Buying or selling a home in Englewood? Coldwell Banker Residential Brokerage can help.
With some up-front planning, buying a home isn't very complicated, but the event is stressful for many people.
I like to supply buyers with an overview of the whole deal so they understand exactly what to expect.
Here are my nine steps to purchasing a home.
If you have questions regarding this information or if you're ready to get started, simply contact me here or e-mail me at .
Step 1 – Prepare to purchase
There are several things you should take into account before starting your home search.
It's likely that you'll want to assemble an outline of items you want to have, plan for what neighborhoods you'd like to live in, and start planning around your budget.
Keeping your mortgage payment less than 30 percent of your monthly income is a good guideline to adhere to.
Step 2 – Connect with a real estate agent in Englewood
This is where Coldwell Banker Residential Brokerage can help.
We'll set up a time to meet so we can talk about why you want to buy a home and get an idea of your future plans.
We'll discuss neighborhoods, school districts in the Englewood area, the mortgage industry, and any other economic factors that might affect your buying decision today or in the future.
In addition, I'll help you facilitate the loan process.
I work with some of the finest mortgage professionals in Englewood, so you can rest assured that you're in great hands.
They will help you choose which type of loan is best for you, as well as help you get approved.
Step 3 – Start looking for a house
After our initial meeting, I'll begin looking for homes on the market that are a good fit for you.
I'll preview most of the houses and throw out the bad ones, and then we'll book appointments to tour the homes whenever it's convenient for you.
When we view houses, I'll show you the positive features, as well as bad ones. And I'll ask you about things you like and dislike.
It's common for buyers to amend their wish list as we view homes and some things become more important than others.
If that's the case, I'll look through the listings again and narrow it down to the house you've been dreaming about.
Step 4 – Know the housing market
My awareness of the Englewood home market is a crucial factor in your house search. I'm acquainted with all the school districts and neighborhoods, and I can alert you to certain neighborhoods are "hot" and call for prompt action and others that are "cool" and allow for more examination.
When we tour houses, I'll make sure to communicate when the list price has room for negotiation and when I think the home is "priced to sell."
Every real estate agent will tell you they truly understand the housing market, but trust your instincts, and be sure to ask plenty of questions.
If it doesn't seem like they know everything, just call me at (303) 843-1545 or e-mail me at , and I'll be more than happy to answer any questions you have. My market knowledge will help you stay a step above the rest throughout the entire process.
Step 5 – Find your dream home
I'm sure we'll find your dream house in the Englewood area. When we do, I'll precisely develop your real estate purchase offer. The offer will be made to fit your needs and the home. We'll include a lot of contingencies, such as obtaining financing, carrying out the inspection, and a clean title.
When we send in your offer, you'll need to present "earnest money." This is a cash deposit made to a seller to secure an offer to purchase the property. The amount is typically put towards the cost of closing. If the seller accepts your offer, we should close on the home about 30 to 60 days afterward. This allows sufficient time for your mortgage financing.
Step 6 – Negotiate
A lot of deals aren't closed on the beginning offer – it's widely common to receive a counter offer. But don't let this alarm you. We'll talk over whether or not to consent to the counter offer, submit our own counter offer, or decline the seller's offer and go on.
Market circumstances determine how aggressively we negotiate the deal.
In addition, we'll work within your financing constraints. And when it's all said and done, we'll compose a deal that is best for you.
Step 7 – Secure financing
Once the contract is signed, you'll begin working with your mortgage lender to close the loan.
It shouldn't take very long at all if you're already pre-approved, but you should to stay in close contact with your lender.
And I'll handle all the property information your lender needs to close the loan.
Step 8 – Close the deal
Your lender will give you a Loan Estimate (LE) outlining your closing costs within three days of receiving your application. You'll get a Loan Estimate (LE) outlining closing costs from your lender within three days of accepting your application.
The estimate depends on the loan amount, and RESPA requirements require that it has to include all closing costs and be within a close range of accuracy. I'll review the estimate and let you know if it all looks permissible.
Then it's time to close on your house. This should occur at a title company or escrow office and will most often be a smooth and stress-free event.
Step 9 – Move in
Congratulations! It's time to move into your new house. Enjoy it. And if you have any questions, simply call me at (303) 843-1545 or e-mail me at .