Buying a home in Holden Beach with Mary T. "Beth" Suggs
With some up-front planning, buying a home isn't all that difficult, but the event can be stressful for a lot of people.
I like to supply buyers with an overview of the entire deal so they know exactly what to expect.
Here are my nine steps to purchasing a home.
Step 1 – Prepare to buy a home
There are many things you'll want to do prior to commencing your home search.
You'll want to put together a check list of items you want, get an idea of what school districts and neighborhoods you'd like to live in, and begin planning around your budget.
Keeping your mortgage payment less than a third of your net monthly income is a good rule of thumb to go by.
Step 2 – Speak with a real estate agent in Holden Beach
That's where I come in.
I can book a time to get together so we can talk about your real estate needs and get an idea of your plans for the future.
We'll discuss the mortgage and housing industries, other economic factors that could potentially affect your buying decision today or in the future, as well as neighborhoods and school districts in the Holden Beach area.
I'll also assist you in getting started on your loan.
There are some very good mortgage professionals in Holden Beach, and I partner with a lot of them, so you'll be in great hands.
They will help you choose which type of loan is best for you, as well as help you get qualified.
Step 3 – Start looking for a house
After our initial meeting, I'll begin looking for available houses on the market that are a great fit for you.
I'll get a sneak peek of many of the houses and remove the bad ones, and then we'll schedule appointments to tour the houses at a time that's convenient for you.
As we view the houses, I'll point out good features and bad ones. I'll also ask you to point out what things you like and don't like.
It's common for buyers to revise their wish list as we view homes and some items become far more crucial than others.
If such is the case, I'll look through the listings another time and trim it down to the house you've been wishing for.
Step 4 – Understand the market
My understanding of the Holden Beach housing market is an indispensable advantage in your search. I am acquainted with all the school districts and neighborhoods, and I can communicate what neighborhoods are "hot" and require prompt action and the rest that are "cool" and allow for careful examination.
When we view houses, I'll be sure to tell you when the asking price has room for negotiation and also when I think the house is "priced to sell."
When working with an agent, be on guard and make sure you ask a lot of questions, as any REALTOR® in Holden Beach will convince you they know the housing market.
If things don't add up, contact me at 910-842-4939 or e-mail me at beth@bethsuggs.com, and I'd be happy to answer any questions you have. My market expertise will keep you a step above the rest throughout the entire deal.
Step 5 – Find the home of your dreams
I know we'll find the house of your dreams in the Holden Beach area, and when we do, I'll carefully create your home purchase offer. The offer will be tailored keeping your needs in mind. Whenever necessary, I never forget to make contracts contingent upon items like acquiring financing and the results of the home inspection.
Upon sending in your purchase offer, you'll need to submit "earnest money." This is a cash deposit made to the seller to secure an offer to buy the property and is typically put towards the cost of closing. If the offer is accepted, we should close on the property about 30 to 60 days after. This allows necessary time for your mortgage financing.
Step 6 – Negotiate the deal
Most deals aren't closed on the first offer. It's extremely common to receive a counter offer. Don't let this alarm you. We'll talk over whether or not to take the counter offer, submit our own counter offer, or decline the seller's offer and go on.
How aggressively we negotiate the contract depends on market conditions.
We'll also work within your financing constraints. And when it's all said and done, we'll assemble a contract that is best for you.
Step 7 – Obtain your loan
After the contract is complete, you'll start working with your lender to close the loan.
If you've been pre-approved, this won't take very long at all. But you'll want to stay in close contact with your lender.
And I'll take care of all the property information your mortgage 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 getting your loan application.
This estimate is based on the loan amount, and RESPA requirements mandate that it has to involve all closing costs and be within a precise range of accuracy. I'll examine the estimate and let you know if it all looks all right.
Then it's time to close on your home. This will probably take place at a title company or escrow office and is often a smooth and relaxing affair.
Step 9 – Move in
Congratulations! Now you can move into your new home. Enjoy it. And if you need anything, just contact me at 910-842-4939 or send me an e-mail.