Step 1 – Get ready to buy

The Advantages √ Know how much house you can afford. √ Know how much cash you will need for the down payment. √ Simplifies pre-approval.

Before you begin searching for a home, there are many things you'll want to consider. The first thing you should do is to get prequalified. A number of factors determine the price range of homes you'll want to preview - one of these factors is loan pre-qualification.

To assist you in this process, EQUITY SAVER PLUS REALTY will introduce you to in Cary, Raleigh & Wake County's finest mortgage professionals, so you'll be in great hands. They will assist you in making an informed decision as to the type of loan that will fit your financial status and goals. There are many different types of loans to consider - FHA, VA, USDA, Conventional and other Credit Loans.

When you are ready to begin your search, you'll want to form an index of features you want to have based on your lifestyle, get a feel for what school districts and neighborhoods you'd like to live in, and start planning your budget. Ensuring your mortgage payment is no more than 30 percent of your net monthly income is a good principle to adhere to.

Step 2 – Talk to a real estate agent
This is where we can help. We can book a time to meet so we can talk about your lifestyle and your short and long term plan.  These factors will greatly infulence the price and the type of home that you will buy.  We'll talk about everything from neighborhoods, school districts in the area, the mortgage industry, to any other economic factors that might affect your buying decision today or in the future.

In addition, Step 3 – Start your home search
After we meet for the first time, we'll start finding homes on the market that are a good fit for you and then schedule appointments to view the houses whenever it's most convenient for you.

When we tour houses, we'll call attention to good features, as well as negative ones. And we'll ask you to talk about things you like and don't like. Oftentimes, buyers change their list of must-haves as we tour houses and some features become far more essential than others. If that's the situation, we'll look through the listings once more and trim it down to the home you've been waiting for.

Step 4 – Get a feel for the market
Our understanding of the Cary, Raleigh, Wake County home market is a fundamental resource in your search. We are familiar with all the school districts and neighborhoods, and we can communicate certain areas are "hot" and require prompt action and others that are "cool" and allow for thoughtful consideration.

Step 5 – Find the home of your dreams
We're sure we'll find the home of your dreams in the Cary, Raleigh or surrounding area of Wake County. When we do, we'll meticulously develop your real estate purchase offer. The offer will be tailored with your needs in mind, including several contingencies. A few examples are obtaining financing, finishing the home inspection, and a clean title.

When we send in your offer, you'll need to submit "earnest money." This is a cash deposit given to a home seller to secure an offer to buy the property. The amount is most often applied to the closing costs. If your offer is accepted, we should close within 30 to 60 days after. This allows plenty of time for your mortgage financing.

Step 6 – Negotiate
A lot of deals aren't closed on the initial offer. It's extremely common to receive a counter offer. Don't let this intimidate you. We'll talk over whether or not to accept the counter offer, submit our own counter offer, or reject the seller's offer and move on.

Market circumstances will play a role in how aggressively we negotiate the contract. In addition, we'll work within your financing constraints. And at the end of the day, we'll compose a deal that works well for you.

Step 7 – Obtain a loan
Once we sign the final contract, you'll start working with your lender to close the loan. If you've been pre-approved, this won't take long at all. However, you'll need to stay in close contact with your lender. And we'll manage all the property information your mortgage lender will need to close the loan.

Step 8 – Close the deal
Your lender will give you a Good Faith Estimate (GFE) detailing your closing costs within three days of taking your application. You'll get a Good Faith Estimate (GFE) detailing your closing costs from your lender within three days of accepting your loan application. The estimate depends on the loan amount. RESPA requirements mandate that it has to contain all closing costs and fall within a strict range of accuracy, and we'll go over the estimate and let you know if it all looks good.

Then we'll close on your home. This will likely take place at your attorney's office and it is relatively short and quick.

Step 9 – Move in
Congratulations! It's time to move into your new home. Enjoy it. And if you have any questions, EQUITY SAVER PLUS REALTY will surely be there to assist you. Feel free to call us at (919) 388-9300 or send us an e-mail.