Are you contemplating purchasing a new home in Sunset Beach? Fred Thorne Realty LLC can help.
With a little planning ahead of time, purchasing a home isn't too complex, but the event is intimidating for many people.
I like to give buyers a road map of the entire deal so they understand exactly what to expect.
Below are my nine steps to buying a home.
Should you have any questions regarding this information or if you're prepared to get started, you can contact me here or e-mail me at .
Step 1 – Prepare to purchase
Before you begin searching for a home, there are a lot of things you should take into account.
You'll probably want to assemble a checklist of items you want, get an idea of what school districts you want to live in, and begin planning around your budget.
Keeping your mortgage payment less than or around 30 percent of your net monthly income is a good principle to adhere to.
Step 2 – Contact a real estate agent in Sunset Beach
That's where I come in.
We'll book a time to get together so we can talk about your real estate needs and get an idea of your future plans.
We'll discuss neighborhoods, school districts in the Sunset Beach 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 get started on your loan.
There are some very good mortgage professionals in Sunset Beach, and I partner with a lot of them, so you're in great hands.
They can help you decide which kind of loan is best for you, as well as help you get qualified.
Step 3 – Start looking
After our first meeting, I'll begin searching for available houses on the market that are great for you.
I'll preview many of the homes and eliminate the duds, and then we'll schedule appointments to tour the houses whenever it's most convenient for you.
As we tour homes, I'll point out positive features, as well as negative ones. I'll also ask you to tell us about things you like and don't like.
It's widely common for buyers to update their list of must-haves as we tour houses and some things become more substantial than others.
If that's the case, I'll search all the listings once more and narrow it down to the home you've been dreaming about.
Step 4 – Understand the housing market
My understanding of the Sunset Beach housing market is a leading aspect in your home search. I'm familiar with all the neighborhoods and schools, and I will alert you to some neighborhoods are "hot" and call for prompt action and some that are "cool" and allow for thoughtful consideration.
As we tour houses, I'll make sure to communicate when the seller's list price has room for bargaining and when I know the house is "priced to sell."
When working with an agent, be on guard and make sure you ask plenty of questions, as every real estate agent will convince you they truly know the market.
If things don't add up, just call me at 910.367.6396 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 ahead throughout the entire process.
Step 5 – Find your dream home
We'll find your dream home in the Sunset Beach area, and when that happens, I'll carefully develop your real estate purchase offer. The offer will be tailored keeping your needs in mind and the home, including several contingencies, such as getting financing, completing the home inspection, and a clean title.
When we send in your offer, you'll want to present "earnest money." This is a cash deposit given to the home seller to secure the offer to purchase the property. The amount is usually put towards the cost of closing. If the offer is accepted, we should close on the home within 30 to 60 days afterward. This allows plenty of time for your mortgage financing.
Step 6 – Negotiate the deal
A lot of deals aren't closed on the initial offer – it's pretty common to receive a counter offer. But don't let it intimidate you. We'll discuss whether or not to consent to the counter offer, submit our own counter offer, or refuse the seller's offer and move on.
The state of the market determines how aggressively we negotiate the contract.
We'll also work within your budget. And at the end of the day, we'll formulate a contract that's best for you.
Step 7 – Get financing
Once we sign the final deal, you'll begin working with your mortgage lender to close the loan.
This won't take much time at all if you're already pre-qualified, but you need to keep in close contact with your lender.
And I'll manage 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 closing costs from your mortgage lender within three days of accepting your loan application.
The estimate depends on the loan amount, and RESPA requirements mandate that it has to contain all closing costs and be within a strict range of accuracy. I'll analyze the estimate and let you know if everything looks all right.
Then it's time to close on your home. This will most likely occur at a title company or escrow office and should be a smooth and hassle-free occasion.
Step 9 – Move in
Congratulations! Now you can move into your new house. Enjoy it. And if you have any questions, be sure to call me at 910.367.6396 or e-mail me at .