Are you looking to buy your new home in Burlington? David Massey Real Estate can help.
For many people, buying a home can be a stressful event. However, with some planning ahead of time, it's not too hard.
So they'll know exactly what to expect, I'll supply buyers with an overview of the whole deal.
Below are my nine steps to buying a home.
Should you have any 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
Prior to beginning your home search, there are a lot of things you'll want to consider.
You'll probably want to assemble an outline of items you want to have, get an idea of what school districts and neighborhoods you want to live in, and begin working on your budget.
A good guideline to go by is that your mortgage payment should be less than or close to 1/3 of your net monthly income.
Step 2 – Contact a real estate agent in Burlington
That's where I come in.
I'd like to book a time to get together with you and talk about your real estate needs and get an idea of your upcoming plans.
We'll discuss everything from neighborhoods, schools 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.
In addition, I'll assist you with getting started on your loan.
There are some excellent mortgage professionals in Burlington, and I work with a lot of them, so you can rest assured that you're in great hands.
They'll help you decide which kind of loan is best for you, as well as help you get qualified.
Step 3 – Begin looking for a home
After we meet, I'll start looking for homes on the market that are good for you.
I'll get a sneak peek of most of the homes and reject the bad ones, and then we'll schedule appointments to tour the houses at a time that's convenient for you.
When we tour homes, I'll call attention to positive features, as well as negative ones. And I'll ask you to tell us about things you like and dislike.
For the most part, buyers change their list of must-haves as we view houses and some features become far more crucial than others.
If that's the case, I'll look through the listings another time and narrow it down to the home you've been wishing for.
Step 4 – Understand the market
My awareness of the Burlington housing market is a necessary element in your house search. I'm mindful of all the neighborhoods and schools, and I will let you know certain areas are "hot" and require prompt action and some that are "cool" and allow for more analysis.
As we tour homes, I'll let you know if the list price has room for negotiation or if I believe the house is "priced to sell."
When working with an agent, be careful and be sure to ask a lot of questions. Any REALTOR in Burlington will convince you they truly know the home market.
If it appears they don't know everything, call me at (336) 226-9374 or e-mail me at , and I'll be glad to answer any questions you might have. My market knowledge will help you stay a step above the rest through the entire process.
Step 5 – Find the house of your dreams
I'm certain we'll find your dream house in Burlington. When we do, I'll carefully develop your real estate purchase offer. The offer will be tailored to suit your needs and the home, including a lot of contingencies, such as getting financing, finishing the home inspection, and a clean title.
Upon presenting your offer, you'll want to submit "earnest money." This is a cash deposit submitted to the home seller to secure an offer to purchase the property, and it's often put towards the closing costs. If your offer is accepted by the seller, we should close on the property within 30 to 60 days afterward. This allows sufficient time for your mortgage financing.
Step 6 – Negotiate the deal
A lot of deals don't close on the first offer. It's very common to receive a counter offer. Don't let it intimidate you. We'll consider whether or not to agree to the counter offer, submit our own counter offer, or reject the seller's offer and move on.
Market circumstances will play a part in how aggressively we negotiate the deal.
We'll also work within your financing budget. And at the end of the day, we'll assemble a contract that is best for you.
Step 7 – Secure your loan
Upon completion of the deal, you'll begin working with your lender to close the loan.
It shouldn't take very long at all if you're pre-approved, but you need to stay in close contact with your lender.
And I'll manage 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 mortgage lender within three days of receiving your loan application.
The estimate is formed from the loan amount. RESPA requirements order that it has to involve all closing costs and fall within a narrow range of accuracy, and I'll review the estimate and let you know if everything looks good.
Then it's time to close on your house. This will probably happen at a title company or escrow office and is often a smooth and stress-free occasion.
Step 9 – Move in
Congratulations! It's time to move into your new home. Enjoy it. And if you need anything or have any questions, simply call me at (336) 226-9374 or e-mail me at .