Purchasing a home in Murphy
With some up-front planning, purchasing a home isn't that confusing, but the event intimidates a lot of people.
So they know exactly what to expect, I'll supply buyers with an overview of the whole deal.
These are my nine steps to buying a home.
When you're ready to get started, just 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 purchase
Before you start looking for a home, there are a lot of things you'll want to do.
It's likely that you'll want to put together a check list of items you want, get a plan of what neighborhoods you'd like to live in, and start working on your budget.
A good rule to go by is that your mortgage payment should be less than or around 1/3 of your monthly income.
Step 2 – Connect with a real estate agent
This is where I can help.
I'd be more than happy to set up a time to meet with you and communicate with you regarding why you want to buy a home and get an idea of your plans for the future.
We'll talk about neighborhoods, school districts in the Murphy area, the mortgage industry, and any additional economic factors that may affect your purchase today or in the future.
In addition, I'll assist you with getting started on your loan.
Coldwell Banker High Country Realty partners with some of Murphy's finest mortgage professionals, so you'll be in great hands.
They can help you figure out which type of loan is best for you, as well as help you get approved.
Step 3 – Start looking
After our first meeting, I'll begin looking for homes on the market that are great for you.
I'll get a sneak peek of most of the houses and ignore the bad ones, and then we'll book appointments to tour the houses when it's convenient for you.
When we view the houses, I'll call attention to positive features, as well as negative ones. I'll even ask you about things you like and don't like.
It's common for buyers to change their wish list as we view houses and some things become more essential than others.
If such is the case, I'll look through the listings another time and narrow it down to the house of your dreams.
Step 4 – Get a grasp of the market
My understanding of the Murphy housing market is an imperative component in your house search. I am mindful of all the schools and neighborhoods, and I'll let you know what neighborhoods are "hot" and warrant immediate action and others that are "cool" and allow for careful examination.
When we tour houses, I'll make sure to communicate if the asking price has room for negotiation or if I believe the house is "priced to sell."
Every real estate agent in Murphy will tell you they understand the home market, but be on guard, and make sure you ask lots of questions.
If it appears they don't know everything, contact me at 828-835-8500 or e-mail me at , and I'd be glad to answer any questions you have. My market knowledge will help you stay a step above the rest through the entire deal.
Step 5 – Find the home you've been waiting for
I'm confident we'll find your dream house in Murphy. When we do, I'll precisely develop your purchase offer. The offer will be tailored with your needs in mind and the home, including many contingencies, such as obtaining financing, carrying out the home inspection, and a clear title.
When we present your offer, you'll want to submit "earnest money." This is a cash deposit submitted to the home seller to secure an offer to purchase the property and is typically put towards the closing costs. If the offer is accepted by the seller, we should close about 30 to 60 days afterward. This allows necessary time for your mortgage financing.
Step 6 – Negotiate
A lot of deals aren't closed on the beginning offer – it's widely common to receive a counter offer. But don't let it alarm you. We'll talk about whether or not to agree to the counter offer, present our own counter offer, or refuse the seller's offer and go on.
The state of the market determines how aggressively we negotiate the deal.
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 – Secure a loan
After we sign the final contract, you'll start working with your lender to close the loan.
This shouldn't take very long at all if you're pre-qualified, but you'll need to keep in close contact with your lender.
And I'll care for all the property information your lender needs to close the loan.
Step 8 – Close the deal
Your lender will supply you with a Loan Estimate (LE) of your closing costs within three days of getting your loan application. You'll get a Loan Estimate (LE) detailing your closing costs from your mortgage lender within three days of getting your loan application.
The estimate is formed from the loan amount. RESPA requirements dictate that it has to involve all closing costs and be within a narrow range of accuracy, and I'll go over the estimate and let you know if everything looks okay.
Then it's time to close on your house. This will most often occur at a title company or escrow office and is often a smooth and easygoing event.
Step 9 – Move in
Congratulations! It's time to move into your new house. Enjoy it. And if you need anything or have any questions, simply call me at 828-835-8500 or e-mail me at .