Buying your home in Charlotte with Tanya Lovejoy-Capers, Broker, ABR, CNHS, CRS, e-PRO

Purchasing a home can be stressful for many people. However, with some planning ahead of time, it's not very complex. So you understand exactly what to expect, I like to give my buyers a road map of the whole deal. These are my nine steps to purchasing a home.

Step 1 – Prepare to buy a home
Prior to beginning your home search, there are many things you need to do. When you begin your search, you'll want to create a check list of items you want to have, plan for what neighborhoods and school districts you want to live in, and begin planning your budget. Ensuring your mortgage payment is no more than a third of your net monthly income is a good guideline to follow.

Step 2 – Contact a real estate agent
This is where Tanya Lovejoy-Capers, Broker, ABR, CNHS, CRS, e-PRO can help. I'll plan a time to get together so we can talk about your real estate needs and get an idea of your plans for the future. We'll talk about the mortgage industry, other economic factors that could affect your purchase today or in the future, as well as neighborhoods and schools in the Charlotte area.

I can also help you start the loan process. I work with some of Charlotte's finest mortgage professionals, so you can rest assured that you're in great hands. They can assist you with choosing which kind of loan is best for you and help you get approved.

Step 3 – Start house-hunting
After we meet for the first time, I'll begin finding available homes on the market that suit your needs. I'll get a sneak peek of most of the homes and throw out the duds, and then we'll set up appointments to tour the homes whenever it's most convenient for you.

When we tour the homes, I'll point out positive features, as well as negative ones. I'll also ask you to tell me about things you like and don't like. It's widely common for buyers to update their list of must-haves as we tour homes and some features become more crucial than others. If such is the case, I'll search all the listings one more time and trim it down to the home you've been waiting for.

Step 4 – Get a grasp of the housing market
My understanding of the Charlotte housing market is a fundamental advantage in your search. I'm familiar with all the schools and neighborhoods, and I'll alert you to what neighborhoods are "hot" and call for prompt action and the others that are "cold" and allow for careful consideration.

When we tour houses, I'll make sure to communicate when the seller's list price has room for bargaining and when I think the house is "priced to sell." Be careful and make sure you ask your agent a lot of questions, as any REALTOR^® will tell you they truly know the housing market. If it doesn't seem like they know everything, call me at (704) 458-6012 or e-mail me at TanyaLovejoy-Capers@theTLCtouch.com, and I'll be glad to answer any questions you may have. My understanding of the market will help you stay a step ahead through the entire process.

Step 5 – Find the house you've been waiting for
I know we'll find your dream home in Charlotte, and when that happens, I'll precisely 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 your ability to secure financing and the results of the home inspection.

When presenting your offer, you'll likely want to submit "earnest money." This is a cash deposit submitted to the home seller to secure the offer to buy the property, and it's most often applied to the closing costs. If the seller accepts the offer, we should close on the property about 30 to 60 days after. This allows necessary time for your mortgage financing.

Step 6 – Negotiate the deal
A lot of contracts aren't closed on the beginning offer, and it's really common to receive a counter offer. But don't let this intimidate you. We'll figure out whether or not to agree to the counter offer, present our own counter offer, or reject the seller's offer and move on.

How aggressively we negotiate the deal depends on market circumstances. In addition, we'll work within your financing budget. And when it's all said and done, we'll formulate a contract that's best for you.

Step 7 – Obtain financing
Upon completion of the deal, you'll start working with your lender to close the loan. It won't take very long at all if you've been pre-approved, but you should to keep in close contact with your mortgage lender. And I'll deal with all the property information your mortgage lender will need to close the loan.>

Step 8 – Close the deal
Your lender will provide you with a Good Faith Estimate (GFE) detailing closing costs within three days of receiving your application. The estimate depends on the loan amount, and RESPA requirements dictate that it has to contain all closing costs and fall within a precise range of accuracy. I'll analyze the estimate and let you know if it all looks good.

Then we'll close on your house. This will likely take place at a title company or escrow office and will most often be a smooth and relaxed affair.

Step 9 – Move in
Congratulations! Now you can move into your new home. Enjoy it. And if you need anything or have any questions, simply call me at (704) 458-6012 or send me an e-mail.