Are you purchasing your new home in Landrum?
Purchasing a home intimidates many people. However, with a little planning ahead of time, it isn't very complex.
So they'll understand exactly what they can expect, I'll give buyers an outline of the entire deal.
These 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 glad to answer questions you have about this information.
Step 1 – Prepare to buy a home
Prior to beginning your home search, there are a lot of things you need to do.
You'll most likely want to assemble a list of items you need, get a feeling for what neighborhoods you want to live in, and start planning your budget.
Keeping your mortgage payment around 1/3 of your monthly income is a good guideline to go by.
Step 2 – Contact a real estate agent
This is where Mickey Hambright comes in.
I'd be more than happy to schedule a time to meet with you and communicate with you regarding why you want to buy a home and get an idea of your upcoming plans.
We'll talk about neighborhoods, schools in the Landrum area, the mortgage and housing industries, and any additional economic factors that may potentially affect your buying decision today or in the future.
In addition, I'll help you begin the loan process.
There are some great mortgage professionals in Landrum, and I partner with a lot of them, so you'll be in great hands.
They can assist you in determining which kind of loan is best for you and help you get approved.
Step 3 – Begin looking
After our first meeting, I'll start searching for homes on the market that meet your needs.
I'll research many of the houses and ignore the bad ones, and then we'll schedule appointments to view the homes at a time that's convenient for you.
As we view the homes, I'll show you the good features, as well as negative ones. I'll also ask you to talk about things you like and dislike.
It's common for buyers to change their must-have list as we view homes and some things become more crucial than others.
If that's the situation, I'll look through the listings once again and trim it down to the house you've been wishing for.
Step 4 – Get a grasp of the housing market
My understanding of the Landrum market is a necessary agent in your house search. I'm conscious of all the neighborhoods and schools, and I'll alert you to which districts are "hot" and demand immediate action and the ones that are "cold" and allow for careful examination.
As we tour houses, 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, be careful and make sure you ask lots of questions. Any REALTOR in Landrum will convince you they comprehend the market.
If things don't add up, just call me at 828-817-1796 or e-mail me at , and I'd be happy to answer any questions you may have. My understanding of the market will keep you a step above the rest throughout 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 meticulously develop your home purchase offer. The offer will be made to suit your needs and the home. We'll include a lot of contingencies, such as getting financing, carrying out the home inspection, and a clean title.
When we submit your offer, you'll probably need to submit "earnest money." This is a cash deposit made to a seller to secure the offer to buy the property. The amount is often put towards the closing costs. If the offer is accepted, we should close within 30 to 60 days after. This allows enough time for your mortgage financing.
Step 6 – Negotiate
A lot of deals aren't closed on the first offer – it's very common to receive a counter offer. But don't let this alarm you. We'll consider whether or not to consent to the counter offer, present our own counter offer, or reject the seller's offer and move on.
The state of the market determines how aggressively we negotiate the deal.
We'll also work within your budget. And when it's all said and done, we'll formulate a deal that's best for you.
Step 7 – Obtain your loan
Upon completion of the contract, you'll start working with your lender to close the loan.
If you've been pre-qualified, it won't take long at all. But you should to stay in close contact with your lender.
And I'll deal with all the property information your mortgage lender will need to close the loan.
Step 8 – Close the deal
Your mortgage lender will provide you with a Loan Estimate (LE) of closing costs within three days of taking your loan application. You'll get a Loan Estimate (LE) detailing closing costs from your mortgage lender within three days of getting your loan application.
The estimate rests on the loan amount, and RESPA requirements mandate that it has to involve 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 house. This will most often occur at a title company or escrow office and will likely be a smooth and hassle-free occurrence.
Step 9 – Move in
Congratulations! Now you can move into your new home. Enjoy it. And if you need anything, be sure to contact me at 828-817-1796 or e-mail me at .