Contemplating purchasing your new home in Rock Hill?
Purchasing a home is intimidating for a lot of people, but with some planning ahead of time, it isn't that complex.
So they understand exactly what they can expect, I'll supply buyers with an outline of the entire deal.
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 happy to address questions you have regarding this information.
Step 1 – Prepare to buy a home
There are a lot of things you'll want to do prior to commencing your home search.
You'll probably want to assemble a check list of features you want to have, get an idea of what school districts and neighborhoods you want to live in, and begin planning around your budget.
Keeping your mortgage payment less than 1/3 of your net monthly income is a good rule of thumb to adhere to.
Step 2 – Talk to a real estate agent
This is where Petrovich Realty comes in.
I'd love to plan a time to meet with you and speak with you regarding why you want to buy a home and get an idea of your plans for the future.
We'll talk about everything from neighborhoods, schools in the Rock Hill area, the mortgage industry, to any other economic factors that could affect your buying decision today or in the future.
I can also help you start the loan process.
I partner with some of Rock Hill's finest mortgage professionals, so you're in great hands.
They'll help you decide which type of loan is best for you, as well as help you get qualified.
Step 3 – Start house hunting
After we meet for the first time, I'll start looking for homes on the market that suit your needs.
I'll get a sneak peek of many of the houses and ignore the duds, and then we'll set up appointments to view the houses whenever it's most convenient for you.
As we tour the houses, I'll point out positive features, as well as bad ones. And I'll ask you to tell us about things you like and dislike.
Generally, buyers change their must-have list as we view homes and some features become more important than others.
If that's the situation, I'll look through the listings another time and narrow it down to the house you've been wishing for.
Step 4 – Understand the housing market
My understanding of the Rock Hill home market is a fundamental factor in your house search. I'm mindful of all the neighborhoods and schools, and I'll alert you to which districts are "hot" and demand prompt action and the ones that are "cool" and allow for more analysis.
When we view homes, I'll be sure to tell you if the asking price has room for bargaining or if I believe the home is "priced to sell."
Every real estate agent will convince you they know the housing market, but be on guard, and make sure you ask your agent plenty of questions.
If it seems like they don't know everything, contact me at 803-524-2530 or e-mail me at , and I'll be more than happy to answer any questions you might have. My market knowledge will keep you a step above the rest through the entire deal.
Step 5 – Find the house you've been looking for
We'll find the house of your dreams in Rock Hill, and when that happens, I'll carefully create your real estate purchase offer. The offer will be tailored with your needs in mind and the home, including many contingencies, such as acquiring financing, completing the inspection, and a clean title.
Upon sending in your offer, you'll want to present "earnest money." This is a cash deposit given to a home seller to secure an offer to purchase the property and is typically applied to the cost of closing. If the offer is accepted, we should close on the property within 30 to 60 days afterward. This allows enough time for your mortgage financing.
Step 6 – Negotiate
Most contracts aren't closed on the initial offer. It's very common to receive a counter offer. Don't let it alarm you. We'll talk over whether or not to consent to the counter offer, propose our own counter offer, or reject the seller's offer and go on.
The state of the market determines how aggressively we negotiate the contract.
In addition, we'll work within your budget. And when it's all said and done, we'll formulate a contract that is best for you.
Step 7 – Get financing
Once the contract is finalized, you'll begin working with your lender to close the loan.
If you're pre-qualified, it won't take long at all. However, you need to keep in close contact with your mortgage lender.
And I'll look after all the property information your lender will need to close the loan.
Step 8 – Close the deal
Your lender will send you a Loan Estimate (LE) of your closing costs within three days of accepting your loan application. You'll get a Loan Estimate (LE) outlining your closing costs from your lender within three days of accepting your loan application.
This estimate rests on the loan amount, and RESPA requirements require that it has to contain all closing costs and fall within a narrow range of accuracy. I'll go over the estimate and let you know if it all looks permissible.
Then we'll close on your home. This should take place at a title company or escrow office and is often a smooth and hassle-free occasion.
Step 9 – Move in
Congratulations! It's time to move into your new home. Enjoy it. And if you have any questions, simply contact me at 803-524-2530 or e-mail me at .