Are you contemplating buying your home in Englewood?
Purchasing a home is an intimidating event for many people, but it isn't all that complicated with a bit of planning ahead of time.
So you'll know exactly what to expect, I like to give my buyers an overview of the entire deal.
Here are my nine steps to purchasing a home.
When you're ready to get started, you can contact me here or send me e-mail
. I'm glad to address questions you have about this information.
Step 1 – Get ready to purchase
Before you begin looking for a home, there are several things you should consider.
When you begin your search, you'll want to assemble a checklist of features you want, get an idea of what neighborhoods you want to live in, and start working on your budget.
Keeping your mortgage payment less than or around a third of your monthly income is a good guideline to follow.
Step 2 – Contact a real estate agent in Englewood
This is where I can help.
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 future plans.
We'll talk about everything from neighborhoods, schools in the Englewood area, the mortgage and housing industries, to any other economic factors that may potentially affect your purchase today or in the future.
In addition, I'll help you get started on your loan.
Coldwell Banker Residential Brokerage partners with some of Englewood's best mortgage professionals, so you'll be in great hands.
They can help you choose which type of loan is best for you, as well as help you get approved.
Step 3 – Start your home search
After we meet for the first time, I'll begin searching for available homes on the market that are great for you.
I'll research most of the houses and exclude the bad ones, and then we'll set up appointments to view the homes when it's most convenient for you.
As we view homes, I'll call attention to positive features, as well as negative ones. I'll also ask you what things you like and don't like.
It's widely common for buyers to update their must-have list as we view homes and some features become more essential than others.
If that's the case, I'll go back through the listings once again and trim it down to the home of your dreams.
Step 4 – Know the housing market
An agent's understanding of the Englewood market is a necessary element in your house search. And I assure you I'm conscious of all the school districts and neighborhoods, and I'll let you know which areas are "hot" and call for immediate action and the others that are "cold" and allow for careful consideration.
As we tour houses, I'll let you know when the asking price has room for bargaining and when I think the house is "priced to sell."
When working with an agent, be on guard and be sure to ask a lot of questions, as every REALTOR® in Englewood will convince you they truly know the home market.
If it appears they don't know everything, contact me at (303) 843-1545 or e-mail me at firstname.lastname@example.org, and I'd be happy to answer your questions. My knowledge of the market will help you stay a step ahead through the entire process.
Step 5 – Find the home you've been looking for
I'm certain we'll find the home of your dreams in Englewood. When we do, I'll meticulously develop your purchase offer. The offer will be tailored exactly to your needs, including a lot of contingencies, such as acquiring financing, carrying out the home inspection, and a clear title.
When presenting your offer, you'll likely need to submit "earnest money." This is a cash deposit given to a home seller to secure an offer to purchase the property, and it's often applied to the cost of closing. If the offer is accepted by the seller, we should close within 30 to 60 days after. This allows ample time for your mortgage financing.
Step 6 – Negotiate the deal
A lot of contracts aren't closed on the beginning offer. It's really common to receive a counter offer. Don't let this alarm you. We'll discuss whether or not to take the counter offer, submit our own counter offer, or decline the seller's offer and move on.
Market circumstances determine how aggressively we negotiate the contract.
In addition, we'll work within your financing constraints. And when it's all said and done, we'll assemble a deal that is best for you.
Step 7 – Obtain your loan
After we sign the final deal, you'll begin working with your mortgage lender to close the loan.
If you're pre-approved, this shouldn't take long at all, but you'll need to stay in close contact with your mortgage lender.
And I'll sort out all the property information your mortgage lender will need to close the loan.>
Step 8 – Close the deal
You'll get a Good Faith Estimate (GFE) of your closing costs from your lender within three days of taking your application.
This estimate is formed from the loan amount. RESPA requirements mandate that it has to contain all closing costs and fall within a precise range of accuracy, and I'll review the estimate and let you know if everything looks permissible.
Then we'll close on your house. This should occur at a title company or escrow office and will probably be a smooth and stress-free event.
Step 9 – Move in
You made it! It's time to move into your new house. Enjoy it. And if you need anything, simply contact me at (303) 843-1545 or send me an e-mail.