Buying a home in Winston-Salem with Quarters Real Estate Services LLC
Buying a home is an intimidating event for most people, but with some up-front planning, it isn't very hard.
I like to supply buyers with an overview of the whole deal so they understand exactly what to expect.
Below are my nine steps to purchasing a home.
Should you have questions about this information or if you're ready to get started, simply contact me here or send e-mail to firstname.lastname@example.org
Step 1 – Get ready to buy a home
There are many things you need to do prior to starting your home search.
You'll most likely want to put together a checklist of features you want, plan for what school districts and neighborhoods you'd like to live in, and begin planning around your budget.
A good guideline to follow is that your mortgage payment should be less than or around a third of your net monthly income.
Step 2 – Get in touch with a real estate agent in Winston-Salem
That's where I come in.
I can book a time to meet so we can talk about why you want to buy a home and get an idea of your future plans.
We'll talk about the mortgage industry, other economic factors that may potentially affect your buying decision today or in the future, as well as neighborhoods and schools in the Winston-Salem area.
I can also help you begin the loan process.
There are some great mortgage professionals in Winston-Salem, and I partner with a lot of them, so you're in great hands.
They'll assist you with determining which type of loan is best for you and help you get qualified.
Step 3 – Begin looking for a home
After we meet, I'll start looking for houses on the market that are a great fit for you.
I'll preview many of the houses and throw out the duds, and then we'll book appointments to view the homes when it's convenient for you.
When we tour the homes, I'll point out positive features and negative ones. I'll also ask you to tell me about things you like and don't like.
Most often, buyers update their wish list as we tour homes and some items become more essential than others.
If such is the case, I'll search all the listings one more time and trim it down to the home you've been dreaming about.
Step 4 – Get a grasp of the market
Your agent's knowledge of the Winston-Salem market is a crucial aspect in your house search. And I assure you I'm acquainted with all the neighborhoods and school districts, and I will communicate what areas are "hot" and require prompt action and the rest that are "cool" and allow for thoughtful consideration.
When we view houses, I'll be sure to tell you if the list price has room for negotiation or if I believe the home is "priced to sell."
Be on guard and make sure you ask your agent a lot of questions, as any REALTOR® in Winston-Salem will claim to understand the housing market.
If things don't add up, call me at 336-287-5641 or e-mail me at email@example.com, and I'll be glad to answer any questions you may have. My understanding of the market will help you stay a step above the rest through the entire process.
Step 5 – Find the house you've been waiting for
I'm sure we'll find your dream home in the Winston-Salem area. When that happens, I'll meticulously create your home purchase offer. The offer will be tailored keeping your needs in mind, including several contingencies, such as acquiring financing, carrying out the home inspection, and a clean title.
Upon presenting your purchase offer, you'll probably want to submit "earnest money." This is a cash deposit submitted to the seller to secure an offer to purchase the property. The amount is most often put towards the closing costs. If your offer is accepted, we should close on the property within 30 to 60 days afterward. This allows enough time for your mortgage financing.
Step 6 – Negotiate the deal
Unfortunately most deals aren't closed on the first offer – it's pretty common to receive a counter offer. But don't let it intimidate you. We'll talk about whether or not to accept the counter offer, present our own counter offer, or reject the seller's offer and move on.
Market circumstances will play a big part in how aggressively we negotiate the contract.
We'll also work within your financing constraints. And at the end of the day, we'll create a contract that works well for you.
Step 7 – Get a loan
Once the contract is finalized, you'll start working with your mortgage lender to close the loan.
If you're already pre-approved, it won't take long at all. However, you'll need to keep in close contact with your lender.
And I'll take care of all the property information your mortgage lender will need to close the loan.>
Step 8 – Close the deal
You'll get a Loan Estimate (LE) of your closing costs from your lender within three days of receiving your application.
This estimate is formed from the loan amount, and RESPA requirements order that it has to involve all closing costs and be within a close range of accuracy. I'll examine the estimate and let you know if it all looks okay.
Then we'll close on your house. This will probably take place at a title company or escrow office and will likely be a smooth and comfortable event.
Step 9 – Move in
Success! Now you can move into your new home. Enjoy it. And if you need anything, simply call me at 336-287-5641 or send me an e-mail.