Buying your home in Burlington with David Massey Real Estate
With some planning ahead of time, buying a home isn't that hard, but the event is stressful for many people.
So they understand exactly what to expect, I like to furnish buyers with an overview of the entire deal.
Below are my nine steps to buying a home.
When you're ready to get started, simply contact me here or e-mail me at . I'm happy to answer any questions you have about this information.
Step 1 – Prepare to purchase
There are plenty of things you'll want to take into account before you start looking for a home.
You'll probably want to make a checklist of features you want, get a plan of what neighborhoods and school districts you'd like to live in, and begin working on your budget.
Ensuring your mortgage payment is around 1/3 of your net monthly income is a good rule of thumb to follow.
Step 2 – Get in touch with a real estate agent
That's where I can help.
I'd like to schedule a time to get together 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 everything from neighborhoods, schools in the Burlington area, the mortgage industry, to any other economic factors that could potentially affect your buying decision today or in the future.
In addition, I'll help you start the loan process.
I partner with some of the best mortgage professionals in Burlington, so you'll be in great hands.
They can assist you in figuring out which kind of loan is best for you and help you get approved.
Step 3 – Start looking for a home
After our first meeting, I'll begin finding homes on the market that suit your needs.
I'll research most of the homes and remove the duds, and then we'll set up appointments to view the homes at a time that's convenient for you.
As we tour the homes, I'll call attention to good features, as well as negative ones. I'll even ask you about things you like and don't like.
It's pretty common for buyers to revise their must-have list as we tour houses and some features become more important than others.
If that happens, I'll search all the listings once again and narrow it down to the home you've been wishing for.
Step 4 – Get a grasp of the market
Your agent's understanding of the Burlington housing market is a fundamental factor in your home search. And I assure you I'm acquainted with all the school districts and neighborhoods, and I will communicate what neighborhoods are "hot" and call for immediate action and the ones that are "cool" and allow for thoughtful examination.
When we tour houses, I'll be sure to tell you if the seller's asking price has room for bargaining or if I believe the home is "priced to sell."
When working with an agent, trust your instincts and be sure to ask plenty of questions, as any real estate agent will convince you they comprehend the home market.
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 your questions. My understanding of the market will help you stay a step above the rest throughout 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 meticulously create your real estate purchase offer. The offer will be tailored with your needs in mind and the home, including several contingencies. A few examples are obtaining financing, finishing the inspection, and a clear title.
When turning in your purchase offer, you'll likely need to present "earnest money." This is a cash deposit submitted to the seller to secure an offer to buy the property and is usually put towards the closing costs. If the offer is accepted, we should close on the home about 30 to 60 days after. This allows enough time for your mortgage financing.
Step 6 – Negotiate
Unfortunately most deals aren't closed on the first offer, and it's very common to receive a counter offer. But don't let this alarm you. We'll figure out whether or not to accept 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 the state of the market.
We'll also work within your financing limits. And when it's all said and done, we'll compose a deal that works well for you.
Step 7 – Get financing
Upon completion of the contract, you'll begin working with your mortgage lender to close the loan.
This won't take very long at all if you're already pre-approved, but you should to stay in close contact with your lender.
And I'll take care of 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 closing costs from your lender within three days of accepting your application.
The estimate rests on the loan amount. RESPA requirements order that it has to contain all closing costs and fall within a close range of accuracy, and I'll go over the estimate and let you know if it all looks all right.
Then we'll close on your home. This will likely occur at a title company or escrow office and should be a smooth and stress-free affair.
Step 9 – Move in
Congratulations! It's time to move into your new house. Enjoy it. And if you have any questions, simply call me at (336) 226-9374 or e-mail me at .