Buying or selling a home? GM Williams Realty can help.
Buying a home is stressful for a lot of people, but with a little up-front planning, it isn't too complex.
So they understand exactly what to expect, I like to furnish buyers with an overview of the whole deal.
Here are my nine steps to buying a home.
If you have questions regarding any of this information or if you're ready to get started, simply contact me here 336-528-5561or e-mail me at firstname.lastname@example.org .
Step 1 – Prepare to buy a home
Before you start looking for a home, there are many things you should do.
You'll want to make a checklist of items you need, get a plan of what neighborhoods you'd like to live in, and begin working on your budget.
Ensuring your mortgage payment is less than a third of your net monthly income is a good rule to go by.
Step 2 – Talk to a real estate agent
That's where I come in.
I'd be more than happy to book a time to get together with you and speak with you about your real estate needs and get an idea of your future plans.
We'll discuss the mortgage industry, other economic factors that could affect your buying decision today or in the future, as well as neighborhoods and school districts in the Piedmont Triad area.
I'll also help you start the loan process.
There are some very good mortgage professionals in the Triad, and I work with a lot of them, so you're in great hands.
They'll assist you in deciding which kind of loan is best for you and help you get approved.
Step 3 – Begin house hunting
After we meet for the first time, I'll begin finding homes on the market that suit your needs.
I'll preview most of the homes and exclude the duds, and then we'll schedule appointments to tour the homes at a time that's convenient for you.
When we tour homes, I'll identify good features, as well as negative ones. I'll also ask you what things you like and don't like.
Frequently, buyers change their list of must-haves as we tour houses and some features become more necessary than others.
If that's the case, I'll look through all the listings once again and trim it down to the house you've been waiting for.
Step 4 – Comprehend the market
An agent's awareness of the Triad home market is an essential agent in your house search. And I assure you I'm acquainted with all the neighborhoods and school districts, and I'll communicate what neighborhoods are "hot" and require immediate action and others that are "cool" and allow for more examination.
As we view houses, I'll make sure to communicate if the asking price has room for negotiation or if I believe the home is "priced to sell."
Every REALTOR® in the Triad will convince you they know the housing market, but take note, and be sure to ask lots of questions.
If things don't add up, contact me at (336) 528-5561 or e-mail me at email@example.com, and I'll be happy to answer any questions you have. My market knowledge will keep you a step above the rest through the entire deal.
Step 5 – Find the home you've been waiting for
I'm confident we'll find the home of your dreams in the Triad area. When that happens, I'll meticulously develop your purchase offer. The offer will be made to fit your needs and the home. We'll include several contingencies, such as obtaining financing, completing the inspection, and a clear title.
When we send in your offer, you'll need to submit "earnest money." This is a cash deposit given to the home seller to secure an offer to purchase the property and is usually put towards the closing costs. If the seller accepts your offer, we should close on the home about 30 to 60 days after. This allows plenty of time for your mortgage financing.
Step 6 – Negotiate the deal
Most deals don't close on the beginning offer, and it's widely common to receive a counter offer. But don't let this alarm you. We'll talk over 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 will play a big part in how aggressively we negotiate the contract.
We'll also work within your financing constraints. And at the end of the day, we'll compose a contract that is best for you.
Step 7 – Get a loan
Upon completing the contract, you'll start working with your lender to close the loan.
It shouldn't take long at all if you're pre-approved, but you should to keep in close contact with your lender.
And I'll sort out all the property information your mortgage lender needs to close the loan.
Step 8 – Close the deal
You'll get a Loan Estimate (LE) detailing closing costs from your lender within three days of taking your application.
This estimate is based on the loan amount, and RESPA requirements dictate that it has to involve all closing costs and fall within a strict range of accuracy. I'll go over the estimate and let you know if everything looks permissible.
Then we'll close on your house. This will most likely occur at a title company or escrow office and is often a smooth and relaxing occasion.
Step 9 – Move in
Congratulations! It's time to move into your new home. Enjoy it. And if you need anything, make sure you contact me at 336-528-5561 or e-mail me at firstname.lastname@example.org.