Purchasing a home in Murphy
Buying a home intimidates a lot of people, but it's not too difficult with some planning ahead of time.
I like to provide buyers with a road map of the entire deal so they know exactly what to expect.
Below 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 about this information.
Step 1 – Get ready to buy
There are plenty of things you should consider before beginning your home search.
When you start your search, you'll probably want to assemble a checklist of must-haves, get a feel for what neighborhoods and school districts you want to live in, and begin working on your budget.
Ensuring your mortgage payment is less than or close to 30 percent of your net monthly income is a good principle to go by.
Step 2 – Get in touch with a real estate agent
That's where I can help.
I'd be more than happy to book a time to meet with you and communicate with you regarding why you want to buy a home and get an idea of your future plans.
We'll discuss neighborhoods, school districts in the Murphy area, the mortgage industry, and any other economic factors that may potentially affect your purchase today or in the future.
I'll also assist you with getting started on your loan.
I work with some of the best mortgage professionals in Murphy, so you can rest assured that you're in great hands.
They will assist you in deciding which type of loan is best for you and help you get approved.
Step 3 – Begin house hunting
After our first meeting, I'll begin looking for houses on the market that are a good fit for you.
I'll get a sneak peek of most of the homes and ignore the duds, and then we'll set up appointments to view the homes when it's most convenient for you.
As we view the homes, I'll point out good features, as well as negative ones. I'll even ask you to tell us about things you like and dislike.
It's common for buyers to amend their list of must-haves as we tour houses and some things become more important than others.
If that happens, I'll look through all the listings once more and narrow it down to the house you've been wishing for.
Step 4 – Get a grasp of the market
My awareness of the Murphy housing market is an essential factor in your home search. I am mindful of all the schools and neighborhoods, and I'll communicate which neighborhoods are "hot" and warrant immediate action and the ones that are "cool" and allow for careful analysis.
As we tour homes, I'll be sure to tell you if the list price has room for negotiation or if I believe the house is "priced to sell."
Every real estate agent in Murphy will convince you they know the housing market, but be mindful, and make sure you ask a lot of questions.
If it doesn't seem like they know everything, just call 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 throughout the entire deal.
Step 5 – Find the house of your dreams
We'll find the house of your dreams in Murphy, and when we do, I'll meticulously create your home purchase offer. The offer will be made to fit your needs and the home. We'll include some contingencies, such as acquiring financing, carrying out the inspection, and a clear title.
Upon presenting your purchase offer, you'll want to present "earnest money." This is a cash deposit given to a home seller to secure an offer to buy the property and is most often put towards the cost of closing. If your offer is accepted, we should close 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 initial offer. It's extremely common to receive a counter offer. But don't let it discourage you. We'll discuss whether or not to accept the counter offer, submit our own counter offer, or reject 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 budget. And at the end of the day, we'll formulate a deal that is best for you.
Step 7 – Secure a loan
Upon completion of the contract, you'll start working with your mortgage lender to close the loan.
This won't take long at all if you're pre-qualified, but you'll want to keep in close contact with your mortgage lender.
And I'll take care of all the property information your lender needs to close the loan.
Step 8 – Close the deal
You'll get a Loan Estimate (LE) detailing your closing costs from your lender within three days of receiving your application.
This estimate is based on the loan amount, and RESPA requirements mandate that it has to involve all closing costs and fall within a tight range of accuracy. I'll review the estimate and let you know if it all looks permissible.
Then it's time to close on your home. This should happen at a title company or escrow office and will most likely be a smooth and calm occasion.
Step 9 – Move in
Congratulations! Now you can move into your new house. Enjoy it. And if you have any questions, simply call me at 828-835-8500 or e-mail me at .