Are you looking to buy a home in Archdale? Stan Byrd Realtors can help.
Purchasing a home intimidates a lot of people, but with a little planning ahead of time, it isn't very complex.
So they understand exactly what to expect, I like to furnish buyers with a road map of the whole deal.
These are my nine steps to purchasing a home.
When you're ready to get started, simply contact me here or e-mail me at . I'm glad to answer any questions you have about this information.
Step 1 – Get ready to purchase
There are many things you'll want to consider prior to starting your home search.
You'll want to put together a list of items you want to have, get a feeling for what neighborhoods and school districts you'd like to live in, and begin planning around your budget.
A good guideline to adhere to is that your mortgage payment should be less than 1/3 of your net monthly income.
Step 2 – Communicate with a real estate agent
That's where I come in.
I'd love to schedule a time to meet with you and talk about your real estate needs and get an idea of your upcoming plans.
We'll discuss the mortgage and housing industries, other economic factors that may affect your buying decision today or in the future, as well as neighborhoods and school districts in the Archdale area.
I can also assist you with getting started on your loan.
Stan Byrd Realtors partners with some of Archdale's finest mortgage professionals, so you can rest assured that you're in great hands.
They will help you determine which kind of loan is best for you, as well as help you get qualified.
Step 3 – Begin looking for a home
After our first meeting, I'll begin looking for houses on the market that meet your needs.
I'll get a sneak peek of many of the houses and ignore the duds, and then we'll schedule appointments to tour the homes when it's most convenient for you.
As we view the homes, I'll identify good features and negative ones. And I'll ask you what things you like and dislike.
It's widely common for buyers to update their must-have list as we view houses and some items become far more necessary than others.
If such is the case, I'll look through the listings once more and narrow it down to the home you've been dreaming about.
Step 4 – Know the housing market
An agent's awareness of the Archdale housing market is an imperative aspect in your home search. And I assure you I'm familiar with all the neighborhoods and schools, and I will alert you to what districts are "hot" and demand prompt action and the ones that are "cold" and allow for cautiousness.
As we tour homes, I'll be sure to tell you when the seller's list price has room for negotiation and when I trust the house is "priced to sell."
When working with an agent, be careful and be sure to ask plenty of questions, as every real estate agent in Archdale will tell you they truly know the housing market.
If it appears they don't know everything, call me at (336) 861-9119 or e-mail me at , and I'll be glad to answer your questions. My market knowledge will help you stay a step ahead throughout the entire deal.
Step 5 – Find the home you've been looking for
I'm sure we'll find the home of your dreams in the Archdale area. When that happens, I'll thoroughly develop your real estate purchase offer. The offer will be tailored exactly to your needs and the home, including some contingencies, such as obtaining financing, carrying out the inspection, and a clear title.
Upon presenting your purchase offer, you'll need to submit "earnest money." This is a cash deposit submitted to a home seller to secure the offer to buy the property. The amount is most often put towards the closing costs. If the seller accepts your offer, we should close on the property about 30 to 60 days after. This allows ample time for your mortgage financing.
Step 6 – Negotiate the deal
Unfortunately most contracts don't close on the initial offer, and it's pretty common to receive a counter offer. Don't let this intimidate you. We'll discuss whether or not to consent to the counter offer, present our own counter offer, or reject the seller's offer and move on.
Market conditions will play a role in how aggressively we negotiate the contract.
We'll also 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 – Obtain financing
Once we sign the final contract, you'll begin working with your mortgage lender to close the loan.
If you've been pre-qualified, it shouldn't take much time at all, but you need to keep in close contact with your lender.
And I'll care for all the property information your lender will need to close the loan.
Step 8 – Close the deal
Your mortgage lender will furnish you with a Loan Estimate (LE) detailing closing costs within three days of getting your loan application. You'll get a Loan Estimate (LE) of closing costs from your mortgage lender 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 fall within a tight range of accuracy, and I'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 comfortable occasion.
Step 9 – Move in
Congratulations! It's time to move into your new house. Enjoy it. And if you need anything, make sure you contact me at (336) 861-9119 or e-mail me at .