With a little planning ahead of time, purchasing a home isn’t too hard, but it still is intimidating for a lot of people. We like to supply buyers with an outline of the whole deal so they know exactly what to expect. Here are our nine steps to buying a home.
Step 1 – Prepare to buy a home
Prior to beginning your home search, there are many things you’ll want to take into account. You’ll want to assemble an index of items you need, get a feel for what school districts and neighborhoods you want to live in, and start planning around your budget. Keeping your mortgage payment less than a third of your net monthly income is a good principle to adhere to.
Step 2 – Talk to a real estate agent in Pitt County
That’s where we can help. We’ll set up a time to meet so we can 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 Pitt County area, the mortgage and housing industries, to any other economic factors that may affect your purchase today or in the future.
In addition, we’ll help you facilitate the loan process. There are some great mortgage professionals in Pitt County, and we work with a lot of them, so you’ll be in great hands. They will help you determine which type of loan is best for you, as well as help you get approved.
Step 3 – Begin your search
Following our first meeting, we’ll begin finding available homes on the market that are a great fit for you. We’ll research most of the homes and remove the duds, and then we’ll set up appointments to tour the houses when it’s convenient for you.
When we tour houses, we’ll identify positive features, as well as bad ones. we’ll also ask you to tell us about things you like and dislike. It’s widely common for buyers to amend their must-have list as we view houses and some features become far more substantial than others. If that’s the situation, we’ll look through the listings one more time and narrow it down to the house of your dreams.
Step 4 – Get a grasp of the housing market
An agent’s knowledge of the Pitt County home market is a fundamental component in your house search. And we assure you we’re well acquainted with all the neighborhoods and schools, and we can communicate what districts are “hot” and require immediate action and the others that are “cold” and allow for careful examination.
As we view homes, we’ll be sure to tell you if the list price has room for negotiation or if we believe the home is “priced to sell.” Trust your instincts and be sure to ask your agent plenty of questions, as any real estate agent will convince you they understand the housing market. If things don’t add up, contact us at (252) 717-1504 or e-mail us at [email protected], and we’d be happy to answer any questions you may have. Our knowledge of the market will help you stay a step above the rest through the entire deal.
Step 5 – Find your dream home
We know we’ll find your dream home in the Pitt County area. When we do, we’ll thoroughly develop your purchase offer. The offer will be tailored with your needs in mind, including a lot of contingencies. A few examples are acquiring financing, carrying out the inspection, and a clear title.
When we send in your purchase offer, most likely you’ll want to present “earnest money.” This is a cash deposit submitted to a home seller to secure an offer to purchase the property and is usually put towards the cost of closing. If your offer is accepted, we should close on the home within 30 to 60 days afterward. This allows enough time for your mortgage financing.
Step 6 – Negotiate the deal
Most deals don’t close on the initial offer. It’s widely common to receive a counter offer. But don’t let this intimidate you. We’ll talk over whether or not to take the counter offer, propose our own counter offer, or decline the seller’s offer and go on.
Market circumstances will play a big part in how aggressively we negotiate the deal. In addition, we’ll work within your financing limits. And at the end of the day, we’ll formulate a deal that’s best for you.
Step 7 – Get your loan
Upon completing the deal, you’ll begin working with your mortgage lender to close the loan. If you’re already pre-qualified, it shouldn’t take very long at all, but you’ll need to keep in close contact with your mortgage lender. And we’ll manage all the property information your lender needs to close the loan.>
Step 8 – Close the deal
Your lender will supply you with a Good Faith Estimate (GFE) detailing closing costs within three days of taking your application. The estimate is based on the loan amount, and RESPA requirements require that it has to include all closing costs and fall within a strict range of accuracy. we’ll analyze the estimate and let you know if everything looks all right.
Then it’s time to close on your home. This will most likely occur at a title company or escrow office and will most likely be a smooth and pleasant occasion.
Step 9 – Move in
Congratulations! Now you can move into your new house. Enjoy it. And if you need anything, simply call us at (252) 717-1504 or send us an e-mail.