Let Connection Realty LLC assist you in buying a home in Randleman
Purchasing a home is intimidating for many people, but with some planning ahead of time, it isn't all that difficult.
I like to furnish buyers with a road map of the whole deal so they'll understand exactly what they can expect.
Here are my nine steps to buying a home.
Should you have any questions regarding this information or if you're ready to get started, you can contact me here or e-mail me at .
Step 1 – Get ready to buy
There are a lot of things you should do before you search for a home.
You'll most likely want to assemble a list of features you need, get a feel for what neighborhoods you want to live in, and begin working on your budget.
Keeping your mortgage payment less than a third of your monthly income is a good rule of thumb to adhere to.
Step 2 – Talk to a real estate agent
This is where Connection Realty LLC can help.
I'd be happy to plan a time to get together with you and speak with you regarding why you want to buy a home and get an idea of your upcoming plans.
We'll discuss neighborhoods, school districts in the Randleman area, the mortgage industry, and any additional economic factors that may affect your buying decision today or in the future.
In addition, I'll help you get started on your loan.
I partner with some of Randleman's best mortgage professionals, so you're in great hands.
They'll assist you in determining which kind of loan is best for you and help you get qualified.
Step 3 – Begin looking
After we meet for the first time, I'll start finding available houses on the market that best suit you.
I'll research many of the homes and reject the bad ones, and then we'll schedule appointments to tour the homes when it's most convenient for you.
When we tour the houses, I'll point out good features, as well as negative ones. And I'll ask you what things you like and dislike.
For the most part, buyers amend their list of must-haves as we tour homes and some items become more important than others.
If such is the case, I'll look through the listings another time and narrow it down to the home you've been dreaming about.
Step 4 – Comprehend the market
My understanding of the Randleman home market is a fundamental factor in your home search. I am familiar with all the neighborhoods and school districts, and I can let you know which districts are "hot" and require immediate action and some that are "cool" and allow for thoughtful analysis.
When we view homes, I'll be sure to tell you if the seller's list price has room for bargaining or if I believe the home is "priced to sell."
Any real estate agent in Randleman will convince you they comprehend the home market, but be wary, and be sure to ask your agent lots of questions.
If things don't add up, just call me at 336-498-1440 or e-mail me at , and I'll be glad to answer any questions you have. My understanding of the market will help you stay a step ahead through the entire deal.
Step 5 – Find the home you've been looking for
We'll find the home of your dreams in Randleman, and when we do, I'll precisely develop your purchase offer. The offer will be made to fit your needs and the home. We'll include a lot of contingencies, such as acquiring financing, carrying out the home inspection, and a clean title.
When presenting your offer, you'll want to present "earnest money." This is a cash deposit made to the seller to secure an offer to buy the property, and it's usually applied to the closing costs. If the offer is accepted by the seller, we should close on the home about 30 to 60 days afterward. This allows sufficient time for your mortgage financing.
Step 6 – Negotiate
Unfortunately most deals don't close on the beginning offer, and it's widely common to receive a counter offer. Don't let this discourage you. We'll consider whether or not to take the counter offer, submit our own counter offer, or decline the seller's offer and go on.
The state of the market will play a big part in how aggressively we negotiate the contract.
In addition, we'll work within your financing budget. And at the end of the day, we'll create a contract that works well for you.
Step 7 – Secure your loan
After the contract is finished, you'll start working with your lender to close the loan.
If you're already pre-approved, this won't take much time at all, but you need to stay in close contact with your lender.
And I'll manage all the property information your mortgage lender will need to close the loan.
Step 8 – Close the deal
Your lender will give you a Loan Estimate (LE) outlining closing costs within three days of receiving your application. You'll get a Loan Estimate (LE) detailing closing costs from your lender within three days of accepting your application.
This estimate is formed from the loan amount. RESPA requirements dictate that it has to contain all closing costs and fall within a narrow range of accuracy, and I'll go over the estimate and let you know if everything looks adequate.
Then we'll close on your house. This will most likely take place at a title company or escrow office and is often a smooth and calm affair.
Step 9 – Move in
Congratulations! It's time to move into your new home. Enjoy it. And if you need anything, simply call me at 336-498-1440 or e-mail me at .