Buying or selling a home? David Johnson can help.
Buying a home is a stressful event for many people, but it isn't all that complicated with a little planning ahead of time.
So you'll understand exactly what to expect, I like to give my buyers an overview of the entire deal.
These are my nine steps to buying a home.
If you have questions about any of this information or if you're ready to get started, simply contact me here or send e-mail to firstname.lastname@example.org
Step 1 – Get ready to purchase a home
Before you begin your home search, there are a lot of things you should contemplate.
You'll want to form a list of features you need to have, get a feeling for what school districts you want to live in, and begin planning your budget.
Ensuring your mortgage payment is less than or around 1/3 of your net monthly income is a good rule to follow.
Step 2 – Talk to a real estate agent in Raleigh
This is where I can help.
I'll plan a time to get together so we can talk about your real estate needs and get an idea of your upcoming plans.
We'll talk about neighborhoods, schools in the Raleigh area, the mortgage and housing industries, and any other economic factors that could affect your buying decision today or in the future.
In addition, I'll help you get started on your loan.
There are some great mortgage professionals in Raleigh, and I partner with a lot of them, so you're in great hands.
They can help you decide which kind of loan is best for you, as well as help you get approved.
Step 3 – Start your search
After our initial meeting, I'll begin looking for homes on the market that are a good fit for you.
I'll get a sneak peek of many of the homes and exclude the duds, and then we'll book appointments to tour the houses whenever it's most convenient for you.
As we view the homes, I'll identify good features and bad ones. And I'll ask you to talk about things you like and don't like.
Usually, buyers amend their wish list as we view homes and some features become far more necessary than others.
If that's the case, I'll search the listings once more and trim it down to the home you've been dreaming about.
Step 4 – Know the market
My knowledge of the Raleigh market is a fundamental resource in your search. I am familiar with all the neighborhoods and school districts, and I'll let you know which neighborhoods are "hot" and call for immediate action and the rest that are "cold" and allow for careful consideration.
As we tour homes, I'll let you know if the asking price has room for bargaining or if I believe the home is "priced to sell."
When working with an agent, be on guard and be sure to ask lots of questions, as every real estate agent will claim to comprehend the home market.
If things don't add up, call me at 919-833-6157 or e-mail me at email@example.com, and I'll be happy to answer any questions you have. My understanding of the market will help you stay a step above the rest through the entire deal.
Step 5 – Find the home you've been looking for
I'm confident we'll find the home of your dreams in Raleigh. When that happens, I'll precisely develop your purchase offer. The offer will be tailored with your needs in mind, including some contingencies. A few examples are obtaining financing, completing the inspection, and a clean title.
When we send in your offer, you'll need to submit "earnest money." This is a cash deposit submitted to a seller to secure an offer to buy the property, and it's typically applied to the cost of closing. If your offer is accepted, we should close on the property about 30 to 60 days afterward. This allows necessary time for your mortgage financing.
Step 6 – Negotiate
A lot of contracts don't close on the first offer, and it's really common to receive a counter offer. But don't let this intimidate you. We'll talk about whether or not to accept the counter offer, submit our own counter offer, or decline the seller's offer and move on.
Market conditions determine 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 works well for you.
Step 7 – Obtain financing
Upon signing the deal, you'll begin working with your lender to close the loan.
If you've been pre-qualified, this shouldn't take long at all, but you should to keep in close contact with your lender.
And I'll sort out all the property information your 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 accepting your loan application.
The estimate is formed from the loan amount, and RESPA requirements require that it has to involve all closing costs and fall within a strict range of accuracy. I'll review the estimate and let you know if everything looks okay.
Then it's time to close on your home. This will most often happen at a title company or escrow office and will most likely be a smooth and relaxing occurrence.
Step 9 – Move in
Congratulations! Now you can move into your new house. Enjoy it. And if you need anything, simply call me at 919-833-6157 or send me an e-mail.