Buying a home with Steve

So, you're ready to Buy a home?

Let's take a look at that process from start to finish. What's involved, what you will need, and what to expect along the way.

Thinking of buying a home? I'd love to help!

The home buying process should be fun and enjoyable long as you know what’s going on and follow the process. With me in your corner as your buyers agent, I guarantee that it will be. Whether you are a 1st time home buyer with no idea what to do, or a seasoned investor just looking for good deals, I can help! If you are the 1st, I have created this plan below that will walk you through the process. Let’s get the 2 big questions out of the way then move onto the process!

What does hiring a buyers agent cost?

Typically nothing! In North Carolina the seller will typically pay Realtor fees including the listing agent commission as well as the buyers agents commission. You essentially will have a top notch agent in your corner representing you at no cost at all. No-brainer right, that’s why the majority of buyers will hire a buyers agent, even if they are experienced investors and don’t need an agent, it is good to hire 1 for liability reasons among many other things. In the rare case that the seller isn’t paying commission, then we will talk about options to make sure you still get representation on a case by case basis. If you’re an investor looking for off market deals, contact me about getting discount properties.

What does it cost to purchase a house?

Of course it depends! Everyone has a unique situation and there are programs and grants available for different scenarios. You could possibly get into a house for no upfront costs and no money out of your pocket. All the way up to 2-4% of the purchase price for closing costs, and a 20% downpayment. I will go over your situation with you and a lender and we will come up with the best plan for you. WE WILL WORK WITH YOUR LENDER TO FIGURE OUT THE BEST PLAN FOR YOUR SITUATION.

HOW THE BUYING PROCESS WORKS

LETS WALK THROUGH IT

Take a walk through the buying process below. Simple click the arrows to navigate your way through each of the steps along the path.

Step 1

CONNECT WITH STEVE

The first thing to do is reach out to me any way that is convenient to you and we can set up a phone conversation and go over your situation and needs and come up with an action plan to get the ball rolling.

Step 1

Step 2

GET PREQUALIFIED

Unless you are paying with cash, you will then need to get prequalified to purchase a home. I have several lenders and brokers that I work with and they all provide different programs and offer different things to meet your individual needs. You will have a phone conversation with one of them and get pre qualified to purchase. This will need to be complete to start seeing homes and the reasons are listed below in the FAQ.

Preferred Lender

Step 2

Step 3

BROCHURE / AGREEMENT

The last thing you will need to do before we start looking at houses is review the working with real estate agents brochure and sign a buyer agency agreement with me. The working with real estate agents brochure explains the duties of a buyer’s agent and explains my relationship with you, the client. We’ll then sign a buyer agency agreement to be able to see homes together. More on that in the FAQ.

Step 3

Step 4

LET'S FIND YOUR NEW HOME!

Now that you're prequalified and we have discussed what you are looking for it's time to start searching and let the fun begin. I will be looking for homes that fit your criteria, I’ll set up an email portal to send you homes that fit your criteria as they become available on the market. We’ll meet at the homes and I’ll give you a tour and get all of your questions answered to prepare you for making your offer!

Step 4

Step 5

HOMEWORK FOR THE OFFER

Once we find the house that you want to make an offer on I will gather all of the information on the property so that you fully understand what you're getting into and get all of your questions answered. I will also run a market analysis on the property so that you know what I think market value is and what the property will likely appraise for. I’ll call the listing agent to get as many details as possible so that we have all the details.

Step 5

INTERMISSION

SUMMARIZE THE OFFER

There are several components to an offer. The main parts are as follows, offer amount, closing date, and method of payment, due diligence time and deposit, and earnest money deposit. I will find out what is important to the seller and then we will discuss the imortance of each with you. There is an explanation of due diligence and earnest money in the FAQ. Both deposits will need to be made once a contract is agreed upon with the sellers, and you will not have any more out of pocket expenses until closing.

INTERMISSION

Step 6

EXECUTING THE OFFER

Once we have discussed your offer together, I’ll prepare it for your e-signatures and submit it to the listing agent. I will advise you and give you my recommendation but ultimately it will be 100% your decision and I am here to support you, negotiate on your behalf, and make that work for you. I will make sure that you have all of the information so that you can make the best decision and have the highest chance of acquiring your new home!

Step 6

Step 7

GETTING UNDER CONTRACT!

The listing agent will present your offer to the seller. The seller may accept your offer, they could also deny it or counter it. You will be informed every step of the way and it will be up to you on how the negotiations are handled but I will be in your corner trying to get you the best deal possible. If we can’t come to an agreement with the seller, you lose nothing and we move on to finding another home. If you do come to an agreement, then we will be under contract after both parties have signed and you will need to send out your earnest money deposit and due diligence fee.

Step 7

Step 8

DUE DILIGENCE PERIOD

Once we have concluded our due diligence we can renegotiate the contract again based on our findings. For example if you find $10,000 worth of undisclosed damage, we can ask the seller to reduce the price, make the necessary repairs, or pay contractors to make the repairs. it will be another negotiation and the seller may elect to counter, deny, or accept your request. Same thing if the appraisal comes in lower than purchase price, or if there are any title issues. If an agreement is made then we move forward with closing. If we can't come to agreement with the seller, you are able to walk away and collect your earnest money deposit back, but forfeit your due diligence fee.

