Are you buying your new home in Albemarle?

Purchasing a home is a stressful event for a lot of people. However, with a little up-front planning, it isn't very hard. So they'll know exactly what they can expect, I'll furnish buyers with an outline of the whole deal. Here 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 buy
There are several things you need to consider prior to beginning your home search. When you begin your search, you'll want to make a list of features you want to have, get a feeling for what neighborhoods you'd like to live in, and start working on your budget. Ensuring your mortgage payment is less than or close to 30 percent of your net monthly income is a good rule to go by.

 

Step 2 – Contact a real estate agent
That's where I can help. We'll plan a time to get together so we can talk about why you want to buy a home and get an idea of your plans for the future. We'll talk about the mortgage and housing industries, other economic factors that might affect your buying decision today or in the future, as well as neighborhoods and schools in the Cabarrus, Davidson, Montgomery, Stanly and Union County areas.

 

I can also assist you in getting started on your loan. There are some great mortgage professionals in Albemarle, and I partner with a lot of them, so you can rest assured that you're in great hands. They'll assist you with determining which kind of loan is best for you and help you get approved.

 

Step 3 – Begin house hunting
Following our initial meeting, I'll begin searching for homes on the market that are a good fit for you. I'll research many of the houses and ignore the duds, and then we'll set up appointments to view the houses whenever it's convenient for you.

When we view the homes, I'll identify positive features, as well as bad ones. I'll even ask you what things you like and dislike. It's common for buyers to change their list of must-haves as we tour houses and some items become more necessary than others. If such is the case, I'll look through all the listings again and narrow it down to the house you've been wishing for.

Step 4 – Comprehend the market
Your agent's understanding of the home market is an essential aspect in your house search. And I assure you I'm conscious of all the schools and neighborhoods, and I can communicate some districts are "hot" and demand prompt action and some that are "cold" and allow for thoughtful examination.

When we view homes, I'll let you know when the seller's asking price has room for negotiation and when I believe the house is "priced to sell." Be mindful and make sure you ask lots of questions, as every REALTOR will convince you they truly know the market. If things don't add up, just text or call me at (704) 985-6817 or e-mail me at galford777@carolina.rr.com and I'd be more than happy to answer your questions. My understanding of the market will keep you a step ahead through the entire process.

Step 5 – Find the house you've been waiting for
We'll find the house of your dreams in the Albemarle area, and when that happens, I'll precisely develop your home purchase offer. The offer will be tailored to suit your needs and the home, including some contingencies, such as getting financing, completing the home inspection, and a clear title.

When sending in your purchase offer, you'll need to submit "earnest money." This is a cash deposit submitted to the seller to secure an offer to purchase the property, and it's most often applied to the cost of closing. If the offer is accepted, we should close on the home about 30 to 60 days afterward. This allows plenty of time for your mortgage financing.

 

Step 6 – Negotiate
Most deals aren't closed on the beginning offer, and it's widely common to receive a counter offer. Don't let it intimidate you. We'll talk about whether or not to consent to the counter offer, present our own counter offer, or refuse the seller's offer and go on.

Market conditions determine how aggressively we negotiate the contract. We'll also work within your budget. And when it's all said and done, we'll put together a contract that works well for you.

Step 7 – Secure your loan
Upon completion of the deal, you'll begin working with your lender to close the loan. If you're already pre-qualified, it won't take very long at all. But you'll need to stay in close contact with your mortgage lender. And I'll care for all the property information your lender will need to close the loan.

Step 8 – Close the deal
Your lender will provide you with a Good Faith Estimate (GFE) of your closing costs within three days of taking your application. You'll get a Good Faith Estimate (GFE) detailing your closing costs from your mortgage lender within three days of getting your application. This estimate depends on the loan amount, and RESPA requirements order that it has to include all closing costs and be within a tight range of accuracy. I'll examine the estimate and let you know if it all looks adequate.

Then we'll close on your house. This will most often occur at a title company or escrow office and is often a smooth and comfortable event.

Step 9 – Move in
Congratulations! It's time to move into your new home. Enjoy it. And if you need anything or have any questions, be sure to contact me at (704) 985-6817 or e-mail me at galford777@carolina.rr.com .