Everyone thinks purchasing a new home is complicated and the truth is…they are right.
In addition to managing your own work, family, and social responsibilities, you have to navigate a myriad of steps and tasks required to purchase a home.
That’s why so many people rank buying and/or selling a home as among the most stressful times in their lives.
The following list is not exhaustive. For some buyers, there may be many more steps involved. For others, i.e., a cash buyer, the process can be much simpler.
This is a high-level overview, but should give you a good idea about what’s involved in purchasing a new home.
And remember…you, too, can buy a home in just fifteen simple steps!
Just don’t forget your Realtor®!
Fifteen Simple Steps To Buying a Home in North Carolina Getting Started & Finding Your Home
Get pre-qualified or, even better, pre-approved for a home mortgage loan by a mortgage loan professional.
Determine your monthly budget. A mortgage professional can help you figure out exactly what your highest and most comfortable monthly payments will be and how that translates into purchase price.
Hire a Realtor®. You will need to review and sign a few papers up front, but they are mostly for your protection. Examples of the forms you’ll review and sign in North Carolina are: Working with Agents, RESPA, and Exclusive Buyer Agency. You will also be asked to confirm receipt of a sample Offer to Purchase & Contract, a Q&A on Home Inspections, and a sample Professional Services Disclosure. Come to think of it, you might just want to talk to a Realtor® first. In the majority of transactions, the seller will pay 100% of your agent’s commission, so hiring a Realtor® shouldn’t cost the buyer any money.
Determine where you want to live. What general area and which specific neighborhoods do you like? Do you want or need to be in a specific school district? If you are relocating, you may not know much about the area, but your Realtor® can help you with this. You will also need to decide what size and style of home you want to buy, which specific features you can not live without, where to look if restricted by loan type (i.e. USDA), whether or not you want to live in a neighborhood with a Home Owner’s Association (HOA), etc.
Review homes and neighborhoods online with your agent. Narrow down your list of prospective homes and schedule a tour with your Realtor®.
Please contact me directly if you or someone you know would like to know more about buying and selling real estate in the Carolinas.
Jimmy Grappone is a Realtor® living in the Charlotte area for nearly a decade. His hobbies include fishing, playing golf, watching football, and writing articles about things that interest him. Jimmy is a licensed Realtor® with Allen Tate Company in North Carolina and South Carolina. He is passionate about helping his clients find shelter and having a good time along the way!
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Social Media: @jimmygrappone
Online: http://www.jimmygrappone.com & http://www.itsjimmyon.blogspot.com