Buying or selling a home?
Buying a home can be stressful for a lot of people, but it isn't too confusing with a little planning ahead of time.
So they understand exactly what they can expect, I like to furnish buyers with an overview of the entire deal.
Below are my nine steps to buying a home.
Should you have any questions regarding any of this information or if you're prepared to get started, you can contact me here or e-mail me at .
Step 1 – Get ready to buy a home
There are many things you need to contemplate before you start looking for a home.
When you begin your search, you'll want to form an index of features you need, get a plan of what school districts and neighborhoods you'd like to live in, and start planning around your budget.
Keeping your mortgage payment around 30 percent of your monthly income is a good rule to adhere to.
Step 2 – Speak with a real estate agent in Murphy
This is where Coldwell Banker High Country Realty can help.
We'll plan a time to meet so we can talk about 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 Murphy area, the mortgage industry, to any other economic factors that could affect your purchase today or in the future.
In addition, I'll help you get started on your loan.
There are some great mortgage professionals in Murphy, and I partner with a lot of them, so you'll be in great hands.
They can assist you in deciding which kind of loan is best for you and help you get qualified.
Step 3 – Start looking for a home
After our first meeting, I'll begin searching for homes on the market that are great for you.
I'll research many of the homes and ignore the duds, and then we'll schedule appointments to tour the homes whenever it's most convenient for you.
As we view houses, I'll identify good features, as well as bad ones. And I'll ask you to talk about things you like and don't like.
It's pretty common for buyers to change their wish list as we view homes and some items become more crucial than others.
If that's the situation, I'll look through all the listings again and trim it down to the home you've been wishing for.
Step 4 – Comprehend the housing market
My knowledge of the Murphy market is a crucial aspect in your home search. I am familiar with all the schools and neighborhoods, and I will communicate which districts are "hot" and warrant immediate action and some that are "cold" and allow for more consideration.
As we tour houses, I'll make sure to communicate when the list price has room for bargaining and when I think the house is "priced to sell."
When working with an agent, be careful and be sure to ask lots of questions. Every REALTOR will tell you they truly understand the housing market.
If it appears they don't know everything, call me at 828-835-8500 or e-mail me at , and I'd be more than happy to answer your questions. My market expertise will help you stay a step above the rest throughout the entire process.
Step 5 – Find the home you've been looking for
We'll find the home of your dreams in the Murphy area, and when that happens, I'll carefully develop your real estate purchase offer. The offer will be tailored exactly to your needs and the home, including many contingencies. A few examples are getting financing, completing the inspection, and a clear title.
Upon presenting your offer, you'll need to present "earnest money." This is a cash deposit submitted to the home seller to secure the offer to buy the property, and it's typically put towards the closing costs. If the seller accepts the offer, we should close within 30 to 60 days after. This allows sufficient time for your mortgage financing.
Step 6 – Negotiate the deal
Unfortunately most contracts don't close on the beginning offer, and it's extremely common to receive a counter offer. Don't let it alarm you. We'll talk over whether or not to agree to the counter offer, submit our own counter offer, or refuse the seller's offer and go on.
Market circumstances will play a vital role in how aggressively we negotiate the deal.
We'll also work within your budget. And at the end of the day, we'll create a deal that works well for you.
Step 7 – Obtain your loan
Upon completion of the deal, you'll begin working with your mortgage lender to close the loan.
If you've been pre-approved, it shouldn't take very long at all, but you'll want to keep in close contact with your lender.
And I'll look after all the property information your lender will need to close the loan.
Step 8 – Close the deal
Your mortgage lender will furnish you with a Loan Estimate (LE) detailing closing costs within three days of taking your loan application. You'll get a Loan Estimate (LE) outlining your closing costs from your mortgage lender within three days of taking your loan application.
This estimate is based on the loan amount, and RESPA requirements order that it has to include all closing costs and be within a strict range of accuracy. I'll review the estimate and let you know if everything looks all right.
Then we'll close on your house. This will probably happen at a title company or escrow office and will most often be a smooth and hassle-free occurrence.
Step 9 – Move in
Congratulations! Now you can move into your new home. Enjoy it. And if you need anything, make sure you contact me at 828-835-8500 or e-mail me at .