Buying or selling a home in Blacksburg?
Purchasing a home can be stressful for many people, but with a little planning ahead of time, it's not all that difficult.
So you'll understand exactly what to expect, I like to give my buyers an overview of the whole deal.
These are my nine steps to purchasing a home.
If you have any questions about any of this information or if you're prepared to get started, just contact me here or send e-mail to firstname.lastname@example.org
Step 1 – Prepare to purchase
Before you start looking for a home, there are many things you need to consider.
When you begin your search, you'll want to make an index of items you need to have, get a plan of what school districts you want to live in, and begin planning your budget.
Ensuring your mortgage payment is no more than 30 percent of your net monthly income is a good rule of thumb to follow.
Step 2 – Get in touch with a real estate agent in Blacksburg
This is where I come in.
I'd be more than happy to schedule a time to meet with you and speak with you regarding your real estate needs and get an idea of your upcoming plans.
We'll discuss neighborhoods, schools in the Blacksburg area, the mortgage and housing industries, and any additional economic factors that may potentially affect your purchase today or in the future.
In addition, I'll help you start the loan process.
I work with some of Blacksburg's best mortgage professionals, so you'll be in great hands.
They can help you figure out which kind of loan is best for you, as well as help you get approved.
Step 3 – Begin house hunting
Following our first meeting, I'll begin finding houses on the market that are great for you.
I'll get a sneak peek of many of the homes and remove the bad ones, and then we'll book appointments to view the houses whenever it's convenient for you.
When we view the houses, I'll show you the positive features and negative ones. I'll also ask you to point out what things you like and don't like.
For the most part, buyers update their wish list as we tour houses and some items become more substantial than others.
If that's the situation, I'll search the listings again and narrow it down to the home you've been waiting for.
Step 4 – Get a grasp of the housing market
My awareness of the Blacksburg market is a fundamental advantage in your home search. I'm mindful of all the neighborhoods and school districts, and I can alert you to what neighborhoods are "hot" and require immediate action and the others that are "cool" and allow for careful analysis.
When we view houses, I'll make sure to communicate if the list 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 plenty of questions. Any real estate agent in Blacksburg will tell you they truly know the market.
If things don't add up, just call me at 540-553-5742 or e-mail me at email@example.com, and I'll be happy to answer any questions you may have. My understanding of the market will help you stay a step ahead through the entire deal.
Step 5 – Find the house you've been looking for
I'm positive we'll find the house of your dreams in Blacksburg, and when that happens, I'll carefully create your purchase offer. The offer will be made to suit your needs. Whenever necessary, I never forget to make contracts contingent upon items like your ability to secure financing and the results of the home inspection.
When presenting your offer, you'll want to submit "earnest money." This is a cash deposit given to a seller to secure the offer to buy the property. The amount is often put towards the cost of closing. If the seller accepts the offer, we should close on the property about 30 to 60 days afterward. This allows necessary time for your mortgage financing.
Step 6 – Negotiate
Unfortunately most contracts don't close on the beginning offer, and it's pretty common to receive a counter offer. But don't let this intimidate you. We'll talk about whether or not to take the counter offer, present our own counter offer, or reject the seller's offer and go on.
Market circumstances will play a big part in how aggressively we negotiate the contract.
We'll also work within your budget. And when it's all said and done, we'll create a deal that works well for you.
Step 7 – Get financing
After the contract is finalized, you'll begin working with your mortgage lender to close the loan.
If you've been pre-approved, it won't be a long process at all, but you'll need to stay in close contact with your mortgage lender.
And I'll handle all the property information your lender needs to close the loan.>
Step 8 – Close the deal
You'll get a Good Faith Estimate (GFE) detailing closing costs from your lender within three days of taking your application.
This estimate is formed from the loan amount. RESPA requirements order that it has to include all closing costs and fall within a narrow range of accuracy, and I'll study the estimate and let you know if it all looks all right.
Then we'll close on your home. This should take place at a title company or escrow office and will likely 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 need anything or have any questions, be sure to call me at 540-553-5742 or send me an e-mail.