Are you purchasing your home in Winston-Salem? John-Mark Mitchell's Realty Group can help.
Buying a home is a stressful event for a lot of people, but with a little up-front planning, it isn't very complicated.
So they'll understand exactly what to expect, I will provide buyers with an outline of the whole deal.
These are my nine steps to buying a home.
When you're ready to get started, you can contact me here or e-mail me at . I'm happy to answer questions you have regarding this information.
Step 1 – Prepare to buy
There are several things you need to take into account before beginning your home search.
You'll probably want to form a list of items you need, get a feeling for what school districts you want to live in, and begin planning your budget.
Ensuring your mortgage payment is less than or around 1/3 of your net monthly income is a good guideline to go by.
Step 2 – Speak with a real estate agent
This is where John-Mark Mitchell's Realty Group can help.
I'd love to book a time to get together with you and communicate with you regarding your real estate needs and get an idea of your plans for the future.
We'll talk about neighborhoods, schools in the Winston-Salem area, the mortgage industry, and any other economic factors that may potentially affect your purchase today or in the future.
I can also assist you with getting started on your loan.
John-Mark Mitchell's Realty Group partners with some of the best mortgage professionals in Winston-Salem, so you're in great hands.
They can assist you with choosing which type of loan is best for you and help you get qualified.
Step 3 – Begin looking for a home
Following our initial meeting, I'll begin finding houses on the market that meet your needs.
I'll get a sneak peek of most of the houses and remove the bad ones, and then we'll book appointments to tour the houses whenever it's convenient for you.
As we tour houses, I'll identify good features, as well as negative ones. And I'll ask you what things you like and dislike.
It's pretty common for buyers to update their must-have list as we view houses and some features become more important than others.
If that happens, I'll go back through the listings again and trim it down to the house you've been dreaming about.
Step 4 – Understand the housing market
An agent's awareness of the Winston-Salem market is a fundamental component in your house search. And I assure you I'm familiar with all the school districts and neighborhoods, and I will communicate certain districts are "hot" and demand prompt action and others that are "cool" and allow for careful analysis.
When we tour homes, I'll let you know if the seller's asking price has room for bargaining or if I believe the home is "priced to sell."
Every real estate agent in Winston-Salem will tell you they know the market, but take note, and make sure you ask your agent a lot of questions.
If things don't add up, call me at (336) 722-9911 or e-mail me at , and I'll be happy to answer any questions you may have. My market knowledge will keep you a step ahead through the entire deal.
Step 5 – Find your dream house
I'm sure we'll find your dream house in Winston-Salem. When that happens, I'll thoroughly create your real estate purchase offer. The offer will be tailored to suit your needs and the home, including several contingencies, such as obtaining financing, completing the home inspection, and a clean title.
When we turn in your purchase offer, you'll want to present "earnest money." This is a cash deposit given to the home seller to secure an offer to purchase the property, and it's often put towards the closing costs. If your offer is accepted by the seller, we should close within 30 to 60 days after. This allows necessary time for your mortgage financing.
Step 6 – Negotiate
Most contracts aren't closed on the first offer, and it's pretty common to receive a counter offer. But don't let it alarm you. We'll figure out whether or not to agree to the counter offer, propose our own counter offer, or refuse the seller's offer and move on.
The state of the market determines how aggressively we negotiate the deal.
In addition, we'll work within your financing constraints. And at the end of the day, we'll compose a deal that's best for you.
Step 7 – Secure a loan
Once the deal is finished, you'll begin working with your lender to close the loan.
If you've been pre-approved, this shouldn't take long at all, but you'll want to keep in close contact with your mortgage lender.
And I'll handle all the property information your lender will need to close the loan.
Step 8 – Close the deal
Your mortgage lender will give you a Loan Estimate (LE) of your closing costs within three days of getting your loan application. You'll get a Loan Estimate (LE) of closing costs from your lender within three days of getting your loan application.
The estimate rests on the loan amount, and RESPA requirements order that it has to contain all closing costs and be within a tight range of accuracy. I'll examine the estimate and let you know if everything looks adequate.
Then we'll close on your house. This will probably take place at a title company or escrow office and is often a smooth and relaxing affair.
Step 9 – Move in
Congratulations! Now you can move into your new house. Enjoy it. And if you have any questions, simply contact me at (336) 722-9911 or e-mail me at .