Buying or selling a home in Landrum?
With a little up-front planning, purchasing a home isn't very difficult, but the event can be stressful for many people.
I like to give buyers an overview of the entire deal so they'll understand exactly what they can expect.
Below are my nine steps to purchasing a home.
When you're ready to get started, just contact me here or e-mail me at . I'm glad to answer any questions you have about this information.
Step 1 – Prepare to purchase a home
There are several things you'll want to contemplate prior to commencing your home search.
When you start your search, you'll want to put together a check list of items you want, get a feeling for what neighborhoods and school districts you want to live in, and begin working on your budget.
Ensuring your mortgage payment is no more than 1/3 of your net monthly income is a good principle to follow.
Step 2 – Get in touch with a real estate agent in Landrum
That's where I can help.
I'd be happy to plan a time to meet with you and communicate with you regarding why you want to buy a home and get an idea of your future plans.
We'll discuss the mortgage and housing industries, other economic factors that could affect your buying decision today or in the future, as well as neighborhoods and school districts in the Landrum area.
I can also assist you in getting started on your loan.
There are some very good mortgage professionals in Landrum, and I work with a lot of them, so you're in great hands.
They will assist you with determining which kind of loan is best for you and help you get qualified.
Step 3 – Start your search
After our first meeting, I'll start searching for available houses on the market that are great for you.
I'll research most of the homes and eliminate the duds, and then we'll set up appointments to view the homes whenever it's convenient for you.
When we view houses, I'll show you the positive features, as well as negative ones. I'll even ask you what things you like and dislike.
It's common for buyers to update their must-have list as we view homes and some features become far more important than others.
If that's the case, I'll go back through the listings once again and trim it down to the house you've been wishing for.
Step 4 – Comprehend the housing market
An agent's knowledge of the Landrum home market is a fundamental agent in your home search. And I can assure you I'm conscious of all the school districts and neighborhoods, and I can alert you to certain neighborhoods are "hot" and warrant immediate action and the ones that are "cold" and allow for thoughtful examination.
As we view houses, I'll let you know if the list price has room for negotiation or if I believe the house 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 understand the housing market.
If it doesn't seem like they know everything, call me at 828-817-1796 or e-mail me at , and I'll be happy to answer any questions you might have. My market knowledge will help you stay a step ahead through the entire deal.
Step 5 – Find your dream house
We'll find your dream house in Landrum, and when we do, I'll meticulously develop your home purchase offer. The offer will be tailored exactly to your needs and the home, including some contingencies, such as getting financing, completing the home inspection, and a clear title.
When we present your purchase offer, you'll need to present "earnest money." This is a cash deposit given to a home seller to secure the offer to buy the property. The amount is usually applied to the cost of closing. If your offer is accepted, we should close on the property within 30 to 60 days after. This allows ample time for your mortgage financing.
Step 6 – Negotiate the deal
Most deals aren't closed on the initial offer. It's very common to receive a counter offer. But don't let this discourage you. We'll consider whether or not to consent to the counter offer, present our own counter offer, or refuse the seller's offer and move on.
Market conditions will play a vital role in how aggressively we negotiate the deal.
In addition, we'll work within your financing budget. And at the end of the day, we'll assemble a deal that is best for you.
Step 7 – Obtain your loan
After we sign the final contract, you'll begin working with your mortgage lender to close the loan.
If you're already pre-qualified, this won't be a long process at all. But you should to stay in close contact with your mortgage lender.
And I'll look after all the property information your mortgage lender will need to close the loan.
Step 8 – Close the deal
You'll get a Loan Estimate (LE) detailing your closing costs from your lender within three days of receiving your application.
The estimate depends on the loan amount. RESPA requirements require that it has to involve all closing costs and fall within a strict range of accuracy, and I'll study the estimate and let you know if everything looks okay.
Then we'll close on your house. This will probably occur at a title company or escrow office and will most often be a smooth and peaceful affair.
Step 9 – Move in
Congratulations! Now you can move into your new home. Enjoy it. And if you have any questions, be sure to call me at 828-817-1796 or e-mail me at .