Buying your new home in Asheboro with The Real Estate Shoppe
With some planning ahead of time, purchasing a home isn't too hard, but it still can be stressful for a lot of people.
So you'll understand exactly what to expect, we like to give our buyers an outline of the whole deal.
Here are our nine steps to buying a home.
Should you have any questions regarding any of this information or if you're prepared to get started, simply contact us here or send e-mail to firstname.lastname@example.org
Step 1 – Get ready to buy
There are a lot of things you need to do prior to commencing your home search.
When you start your search, you'll probably want to make a list of features you need to have, get a plan of what school districts you'd like to live in, and start planning your budget.
A good rule of thumb to follow is that your mortgage payment should be less than or close to 1/3 of your net monthly income.
Step 2 – Speak with a real estate agent in Asheboro
This is where The Real Estate Shoppe comes in.
We'd be happy to book 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 future plans.
We'll discuss the mortgage industry, other economic factors that may affect your buying decision today or in the future, as well as neighborhoods and schools in the Asheboro area.
We can also assist you with getting started on your loan.
There are some very good mortgage professionals in Asheboro, and we work with a lot of them, so you can rest assured that you're in great hands.
They can assist you with figuring out which kind of loan is best for you and help you get approved.
Step 3 – Begin looking for a house
After our first meeting, we'll start looking for available houses on the market that are great for you.
We'll get a sneak peek of many of the houses and reject the bad ones, and then we'll schedule appointments to view the houses when it's convenient for you.
As we tour homes, we'll point out good features, as well as bad ones. And we'll ask you to tell us about things you like and don't like.
It's common for buyers to update their list of must-haves as we view homes and some items become more substantial than others.
If that's the situation, we'll search all the listings one more time and trim it down to the home of your dreams.
Step 4 – Understand the market
Our knowledge of the Asheboro market is an essential resource in your house search. We're informed of all the neighborhoods and school districts, and we can let you know what areas are "hot" and require immediate action and the others that are "cold" and allow for thoughtful analysis.
As we tour homes, we'll make sure to communicate when the asking price has room for bargaining and when I believe the house is "priced to sell."
Any REALTOR® will tell you they know the home market, but trust your instincts, and be sure to ask your agent plenty of questions.
If things don't add up, call us at 336 625 1100 or e-mail us at email@example.com, and we'd be glad to answer your questions. Our understanding of the market will keep you a step ahead throughout the entire process.
Step 5 – Find the house you've been looking for
We're positive we'll find your dream house in the Asheboro area, and when we do, we'll precisely create your purchase offer. The offer will be made exactly to your needs. Whenever necessary, We never forget to make contracts contingent upon items like acquiring financing and the results of the home inspection.
Upon sending in your purchase offer, you'll need to present "earnest money." This is a cash deposit given to the home seller to secure an offer to purchase the property and is most often applied to the closing costs. If the offer is accepted by the seller, we should close within 30 to 60 days after. This allows plenty of time for your mortgage financing.
Step 6 – Negotiate
Unfortunately most deals aren't closed on the beginning offer, and it's pretty common to receive a counter offer. But don't let it discourage you. We'll discuss whether or not to take the counter offer, present our own counter offer, or decline the seller's offer and move on.
Market conditions will play a large role in how aggressively we negotiate the contract.
In addition, we'll work within your financing constraints. And at the end of the day, we'll put together a deal that works well for you.
Step 7 – Get financing
Once the deal is complete, you'll start working with your mortgage lender to close the loan.
If you've been pre-qualified, it won't take very long at all. But you need to keep in close contact with your lender.
And we'll deal with all the property information your lender will need to close the loan.>
Step 8 – Close the deal
You'll get a Good Faith Estimate (GFE) outlining closing costs from your mortgage lender within three days of accepting your loan application.
This estimate is based on the loan amount. RESPA requirements mandate that it has to include all closing costs and be within a narrow range of accuracy, and we'll analyze the estimate and let you know if everything looks okay.
Then we'll close on your house. This will likely take place at a title company or escrow office and should be a smooth and peaceful event.
Step 9 – Move in
Success! It's time to move into your new home. Enjoy it. And if you need anything or have any questions, simply contact us at 336 625 1100 or send us an e-mail.