Buying A Home: Just A Few Simple Steps - Part 2
Posted by RealEstate_Guru
In Part 1 of this article about how to purchase real estate in Raleigh, North Carolina, we discussed the steps needed to get ready to buy a house. In Part 2 of this series about finding real estate to purchase in Raleigh, North Carolina, we’ll discuss how to find a property and negotiate a fair price.
1. Get everything in place. You’re going to need a loan officer at the bank, a real estate attorney and a home inspector, at the very least. If you’re planning on buying a “fixer upper,” have a reputable contractor on your team as well. Depending on the locality, you may need contacts in the zoning or building departments of the town where you’re buying the property, especially if you’re planning on remodelling or any work that may require permits from the local municipality.
2. Use all possible resources. The Internet is a great source of information and education. Also, your agent may be able to get you access to listings available through his company or through others. Some towns and cities have real estate TV and radio shows that can be a wealth of good information about local issues. Be sure you understand the local government and its policies.
3. Visit properties with your agent. Draw on your agent’s understanding and expertise. He or she can point out feature or facets of a property that you might miss or be unaware of.
4. Place a reasonable offer. Even if a property is in relative disrepair, it has intrinsic value. Placing an offer can be tricky because although you want to get the property for the best possible price, you risk alienating the seller if your offer is excessively low. Be sure your offer is in the proper legal form on the correct legal form or document.
5. Negotiate the price. Although this can be the most exciting part of buying a home, it can also be the most stressful. Keep your emotions and impulses in check and let reason and common sense rule the process as much as possible. Rely on your agent’s expertise and advice and try to see the seller’s side of any issues that might crop up.
6. Once the offer is accepted, sign the contract and have your attorney review it
7. Have the property inspected by a professional.
8. Apply for a mortage.
9. Handle other legal issues like being sure there’s a clear title to the property.
10. Close the deal and take possession of the property.
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