Purchasing your new home in Salisbury

With some up-front planning, buying a home isn't that confusing, but the event intimidates a lot of people. I like to supply buyers with an outline of the whole deal so they understand exactly what to expect. These are my nine steps to purchasing a home. When you're ready to get started, you can contact me here or e-mail me at . I'm glad to address any questions you have regarding this information.

Step 1 – Prepare to buy
There are many things you'll want to do before starting your home search. It's likely that you'll want to assemble an outline of items you need, get an idea of what neighborhoods you want to live in, and start working on your budget. A good rule to follow is that your mortgage payment should be around 1/3 of your net monthly income.

Step 2 – Get in touch with a real estate agent in Salisbury
This is where TMR Realty, Inc. can help. I'd like to plan a time to get together with you and speak with you about your real estate needs and get an idea of your future plans. We'll discuss everything from neighborhoods, schools in the Salisbury area, the mortgage industry, to any other economic factors that may potentially affect your buying decision today or in the future.

In addition, I'll help you start the loan process. TMR Realty, Inc. works with some of Salisbury's finest mortgage professionals, so you're in great hands. They'll assist you in determining which kind of loan is best for you and help you get qualified.

Step 3 – Begin looking
After we meet, I'll start finding available homes on the market that are a good fit for you. I'll research many of the homes and ignore the duds, and then we'll schedule appointments to view the homes at a time that's convenient for you.

As we view houses, I'll show you the good features, as well as negative ones. I'll also ask you about things you like and dislike. It's pretty common for buyers to amend their must-have list as we tour houses and some items become far more important than others. If such is the case, I'll look through the listings again and narrow it down to the home you've been wishing for.

Step 4 – Comprehend the market
My understanding of the Salisbury housing market is a leading agent in your house search. I am informed of all the school districts and neighborhoods, and I will let you know some neighborhoods are "hot" and require immediate action and the ones that are "cool" and allow for thoughtful examination.

When we view homes, I'll let you know when the asking price has room for bargaining and when I know the house is "priced to sell." When working with an agent, trust your instincts and be sure to ask plenty of questions. Every real estate agent will convince you they truly understand the market. If things don't add up, call me at (704) 245-6184 or e-mail me at , and I'll be glad to answer any questions you may have. My market expertise will help you stay a step ahead throughout the entire process.

Step 5 – Find your dream home
I'm sure we'll find the home of your dreams in Salisbury. When that happens, I'll precisely create your home purchase offer. The offer will be tailored exactly to your needs and the home, including a lot of contingencies. A few examples are getting financing, finishing the inspection, and a clear title.

When we turn in your offer, you'll want to submit "earnest money." This is a cash deposit submitted to the seller to secure the offer to buy the property and is typically put towards the cost of closing. If the seller accepts the offer, we should close on the home within 30 to 60 days afterward. This allows necessary time for your mortgage financing.

Step 6 – Negotiate
Most contracts aren't closed on the beginning offer, and it's extremely common to receive a counter offer. But don't let it alarm you. We'll talk about whether or not to agree to the counter offer, present our own counter offer, or refuse the seller's offer and go on.

Market conditions determine how aggressively we negotiate the deal. In addition, we'll work within your financing constraints. And when it's all said and done, we'll formulate a deal that is best for you.

Step 7 – Obtain financing
Once the deal is finished, you'll start working with your lender to close the loan. This shouldn't take very long at all if you're already pre-approved, but you need to stay in close contact with your lender. And I'll deal with all the property information your mortgage lender will need to close the loan.

Step 8 – Close the deal
Your lender will give you a Loan Estimate (LE) outlining your closing costs within three days of accepting your loan application. You'll get a Loan Estimate (LE) detailing closing costs from your mortgage lender within three days of taking your loan application. This estimate rests on the loan amount, and RESPA requirements require that it has to involve all closing costs and be within a strict range of accuracy. I'll study the estimate and let you know if everything looks permissible.

Then it's time to close on your home. This will probably occur at a title company or escrow office and should be a smooth and relaxed 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 (704) 245-6184 or e-mail me at .