Buying your home in King
Buying a home is an intimidating event for most people, but with a little planning ahead of time, it's not all that complex.
I like to give buyers a road map of the entire deal so they know exactly what they can expect.
Below are my nine steps to buying a home.
If you have any questions regarding this information or if you're prepared to get started, just contact me here or e-mail me at .
Step 1 – Get ready to buy a home
There are plenty of things you need to take into account before beginning your home search.
When you start your search, you'll want to assemble a checklist of items you want to have, get a plan of what neighborhoods and school districts you'd like to live in, and start working on your budget.
A good guideline to follow is that your mortgage payment should be less than or close to 1/3 of your net monthly income.
Step 2 – Communicate with a real estate agent in King
That's where I can help.
I'd love to set up a time to meet with you and communicate with you about your real estate needs and get an idea of your plans for the future.
We'll discuss everything from neighborhoods, school districts in the King area, the mortgage and housing industries, to any other economic factors that could affect your buying decision today or in the future.
I'll also help you begin the loan process.
Ann Chilton Realty, Inc partners with some of King's best mortgage professionals, so you can rest assured that you're in great hands.
They'll assist you with figuring out which type of loan is best for you and help you get qualified.
Step 3 – Start looking
After our first meeting, I'll begin looking for homes on the market that meet your needs.
I'll get a sneak peek of many of the houses and reject the bad ones, and then we'll set up appointments to tour the houses whenever it's most convenient for you.
When we tour houses, I'll call attention to positive features, as well as negative ones. And I'll ask you what things you like and dislike.
Generally, buyers revise their wish list as we view homes and some things become more crucial than others.
If such is the case, I'll go back through all the listings another time and narrow it down to the home you've been dreaming about.
Step 4 – Understand the housing market
An agent's awareness of the King housing market is an imperative component in your house search. And I assure you I'm mindful of all the schools and neighborhoods, and I will communicate which districts are "hot" and warrant immediate action and others that are "cool" and allow for thoughtful consideration.
As we tour homes, I'll let you know if the seller's asking price has room for negotiation or if I believe the home is "priced to sell."
When working with an agent, be mindful and make sure you ask a lot of questions, as any REALTOR will convince you they comprehend the housing market.
If it appears they don't know everything, contact me at 336.983.9000 or e-mail me at , and I'd be glad to answer any questions you may have. My market expertise will keep you a step ahead throughout the entire deal.
Step 5 – Find the house you've been looking for
I'm positive we'll find the home of your dreams in the King area. When we do, I'll carefully create your real estate purchase offer. The offer will be tailored keeping your needs in mind and the home, including a lot of contingencies. A few examples are getting financing, carrying out the inspection, and a clean title.
Upon sending in your offer, you'll want to submit "earnest money." This is a cash deposit given to a seller to secure the offer to purchase the property, and it's often put towards the cost of closing. If the seller accepts the offer, we should close on the home about 30 to 60 days after. This allows ample time for your mortgage financing.
Step 6 – Negotiate
A lot of contracts don't close on the beginning offer. It's widely common to receive a counter offer. But don't let this intimidate you. We'll consider whether or not to agree to the counter offer, submit our own counter offer, or reject the seller's offer and go on.
The state of the market will play a big part in how aggressively we negotiate the deal.
In addition, we'll work within your budget. And at the end of the day, we'll assemble a deal that's best for you.
Step 7 – Obtain a loan
After we sign the final sales contract, you'll start working with your lender to close the loan.
If you've been pre-qualified, it shouldn't take long at all, but you'll need to keep in close contact with your lender.
And I'll look after all the property information your mortgage lender needs to close the loan.
Step 8 – Close the deal
You'll get a Loan Estimate (LE) detailing your closing costs from your mortgage lender within three days of taking your loan application.
This estimate is formed from the loan amount. RESPA requirements require 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 permissible.
Then it's time to close on your house. This should occur at a title company or escrow office and will most often be a smooth and hassle-free event.
Step 9 – Move in
Congratulations! Now you can move into your new house. Enjoy it. And if you need anything, be sure to call me at 336.983.9000 or e-mail me at .