Purchasing your home in Englewood
For many people, buying a home is a stressful event. However, with a bit of up-front planning, it's not very complex.
So they know exactly what to expect, I will furnish buyers with an overview of the whole deal.
Here are my nine steps to buying a home.
When you're ready to get started, simply contact me here or e-mail me at . I'm glad to address any questions you have about this information.
Step 1 – Prepare to purchase
Prior to starting your home search, there are a lot of things you need to consider.
You'll want to create a check list of features you want to have, plan for what school districts and neighborhoods you want to live in, and start planning around your budget.
A good guideline to adhere to is that your mortgage payment should be less than a third of your monthly income.
Step 2 – Speak with a real estate agent in Englewood
That's where I can help.
We'll plan a time to meet so we can talk about your real estate needs and get an idea of your future plans.
We'll talk about everything from neighborhoods, school districts in the Englewood area, the mortgage industry, to any other economic factors that may affect your buying decision today or in the future.
I'll also help you facilitate the loan process.
There are some very good mortgage professionals in Englewood, and I work with a lot of them, so you can rest assured that you're in great hands.
They'll help you choose which kind of loan is best for you, as well as help you get approved.
Step 3 – Begin house hunting
After we meet for the first time, I'll begin looking for available homes on the market that meet your needs.
I'll get a sneak peek of most of the homes and remove the duds, and then we'll set up appointments to view the homes when it's most convenient for you.
When we tour the houses, I'll show you the good features and bad ones. I'll also ask you what things you like and don't like.
It's common for buyers to amend their wish list as we tour houses and some items become more important than others.
If that's the case, I'll look through the listings again and trim it down to the house you've been wishing for.
Step 4 – Get a grasp of the housing market
Your agent's awareness of the Englewood home market is a crucial aspect in your house search. And I can assure you I'm mindful of all the neighborhoods and schools, and I can let you know which districts are "hot" and call for prompt action and others that are "cold" and allow for careful analysis.
As we view houses, I'll be sure to tell you if the list price has room for bargaining or if I believe the home is "priced to sell."
Every real estate agent in Englewood will claim to truly know the market, but take notice, and be sure to ask your agent plenty of questions.
If it doesn't seem like they know everything, call me at (303) 843-1545 or e-mail me at , and I'll be happy to answer your questions. My understanding of the market will keep you a step ahead throughout the entire deal.
Step 5 – Find your dream home
I'm sure we'll find the house of your dreams in Englewood. When we do, I'll meticulously develop your real estate purchase offer. The offer will be made to suit your needs and the home. We'll include several contingencies, such as acquiring financing, completing the inspection, and a clean title.
When submitting your offer, you'll need to present "earnest money." This is a cash deposit made to the home seller to secure an offer to buy the property and is most often applied to the closing costs. If the offer is accepted by the seller, we should close on the property about 30 to 60 days after. This allows sufficient time for your mortgage financing.
Step 6 – Negotiate the deal
Unfortunately most deals aren't closed on the beginning offer. It's very common to receive a counter offer. Don't let it intimidate you. We'll talk over whether or not to take the counter offer, submit our own counter offer, or decline the seller's offer and move on.
Market conditions determine how aggressively we negotiate the contract.
In addition, we'll work within your financing budget. And when it's all said and done, we'll compose a deal that's best for you.
Step 7 – Get financing
After the contract is finalized, you'll begin working with your mortgage lender to close the loan.
If you've been pre-approved, this won't take long at all, but you need to keep in close contact with your lender.
And I'll care for all the property information your mortgage lender needs 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 getting your loan application.
The estimate rests on the loan amount, and RESPA requirements dictate that it has to involve all closing costs and fall within a close range of accuracy. I'll analyze the estimate and let you know if everything looks all right.
Then we'll close on your house. This will likely happen at a title company or escrow office and will probably be a smooth and stress-free event.
Step 9 – Move in
Congratulations! Now you can move into your new home. Enjoy it. And if you have any questions, simply call me at (303) 843-1545 or e-mail me at .