Contemplating purchasing a home in Burlington? Massey Real Estate can help.
Buying a home is intimidating for a lot of people, but with a bit of planning ahead of time, it's not all that complicated.
I like to supply buyers with an overview of the whole deal so they know exactly what they can expect.
These are my nine steps to purchasing a home.
Step 1 – Prepare to purchase a home
There are a lot of things you need to consider prior to beginning your home search.
You'll most likely want to create a list of must-haves, get a feel for what school districts and neighborhoods you'd like to live in, and begin working on your budget.
A good guideline to adhere to is that your mortgage payment should be around 30 percent of your net monthly income.
Step 2 – Get with a real estate agent in Burlington
This is where Massey Real Estate can help.
I'd love to plan a time to get together with you and communicate with you about why you want to buy a home and get an idea of your upcoming plans.
We'll talk about neighborhoods, schools in the Burlington area, the mortgage and housing industries, and any additional economic factors that could affect your purchase today or in the future.
I'll also assist you in getting started on your loan.
There are some great mortgage professionals in Burlington, and I work with a lot of them, so you'll be in great hands.
They can help you decide which type of loan is best for you, as well as help you get qualified.
Step 3 – Start your home search
Following our initial meeting, I'll start finding available homes on the market that are great for you.
I'll preview most of the homes and reject the bad ones, and then we'll schedule appointments to view the homes whenever it's convenient for you.
As we tour the homes, I'll call attention to good features, as well as bad ones. I'll even ask you to talk about things you like and don't like.
It's common for buyers to revise their must-have list as we tour homes and some things become far more crucial than others.
If such is the case, I'll search the listings another time and trim it down to the home of your dreams.
Step 4 – Understand the market
My knowledge of the Burlington market is an essential resource in your search. I'm acquainted with all the school districts and neighborhoods, and I will alert you to certain districts are "hot" and warrant immediate action and the ones that are "cold" and allow for thoughtful analysis.
As we tour homes, I'll let you know if the seller's asking price has room for bargaining or if I believe the house is "priced to sell."
When working with an agent, be on guard and make sure you ask a lot of questions. Every real estate agent in Burlington will convince you they know the housing market.
If things don't add up, contact me at 336-512-0640 or e-mail me at firstname.lastname@example.org, and I'll be glad to answer any questions you have. My market expertise will help you stay a step above the rest throughout the entire process.
Step 5 – Find the house you've been looking for
I'm positive we'll find your dream home in the Burlington area. When that happens, I'll carefully create your home purchase offer. The offer will be tailored exactly to your needs, including many contingencies. A few examples are acquiring financing, carrying out the inspection, and a clear title.
Upon submitting your offer, you'll need to submit "earnest money." This is a cash deposit given to a seller to secure an offer to buy the property and is most often put towards the cost of closing. If the seller accepts your offer, we should close within 30 to 60 days afterward. This allows plenty of time for your mortgage financing.
Step 6 – Negotiate the deal
Most contracts don't close on the beginning offer. It's extremely common to receive a counter offer. Don't let it intimidate you. We'll figure out whether or not to consent to the counter offer, submit our own counter offer, or refuse the seller's offer and go on.
The state of the market determines how aggressively we negotiate the deal.
We'll also work within your budget. And when it's all said and done, we'll put together a contract that is best for you.
Step 7 – Get financing
Upon completing the contract, you'll start working with your mortgage lender to close the loan.
It shouldn't take much time at all if you're already pre-qualified, but you'll need to stay in close contact with your mortgage lender.
And I'll handle all the property information your mortgage lender needs to close the loan.>
Your lender will send you a Good Faith Estimate (GFE) detailing your closing costs within three days of taking your application.
The estimate is based on the loan amount. RESPA requirements require that it has to involve all closing costs and be within a precise range of accuracy, and I'll examine the estimate and let you know if everything looks okay.
Then it's time to close on your house. This will most likely happen at a title company or escrow office and will most likely be a smooth and hassle-free affair.
Step 9 – Move in
Success! It's time to move into your new home. Enjoy it. And if you need anything, make sure you call me at 336-512-0640 or send me an e-mail.