Purchasing a home in Randleman
For a lot of people, buying a home can be a stressful event. However, with a bit of up-front planning, it isn't that difficult.
I like to provide buyers with an outline of the entire deal so they'll understand exactly what to expect.
These are my nine steps to purchasing a home.
If 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 – Prepare to buy a home
There are many things you need to contemplate before starting your home search.
It's likely that you'll want to make an outline of must-have features, get an idea of what neighborhoods and school districts you'd like to live in, and start planning your budget.
Ensuring your mortgage payment is less than 30 percent of your monthly income is a good principle to follow.
Step 2 – Get in touch with a real estate agent in Randleman
This is where Connection Realty LLC comes in.
We'll book a time to meet so we can talk about your real estate needs and get an idea of your plans for the future.
We'll discuss everything from neighborhoods, schools in the Randleman area, the mortgage industry, to any other economic factors that may affect your purchase today or in the future.
In addition, I'll help you begin the loan process.
There are some excellent mortgage professionals in Randleman, and I partner with a lot of them, so you're in great hands.
They will assist you in figuring out which kind of loan is best for you and help you get approved.
Step 3 – Begin your home search
Following our initial meeting, I'll begin looking for available houses on the market that are good for you.
I'll get a sneak peek of many of the homes and exclude the bad ones, and then we'll book appointments to tour the homes when it's most convenient for you.
When we tour houses, I'll show you the positive features and negative ones. I'll also ask you about things you like and dislike.
Oftentimes, buyers amend their list of must-haves as we view houses and some features become more important than others.
If such is the case, I'll go back through the listings again and trim it down to the home you've been waiting for.
Step 4 – Get a grasp of the housing market
My knowledge of the Randleman home market is a leading agent in your home search. I am familiar with all the schools and neighborhoods, and I will alert you to some neighborhoods are "hot" and demand immediate action and others that are "cold" and allow for thoughtful examination.
When we tour houses, I'll let you know when the list price has room for bargaining and when I think the home is "priced to sell."
When working with an agent, trust your instincts and be sure to ask plenty of questions, as every REALTOR will convince you they comprehend the market.
If it appears they don't know everything, just call me at 336-498-1440 or e-mail me at , and I'll be happy to answer any questions you might have. My market expertise will help you stay a step above the rest through the entire process.
Step 5 – Find the house you've been waiting for
I'm confident we'll find the house of your dreams in the Randleman area. When that happens, I'll meticulously create your home purchase offer. The offer will be made to suit your needs and the home. We'll include many contingencies, such as getting financing, carrying out the home inspection, and a clean title.
When submitting your offer, most likely you'll need to present "earnest money." This is a cash deposit made to the home seller to secure an offer to buy the property. The amount is usually applied to the closing costs. If your offer is accepted by the seller, we should close about 30 to 60 days after. This allows plenty of time for your mortgage financing.
Step 6 – Negotiate
Unfortunately most deals aren't closed on the beginning offer – it's widely common to receive a counter offer. But don't let this intimidate you. We'll talk over whether or not to accept the counter offer, present our own counter offer, or decline the seller's offer and move on.
The state of the market will play a role in how aggressively we negotiate the contract.
We'll also work within your financing budget. And at the end of the day, we'll put together a contract that's best for you.
Step 7 – Secure a loan
Once we sign the final deal, you'll begin working with your lender to close the loan.
This won't take much time at all if you're pre-approved, but you need to keep in close contact with your lender.
And I'll deal with all the property information your lender will need to close the loan.
Step 8 – Close the deal
You'll get a Loan Estimate (LE) of your closing costs from your lender within three days of taking your application.
The estimate is formed from the loan amount, and RESPA requirements dictate that it has to contain all closing costs and be within a narrow range of accuracy. I'll go over the estimate and let you know if everything looks good.
Then we'll close on your home. This will probably happen at a title company or escrow office and will probably be a smooth and easygoing event.
Step 9 – Move in
Congratulations! Now you can move into your new house. Enjoy it. And if you need anything or have any questions, simply contact me at 336-498-1440 or e-mail me at .