Purchasing your new home in Englewood
Buying a home is stressful for many people, but it isn't that complicated with some up-front planning.
I like to give buyers an outline of the entire deal so they'll understand exactly what to expect.
These are my nine steps to purchasing a home.
If you have questions about this information or if you're prepared to get started, you can contact me here or send e-mail to firstname.lastname@example.org
Step 1 – Prepare to buy a home
Before you commence your home search, there are plenty of things you should take into account.
When you start your search, you'll want to create an index of items you need, get a feeling for what school districts and neighborhoods you'd like to live in, and begin planning your budget.
Ensuring your mortgage payment is no more than 1/3 of your monthly income is a good guideline to adhere to.
Step 2 – Communicate with a real estate agent in Englewood
This is where Coldwell Banker Residential Brokerage comes in.
I'll set up a time to get together so we can talk about why you want to buy a home and get an idea of your upcoming plans.
We'll talk about neighborhoods, school districts in the Englewood area, the mortgage and housing industries, and any additional economic factors that might affect your buying decision today or in the future.
I can also assist you in getting started on your loan.
I work with some of Englewood's finest mortgage professionals, so you'll be in great hands.
They will assist you in deciding which type of loan is best for you and help you get approved.
Step 3 – Begin your search
After we meet, I'll start finding houses on the market that suit your needs.
I'll research most of the homes and ignore the duds, and then we'll schedule appointments to tour the homes when it's most convenient for you.
When we view homes, I'll identify good features and negative ones. I'll even ask you about things you like and don't like.
It's widely common for buyers to change their list of must-haves as we view homes and some things become far more essential than others.
If that's the case, I'll go back through all the listings once more and trim it down to the home you've been waiting for.
Step 4 – Get a grasp of the market
My awareness of the Englewood home market is a necessary resource in your house search. I'm informed of all the neighborhoods and school districts, and I can alert you to certain neighborhoods are "hot" and require immediate action and the rest that are "cold" and allow for thoughtful analysis.
When we tour houses, I'll let you know if the asking price has room for negotiation or if I believe the home is "priced to sell."
Be careful and be sure to ask plenty of questions, as any real estate agent in Englewood will convince you they truly understand the home market.
If things don't add up, just call me at (303) 843-1545 or e-mail me at email@example.com, and I'll be happy to answer any questions you may have. My knowledge of the market will help you stay a step ahead throughout the entire process.
Step 5 – Find the house you've been looking for
I'm certain we'll find your dream house in Englewood. When we do, I'll carefully develop your real estate purchase offer. The offer will be tailored with your needs in mind, including a lot of contingencies. A few examples are obtaining financing, carrying out the home inspection, and a clear title.
When we turn in your offer, you'll probably want to present "earnest money." This is a cash deposit given to a seller to secure the offer to purchase the property. The amount is usually applied to the closing costs. If the offer is accepted by the seller, we should close on the property about 30 to 60 days afterward. This allows plenty of time for your mortgage financing.
Step 6 – Negotiate the deal
Most deals don't close on the initial offer – it's very common to receive a counter offer. But don't let it discourage you. We'll consider whether or not to accept the counter offer, present our own counter offer, or reject the seller's offer and move on.
The state of the market will play a role in how aggressively we negotiate the deal.
In addition, we'll work within your financing constraints. And at the end of the day, we'll put together a contract that's best for you.
Step 7 – Get financing
Upon completing the contract, you'll begin working with your lender to close the loan.
If you're pre-qualified, this shouldn't be a long process at all, but you need to stay in close contact with your lender.
And I'll deal with all the property information your lender needs to close the loan.>
Step 8 – Close the deal
Your mortgage lender will furnish you with a Good Faith Estimate (GFE) of closing costs within three days of accepting your application.
The estimate is based on the loan amount. RESPA requirements mandate that it has to contain all closing costs and fall within a tight range of accuracy, and I'll study the estimate and let you know if everything looks good.
Then it's time to close on your home. This will probably happen at a title company or escrow office and will most likely be a smooth and calm affair.
Step 9 – Move in
Congratulations! It's time to move into your new house. Enjoy it. And if you have any questions, just call me at (303) 843-1545 or send me an e-mail.