Are you purchasing your new home in Fayetteville? Premier Investment Team can help.
Buying a home intimidates most people, but with a little planning ahead of time, it's not that complex.
So they know exactly what they can expect, I'll furnish buyers with an overview of the whole deal.
Here are my nine steps to buying a home.
If you have any questions regarding any of this information or if you're prepared to get started, simply contact me here or e-mail me at .
Step 1 – Prepare to buy a home
Before you start your home search, there are several things you need to consider.
It's likely that you'll want to create a checklist of features you need, get a plan of what school districts and neighborhoods you want to live in, and begin planning around your budget.
Ensuring your mortgage payment is less than 30 percent of your net monthly income is a good principle to adhere to.
Step 2 – Connect with a real estate agent
This is where Premier Investment Team comes in.
We'll arrange a time to get together so we can talk about your real estate needs and get an idea of your plans for the future.
We'll talk about the mortgage industry, other economic factors that might affect your purchase today or in the future, as well as neighborhoods and school districts in the Fayetteville area.
I'll also help you begin the loan process.
There are some great mortgage professionals in Fayetteville, and I partner with a lot of them, so you're in great hands.
They'll help you choose which type of loan is best for you, as well as help you get qualified.
Step 3 – Start house-hunting
After we meet for the first time, I'll start looking for homes on the market that are good for you.
I'll preview most of the houses and remove the duds, and then we'll book appointments to view the houses when it's most convenient for you.
As we view the houses, I'll show you the positive features, as well as negative ones. I'll also ask you to tell us about things you like and dislike.
For the most part, buyers revise their wish list as we view homes and some features become more necessary than others.
If that's the situation, I'll go back through all the listings again and narrow it down to the home of your dreams.
Step 4 – Get a grasp of the housing market
My awareness of the Fayetteville market is a necessary element in your home search. I am mindful of all the school districts and neighborhoods, and I will let you know certain areas are "hot" and require immediate action and some that are "cool" and allow for thoughtful examination.
As we tour homes, I'll let you know if the list price has room for negotiation or if I believe the home is "priced to sell."
When working with an agent, trust your instincts and make sure you ask lots of questions, as every REALTOR will claim to understand the market.
If it appears they don't know everything, contact me at (910) 354-2628 or e-mail me at , 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 throughout the entire deal.
Step 5 – Find the house you've been waiting for
I'm sure we'll find the house of your dreams in Fayetteville. When we do, I'll precisely develop your real estate purchase offer. The offer will be tailored with your needs in mind and the home, including some contingencies. A few examples are acquiring financing, carrying out the inspection, and a clear title.
Upon turning in your offer, most likely you'll want to submit "earnest money." This is a cash deposit submitted to the home seller to secure the offer to buy the property, and it's typically put towards the closing costs. If the seller accepts the offer, we should close within 30 to 60 days afterward. This allows plenty of time for your mortgage financing.
Step 6 – Negotiate the deal
Most contracts don't close on the first offer – it's pretty common to receive a counter offer. Don't let it intimidate you. We'll talk about whether or not to accept the counter offer, present our own counter offer, or decline 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 constraints. And at the end of the day, we'll compose a contract that works well for you.
Step 7 – Obtain your loan
Once we sign the final contract, you'll start working with your lender to close the loan.
If you're already pre-approved, this won't take long at all, but you should to stay in close contact with your mortgage lender.
And I'll handle all the property information your lender needs to close the loan.
Step 8 – Close the deal
Your lender will send you a Loan Estimate (LE) of your closing costs within three days of taking your loan application. You'll get a Loan Estimate (LE) outlining your closing costs from your mortgage lender within three days of getting your loan application.
The estimate is formed from the loan amount. RESPA requirements mandate that it has to involve all closing costs and be within a strict range of accuracy, and I'll examine 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 will likely be a smooth and comfortable 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, be sure to contact me at (910) 354-2628 or e-mail me at .