Let Seagroves Realty assist you with buying your home in Durham
Purchasing a home is a stressful event for a lot of people. However, with some planning ahead of time, it's not all that confusing.
So they'll know exactly what to expect, I'll give buyers an overview of the whole deal.
These are my nine steps to purchasing a home.
When you're ready to get started, you can contact me here or e-mail me at . I'm happy to answer questions you have about this information.
Step 1 – Get ready to purchase
Prior to beginning your home search, there are a lot of things you need to contemplate.
When you begin your search, you'll probably want to form a list of features you need to have, get a plan of what school districts you want to live in, and begin working on your budget.
Ensuring your mortgage payment is no more than 1/3 of your net monthly income is a good principle to adhere to.
Step 2 – Communicate with a real estate agent
That's where I come in.
I'd be more than happy to plan a time to meet with you and talk about why you want to buy a home and get an idea of your future plans.
We'll discuss everything from neighborhoods, schools in the Durham area, the mortgage industry, to any other economic factors that might affect your purchase today or in the future.
I can also help you get started on your loan.
I work with some of the finest mortgage professionals in Durham, so you're in great hands.
They will assist you with deciding which type of loan is best for you and help you get approved.
Step 3 – Start looking for a home
After we meet, I'll start searching for homes on the market that are good for you.
I'll preview many of the houses and throw out the bad ones, and then we'll schedule appointments to view the homes whenever it's most convenient for you.
As we tour the houses, I'll show you the good features, as well as bad ones. I'll also ask you to point out what things you like and dislike.
It's pretty common for buyers to update their list of must-haves as we view houses and some items become more important than others.
If such is the case, I'll search the listings another time and trim it down to the home you've been wishing for.
Step 4 – Know the housing market
An agent's knowledge of the Durham housing market is a necessary aspect in your house search. And I assure you I'm conscious of all the neighborhoods and school districts, and I will let you know which neighborhoods are "hot" and call for immediate action and the ones that are "cool" and allow for more examination.
When we view homes, I'll make sure to communicate when the seller's list price has room for negotiation and also when I know the house is "priced to sell."
Every real estate agent will convince you they comprehend the home market, but be wary, and make sure you ask your agent a lot of questions.
If things don't add up, contact me at 919-317-1115 or e-mail me at , and I'll be more than happy to answer any questions you have. My market knowledge will keep you a step above the rest throughout the entire deal.
Step 5 – Find the house of your dreams
I'm certain we'll find your dream house in Durham. When we do, I'll carefully develop your real estate purchase offer. The offer will be made to suit your needs and the home. We'll include a lot of contingencies, such as obtaining financing, completing the inspection, and a clear title.
Upon turning in your purchase offer, you'll probably want to present "earnest money." This is a cash deposit given to the seller to secure the offer to purchase the property and is usually put towards the closing costs. If your offer is accepted by the seller, we should close on the property within 30 to 60 days afterward. This allows plenty of time for your mortgage financing.
Step 6 – Negotiate the deal
Most contracts aren't closed on the beginning offer, and it's extremely common to receive a counter offer. Don't let this alarm you. We'll consider whether or not to agree to the counter offer, submit our own counter offer, or refuse the seller's offer and go on.
Market circumstances will play a big part in how aggressively we negotiate the deal.
In addition, we'll work within your financing limits. And when it's all said and done, we'll compose a deal that's best for you.
Step 7 – Get your loan
After we sign the final contract, you'll start working with your mortgage lender to close the loan.
If you're already pre-approved, it shouldn't be a long process at all, but you'll want to keep in close contact with your lender.
And I'll manage all the property information your lender needs to close the loan.
Step 8 – Close the deal
You'll get a Loan Estimate (LE) outlining your closing costs from your mortgage lender within three days of taking your application.
This estimate is based on the loan amount. RESPA requirements mandate that it has to include all closing costs and fall within a strict range of accuracy, and I'll go over the estimate and let you know if it all looks okay.
Then we'll close on your house. This should occur at a title company or escrow office and will probably be a smooth and hassle-free event.
Step 9 – Move in
Congratulations! It's time to move into your new house. Enjoy it. And if you have any questions, be sure to contact me at 919-317-1115 or e-mail me at .