Are you looking to purchase a home in Burlington? David Massey Real Estate can help.
Buying a home is a stressful event for a lot of people, but it isn't too complex with a bit of up-front planning.
I like to supply buyers with an outline of the whole deal so they'll know exactly what to expect.
Below are my nine steps to purchasing a home.
If you have questions about any of this information or if you're ready to get started, simply contact me here or e-mail me at .
Step 1 – Prepare to purchase a home
There are several things you should take into account prior to beginning your home search.
You'll probably want to form a checklist of items you need to have, get a feel for what neighborhoods and school districts you want to live in, and start planning your budget.
A good principle to follow is that your mortgage payment should be around 1/3 of your net monthly income.
Step 2 – Communicate with a real estate agent
This is where David Massey Real Estate can help.
We can arrange a time to get together 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 Burlington area, the mortgage industry, to any other economic factors that may potentially affect your purchase today or in the future.
I'll also assist you with getting started on your loan.
I partner with some of the best mortgage professionals in Burlington, so you'll be in great hands.
They can assist you with figuring out which type of loan is best for you and help you get approved.
Step 3 – Start your search
Following our first meeting, I'll start looking for homes on the market that are good for you.
I'll preview many of the homes and exclude the bad ones, and then we'll set up appointments to view the homes when it's most convenient for you.
As we tour houses, I'll identify good features and negative ones. I'll also ask you to talk about things you like and dislike.
It's pretty common for buyers to amend their must-have list as we view houses and some items become far more substantial than others.
If such is the case, I'll search the listings again and trim it down to the home you've been waiting for.
Step 4 – Understand the market
An agent's awareness of the Burlington housing market is a fundamental agent in your home search. And I assure you I'm conscious of all the neighborhoods and school districts, and I will let you know some neighborhoods are "hot" and call for immediate action and the ones that are "cool" and allow for cautiousness.
When we view homes, I'll make sure to communicate when the asking price has room for negotiation and when I believe the home is "priced to sell."
Any REALTOR will convince you they truly know the market, but beware, and be sure to ask your agent lots of questions.
If it appears they don't know everything, just call me at (336) 226-9374 or e-mail me at , and I'd be more than happy to answer any questions you might have. My market knowledge will help you stay a step ahead through the entire deal.
Step 5 – Find your dream home
We'll find your dream home in the Burlington area, and when we do, I'll meticulously create your real estate purchase offer. The offer will be tailored keeping your needs in mind and the home, including many contingencies, such as obtaining financing, completing the home inspection, and a clean title.
Upon sending in your offer, you'll need to present "earnest money." This is a cash deposit made to the seller to secure an offer to purchase the property and is typically applied to the cost of closing. If your offer is accepted by the seller, we should close on the property within 30 to 60 days after. This allows enough time for your mortgage financing.
Step 6 – Negotiate the deal
Unfortunately most deals aren't closed on the first offer. It's extremely common to receive a counter offer. But don't let this alarm you. We'll consider whether or not to take the counter offer, present our own counter offer, or reject the seller's offer and move on.
The state of the market will play a vital role in how aggressively we negotiate the contract.
We'll also work within your budget. And at the end of the day, we'll formulate a deal that works well for you.
Step 7 – Secure a loan
Once the deal is complete, you'll start working with your mortgage lender to close the loan.
If you've been pre-qualified, this won't take much time at all, but you should to stay in close contact with your lender.
And I'll sort out all the property information your lender needs to close the loan.
Step 8 – Close the deal
Your lender will give you a Loan Estimate (LE) of closing costs within three days of getting your loan application. You'll get a Loan Estimate (LE) of closing costs from your mortgage lender within three days of receiving your application.
This estimate rests on the loan amount. RESPA requirements mandate that it has to include all closing costs and be within a tight range of accuracy, and I'll analyze the estimate and let you know if everything looks okay.
Then it's time to close on your home. This will most likely happen at a title company or escrow office and will most likely be a smooth and peaceful affair.
Step 9 – Move in
Congratulations! It's time to move into your new home. Enjoy it. And if you need anything, just contact me at (336) 226-9374 or e-mail me at .