Looking to Purchase a House in Burgaw, NC?
Buying a home is nerve-racking for a lot of people, but it isn’t too complex with some up-front planning. Buyers need a road map of the whole deal so they understand exactly what they can expect. Below are nine steps to buying a Burgaw, NC, house.
Step 1 – Prepare to buy
There are many things you’ll want to consider before commencing your house search. You’ll probably want to form a check list of must-haves, get a feeling for what neighborhoods and school districts you’d like to live in, and start planning around your budget. A good principle to go by is that your mortgage payment should be close to 30 percent of your monthly income.
Step 2 – Get with a real estate agent
This is where Tammy Barnes, a licensed Realtor of Coldwell Banker Sea Coast Realty, can help. She is ready to meet with you and talk about why you want to buy a home to get an idea of your plans for the future. She’ll discuss the mortgage industry, other economic factors that could affect your purchase today or in the future, as well as neighborhoods and schools in the Burgaw area.
She can also help you begin the loan process. There are some great mortgage professionals in the Burgaw area, and she partners with a lot of them, so you’re in great hands. They can help you decide which type of loan is best for you, as well as help you get qualified.
Step 3 – Begin house hunting
Following your first meeting with Tammy, you’ll begin finding homes on the market that are great for you. She’ll get a sneak peek of most of the homes and exclude the bad ones, and then she’ll schedule appointments to view the homes whenever it’s most convenient for you.
As you tour homes, she’ll call attention to positive features and negative ones. And she’ll ask you to point out what things you like and dislike. Usually, buyers update their list of must-haves as they view homes and some things become far more essential than others. If that’s the case, she’ll look through all the listings another time and trim it down to the house you’ve been wishing for.
Step 4 – Understand the housing market
Your agent’s understanding of the Burgaw, NC, housing market is a leading aspect in your house search. Assuredly, Tammy is conscious of all the neighborhoods and schools, and will alert you to which areas are “sought-after” and require speedy action, and some that are “cold” and allow for careful consideration.
When you tour homes, she’ll make sure to communicate when the seller’s asking price has room for negotiation and also when she knows the home is “priced to sell.” When working with an agent, be careful and be sure to ask a lot of questions. Any real estate agent will tell you they know the market. If it doesn’t seem like they know everything, just call Tammy at (910)471-5579. She’ll be glad to answer any questions you may have. Her understanding of the market will help you stay a step ahead through the entire process.
Step 5 – Find the home you’ve been looking for
Tammy is confident you’ll find the home of your dreams in Burgaw, and when you do, she’ll meticulously develop your real estate purchase offer. The offer will be made exactly to your needs. Whenever necessary, she’ll never forget to make contracts contingent upon items like acquiring financing and the results of the house inspection.
Let Tammy Barnes guide you through finding your dream house in Burgaw. Upon sending in your offer, you’ll need to submit “earnest money.” This is a cash deposit made to a house seller to secure an offer to buy the property. The amount is most often applied to the closing costs. If your offer is accepted by the seller, we should close on the house about 30 to 60 days after. This allows sufficient time for your mortgage financing.
Step 6 – Negotiate the deal
A lot of contracts don’t close on the initial offer – it’s really common to receive a counter offer. But don’t let this alarm you. Tammy will figure out whether or not to take the counter offer, present a counter offer, or refuse the seller’s offer and move on.
How aggressively she helps you negotiate the deal depends on the state of the market. In addition, she’ll work within your financing constraints. And at the end of the day, she’ll create a contract that works well for you.
Step 7 – Obtain financing
Upon completing the contract, you’ll begin working with your lender to close the loan. It won’t be a long process at all if you’ve been pre-approved, but you need to keep in close contact with your mortgage lender. And Tammy will look after 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 your closing costs from your mortgage lender within three days of accepting your application. This estimate rests on the loan amount. RESPA requirements dictate that it has to include all closing costs and be within a narrow range of accuracy. Tammy will study the estimate and let you know if it all looks acceptable.
Then you’ll close on your house. This will most often happen at an attorney’s office and will likely be a smooth and calm occurrence.
Step 9 – Move in
You made it! Now you can move into your new home. Enjoy it.
If you have any questions about buying Burgaw, NC, real estate, give Tammy Barnes a call at (910)471-5579 or visit her web site at .
If you have any questions about buying Burgaw, NC, real estate, give Tammy Barnes a call at (910)471-5579 or visit her web site at .
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