurrence.
Step 9 – Move in
Congratulations! Now you can move into your new home. Enjoy it. And if you need anything or have any questions, simply contact me at 828-835-8500 or e-mail me at .