Step 8

Step 9

CONCLUSION OF DUE DILIGENCE

Once we have concluded our due diligence we can renegotiate the contract again based on your findings. For example if you find $10,000 worth of damage we can ask the seller to reduce the price by $10,000, make the necessary repairs, or pay contractors to make the repairs. it will be another negotiation and the seller may elect to counter your request or accept. Same thing if the appraisal is lower thatn purchase price. If you can't come to agreement you are able to walk away and forfeit your due diligence fee . Then you each will sign an agreement and plan to move forward with closing.

Step 9

Step 10

FINAL STEPS & CLOSING

If we get to the end of the due diligence period and you decide that you want to close on the home, all that is left to do a final walkthrough at the house to make sure everything is as it should be. Other than that we will be waiting on your lender to finish the loan process and give us a clear to close. All that’s left to do is show up at the attorneys office on the closing date and sign paperwork.

Ckezepis law is our preferred attorney linked below and their rates are on the site.

Preferred Closing Attorney

Step 10

CONGRATULATIONS!!

Welcome Home!

WHY HIRE ME

Working with buyers to help them find a house is my favorite part of the job! I enjoy showing homes, meeting new people, and seeing different things each day. I will make sure that you are informed and that the process is as enjoyable as possible for everyone. I’m an experienced professional who knows the market very well. I’m excellent at communicating, very responsive, and great at negotiating to get you the best deal! I have a large network of contractors, investors, brokers, lenders, attorneys, and anything else you may need along the way. I’m thankful for the opportunity to help people and make a living doing what I love and I look forward to working together!

- Steve Zink

ANY QUESTIONS?

CONTACT STEVE TODAY AND GET THE ANSWERS YOU NEED!

COMMON QUESTIONS

Here are a few of the most common questions asked by buyers about the home purchasing process.

WHY DO I NEED TO GET PREQUALIFIED FOR A LOAN?

Many reasons! This process will let you know how much home you can afford, and what price range to shop for. The lender will also go over what your monthly payments, closing costs, down payment, and cash needed to close will be. We will need to know this information for your home search so we can narrow it down. Once you complete a mortgage application, then we’ll know which type of house we can look for together that best fits your needs. You will also be able to put yourself in a financial position to purchase so that there are no surprises during the proccess. Visit our preferred lender’s website here.

WHY DO I NEED TO READ THE BROCHURE AND SIGN A BUYER AGENCY AGREEMENT?

The brochure explains agency and it’s required by law that we go over it together. The agreement explains our relationship, commits us to eachother, and protects us from liability. It also gives us a client relationship where I have fiduciary duties to you and must keep your best interests in mind above all else. This agreement can be cancelled at anytime by either party but it allows us to work together and is required in order to see homes together.

WHAT IS THE DUE DILIGENCE PERIOD AND DEPOSIT?

In North Carolina the buyer can choose to have a due diligence period where they do all of their inspections in due diligence to find out everything that they could possibly want to know about the property. The length of time and the amount are negotiable and should vary on a case by case basis. You will have to pay the seller for this time that they have taken their home off the market in order for you to conduct your due diligence. This money will be paid to the seller immediately after an offer is accepted and cashed. If you close on the property this money will be credited towards the purchase amount. If you walk away for any reason you do not get this money back. This is 1 of 2 checks that will be cashed once a contract is agreed upon.

WHAT IS THE EARNEST MONEY DEPOSIT?

This is your good faith deposit which helps to show how committed you are to the purchase. The check will go to the attorney once a contract is signed and they will hold it in their escrow account until it needs to be dispersed. It will be credited towards your purchase price at closing. If you walk away for any reason before the due diligence period ends or if the seller breaches the contract then you will get this money back. The only way you will lose your earnest money deposit is if you breach the contract and walk away after that due diligence period ends. Everything else beside the due diligence fee earnest money deposit can be paid at closing, including inspections, appraisal, and other closing costs.

WHAT DO I NEED FOR CLOSING?

You will need a valid ID, and I will meet you there at the attorneys office. You will sign paperwork and should be finished within 30 minutes.

WHEN DO I GET THE KEYS?!

You will get your keys to your new home when the deed is recorded which normally happens on the same day, unless we close after 1pm. Sometimes the seller will give you the keys early at closing, and sometimes they will want to wait until the deed records. In the later case the attorney will contact you when the keys are ready for pickup.

STILL NOT CONVINCED?

Here are a few reviews from some of my most recent clients.

Zillow

I have worked with many realtors over the years and I can wholeheartedly endorse Steve! He’s hardworking and honest and has great insight through the process. Whether you’re looking to buy your next home or sell he’s your guy. Thanks for all your help Steve!

- Ed Hayes

Zillow

Steve was helpful and very easy to work with. We had an unique situation and some crazy requests. We are very happy with what we found. We would recommend Steve.

- Kyle Dlau

Zillow

Steve is a very professional and extremely knowledgeable agent. We appreciated his high level of responsiveness to our calls as we were under a time crunch due to living out of state. We will definitely use Steve again for any future real estate needs and highly recommend him for anyone looking to buy or sell property.

- Cindi Stalnaker

Zillow

Steve was excellent! He worked closely with me to find my dream home. He was knowledgeable and helpful for a first time homebuyer. We looked at a few houses, and talked about pros and cons and issues we noticed as we continued the hunt. I’m very happy with where I ended up, and his aid in negotiation.

- Ryan Beauchemin