Buying or selling a home in Burlington?
Purchasing a home is an intimidating event for many people, but it's not too confusing with some planning ahead of time.
So they'll know exactly what they can expect, I like to supply buyers with a road map of the entire deal.
Below are my nine steps to buying a home.
Should you have any questions regarding any of this information or if you're ready to get started, you can contact me here or e-mail me at .
Step 1 – Prepare to purchase a home
There are many things you should contemplate before you start searching for a home.
You'll most likely want to assemble an outline of features you need, get an idea of what school districts 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 close to 30 percent of your monthly income.
Step 2 – Connect with a real estate agent
That's where I come in.
I'd love to arrange a time to get together with you and communicate with you regarding your real estate needs and get an idea of your upcoming plans.
We'll discuss neighborhoods, schools in the Burlington area, the mortgage industry, and any other economic factors that may affect your purchase today or in the future.
I can also help you get started on your loan.
There are some great mortgage professionals in Burlington, and I partner with a lot of them, so you can rest assured that you're in great hands.
They can assist you with choosing which kind of loan is best for you and help you get approved.
Step 3 – Start looking
Following our first meeting, I'll start finding houses on the market that are a great fit for you.
I'll preview most of the houses and throw out the duds, and then we'll schedule appointments to view the houses when it's most convenient for you.
When we tour homes, I'll identify good features and bad ones. I'll even ask you to tell us about things you like and don't like.
For the most part, buyers change their list of must-haves as we tour houses and some things become more necessary than others.
If such is the case, I'll go back through the listings one more time and narrow it down to the house you've been waiting for.
Step 4 – Understand the market
An agent's understanding of the Burlington home market is a necessary aspect in your home search. And I assure you I'm acquainted with all the school districts and neighborhoods, and I can communicate certain areas are "hot" and demand prompt action and some that are "cold" and allow for more consideration.
As we tour homes, I'll make sure to communicate when the seller's asking price has room for negotiation and also when I know the house is "priced to sell."
When working with an agent, be on guard and make sure you ask a lot of questions, as any REALTOR in Burlington will convince you they understand the housing market.
If it seems like they don't know everything, contact me at (336) 226-9374 or e-mail me at , and I'd be happy to answer any questions you may have. My market expertise will help you stay a step ahead through the entire process.
Step 5 – Find the house you've been looking for
We'll find the house of your dreams in Burlington, and when that happens, I'll precisely create your real estate purchase offer. The offer will be tailored keeping your needs in mind and the home, including some contingencies, such as getting financing, completing the home inspection, and a clean title.
When we present your purchase offer, you'll need to present "earnest money." This is a cash deposit made to the home seller to secure the offer to buy the property, and it's most often put towards the cost of closing. If the seller accepts the offer, we should close within 30 to 60 days after. This allows ample time for your mortgage financing.
Step 6 – Negotiate
A lot of deals don't close on the initial offer. It's really common to receive a counter offer. But don't let this intimidate you. We'll consider whether or not to agree to the counter offer, present our own counter offer, or reject the seller's offer and move on.
Market conditions determine how aggressively we negotiate the contract.
In addition, we'll work within your financing constraints. And at the end of the day, we'll formulate a contract that is best for you.
Step 7 – Secure financing
After the contract is signed, you'll begin working with your lender to close the loan.
If you're already pre-approved, this shouldn't take much time at all, but you'll need to keep 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) detailing closing costs from your lender within three days of getting your application.
This estimate is based on the loan amount, and RESPA requirements require that it has to contain all closing costs and fall within a strict range of accuracy. I'll study the estimate and let you know if it all looks adequate.
Then it's time to close on your home. This will most likely take place at a title company or escrow office and is often a smooth and easygoing occurrence.
Step 9 – Move in
Congratulations! Now you can move into your new house. Enjoy it. And if you have any questions, just call me at (336) 226-9374 or e-mail me at .