Buying or selling a home in Winston-Salem?
For a lot of people, purchasing a home can be a stressful event. But with a little planning ahead of time, it's not too confusing.
So they'll know exactly what to expect, I like to 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 answer questions you have regarding this information.
Step 1 – Prepare to buy a home
There are many things you'll want to do before commencing your home search.
When you start your search, you'll want to create a check list of items you want, get a plan of what school districts you want to live in, and start working on your budget.
Keeping your mortgage payment around 1/3 of your net monthly income is a good rule of thumb to go by.
Step 2 – Speak with a real estate agent in Winston-Salem
That's where I come in.
I'd be happy to arrange a time to get together with you and talk about why you want to buy a home and get an idea of your upcoming plans.
We'll discuss everything from neighborhoods, schools in the Winston-Salem area, the mortgage industry, to any other economic factors that could potentially affect your purchase today or in the future.
I can also help you facilitate the loan process.
There are some great mortgage professionals in Winston-Salem, and I partner with a lot of them, so you'll be in great hands.
They'll help you figure out which type of loan is best for you, as well as help you get approved.
Step 3 – Start house-hunting
After our first meeting, I'll start searching for available houses on the market that are a good fit for you.
I'll research many of the houses and eliminate the bad ones, and then we'll schedule appointments to tour the houses when it's convenient for you.
When we view the houses, I'll show you the good features and bad ones. I'll also ask you what things you like and don't like.
It's pretty common for buyers to amend their must-have list as we tour homes and some features become far more essential than others.
If that's the situation, I'll look through the listings again and narrow it down to the house you've been waiting for.
Step 4 – Know the market
My knowledge of the Winston-Salem market is an imperative agent in your home search. I'm conscious of all the schools and neighborhoods, and I'll alert you to certain areas are "hot" and require prompt action and the ones that are "cold" and allow for more consideration.
When we view homes, I'll be sure to tell you when the seller's list price has room for negotiation and when I think the house is "priced to sell."
When working with an agent, be on guard and make sure you ask plenty of questions. Every REALTOR in Winston-Salem will tell you they truly understand the housing market.
If things don't add up, just call me at (336) 722-9911 or e-mail me at , and I'll be more than happy to answer any questions you may have. My market knowledge will keep you a step ahead throughout the entire deal.
Step 5 – Find the house you've been waiting for
We'll find the house of your dreams in Winston-Salem, and when that happens, I'll meticulously create your home purchase offer. The offer will be tailored exactly to your needs and the home, including a lot of contingencies, such as obtaining financing, finishing the inspection, and a clean title.
Upon sending in your purchase offer, most likely you'll need to present "earnest money." This is a cash deposit submitted to a home seller to secure the offer to buy the property and is most often applied to 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 don't close on the first offer. It's pretty common to receive a counter offer. Don't let this intimidate you. We'll figure out whether or not to take the counter offer, propose our own counter offer, or decline the seller's offer and go on.
Market conditions will play a part in how aggressively we negotiate the contract.
We'll also work within your financing limits. And when it's all said and done, we'll assemble a deal that works well for you.
Step 7 – Obtain your loan
Upon completion of the deal, you'll begin working with your lender to close the loan.
If you're already pre-qualified, this won't take much time at all. However, you'll need to stay in close contact with your mortgage lender.
And I'll manage 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 closing costs from your lender within three days of accepting your application.
This estimate rests on the loan amount, and RESPA requirements order that it has to contain all closing costs and be within a precise range of accuracy. I'll analyze the estimate and let you know if everything looks okay.
Then we'll close on your home. This will most likely take place at a title company or escrow office and will most likely be a smooth and pleasant occurrence.
Step 9 – Move in
Congratulations! Now you can move into your new home. Enjoy it. And if you need anything, make sure you contact me at (336) 722-9911 or e-mail me at .