Buying a home is intimidating for a lot of people, but it's not all that complex with a bit of up-front planning.
I like to give buyers an outline of the whole deal so they understand exactly what to expect.
Below are my nine steps to buying a home.
 |
 |
 |
When you're ready to get started, just contact me here or send e-mail to theodomgroupsc@aol.com. I'm happy to answer questions you have about this information.
|
|
|
|
|
Step 1 – Get ready to buy
Before you start searching for a home, there are many things you need to consider.
It's likely that you'll want to assemble a list of must-have features, get a feeling for what school districts you'd like to live in, and begin planning around your budget.
Ensuring your mortgage payment is around a third of your net monthly income is a good principle to follow.
Step 2 – Speak with a real estate agent
This is where Gainco Realty can help.
We can book a time to meet so we can talk about your real estate needs and get an idea of your upcoming plans.
We'll talk about everything from neighborhoods, school districts in the Hartsville area, the mortgage and housing industries, to any other economic factors that may affect your buying decision today or in the future.
I'll also help you begin the loan process.
There are some excellent mortgage professionals in Hartsville, and I partner with a lot of them, so you can rest assured that you're in great hands.
They'll help you figure out which type of loan is best for you, as well as help you get approved.
Step 3 – Start looking for a home
After we meet for the first time, I'll start searching for available homes on the market that suit your needs.
I'll preview many of the homes and remove the duds, and then we'll set up appointments to view the houses when it's convenient for you.
When we tour houses, I'll point out good features and bad ones. I'll even ask you to talk about things you like and dislike.
Frequently, buyers change their must-have list as we tour homes and some items become far more crucial than others.
If that happens, I'll search the listings again and trim it down to the home you've been waiting for.
Step 4 – Get a grasp of the housing market
My awareness of the Hartsville housing market is a fundamental advantage in your search. I am acquainted with all the school districts and neighborhoods, and I'll let you know which areas are "hot" and call for prompt action and some that are "cold" and allow for thoughtful consideration.
As we tour homes, I'll be sure to tell you if the seller's asking price has room for negotiation or if I believe the house is "priced to sell."
When working with an agent, be careful and make sure you ask lots of questions. Every REALTOR® will convince you they understand the market.
If things don't add up, call me at 843-332-0561 or e-mail me at theodomgroupsc@aol.com, and I'll be happy to answer any questions you may have. My knowledge of the market will help you stay a step above the rest through the entire process.
Step 5 – Find the home you've been waiting for
I'm certain we'll find your dream house in the Hartsville area, and when that happens, I'll meticulously develop your real estate purchase offer. The offer will be made to suit your needs. Whenever necessary, I never forget to make contracts contingent upon items like acquiring financing and the results of the home inspection.
When we submit your offer, most likely you'll need to present "earnest money." This is a cash deposit made to the seller to secure an offer to purchase the property. The amount is usually applied to the cost of closing. If the offer is accepted by the seller, we should close on the home about 30 to 60 days afterward. This allows plenty of time for your mortgage financing.
Step 6 – Negotiate
A lot of deals don't close on the first offer. It's pretty common to receive a counter offer. But don't let this alarm 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 move on.
Market circumstances will play a part in how aggressively we negotiate the contract.
In addition, we'll work within your budget. And when it's all said and done, we'll compose a contract that is best for you.
Step 7 – Obtain your loan
Once the deal is finished, you'll begin working with your mortgage lender to close the loan.
This won't be a long process at all if you're already pre-qualified, but you'll want to stay in close contact with your mortgage lender.
And I'll look after all the property information your lender will need to close the loan.
Step 8 – Close the deal
You'll get a Good Faith Estimate (GFE) of your closing costs from your mortgage lender within three days of getting your application.
This estimate depends on the loan amount, and RESPA requirements mandate that it has to involve all closing costs and be within a narrow range of accuracy. I'll analyze the estimate and let you know if everything looks good.
Then we'll close on your home. This should take place at a title company or escrow office and is often a smooth and peaceful event.
Step 9 – Move in
Congratulations! It's time to move into your new house. Enjoy it. And if you need anything or have any questions, make sure you contact me at 843-332-0561 or send me an e-mail.