Are you contemplating purchasing your home in Lake Norman? Southern Homes of the Carolinas can help.
Buying a home can be stressful for many people. However, with a bit of up-front planning, it isn't that complex. So you understand exactly what to expect, I like to furnish my buyers with an outline of the entire deal. These are my nine steps to purchasing a home.
When you're ready to get started, just contact me here or send me e-mail
. I'm glad to address questions you have regarding this information.
Step 1 – Get ready to buy a home
There are many things you need to contemplate before you look for a home. When you begin your search, you'll probably want to put together a check list of must-haves, get a feel for what neighborhoods and school districts you'd like to live in, and begin planning your budget. Keeping your mortgage payment less than or close to a third of your monthly income is a good guideline to adhere to.
Step 2 – Speak with a real estate agent in Lake Norman
This is where Southern Homes of the Carolinas can help. I'd be more than happy to set up a time to meet with you and talk about why you want to buy a home and get an idea of your future plans. We'll discuss the mortgage and housing industries, other economic factors that might affect your purchase today or in the future, as well as neighborhoods and school districts in the Lake Norman area.
I'll also help you begin the loan process. Southern Homes of the Carolinas partners with some of Lake Norman's finest mortgage professionals, so you can rest assured that you're in great hands. They'll assist you in choosing which kind of loan is best for you and help you get approved.
Step 3 – Start house hunting
After our first meeting, I'll begin looking for homes on the market that are a good fit for you. I'll get a sneak peek of many of the houses and reject the duds, and then we'll book appointments to tour the homes when it's most convenient for you.
When we view houses, I'll point out positive features and bad ones. And I'll ask you to tell me about things you like and don't like. It's widely common for buyers to update their list of must-haves as we view houses and some features become far more crucial than others. If such is the case, I'll look through all the listings one more time and narrow it down to the home of your dreams.
Step 4 – Know the housing market
An agent's understanding of the Lake Norman market is a leading component in your home search. And I can assure you I'm mindful of all the school districts and neighborhoods, and I will let you know certain neighborhoods are "hot" and warrant prompt action and the rest that are "cold" and allow for careful examination.
When we tour houses, I'll let you know when the list price has room for bargaining and when I know the house is "priced to sell." When working with an agent, be careful and make sure you ask lots of questions, as any REALTOR® in Lake Norman will claim to know the market. If things don't add up, contact me at 704.634.1061 or e-mail me at email@example.com, and I'll be happy to answer any questions you may have. My market knowledge will keep you a step ahead throughout the entire deal.
Step 5 – Find your dream house
I know we'll find your dream home in Lake Norman. When that happens, I'll thoroughly create your real estate purchase offer. The offer will be tailored to suit your needs, including some contingencies. A few examples are getting financing, carrying out the home inspection, and a clean title.
When we send in your offer, most likely you'll want to submit "earnest money." This is a cash deposit made to the home seller to secure the offer to purchase the property, and it's often put towards the cost of closing. If the offer is accepted, we should close within 30 to 60 days afterward. This allows ample time for your mortgage financing.
Step 6 – Negotiate
Most contracts don't close on the beginning offer – it's pretty common to receive a counter offer. But don't let this discourage you. We'll talk about whether or not to take the counter offer, submit our own counter offer, or decline the seller's offer and go on.
How aggressively we negotiate the deal depends on market conditions. In addition, we'll work within your financing constraints. And when it's all said and done, we'll put together a contract that is best for you.
Step 7 – Obtain your loan
After we sign the final contract, you'll begin working with your mortgage lender to close the loan. If you're already pre-qualified, it won't take very long at all. But you should to keep in close contact with your mortgage lender. And I'll look after all the property information your mortgage lender will need to close the loan.>
Step 8 – Close the deal
Your lender will give you a Good Faith Estimate (GFE) detailing your closing costs within three days of taking your application. This estimate is based on 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 study the estimate and let you know if it all looks good.
Then we'll close on your house. This will most often occur at a title company or escrow office and is often a smooth and comfortable event.
Step 9 – Move in
You made it! It's time to move into your new home. Enjoy it. And if you need anything or have any questions, be sure to call me at 704.634.1061 or send me an e-mail.