Buying or selling a home in Rock Hill? Petrovich Realty can help.
Buying a home is a stressful event for most people. However, with some up-front planning, it's not too complex.
I like to supply buyers with a road map of the whole deal so they understand exactly what they can expect.
These are my nine steps to purchasing a home.
If you have any questions regarding any of this information or if you're prepared to get started, you can contact me here or e-mail me at .
Step 1 – Get ready to buy
There are a lot of things you need to do before you start searching for a home.
When you start your search, you'll want to make a list of items you want, get a feeling for what school districts and neighborhoods you want to live in, and start working on your budget.
Keeping your mortgage payment less than or close to 30 percent of your monthly income is a good rule of thumb to adhere to.
Step 2 – Connect with a real estate agent in Rock Hill
That's where I come in.
We'll plan a time to get together so we can talk about why you want to buy a home and get an idea of your future plans.
We'll talk about the mortgage industry, other economic factors that might affect your purchase today or in the future, as well as neighborhoods and schools in the Rock Hill area.
I can also assist you with getting started on your loan.
Petrovich Realty works with some of Rock Hill's best mortgage professionals, so you're in great hands.
They'll help you decide which kind of loan is best for you, as well as help you get approved.
Step 3 – Begin looking
After our first meeting, I'll start looking for available homes on the market that are a good fit for you.
I'll get a sneak peek of most of the houses and eliminate the duds, and then we'll book appointments to view the homes whenever it's most convenient for you.
When we tour the homes, I'll identify good features and negative ones. And I'll ask you about things you like and dislike.
Usually, buyers revise their wish list as we view houses and some items become far more substantial than others.
If that's the case, I'll look through the listings once again and narrow it down to the house you've been wishing for.
Step 4 – Know the housing market
My understanding of the Rock Hill home market is an imperative component in your house search. I'm informed of all the school districts and neighborhoods, and I can alert you to what districts are "hot" and warrant prompt action and some that are "cool" and allow for thoughtful examination.
As we tour homes, I'll make sure to communicate when the seller's list price has room for bargaining and also when I believe the home is "priced to sell."
Any real estate agent will convince you they truly understand the market, but be careful, and be sure to ask your agent plenty of questions.
If things don't add up, call me at 803-524-2530 or e-mail me at , and I'd be glad to answer any questions you may have. My understanding of the market will help you stay a step above the rest throughout the entire deal.
Step 5 – Find the home you've been looking for
We'll find your dream home in Rock Hill, and when we do, I'll carefully develop your home purchase offer. The offer will be made to suit your needs and the home. We'll include many contingencies, such as acquiring financing, finishing the home inspection, and a clear title.
Upon presenting your purchase offer, most likely you'll want to present "earnest money." This is a cash deposit given to the seller to secure the offer to purchase the property and is often put towards the cost of closing. If the seller accepts your offer, we should close on the home about 30 to 60 days after. This allows sufficient time for your mortgage financing.
Step 6 – Negotiate the deal
A lot of contracts aren't closed on the first offer. It's really common to receive a counter offer. But don't let it intimidate you. We'll figure out whether or not to consent to the counter offer, propose our own counter offer, or decline the seller's offer and move on.
Market circumstances will play a large role in how aggressively we negotiate the contract.
We'll also work within your financing limits. And at the end of the day, we'll compose a contract that works well for you.
Step 7 – Obtain financing
Upon signing the deal, you'll start working with your lender to close the loan.
If you're already pre-qualified, this won't take very long at all, but you need to keep in close contact with your lender.
And I'll take care of all the property information your lender needs to close the loan.
Step 8 – Close the deal
Your mortgage lender will send you a Loan Estimate (LE) outlining closing costs within three days of taking your application. You'll get a Loan Estimate (LE) detailing closing costs from your mortgage lender within three days of accepting your loan application.
The estimate is based on the loan amount, and RESPA requirements order that it has to include all closing costs and fall within a close range of accuracy. I'll analyze the estimate and let you know if everything looks permissible.
Then we'll close on your home. This should take place at a title company or escrow office and will most likely be a smooth and hassle-free affair.
Step 9 – Move in
Congratulations! It's time to move into your new house. Enjoy it. And if you have any questions, just call me at 803-524-2530 or e-mail me at .