Buying a home in Cary
For many people, buying a home can be stressful. However, with a bit of up-front planning, it's not that hard.
We like to supply buyers with a road map of the whole deal so they'll understand exactly what to expect.
Here are our nine steps to purchasing a home.
Step 1 – Prepare to buy a home
Before you begin your home search, there are a lot of things you need to contemplate.
It's likely that you'll want to put together an index of items you need to have, get a feeling for what school districts and neighborhoods you want to live in, and start planning your budget.
Ensuring your mortgage payment is less than or close to 30 percent of your net monthly income is a good rule to follow.
Step 2 – Speak with a real estate agent in Cary
That's where we come in.
We'd love to arrange a time to get together with you and speak with you about your real estate needs and get an idea of your upcoming plans.
We'll discuss the mortgage and housing industries, other economic factors that might affect your purchase today or in the future, as well as neighborhoods and school districts in the Cary area.
In addition, we'll help you get started on your loan.
We work with some of Cary's best mortgage professionals, so you're in great hands.
They can help you choose which kind of loan is best for you, as well as help you get approved.
Step 3 – Start your search
After our initial meeting, we'll start searching for available houses on the market that are great for you.
We'll preview most of the houses and exclude the bad ones, and then we'll book appointments to view the homes when it's most convenient for you.
As we tour houses, we'll call attention to good features, as well as negative ones. And we'll ask you to point out what things you like and don't like.
Most often, buyers amend their list of must-haves as we view homes and some features become far more important than others.
If such is the case, we'll search all the listings once again and trim it down to the house you've been waiting for.
Step 4 – Know the market
Our awareness of the Cary housing market is a fundamental advantage in your search. We are informed of all the neighborhoods and school districts, and we can communicate some neighborhoods are "hot" and demand immediate action and the ones that are "cold" and allow for thoughtful analysis.
When we tour homes, we'll let you know if the seller's asking price has room for negotiation or if I believe the home is "priced to sell."
Every REALTOR® in Cary will claim to truly understand the market, but be careful, and be sure to ask plenty of questions.
If it seems like they don't know everything, just call us at 919-878-1600 or e-mail us at email@example.com, and we'd be happy to answer any questions you might have. Our knowledge of the market will help you stay a step above the rest throughout the entire deal.
Step 5 – Find the house you've been looking for
We're positive we'll find the house of your dreams in the Cary area. When we do, we'll carefully create your home purchase offer. The offer will be tailored to suit your needs, including several contingencies, such as obtaining financing, completing the home inspection, and a clean title.
Upon presenting your offer, you'll likely want to submit "earnest money." This is a cash deposit made to a seller to secure an offer to buy the property, and it's typically put towards the closing costs. If your offer is accepted, we should close about 30 to 60 days afterward. This allows sufficient time for your mortgage financing.
Step 6 – Negotiate the deal
A lot of contracts don't close on the initial offer, and it's pretty common to receive a counter offer. Don't let it discourage you. We'll talk over whether or not to accept the counter offer, present our own counter offer, or refuse the seller's offer and move on.
The state of the market will play a vital role 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 formulate a contract that's best for you.
Step 7 – Obtain a loan
Upon signing the deal, you'll begin working with your mortgage lender to close the loan.
It won't take long at all if you're pre-qualified, but you should to keep in close contact with your lender.
And we'll take care of all the property information your mortgage lender will need to close the loan.>
Step 8 – Close the deal
Your mortgage lender will furnish you with a Loan Estimate (LE) outlining your closing costs within three days of accepting your loan application.
The estimate rests on the loan amount, and RESPA requirements mandate that it has to contain all closing costs and be within a tight range of accuracy. we'll study the estimate and let you know if everything looks adequate.
Then it's time to close on your house. This will most likely take place at a title company or escrow office and will likely be a smooth and pleasant affair.
Step 9 – Move in
You made it! It's time to move into your new house. Enjoy it. And if you have any questions, simply call us at 919-878-1600 or send us an e-mail.