Let Petrovich Realty assist you in buying a new home in Rock Hill
With a little up-front planning, buying a home isn't too complicated, but the event can be stressful for a lot of people.
I like to furnish buyers with an outline of the whole deal so they'll know exactly what to expect.
These are my nine steps to purchasing a home.
If you have questions about 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 a home
There are a lot of things you need to contemplate prior to commencing your home search.
You'll most likely want to form a checklist of features you need, get a plan of what neighborhoods you'd like to live in, and begin working on your budget.
Ensuring your mortgage payment is no more than 1/3 of your monthly income is a good guideline to go by.
Step 2 – Talk to a real estate agent
That's where I come in.
I'd like to set up a time to meet with you and speak with you regarding your real estate needs and get an idea of your future plans.
We'll discuss the mortgage industry, other economic factors that may affect your purchase today or in the future, as well as neighborhoods and schools in the Rock Hill area.
I'll also assist you in getting started on your loan.
There are some great mortgage professionals in Rock Hill, and I work with a lot of them, so you can rest assured that you're in great hands.
They'll help you choose which kind of loan is best for you, as well as help you get qualified.
Step 3 – Begin your search
After our first meeting, I'll begin searching for available houses on the market that best suit you.
I'll research many of the houses and reject the duds, and then we'll set up appointments to view the houses whenever it's convenient for you.
When we tour houses, I'll call attention to positive features, as well as bad ones. I'll even ask you about things you like and don't like.
It's pretty common for buyers to revise their list of must-haves as we tour houses and some features become far more essential than others.
If such is the case, I'll search all the listings once more and narrow it down to the house of your dreams.
Step 4 – Comprehend the housing market
An agent's understanding of the Rock Hill market is an imperative component in your house search. And I assure you I'm conscious of all the neighborhoods and school districts, and I will communicate some neighborhoods are "hot" and warrant immediate action and some that are "cold" and allow for more examination.
When we view homes, I'll make sure to communicate if the list price has room for negotiation or if I believe the home is "priced to sell."
When working with an agent, be careful and make sure you ask plenty of questions. Any real estate agent will convince you they truly understand the housing market.
If it appears they don't know everything, just call me at 803-524-2530 or e-mail me at , and I'll be happy to answer any questions you might have. My understanding of the market will keep you a step ahead throughout the entire process.
Step 5 – Find the house you've been looking for
I'm positive we'll find your dream home in Rock Hill. When we do, I'll thoroughly create your purchase offer. The offer will be tailored with your needs in mind and the home, including many contingencies, such as getting financing, carrying out the home inspection, and a clear title.
When we turn in your purchase offer, you'll likely need to submit "earnest money." This is a cash deposit made to a home 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 within 30 to 60 days after. This allows ample time for your mortgage financing.
Step 6 – Negotiate
Most deals aren't closed on the beginning offer. It's extremely common to receive a counter offer. But don't let this alarm you. We'll discuss whether or not to agree to the counter offer, propose our own counter offer, or reject the seller's offer and move on.
How aggressively we negotiate the deal depends on market circumstances.
We'll also work within your financing limits. And when it's all said and done, we'll compose a deal that's best for you.
Step 7 – Get your loan
After the contract is complete, you'll start working with your mortgage lender to close the loan.
If you're already pre-qualified, it won't take very long at all, 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
You'll get a Loan Estimate (LE) outlining your closing costs from your lender within three days of receiving your loan application.
The estimate is formed from the loan amount, and RESPA requirements order that it has to include all closing costs and be within a tight range of accuracy. I'll analyze the estimate and let you know if everything looks okay.
Then we'll close on your house. This will most often occur at a title company or escrow office and will most likely be a smooth and comfortable event.
Step 9 – Move in
Congratulations! Now you can move into your new house. Enjoy it. And if you need anything or have any questions, be sure to contact me at 803-524-2530 or e-mail me at .