Buying a new home in Burlington

Purchasing a home intimidates many people, but with some planning ahead of time, it isn't too complex. So they understand exactly what to expect, I will give buyers a road map of the whole deal. These are my nine steps to purchasing a home. If you have questions about 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 a lot of things you should contemplate prior to starting your home search. It's likely that you'll want to make an index of features you need, get a feeling for what neighborhoods you want to live in, and begin planning around your budget. A good rule to adhere to is that your mortgage payment should be no more than 1/3 of your net monthly income.

Step 2 – Speak with a real estate agent in Burlington
This is where I come in. I'd like to arrange a time to meet with you and speak with you about why you want to buy a home and get an idea of your plans for the future. We'll discuss the mortgage and housing industries, other economic factors that may potentially affect your buying decision today or in the future, as well as neighborhoods and school districts in the Burlington area.

In addition, I'll assist you with getting started on your loan. There are some great mortgage professionals in Burlington, and I work with a lot of them, so you'll be in great hands. They'll help you figure out which kind of loan is best for you, as well as help you get approved.

Step 3 – Start looking for a house
After our initial meeting, I'll begin looking for available houses on the market that are a good fit for you. I'll preview many of the homes and remove the bad ones, and then we'll set up appointments to tour the homes when it's convenient for you.

When we tour the homes, I'll show you the good features and bad ones. And I'll ask you what things you like and dislike. Most often, buyers revise their list of must-haves as we view homes and some things become far more crucial than others. If that's the case, I'll look through the listings again and narrow it down to the home you've been waiting for.

Step 4 – Know the market
An agent's awareness of the Burlington market is an essential element in your home search. And I can assure you I'm familiar with all the schools and neighborhoods, and I will communicate certain neighborhoods are "hot" and require immediate action and some that are "cool" and allow for more examination.

When we view homes, I'll make sure to communicate when the asking price has room for bargaining and when I know the home is "priced to sell." When working with an agent, be on guard and make sure you ask plenty of questions, as every real estate agent in Burlington will convince you they understand the home market. If it doesn't seem like they know everything, contact me at (336) 226-9374 or e-mail me at , and I'll be happy to answer your questions. My market knowledge will help you stay a step ahead through the entire process.

Step 5 – Find the house you've been looking for
I know we'll find the house of your dreams in Burlington. When that happens, I'll thoroughly develop your home purchase offer. The offer will be tailored to suit your needs and the home, including many contingencies. A few examples are acquiring financing, carrying out the home inspection, and a clean title.

Upon sending in your offer, you'll need to present "earnest money." This is a cash deposit given to the home seller to secure the offer to purchase the property, and it's most often put towards the cost of closing. If the offer is accepted by the seller, we should close within 30 to 60 days afterward. This allows enough time for your mortgage financing.

Step 6 – Negotiate the deal
Unfortunately most contracts aren't closed on the beginning offer, and it's pretty common to receive a counter offer. But don't let it intimidate you. We'll figure out whether or not to consent to the counter offer, propose our own counter offer, or refuse the seller's offer and go on.

The state of the market will play a large role in how aggressively we negotiate the contract. In addition, we'll work within your financing limits. And when it's all said and done, we'll put together a deal that is best for you.

Step 7 – Get financing
After the deal is finalized, you'll start working with your lender to close the loan. This won't take very long at all if you've been pre-qualified, but you should to keep in close contact with your mortgage lender. And I'll sort out all the property information your lender needs to close the loan.

Step 8 – Close the deal
Your lender will give you a Loan Estimate (LE) detailing your closing costs within three days of accepting your loan application. You'll get a Loan Estimate (LE) detailing closing costs from your lender within three days of accepting your loan application. The estimate is formed from the loan amount, and RESPA requirements require that it has to contain all closing costs and be within a strict range of accuracy. I'll examine the estimate and let you know if everything looks okay.

Then it's time to close on your home. This will probably occur at a title company or escrow office and will most often be a smooth and pleasant occasion.

Step 9 – Move in
Congratulations! It's time to move into your new home. Enjoy it. And if you have any questions, simply call me at (336) 226-9374 or e-mail me at .

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