Are you purchasing a home in Winston-Salem?
With a little planning ahead of time, buying a home isn't that hard, but the event is intimidating for many people.
So they know exactly what to expect, I will furnish buyers with an outline of the whole deal.
Here are my nine steps to purchasing a home.
When you're ready to get started, you can 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 a home
Before you start your home search, there are a lot of things you should take into account.
You'll want to assemble an outline of must-have features, plan for what neighborhoods and school districts you'd like to live in, and begin planning your budget.
Ensuring your mortgage payment is around 30 percent of your net monthly income is a good guideline to adhere to.
Step 2 – Communicate with a real estate agent in Winston-Salem
This is where I can help.
I'd love to schedule a time to meet with you and speak with you about why you want to buy a home and get an idea of your plans for the future.
We'll talk about the mortgage industry, other economic factors that may affect your buying decision today or in the future, as well as neighborhoods and school districts in the Winston-Salem area.
I can also help you begin the loan process.
There are some great mortgage professionals in Winston-Salem, and I work with a lot of them, 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 – Start looking
Following our initial meeting, I'll begin finding available homes on the market that are good for you.
I'll get a sneak peek of most of the homes and throw out the duds, and then we'll set up appointments to tour the houses whenever it's convenient for you.
When we tour the homes, I'll call attention to positive features, as well as bad ones. I'll even ask you what things you like and don't like.
Generally, buyers change their wish list as we tour homes and some things become more crucial than others.
If that's the situation, I'll go back through the listings once again and trim it down to the house you've been waiting for.
Step 4 – Comprehend the housing market
Your agent's awareness of the Winston-Salem housing market is a leading aspect in your home search. And I can assure you I'm mindful of all the schools and neighborhoods, and I'll let you know some areas are "hot" and require immediate action and others that are "cool" and allow for more examination.
As we tour homes, I'll make sure to communicate when the seller's list price has room for bargaining and when I trust the house is "priced to sell."
Any real estate agent in Winston-Salem will tell you they understand the home market, but be mindful, and be sure to ask your agent lots of questions.
If it seems like they don't know everything, call me at (336) 722-9911 or e-mail me at , and I'll be happy to answer any questions you have. My knowledge of the market will help you stay a step ahead throughout the entire process.
Step 5 – Find your dream house
We'll find your dream home in the Winston-Salem area, and when we do, I'll thoroughly develop your real estate purchase offer. The offer will be made to fit your needs and the home. We'll include a lot of contingencies, such as acquiring financing, carrying out the inspection, and a clear title.
Upon sending in your offer, most likely you'll need to present "earnest money." This is a cash deposit made to the seller to secure an offer to buy the property, and it's often applied to the closing costs. If your 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 deals don't close on the beginning offer. It's really common to receive a counter offer. Don't let this discourage you. We'll talk over whether or not to accept the counter offer, submit our own counter offer, or refuse the seller's offer and move on.
How aggressively we negotiate the deal depends on the state of the market.
In addition, we'll work within your budget. And at the end of the day, we'll formulate a deal that's best for you.
Step 7 – Secure financing
After the deal is complete, you'll start working with your mortgage lender to close the loan.
If you're pre-approved, this won't take much time at all, but you'll need to keep in close contact with your mortgage lender.
And I'll look after all the property information your mortgage lender needs to close the loan.
Step 8 – Close the deal
Your lender will furnish you with a Loan Estimate (LE) detailing closing costs within three days of accepting your loan application. You'll get a Loan Estimate (LE) outlining closing costs from your lender within three days of taking your loan application.
The estimate rests on the loan amount, and RESPA requirements require that it has to include all closing costs and be within a narrow range of accuracy. I'll analyze the estimate and let you know if it all looks good.
Then we'll close on your house. This will likely happen at a title company or escrow office and will probably be a smooth and relaxing occurrence.
Step 9 – Move in
Congratulations! Now you can move into your new home. Enjoy it. And if you have any questions, simply call me at (336) 722-9911 or e-mail me at .