Are you purchasing your new home in Burlington? David Massey Real Estate can help.
With some up-front planning, buying a home isn't all that difficult, but the event intimidates many people.
I like to provide buyers with an outline of the entire deal so they know exactly what they can expect.
These are my nine steps to purchasing a home.
Should you have any questions about this information or if you're prepared to get started, simply contact me here or e-mail me at .
Step 1 – Prepare to buy
There are plenty of things you'll want to contemplate before commencing your home search.
When you start your search, you'll probably want to assemble a checklist of items you need, get an idea of what neighborhoods and school districts you'd like to live in, and start working on your budget.
Keeping your mortgage payment less than or close to 30 percent of your net monthly income is a good rule to adhere to.
Step 2 – Get in touch with a real estate agent
This is where I can help.
We can plan a time to meet so we can talk about your real estate needs and get an idea of your upcoming plans.
We'll discuss the mortgage and housing industries, other economic factors that may potentially affect your purchase today or in the future, as well as neighborhoods and schools in the Burlington area.
I'll also help you get started on your loan.
I work with some of Burlington's best mortgage professionals, so you'll be in great hands.
They will assist you in choosing which kind of loan is best for you and help you get qualified.
Step 3 – Start looking for a house
After we meet, I'll begin looking for houses on the market that best suit you.
I'll preview most of the houses and exclude the duds, and then we'll set up appointments to tour the houses when it's convenient for you.
As we tour the homes, I'll identify positive features, as well as bad ones. And I'll ask you about things you like and don't like.
It's widely common for buyers to amend their list of must-haves as we view homes and some features become far more substantial than others.
If that's the case, I'll search all the listings another time and narrow it down to the home you've been waiting for.
Step 4 – Understand the housing market
An agent's awareness of the Burlington market is a necessary agent in your house search. And I assure you I'm acquainted with all the schools and neighborhoods, and I'll communicate some neighborhoods are "hot" and warrant prompt action and the ones that are "cold" and allow for careful consideration.
When we tour homes, I'll make sure to communicate when the seller's list price has room for bargaining and also when I think the house is "priced to sell."
Be mindful and be sure to ask plenty of questions, as every REALTOR in Burlington will convince you they truly understand the market.
If things don't add up, call me at (336) 226-9374 or e-mail me at , and I'll be glad to answer any questions you may have. My market expertise will keep you a step ahead throughout the entire deal.
Step 5 – Find the home you've been waiting for
I know we'll find your dream home in the Burlington area. When we do, I'll meticulously develop your real estate purchase offer. The offer will be tailored exactly to your needs and the home, including several contingencies, such as acquiring financing, finishing the inspection, and a clean title.
When presenting your purchase offer, you'll likely want to present "earnest money." This is a cash deposit given to the home seller to secure an offer to purchase the property, and it's most often applied to the cost of closing. If the seller accepts your offer, we should close on the home within 30 to 60 days afterward. This allows ample time for your mortgage financing.
Step 6 – Negotiate
Unfortunately most contracts don't close on the initial offer. It's really common to receive a counter offer. Don't let it alarm you. We'll discuss whether or not to accept the counter offer, propose our own counter offer, or reject the seller's offer and go on.
How aggressively we negotiate the contract depends on market conditions.
In addition, we'll work within your budget. And at the end of the day, we'll create a deal that works well for you.
Step 7 – Get your loan
Upon completing the deal, you'll start working with your lender to close the loan.
This shouldn't be a long process at all if you've been pre-qualified, but you'll need to keep in close contact with your mortgage lender.
And I'll look after all the property information your mortgage lender needs to close the loan.
Step 8 – Close the deal
You'll get a Loan Estimate (LE) detailing closing costs from your lender within three days of accepting your application.
This estimate rests on the loan amount, and RESPA requirements mandate that it has to include all closing costs and be within a narrow range of accuracy. I'll study the estimate and let you know if everything looks all right.
Then it's time to close on your home. This will probably occur at a title company or escrow office and will most often be a smooth and peaceful occasion.
Step 9 – Move in
Congratulations! It's time to move into your new home. Enjoy it. And if you need anything or have any questions, make sure you contact me at (336) 226-9374 or e-mail me at .