With a little up-front planning, purchasing a home isn't that hard, but the event can be stressful for a lot of people.
I like to give buyers a road map of the entire deal so they'll know exactly what they can expect.
Below are my nine steps to buying a home.
 |
 |
 |
If you have questions about any of this information or if you're ready to get started, simply contact me here or e-mail me at lisaflynt@coldwellbanker.com.
|
|
|
|
|
Step 1 – Get ready to buy
There are several things you should contemplate before commencing your home search.
When you start your search, you'll probably want to create a list of items you want, get an idea of what school districts you want to live in, and begin planning your budget.
Keeping your mortgage payment around a third of your monthly income is a good principle to adhere to.
Step 2 – Contact a real estate agent in Burlington
This is where Coldwell Banker Triad Realtors comes in.
I'd love to schedule a time to get together with you and communicate with you regarding why you want to buy a home and get an idea of your future plans.
We'll discuss neighborhoods, school districts in the Burlington area, the mortgage and housing industries, and any other economic factors that may affect your purchase today or in the future.
In addition, I'll help you facilitate the loan process.
Coldwell Banker Triad Realtors partners with some of the finest mortgage professionals in Burlington, so you'll be in great hands.
They can help you choose which type of loan is best for you, as well as help you get qualified.
Step 3 – Begin your search
After our first meeting, I'll start finding houses on the market that suit your needs.
I'll preview many of the houses and eliminate the bad ones, and then we'll book appointments to tour the homes at a time that's convenient for you.
As we tour homes, I'll call attention to good features and negative ones. And I'll ask you to tell us about things you like and don't like.
It's pretty common for buyers to change their list of must-haves as we tour houses and some items become more essential than others.
If such is the case, I'll go back through the listings once more and narrow it down to the house of your dreams.
Step 4 – Know the housing market
Your agent's knowledge of the Burlington housing market is a leading component in your house search. And I can assure you I'm informed of all the neighborhoods and schools, and I can communicate what neighborhoods are "hot" and warrant prompt action and others that are "cool" and allow for careful examination.
When we view houses, I'll be sure to tell you when the seller's list price has room for bargaining and also when I think the home is "priced to sell."
When working with an agent, be careful and make sure you ask plenty of questions, as every REALTOR® will convince you they truly understand the market.
If things don't add up, contact me at 3362691581 or e-mail me at lisaflynt@coldwellbanker.com, and I'd be more than happy to answer any questions you may have. My market knowledge will help you stay a step ahead through the entire process.
Step 5 – Find the house you've been looking for
I know we'll find the house of your dreams in the Burlington area, and when that happens, I'll precisely create your home purchase offer. The offer will be written to suit your needs. Whenever necessary, I never forget to make contracts contingent upon items like obtaining financing and the results of the home inspection.
When submitting your offer, you'll probably need to submit "earnest money." This is a cash deposit given to the seller to secure an offer to purchase the property. The amount is often applied to the cost of closing. If the offer is accepted by the seller, we should close on the property about 30 to 60 days afterward. This allows ample time for your mortgage financing.
Step 6 – Negotiate
Most deals aren't closed on the initial offer, and 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, propose our own counter offer, or refuse the seller's offer and move on.
Market circumstances determine how aggressively we negotiate the deal.
We'll also work within your financing limits. And at the end of the day, we'll put together a contract that is best for you.
Step 7 – Get a loan
After we sign the final contract, you'll start working with your lender to close the loan.
If you're already pre-qualified, it won't take very long at all. However, you should to keep in close contact with your lender.
And I'll sort out all the property information your lender will need to close the loan.
Step 8 – Close the deal
Your lender will give you a Good Faith Estimate (GFE) detailing closing costs within three days of receiving your loan application. You'll get a Good Faith Estimate (GFE) outlining closing costs from your lender within three days of receiving your loan application.
The estimate depends on the loan amount, and RESPA requirements require that it has to involve all closing costs and fall within a tight range of accuracy. I'll go over the estimate and let you know if everything looks adequate.
Then it's time to close on your house. This will most often take place at a title company or escrow office and is often a smooth and comfortable affair.
Step 9 – Move in
Congratulations! Now you can move into your new house. Enjoy it. And if you need anything, just contact me at 3362691581 or send me an e-mail.
