Buying or selling a home?
Purchasing a home can be stressful for many people, but with a little planning ahead of time, it isn't all that complex.
So they understand exactly what they can expect, I will furnish buyers with an outline 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 address questions you have about this information.
Step 1 – Prepare to purchase
There are many things you need to contemplate before beginning your home search.
When you begin your search, you'll probably want to assemble a list of items you need to have, get an idea of what school districts you'd like to live in, and begin planning around your budget.
Keeping your mortgage payment around 1/3 of your monthly income is a good principle to go by.
Step 2 – Connect with a real estate agent in Burlington
This is where I come in.
I'd be happy to plan a time to get together with you and speak with you regarding why you want to buy a home and get an idea of your plans for the future.
We'll discuss everything from neighborhoods, school districts in the Burlington area, the mortgage and housing industries, to any other economic factors that may potentially affect your purchase today or in the future.
I can also assist you with getting started on your loan.
David Massey Real Estate works with some of the best mortgage professionals in Burlington, so you're in great hands.
They will assist you in determining which type of loan is best for you and help you get qualified.
Step 3 – Start your search
After our initial meeting, I'll start finding houses on the market that are a good fit for you.
I'll get a sneak peek of most of the homes and eliminate the bad ones, and then we'll book appointments to view the houses when it's most convenient for you.
As we tour homes, I'll show you the positive features and negative ones. And I'll ask you to talk about things you like and dislike.
It's widely common for buyers to change their must-have list as we view homes and some things become more necessary than others.
If such is the case, I'll go back through the listings once again and narrow it down to the home of your dreams.
Step 4 – Get a grasp of the market
My awareness of the Burlington market is an imperative aspect in your house search. I am informed of all the neighborhoods and schools, and I can let you know what neighborhoods are "hot" and demand immediate action and some that are "cool" and allow for more consideration.
When we tour houses, I'll be sure to tell you if the asking price has room for bargaining or if I believe the house is "priced to sell."
Every REALTOR will tell you they comprehend the home market, but beware, and be sure to ask a lot of questions.
If it doesn't seem like they know everything, just call me at (336) 226-9374 or e-mail me at , and I'd be happy to answer any questions you may have. My knowledge of the market will keep you a step ahead through the entire deal.
Step 5 – Find your dream house
We'll find your dream house in the Burlington area, and when that happens, I'll precisely create your home purchase offer. The offer will be tailored to suit your needs and the home, including many contingencies, such as acquiring financing, completing the inspection, and a clean title.
Upon submitting your purchase offer, you'll need to submit "earnest money." This is a cash deposit made to a seller to secure the offer to buy the property and is typically put towards the closing costs. If the seller accepts your offer, we should close about 30 to 60 days after. This allows ample time for your mortgage financing.
Step 6 – Negotiate the deal
Unfortunately most deals don't close 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, propose our own counter offer, or reject the seller's offer and move on.
How aggressively we negotiate the contract depends on market conditions.
We'll also work within your financing limits. And when it's all said and done, we'll formulate a contract that is best for you.
Step 7 – Secure a loan
Once the contract is signed, you'll begin working with your mortgage lender to close the loan.
If you've been pre-approved, it won't be a long process at all, but you'll want to stay in close contact with your lender.
And I'll handle all the property information your mortgage lender needs to close the loan.
Step 8 – Close the deal
You'll get a Loan Estimate (LE) of your closing costs from your mortgage lender within three days of receiving your application.
This estimate is based on the loan amount. RESPA requirements dictate that it has to include all closing costs and fall within a strict range of accuracy, and I'll go over the estimate and let you know if everything looks good.
Then we'll close on your home. This will probably occur at a title company or escrow office and will most likely be a smooth and comfortable event.
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 contact me at (336) 226-9374 or e-mail me at .