Looking to buy your home in Landrum? Mickey Hambright can help.
Buying a home is intimidating for many people. However, with a bit of planning ahead of time, it isn't very complex.
I like to give buyers an outline of the whole deal so they'll know exactly what they can expect.
Below are my nine steps to purchasing a home.
When you're ready to get started, simply contact me here or e-mail me at . I'm happy to address any questions you have about this information.
Step 1 – Get ready to purchase
There are plenty of things you should contemplate prior to beginning your home search.
You'll probably want to put together a list of features you need, get a feel for what school districts and neighborhoods you'd like to live in, and start working on your budget.
A good rule to adhere to is that your mortgage payment should be 1/3 of your net monthly income.
Step 2 – Speak with a real estate agent in Landrum
This is where Mickey Hambright comes in.
I'd love to schedule a time to meet with you and speak with you regarding your real estate needs and get an idea of your upcoming plans.
We'll talk about neighborhoods, school districts in the Landrum area, the mortgage and housing industries, and any additional economic factors that may potentially affect your purchase today or in the future.
I can also help you facilitate the loan process.
Mickey Hambright partners with some of the best mortgage professionals in Landrum, so you'll be in great hands.
They'll assist you with deciding which type of loan is best for you and help you get approved.
Step 3 – Begin looking for a home
After our first meeting, I'll begin finding houses on the market that are a good fit for you.
I'll get a sneak peek of many of the homes and throw out the duds, and then we'll set up appointments to view the homes when it's convenient for you.
When we tour the homes, I'll identify good features and negative ones. I'll also ask you to talk about things you like and dislike.
For the most part, buyers update their must-have list as we tour houses and some features become far more substantial than others.
If that's the situation, I'll search all the listings again and trim it down to the home you've been waiting for.
Step 4 – Know the housing market
My awareness of the Landrum housing market is a necessary component in your house search. I am acquainted with all the school districts and neighborhoods, and I'll let you know certain areas are "hot" and demand prompt action and some that are "cold" and allow for more consideration.
As we view houses, I'll make sure to communicate if the seller's list price has room for negotiation or if I believe the home is "priced to sell."
Any real estate agent in Landrum will tell you they know the market, but be careful, and be sure to ask your agent a lot of questions.
If it seems like they don't know everything, contact me at 828-817-1796 or e-mail me at , and I'll be happy to answer your questions. My understanding of the market will help you stay a step ahead through the entire deal.
Step 5 – Find the house of your dreams
We'll find your dream house in the Landrum area, and when we do, I'll precisely create your home purchase offer. The offer will be tailored to suit your needs and the home, including a lot of contingencies. A few examples are acquiring financing, finishing the inspection, and a clean title.
Upon submitting your offer, most likely you'll need to submit "earnest money." This is a cash deposit made to the home seller to secure the offer to buy the property, and it's most often put towards the closing costs. If the offer is accepted by the seller, we should close on the home within 30 to 60 days after. This allows ample time for your mortgage financing.
Step 6 – Negotiate
Unfortunately most contracts don't close on the initial offer. It's pretty common to receive a counter offer. But don't let this discourage you. We'll figure out whether or not to agree to the counter offer, submit our own counter offer, or decline the seller's offer and move on.
The state of the market determines how aggressively we negotiate the contract.
In addition, we'll work within your financing budget. And when it's all said and done, we'll compose a deal that is best for you.
Step 7 – Secure financing
After we sign the final contract, you'll start working with your lender to close the loan.
If you've been pre-approved, this shouldn't take much time at all. But you need to keep in close contact with your mortgage lender.
And I'll manage all the property information your mortgage lender needs to close the loan.
Step 8 – Close the deal
Your lender will give you a Loan Estimate (LE) detailing closing costs within three days of getting your loan application. You'll get a Loan Estimate (LE) detailing closing costs from your mortgage lender within three days of getting your application.
This estimate depends on the loan amount. RESPA requirements require that it has to include all closing costs and fall within a precise range of accuracy, and I'll study the estimate and let you know if everything looks okay.
Then it's time to close on your house. This should occur at a title company or escrow office and will most often be a smooth and hassle-free occasion.
Step 9 – Move in
Congratulations! Now you can move into your new home. Enjoy it. And if you need anything or have any questions, make sure you contact me at 828-817-1796 or e-mail me at .