Buying a Home in Pinehurst?
9 Steps To A Successful Real Estate Transaction
Should you have questions about any of this information or if you're prepared to get started, you can contact me here or send e-mail to firstname.lastname@example.org.
Step 1 – Get ready to buy
Before you start looking for a home, there are a lot of things you'll want to take into account.
When you begin your search, you'll want to make a checklist of items you want, get a feel for what school districts you'd like to live in, and begin planning around your budget.
Keeping your mortgage payment around 1/3 of your net monthly income is a good rule of thumb to go by.
Step 2 – Enlist An Accredited Buyer Representative (ABR)
As a credentialed specialist in exclusive buyer agency representation this is where I can help. We can set a time to meet to talk about why you want to buy a home and get an idea of your upcoming plans.
We'll discuss neighborhoods, school districts in the Pinehurst area, the mortgage and housing industries, and any other economic factors that may potentially affect your purchase today or in the future.
I'll also help you start the loan process, which is now critical in early stages of your home search due to changes in the mortgage industry.
There are some great mortgage professionals in Pinehurst, and I will put you in touch with a professional that best suits your individual needs.
They will help you choose which kind of loan is best for you, as well as help you get approved.
Step 3 – Begin house-hunting
Following our first meeting, I'll begin finding homes on the market that are great for you.
I'll research many of the homes and throw out the bad ones, and then we'll set up appointments to view the homes whenever it's most convenient for you.
When we tour houses, I'll call attention to good features, as well as bad ones. I'll also ask you to point out what things you like and dislike.
It's widely common for buyers to amend their wish list as we view homes and some items become far more essential than others.
If that's the case, I'll search the listings another time and trim it down to the home you've been waiting for.
Step 4 – Know the housing market
My knowledge of the Pinehurst housing market is an essential resource in your search. I am informed of all the neighborhoods and school districts, and I'll alert you to which areas are "hot" and require immediate action and the others that are "cool" and allow for thoughtful consideration.
As we tour homes, I'll make sure to communicate when the list price has room for negotiation and also when I think the house is "priced to sell."
Any REALTOR® will claim to truly know the home market, but be wary, and be sure to ask plenty of questions.
If it doesn't seem like they know everything, call me at 910.302.8374 or e-mail me at email@example.com, and I'll be more than happy to answer any questions you may have. My market expertise will keep you a step ahead throughout the entire process.
Step 5 – Find the house of your dreams
I'm sure we'll find your dream home in Pinehurst, and when we do, I'll thoroughly create your real estate purchase offer. The offer will be written to suit your needs. Whenever necessary, I never forget to make contracts contingent upon items like your ability to secure financing and the results of the home inspection.
Upon submitting your purchase offer, you'll want to submit "earnest money." This is a cash deposit submitted to the seller to secure the offer to purchase the property. The amount is usually applied to the closing costs. If your 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 the deal
Most deals don't close on the initial offer. It's extremely common to receive a counter offer. But don't let this discourage you. We'll talk about whether or not to agree to the counter offer, submit our own counter offer, or refuse the seller's offer and go on.
How aggressively we negotiate the contract depends on market conditions.
In addition, we'll work within your financing budget. And when it's all said and done, we'll put together a contract that is best for you.
Step 7 – Get a loan
Upon finishing the deal, you'll start working with your 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
Your mortgage lender will give you a Good Faith Estimate (GFE) of your closing costs within three days of getting your application.
The estimate is formed from the loan amount. RESPA requirements mandate that it has to contain all closing costs and fall within a precise range of accuracy, and I'll review the estimate and let you know if it all looks adequate.
Then we'll close on your house. This will probably occur at a title company or escrow office and will most often be a smooth and calm occurrence.
Step 9 – Move in
You made it! Now you can move into your new home. Enjoy it. And if you need anything or have any questions, simply call me at 910.302.8374 or send me an e-mail.