Steps to Purchasing a Home in Rocky Mount, NC
There are numerous steps to the home buying process and multiple points within each step. By working with a REALTOR®, you will be able to navigate from contract to closing knowing you have a knowledgeable expert on your side.
1. You've decided to become a home owner. Diligence has been taken in saving the funds needed during the purchase process. You have insured that your credit report is clean and your credit score is the range needed to obtain a loan. You are ready to move forward.
2. Finding an agent that you can trust and work with is the next step in the process. Talk with your friends, parents and co-workers, do they have a recommendation. Ask questions to see if the agent matches your decision making style.
3. Start the loan process by meeting with a Mortgage Officer and receiving a pre-approval letter as well as determining how much you can afford. The pre-approval letter will lend creditability to your offer and make it more desirable to a seller.
4. Now it is time to find that property that you will eventually call home. Determine your must haves and amenities that would be nice to have, but are not necessarily deal breakers. The agent will assist in narrowing down your search.
After choosing the right home, your agent will assist you through the offer and negotiation process. Making a solid offer will reduce the stress and worry over whether the seller will accept your terms.
5. The due diligence process is the time in which you will secure your financing, have inspections completed, choose an attorney to handle the title work and negotiate any needed repairs. During this time you will also obtain insurance, notify your landlord of your departure and other time sensitive tasks.
6. The closing is a two-step process that occurs normally in the same day. The first is the meeting with the attorney to sign all the documents necessary to finalize the loan. The second part is when the attorney's office actually records the deed and deed of trust. At this point the home becomes yours.
7. Beyond the closing, you will need to maintain certain documents for tax purposes, have utilities turned on and finally move into your new home.
As a REALTOR® in the Rocky Mount area, I can assist you will the home buying process and help you connect with the many different professionals that it takes to get you from contract to closing.
Pictures courtesy of Microsoft Office.com