Are you buying your home in Sevierville? Great Smoky Investments Corp. can help.
Buying a home intimidates many people. However, with some planning ahead of time, it isn't too difficult. I like to furnish buyers with a road map of the entire deal so they'll understand exactly what to expect. These are my nine steps to purchasing a home.
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If you have questions regarding this information or if you're prepared to get started, just contact me here. | ||
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Step 1 – Prepare to buy
Before you start your home search, there are plenty of things you need to contemplate. You'll most likely want to make a checklist of features you want, get an idea of what school districts you want to live in, and start planning around your budget. Keeping your mortgage payment less than or close to 30 percent of your net monthly income is a good guideline to go by.
Step 2 – Contact a real estate agent
This is where I come in. I'd be more than happy to plan a time to get together with you and talk about why you want to buy a home and get an idea of your plans for the future. We'll discuss the mortgage industry, other economic factors that might affect your buying decision today or in the future, as well as neighborhoods and school districts in the Sevierville area.
In addition, I'll help you begin the loan process. Great Smoky Investments Corp. works with some of Sevierville's finest mortgage professionals, so you can rest assured that you're in great hands. They can assist you with determining which kind of loan is best for you and help you get approved.
Step 3 – Start your search
After we meet, I'll begin looking for available houses on the market that suit your needs. I'll get a sneak peek of most of the houses and exclude the duds, and then we'll set up appointments to view the houses when it's most convenient for you.
When we view homes, I'll show you the positive features, as well as bad ones. I'll even ask you to tell us about things you like and dislike. It's widely common for buyers to amend their must-have list as we tour houses and some things become more essential than others. If that's the situation, I'll look through the listings another time and trim it down to the house of your dreams.
Step 4 – Get a feel for the market
My awareness of the Sevierville home market is an essential advantage in your home search. I am acquainted with all the schools and neighborhoods, and I'll let you know which districts are "hot" and call for prompt action and the ones that are "cold" and allow for cautiousness.
As we view houses, I'll let you know if the asking price has room for bargaining or if I believe the house is "priced to sell." Be on guard and make sure you ask your agent lots of questions, as every REALTOR® in Sevierville will claim to understand the market. If things don't add up, call me at 865-774-0006 or e-mail me at amanda@greatsmokyinvestments.com, and I'd be more than happy to answer your questions. My knowledge of the market will keep you a step above the rest through the entire deal.
Step 5 – Find the house of your dreams
We'll find the home of your dreams in Sevierville, and when that happens, I'll carefully develop your purchase offer. The offer will be tailored with your needs in mind. Whenever necessary, I never forget to make contracts contingent upon items like obtaining financing and the results of the home inspection.
When submitting your offer, you'll need to present "earnest money." This is a cash deposit submitted to a seller to secure an offer to buy the property and is usually applied to the closing costs. If the offer is accepted, we should close on the home within 30 to 60 days afterward. This allows ample time for your mortgage financing.
Step 6 – Negotiate
A lot of contracts aren't closed on the first offer – it's very common to receive a counter offer. But don't let this intimidate you. We'll talk over whether or not to take the counter offer, present our own counter offer, or refuse the seller's offer and go on.
The state of the market determines how aggressively we negotiate the deal. In addition, we'll work within your budget. And at the end of the day, we'll create a contract that works well for you.
Step 7 – Obtain a loan
After the deal is signed, you'll start working with your lender to close the loan. If you're pre-approved, it won't take long at all. However, you'll need to keep in close contact with your mortgage lender. And I'll take care of all the property information your mortgage lender needs to close the loan.
Step 8 – Close the deal
You'll get a Good Faith Estimate (GFE) outlining closing costs from your lender within three days of accepting your application. The estimate rests on the loan amount. RESPA requirements mandate that it has to involve all closing costs and fall within a precise range of accuracy, and I'll analyze the estimate and let you know if everything looks okay.
Then we'll close on your home. This will most likely occur at a title company or escrow office and will probably be a smooth and stress-free affair.
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 call me at 865-774-0006.
