Buying or selling a home in Cary? RE/MAX Performance can help.
Buying a home can be stressful for most people, but with a little up-front planning, it's not very confusing.
I like to supply buyers with an outline of the entire deal so they'll know exactly what to expect.
These are my nine steps to buying a home.
If you have questions about this information or if you're ready to get started, you can contact me here or e-mail me at .
Step 1 – Prepare to purchase a home
Before you commence your home search, there are plenty of things you should do.
You'll most likely want to create a list of must-have features, get a feel for what neighborhoods you'd like to live in, and begin planning your budget.
Keeping your mortgage payment less than 1/3 of your monthly income is a good rule of thumb to follow.
Step 2 – Speak with a real estate agent
This is where I can help.
We can arrange a time to get together so we can talk about your real estate needs and get an idea of your future plans.
We'll discuss neighborhoods, school districts in the Cary area, the mortgage industry, and any other economic factors that could affect your purchase today or in the future.
I'll also assist you with getting started on your loan.
There are some excellent mortgage professionals in Cary, and I partner with a lot of them, so you're in great hands.
They will assist you with figuring out which type of loan is best for you and help you get qualified.
Step 3 – Start house-hunting
After our first meeting, I'll begin looking for available homes on the market that are great for you.
I'll research most of the houses and ignore the duds, and then we'll set up appointments to view the houses when it's convenient for you.
When we tour the houses, I'll call attention to positive features and negative ones. And I'll ask you to tell us about things you like and don't like.
It's common for buyers to revise their must-have list as we tour homes and some features become far more necessary than others.
If that happens, I'll go back through the listings one more time and narrow it down to the house you've been dreaming about.
Step 4 – Understand the market
My awareness of the Cary market is a fundamental factor in your house search. I'm acquainted with all the school districts and neighborhoods, and I can let you know what districts are "hot" and call for immediate action and others that are "cool" and allow for careful analysis.
When we view homes, I'll be sure to tell you if the asking price has room for negotiation or if I believe the home is "priced to sell."
When working with an agent, be careful and make sure you ask a lot of questions. Every REALTOR will tell you they know the home market.
If it doesn't seem like they know everything, contact me at (919) 924-4991 or e-mail me at , and I'll be glad to answer any questions you might have. My market expertise will keep you a step above the rest through the entire deal.
Step 5 – Find your dream home
I'm sure we'll find your dream house in Cary. When that happens, I'll thoroughly create your purchase offer. The offer will be tailored keeping your needs in mind and the home, including several contingencies. A few examples are obtaining financing, completing the inspection, and a clean title.
When submitting your purchase offer, you'll want to submit "earnest money." This is a cash deposit given to a home seller to secure the offer to buy the property and is typically put towards the cost of closing. If the seller accepts your offer, we should close within 30 to 60 days afterward. This allows ample time for your mortgage financing.
Step 6 – Negotiate
Unfortunately most deals don't close on the initial offer. It's very common to receive a counter offer. But don't let this alarm you. We'll talk over whether or not to accept the counter offer, present our own counter offer, or refuse the seller's offer and move on.
Market conditions will play a vital role in how aggressively we negotiate the deal.
In addition, we'll work within your financing constraints. And when it's all said and done, we'll put together a deal that works well for you.
Step 7 – Get your loan
Once the deal is complete, you'll begin working with your lender to close the loan.
This shouldn't take much time at all if you're already pre-approved, but you need to keep in close contact with your lender.
And I'll take care of all the property information your lender needs to close the loan.
Step 8 – Close the deal
Your mortgage lender will give you a Loan Estimate (LE) of your closing costs within three days of accepting your application. You'll get a Loan Estimate (LE) of closing costs from your lender within three days of accepting your application.
The estimate depends on the loan amount, and RESPA requirements require 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 adequate.
Then it's time to close on your house. This will likely happen at a title company or escrow office and will probably be a smooth and relaxing occasion.
Step 9 – Move in
Congratulations! It's time to move into your new house. Enjoy it. And if you have any questions, just contact me at (919) 924-4991 or e-mail me at .