Buying your home in Landrum
With some planning ahead of time, buying a home isn't all that confusing, but the event can be stressful for many people.
So they'll understand exactly what they can expect, I'll supply buyers with an outline of the entire deal.
Below are my nine steps to purchasing a home.
Should you have any questions regarding any of this information or if you're prepared to get started, you can contact me here or e-mail me at .
Step 1 – Get ready to buy
There are plenty of things you'll want to take into account prior to beginning your home search.
When you start your search, you'll want to put together an outline of features you want to have, get a feel for what school districts and neighborhoods you want to live in, and begin planning around your budget.
Ensuring your mortgage payment is around 30 percent of your net monthly income is a good rule to adhere to.
Step 2 – Speak with a real estate agent in Landrum
That's where I can help.
We'll arrange a time to get together so we can talk about why you want to buy a home and get an idea of your upcoming plans.
We'll talk about the mortgage and housing industries, other economic factors that may affect your buying decision today or in the future, as well as neighborhoods and school districts in the Landrum area.
I'll also assist you with getting started on your loan.
Mickey Hambright works with some of Landrum's finest mortgage professionals, so you can rest assured that you're in great hands.
They can help you determine which type of loan is best for you, as well as help you get approved.
Step 3 – Begin house-hunting
Following our first meeting, I'll start searching for houses on the market that are a great fit for you.
I'll get a sneak peek of most of the houses and remove the duds, and then we'll set up appointments to tour the houses whenever it's most convenient for you.
As we view the houses, I'll identify good features and negative ones. I'll also ask you what things you like and don't like.
It's pretty common for buyers to change their list of must-haves as we tour houses and some features become more substantial than others.
If such is the case, I'll go back through all the listings again and trim it down to the home of your dreams.
Step 4 – Understand the housing market
My knowledge of the Landrum market is a fundamental agent in your home search. I am informed of all the schools and neighborhoods, and I'll alert you to which districts are "hot" and warrant immediate action and others that are "cold" and allow for more consideration.
As we view homes, I'll make sure to communicate if the seller's asking price has room for negotiation or if I believe the home is "priced to sell."
Any REALTOR will tell you they understand the market, but be mindful, and make sure you ask your agent a lot of questions.
If things don't add up, contact me at 828-817-1796 or e-mail me at , and I'd be glad to answer any questions you have. My market expertise will help you stay a step above the rest through the entire deal.
Step 5 – Find the house you've been looking for
We'll find the home of your dreams in Landrum, and when we do, I'll precisely develop your real estate purchase offer. The offer will be tailored keeping your needs in mind and the home, including many contingencies, such as acquiring financing, completing the inspection, and a clear title.
When sending in your purchase offer, you'll need to submit "earnest money." This is a cash deposit made to a home seller to secure the offer to buy the property and is often put towards the closing costs. If your offer is accepted by the seller, we should close about 30 to 60 days after. This allows necessary time for your mortgage financing.
Step 6 – Negotiate
Most deals aren't closed on the first offer. It's widely common to receive a counter offer. Don't let this discourage you. We'll consider whether or not to consent to the counter offer, present our own counter offer, or decline the seller's offer and move on.
Market circumstances will play a role in how aggressively we negotiate the contract.
We'll also work within your financing constraints. And when it's all said and done, we'll formulate a deal that works well for you.
Step 7 – Secure your loan
Once the deal is finished, you'll begin working with your lender to close the loan.
If you've been pre-qualified, it shouldn't take long at all. But you need to keep in close contact with your mortgage lender.
And I'll look after 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) detailing closing costs within three days of getting your application. You'll get a Loan Estimate (LE) outlining your closing costs from your mortgage lender within three days of receiving your loan application.
This estimate is based on the loan amount, and RESPA requirements require that it has to involve all closing costs and be within a narrow range of accuracy. I'll review the estimate and let you know if everything looks adequate.
Then we'll close on your home. This will most often happen at a title company or escrow office and is often a smooth and relaxed occasion.
Step 9 – Move in
Congratulations! Now you can move into your new house. Enjoy it. And if you need anything, simply contact me at 828-817-1796 or e-mail me at .