Contemplating buying a home in Cary?
Buying a home is stressful for most people. However, with some up-front planning, it's not all that complicated.
So they'll understand exactly what they can expect, I will supply buyers with a road map of the entire deal.
These are my nine steps to purchasing a home.
When you're ready to get started, simply contact me here or e-mail me at . I'm glad to address questions you have about this information.
Step 1 – Get ready to buy
There are a lot of things you need to contemplate before you look for a home.
When you start your search, you'll probably want to make a check list of features you need to have, plan for what neighborhoods you'd like to live in, and start planning your budget.
Ensuring your mortgage payment is less than or around 30 percent of your monthly income is a good principle to adhere to.
Step 2 – Talk to a real estate agent
This is where I come in.
We'll arrange a time to meet so we can talk about why you want to buy a home and get an idea of your future plans.
We'll discuss the mortgage industry, other economic factors that may potentially affect your buying decision today or in the future, as well as neighborhoods and school districts in the Cary area.
I can also help you facilitate the loan process.
RE/MAX Performance works with some of Cary's finest mortgage professionals, so you can rest assured that you're in great hands.
They'll help you decide which type of loan is best for you, as well as help you get approved.
Step 3 – Begin house-hunting
After we meet, I'll begin finding available houses on the market that are a good fit for you.
I'll research many of the houses and remove the bad ones, and then we'll book appointments to tour the houses whenever it's convenient for you.
When we tour the homes, I'll point out good features, as well as negative ones. And I'll ask you what things you like and don't like.
It's common for buyers to revise their must-have list as we tour homes and some things become far more crucial than others.
If that happens, I'll look through the listings one more time and narrow it down to the house you've been wishing for.
Step 4 – Know the housing market
An agent's awareness of the Cary home market is a crucial component in your house search. And I assure you I'm informed of all the schools and neighborhoods, and I'll let you know certain neighborhoods are "hot" and demand prompt action and some that are "cold" and allow for careful examination.
As we tour houses, I'll make sure to communicate if the seller's asking price has room for negotiation or if I believe the house is "priced to sell."
Be on guard and be sure to ask your agent a lot of questions, as any real estate agent will tell you they truly know the housing market.
If it appears they don't know everything, just call me at (919) 924-4991 or e-mail me at , and I'll be happy to answer any questions you might have. My market knowledge will keep you a step above the rest throughout the entire process.
Step 5 – Find the home of your dreams
We'll find your dream home in the Cary area, and when we do, I'll meticulously create your purchase offer. The offer will be made to fit your needs and the home. We'll include some contingencies, such as getting financing, finishing the home inspection, and a clean title.
Upon sending in your purchase offer, you'll want to submit "earnest money." This is a cash deposit made to a seller to secure the offer to buy the property and is most often put towards the cost of closing. If the offer is accepted, we should close on the property about 30 to 60 days after. This allows sufficient time for your mortgage financing.
Step 6 – Negotiate
Most deals don't close on the beginning offer – it's pretty common to receive a counter offer. But don't let it intimidate you. We'll talk about whether or not to consent to the counter offer, submit our own counter offer, or refuse the seller's offer and move on.
How aggressively we negotiate the deal depends on market circumstances.
In addition, we'll work within your financing constraints. And at the end of the day, we'll assemble a deal that is best for you.
Step 7 – Obtain a loan
Upon completing the deal, you'll begin working with your lender to close the loan.
If you're already pre-approved, this won't take very long at all, but you need to stay in close contact with your lender.
And I'll look after all the property information your lender needs to close the loan.
Step 8 – Close the deal
You'll get a Loan Estimate (LE) outlining your closing costs from your lender within three days of receiving your application.
The estimate is formed from the loan amount, and RESPA requirements dictate that it has to contain all closing costs and fall within a narrow range of accuracy. I'll go over the estimate and let you know if everything looks adequate.
Then it's time to close on your home. This will most likely occur at a title company or escrow office and will most often be a smooth and relaxed event.
Step 9 – Move in
Congratulations! It's time to move into your new house. Enjoy it. And if you need anything, simply contact me at (919) 924-4991 or e-mail me at .