Purchasing your home in Englewood with Coldwell Banker Residential Brokerage
With a little planning ahead of time, purchasing a home isn't that confusing, but the event intimidates many people.
So you know exactly what to expect, I like to give my buyers a road map of the whole deal.
Here are my nine steps to purchasing a home.
Should you have questions about this information or if you're ready to get started, you can contact me here or send e-mail to firstname.lastname@example.org
Step 1 – Get ready to purchase
There are a lot of things you need to contemplate prior to starting your home search.
You'll probably want to assemble a checklist of items you want, get a feeling for what school districts and neighborhoods you'd like to live in, and begin working on your budget.
Keeping your mortgage payment less than 30 percent of your monthly income is a good guideline to follow.
Step 2 – Speak with a real estate agent in Englewood
This is where I come in.
I'd be more than happy to set up a time to meet with you and speak with you about why you want to buy a home and get an idea of your future plans.
We'll discuss everything from neighborhoods, schools in the Englewood area, the mortgage and housing industries, to any other economic factors that could affect your purchase today or in the future.
In addition, I'll help you get started on your loan.
There are some excellent mortgage professionals in Englewood, and I partner with a lot of them, so you can rest assured that you're in great hands.
They can assist you in figuring out which kind of loan is best for you and help you get qualified.
Step 3 – Start looking
After our initial meeting, I'll begin searching for homes on the market that are great for you.
I'll get a sneak peek of many of the homes and ignore the bad ones, and then we'll set up appointments to tour the homes when it's most convenient for you.
When we view the houses, I'll identify good features and bad ones. I'll also ask you to point out what things you like and don't like.
It's widely common for buyers to amend their must-have list as we view homes and some features become more substantial than others.
If that happens, I'll go back through all the listings once again and trim it down to the house you've been dreaming about.
Step 4 – Know the market
An agent's knowledge of the Englewood market is a fundamental factor in your house search. And I assure you I'm familiar with all the neighborhoods and schools, and I will communicate some districts are "hot" and demand prompt action and the ones that are "cool" and allow for thoughtful examination.
When we tour homes, I'll be sure to tell you when the asking price has room for negotiation and also when I believe the house is "priced to sell."
Be mindful and be sure to ask plenty of questions, as any real estate agent will convince you they know the housing market.
If it seems like they don't know everything, contact me at (303) 843-1545 or e-mail me at email@example.com, and I'll be glad to answer your questions. My market knowledge will help you stay a step ahead through the entire process.
Step 5 – Find the home of your dreams
I'm positive we'll find your dream home in the Englewood area. When that happens, I'll meticulously develop your purchase offer. The offer will be tailored exactly to your needs, including several contingencies, such as acquiring financing, finishing the inspection, and a clean title.
When turning in your offer, you'll want to present "earnest money." This is a cash deposit given to a seller to secure the offer to buy the property. The amount is often put towards the closing costs. If your offer is accepted by the seller, we should close on the home about 30 to 60 days afterward. This allows necessary time for your mortgage financing.
Step 6 – Negotiate the deal
Unfortunately most deals don't close on the initial offer – it's very common to receive a counter offer. But don't let it alarm you. We'll talk about whether or not to accept the counter offer, submit our own counter offer, or reject the seller's offer and move on.
The state of the market determines how aggressively we negotiate the contract.
In addition, we'll work within your financing limits. And at the end of the day, we'll put together a contract that is best for you.
Step 7 – Secure financing
Once the contract is finalized, you'll start working with your mortgage lender to close the loan.
If you've been pre-approved, it won't take long at all. However, you'll need to keep 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) detailing your closing costs from your mortgage lender within three days of getting your application.
The estimate rests on the loan amount, and RESPA requirements require that it has to include all closing costs and fall within a strict range of accuracy. I'll analyze the estimate and let you know if it all looks okay.
Then it's time to close on your home. This should occur at a title company or escrow office and will most often be a smooth and easygoing event.
Step 9 – Move in
Congratulations! It's time to move into your new home. Enjoy it. And if you have any questions, just call me at (303) 843-1545 or send me an e-mail.