Let David Massey Real Estate assist you with buying your new home in Burlington
Buying a home intimidates most people, but with some planning ahead of time, it's not too confusing.
I like to furnish buyers with a road map of the whole deal so they'll know exactly what to expect.
Here are my nine steps to purchasing a home.
If you have any questions about this information or if you're prepared to get started, just contact me here or e-mail me at .
Step 1 – Prepare to purchase a home
Prior to starting your home search, there are a lot of things you'll want to consider.
When you begin your search, you'll probably want to create an outline of features you want, plan for what school districts and neighborhoods you'd like to live in, and start planning around your budget.
Keeping your mortgage payment less than or around 30 percent of your net monthly income is a good rule to adhere to.
Step 2 – Communicate with a real estate agent in Burlington
This is where David Massey Real Estate can help.
I'd be more than happy to book a time to meet with you and talk about your real estate needs and get an idea of your plans for the future.
We'll discuss neighborhoods, schools in the Burlington area, the mortgage industry, and any additional economic factors that could affect your purchase today or in the future.
In addition, I'll assist you with getting started on your loan.
David Massey Real Estate works with some of Burlington's best mortgage professionals, so you'll be in great hands.
They can help you figure out which kind of loan is best for you, as well as help you get qualified.
Step 3 – Begin looking
After our first meeting, I'll begin finding houses on the market that best suit you.
I'll preview many of the houses and ignore the duds, and then we'll schedule appointments to tour the homes when it's most convenient for you.
As we tour the homes, I'll point out positive features and negative ones. I'll even ask you to point out what things you like and dislike.
Usually, buyers change their wish list as we tour homes and some items become more important than others.
If that's the case, I'll search the listings once again and trim it down to the house you've been waiting for.
Step 4 – Get a grasp of the housing market
My awareness of the Burlington home market is a fundamental element in your house search. I am mindful of all the neighborhoods and school districts, and I can communicate what districts are "hot" and require immediate action and the ones that are "cool" and allow for more consideration.
When we tour houses, I'll let you know when the seller's asking price has room for bargaining and also when I think the home is "priced to sell."
When working with an agent, be on guard and make sure you ask lots of questions. Every REALTOR will convince you they truly know the housing market.
If things don't add up, just call me at (336) 226-9374 or e-mail me at , and I'd be glad to answer any questions you have. My knowledge of the market will help you stay a step ahead through the entire deal.
Step 5 – Find the home you've been waiting for
I'm sure we'll find the home of your dreams in Burlington. When that happens, I'll precisely create your home purchase offer. The offer will be tailored with your needs in mind and the home, including a lot of contingencies, such as obtaining financing, finishing the home inspection, and a clear title.
Upon turning in your purchase offer, you'll need to submit "earnest money." This is a cash deposit made to a seller to secure an offer to buy the property and is typically put towards the cost of closing. If the seller accepts your offer, we should close on the property about 30 to 60 days after. This allows necessary time for your mortgage financing.
Step 6 – Negotiate the deal
Unfortunately most contracts aren't closed on the beginning offer. It's really common to receive a counter offer. Don't let this intimidate you. We'll consider whether or not to accept the counter offer, submit our own counter offer, or reject the seller's offer and go on.
How aggressively we negotiate the deal depends on the state of the market.
We'll also work within your budget. And when it's all said and done, we'll compose a contract that works well for you.
Step 7 – Obtain your loan
Once the contract is finished, you'll begin working with your mortgage lender to close the loan.
If you're pre-qualified, it won't take much time at all. But you should to stay in close contact with your mortgage lender.
And I'll care for all the property information your lender needs to close the loan.
Step 8 – Close the deal
Your lender will furnish you with a Loan Estimate (LE) of closing costs within three days of getting your loan application. You'll get a Loan Estimate (LE) outlining your closing costs from your lender within three days of taking your loan application.
This estimate rests on the loan amount, and RESPA requirements require that it has to contain all closing costs and fall within a narrow range of accuracy. I'll go over the estimate and let you know if everything looks adequate.
Then we'll close on your house. This will probably occur at a title company or escrow office and should be a smooth and relaxed occasion.
Step 9 – Move in
Congratulations! Now you can 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 .