Purchasing a home in Burlington?
For most people, buying a home can be a stressful event. But with a bit of up-front planning, it isn't very difficult.
So they'll understand exactly what to expect, I will give buyers an overview of the whole deal.
These are my nine steps to buying a home.
When you're ready to get started, just contact me here or e-mail me at . I'm glad to answer questions you have about this information.
Step 1 – Get ready to buy
There are plenty of things you should contemplate before you look for a home.
When you begin your search, you'll want to put together an outline of features you need to have, get a feel for what neighborhoods you'd like to live in, and start working on your budget.
A good rule of thumb to go by is that your mortgage payment should be less than or around 1/3 of your net monthly income.
Step 2 – Talk to a real estate agent
This is where David Massey Real Estate can help.
We'll schedule a time to get together so we can talk about your real estate needs and get an idea of your upcoming plans.
We'll talk about neighborhoods, schools in the Burlington area, the mortgage and housing industries, and any other economic factors that may potentially affect your purchase today or in the future.
I can also help you start the loan process.
David Massey Real Estate works with some of Burlington's finest mortgage professionals, so you'll be in great hands.
They can help you choose which type of loan is best for you, as well as help you get approved.
Step 3 – Begin your home search
Following our initial meeting, I'll start finding houses on the market that are good for you.
I'll research many of the houses and remove the duds, and then we'll schedule appointments to tour the homes at a time that's convenient for you.
As we view homes, I'll identify good features and bad ones. I'll also ask you to tell us about things you like and don't like.
It's pretty common for buyers to amend their wish list as we view houses and some features become more crucial than others.
If such is the case, I'll look through the listings once more and narrow it down to the home you've been wishing for.
Step 4 – Understand the housing market
Your agent's understanding of the Burlington housing market is a crucial element in your home search. And I can assure you I'm informed of all the neighborhoods and school districts, and I'll alert you to some districts are "hot" and warrant immediate action and some that are "cool" and allow for careful consideration.
When we tour homes, I'll make sure to communicate when the seller's asking price has room for negotiation and when I know the house is "priced to sell."
Any real estate agent in Burlington will tell you they truly understand the market, but be mindful, and make sure you ask lots of questions.
If things don't add up, contact me at (336) 226-9374 or e-mail me at , and I'll be glad to answer any questions you might have. My understanding of the market will keep you a step ahead through the entire deal.
Step 5 – Find the house of your dreams
We'll find the home of your dreams in the Burlington area, and when we do, I'll carefully create your home purchase offer. The offer will be made to fit your needs and the home. We'll include several contingencies, such as obtaining financing, carrying out the inspection, and a clear title.
When we send in your offer, you'll need to present "earnest money." This is a cash deposit submitted to the home seller to secure the offer to purchase the property and is usually applied to the cost of closing. If your offer is accepted by the seller, we should close about 30 to 60 days afterward. This allows necessary time for your mortgage financing.
Step 6 – Negotiate
Most deals aren't closed on the first offer, and it's widely common to receive a counter offer. Don't let this discourage you. We'll consider whether or not to accept the counter offer, submit our own counter offer, or refuse the seller's offer and move on.
How aggressively we negotiate the deal depends on the state of the market.
We'll also work within your financing budget. And at the end of the day, we'll put together a deal that is best for you.
Step 7 – Secure a loan
Once the deal is finished, you'll start working with your mortgage lender to close the loan.
If you've been pre-qualified, this won't take long at all, but you need 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
You'll get a Loan Estimate (LE) of your closing costs from your lender within three days of getting your loan application.
The estimate depends on the loan amount, and RESPA requirements dictate that it has to involve all closing costs and fall within a precise range of accuracy. I'll review the estimate and let you know if it all looks okay.
Then it's time to close on your home. This will most likely take place at a title company or escrow office and will likely be a smooth and peaceful event.
Step 9 – Move in
Congratulations! It's time to move into your new home. Enjoy it. And if you have any questions, simply contact me at (336) 226-9374 or e-mail me at .