Contemplating purchasing your new home in Topton? Nantahala Real Estate Company, INC can help.
For many people, purchasing a home is a stressful event. However, with a little planning ahead of time, it isn't too confusing.
I like to give buyers an overview of the whole deal so they know exactly what to expect.
Here are my nine steps to buying a home.
Should you have any questions about any of this information or if you're prepared to get started, you can contact me here or e-mail me at .
Step 1 – Prepare to purchase a home
There are several things you should take into account before you search for a home.
When you start your search, you'll probably want to put together a list of must-have features, get a feeling for what neighborhoods you'd like to live in, and start planning around your budget.
Ensuring your mortgage payment is no more than 30 percent of your net monthly income is a good rule of thumb to follow.
Step 2 – Connect with a real estate agent
This is where I come in.
We can book a time to get together so we can talk about why you want to buy a home and get an idea of your future plans.
We'll discuss everything from neighborhoods, school districts in the Topton area, the mortgage and housing industries, to any other economic factors that might affect your purchase today or in the future.
I'll also help you start the loan process.
There are some excellent mortgage professionals in Topton, and I work with a lot of them, so you can rest assured that you're in great hands.
They can help you figure out which kind of loan is best for you, as well as help you get qualified.
Step 3 – Begin looking
After our first meeting, I'll begin searching for available homes on the market that are great for you.
I'll research most of the houses and ignore the duds, and then we'll book appointments to tour the homes when it's most convenient for you.
As we view the homes, I'll point out positive features, as well as negative ones. I'll also ask you what things you like and dislike.
Oftentimes, buyers update their must-have list as we tour houses and some things become far more essential than others.
If that's the situation, I'll go back through the listings one more time and narrow it down to the house you've been waiting for.
Step 4 – Understand the housing market
My awareness of the Topton housing market is an essential aspect in your home search. I'm conscious of all the neighborhoods and schools, and I'll communicate what areas are "hot" and warrant prompt action and the ones that are "cool" and allow for careful consideration.
As we view homes, I'll let you know if the seller's list price has room for negotiation or if I believe the house is "priced to sell."
When working with an agent, be mindful and make sure you ask a lot of questions. Any real estate agent will claim to know the housing market.
If things don't add up, contact me at 8283213101 or e-mail me at , and I'd be happy to answer any questions you may have. My market knowledge will keep you a step above the rest throughout the entire process.
Step 5 – Find the home you've been waiting for
I know we'll find the home of your dreams in the Topton area. 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 some contingencies, such as getting financing, finishing the inspection, and a clean title.
When we submit your purchase offer, you'll want to present "earnest money." This is a cash deposit submitted to a home seller to secure an offer to buy the property and is most often applied to the cost of closing. If the seller accepts the offer, we should close on the home about 30 to 60 days afterward. This allows enough time for your mortgage financing.
Step 6 – Negotiate
Unfortunately most deals aren't closed on the first offer, and it's extremely common to receive a counter offer. Don't let this discourage you. We'll talk over whether or not to take the counter offer, propose our own counter offer, or reject the seller's offer and go on.
The state of the market will play a large role 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 compose a contract that works well for you.
Step 7 – Get financing
After the deal is finalized, you'll begin working with your mortgage lender to close the loan.
If you've been pre-approved, this shouldn't take very long at all, but you should to stay in close contact with your lender.
And I'll handle all the property information your 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 taking your application.
The estimate rests on the loan amount, and RESPA requirements dictate that it has to include all closing costs and be within a narrow range of accuracy. I'll review the estimate and let you know if everything looks good.
Then it's time to close on your home. This will likely take place at a title company or escrow office and should be a smooth and peaceful affair.
Step 9 – Move in
Congratulations! Now you can move into your new home. Enjoy it. And if you need anything, be sure to contact me at 8283213101 or e-mail me at .