Contemplating purchasing a new home in Burlington?
Purchasing a home is an intimidating event for a lot of people. However, with a bit of planning ahead of time, it isn't very complex.
So they understand exactly what they can expect, I will furnish buyers with an overview of the whole deal.
These are my nine steps to purchasing a home.
When you're ready to get started, you can contact me here or e-mail me at . I'm happy to answer any questions you have about this information.
Step 1 – Get ready to buy a home
There are plenty of things you'll want to take into account prior to starting your home search.
You'll most likely want to assemble a list of features you need to have, get a plan of what school districts you'd like to live in, and begin planning your budget.
Keeping your mortgage payment less than 1/3 of your monthly income is a good guideline to adhere to.
Step 2 – Speak with a real estate agent
This is where I come in.
I'd be happy to book a time to meet with you and communicate with you regarding why you want to buy a home and get an idea of your plans for the future.
We'll talk about the mortgage industry, other economic factors that may affect your buying decision today or in the future, as well as neighborhoods and school districts in the Burlington area.
In addition, I'll help you start the loan process.
There are some great mortgage professionals in Burlington, and I work with a lot of them, so you can rest assured that you're in great hands.
They will help you choose which type of loan is best for you, as well as help you get qualified.
Step 3 – Begin your home search
Following our initial meeting, I'll start looking for available houses on the market that suit your needs.
I'll get a sneak peek of most of the homes and remove the duds, and then we'll schedule appointments to tour the homes whenever it's convenient for you.
When we view the homes, I'll point out positive features and negative ones. I'll also ask you to point out what things you like and dislike.
It's pretty common for buyers to update their must-have list as we tour houses and some features become more essential than others.
If that's the case, I'll search all the listings once more and trim it down to the home of your dreams.
Step 4 – Comprehend the housing market
Your agent's knowledge of the Burlington home market is an imperative agent in your home search. And I can assure you I'm mindful of all the neighborhoods and school districts, and I can alert you to some neighborhoods are "hot" and call for prompt action and the ones that are "cold" and allow for thoughtful consideration.
When we view homes, I'll make sure to communicate if the seller's asking price has room for bargaining or if I believe the house is "priced to sell."
Be careful and make sure you ask plenty of questions, as every real estate agent will claim to comprehend the home market.
If it seems like they don't know everything, call me at (336) 226-9374 or e-mail me at , and I'd be glad to answer any questions you may have. My market knowledge will keep you a step ahead through the entire process.
Step 5 – Find the home you've been looking for
We'll find your dream house in Burlington, and when that happens, I'll thoroughly create your purchase offer. The offer will be tailored to suit your needs and the home, including many contingencies. A few examples are acquiring financing, carrying out the inspection, and a clear title.
When we present your offer, you'll probably want to submit "earnest money." This is a cash deposit submitted to a home seller to secure an offer to buy the property, and it's typically put towards the closing costs. If your offer is accepted, we should close on the home within 30 to 60 days after. This allows plenty of time for your mortgage financing.
Step 6 – Negotiate the deal
Unfortunately most deals aren't closed on the first offer – it's pretty common to receive a counter offer. Don't let this discourage you. We'll talk about whether or not to agree to the counter offer, present our own counter offer, or decline the seller's offer and go on.
The state of the market determines how aggressively we negotiate the deal.
In addition, we'll work within your budget. And when it's all said and done, we'll compose a contract that's best for you.
Step 7 – Get financing
Once we sign the final deal, you'll start working with your lender to close the loan.
It won't take much time at all if you're already pre-approved, but you 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) outlining your closing costs from your lender within three days of receiving your application.
This estimate is formed from the loan amount. RESPA requirements dictate that it has to include all closing costs and be within a precise range of accuracy, and I'll analyze the estimate and let you know if everything looks all right.
Then we'll close on your house. This will probably take place at a title company or escrow office and should be a smooth and calm affair.
Step 9 – Move in
Congratulations! Now you can move into your new house. Enjoy it. And if you need anything or have any questions, make sure you call me at (336) 226-9374 or e-mail me at .