Buying or selling a home?
Purchasing a home intimidates a lot of people, but with some up-front planning, it isn't too complex.
So you'll know exactly what to expect, I like to give my buyers a road map of the entire deal.
These are my nine steps to buying a home.
Step 1 – Get ready to buy a home
There are several things you need to consider before starting your home search.
You'll most likely want to form an outline of items you need, plan for what neighborhoods and school districts you want to live in, and begin planning your budget.
Keeping your mortgage payment less than 30 percent of your net monthly income is a good rule of thumb to adhere to.
Step 2 – Contact a real estate agent
That's where I can help.
I'd be more than happy to set up a time to get together with you and communicate with you about your real estate needs and get an idea of your plans for the future.
We'll discuss everything from neighborhoods, school districts in the Englewood area, the mortgage industry, to any other economic factors that may potentially affect your buying decision today or in the future.
In addition, I'll assist you with getting started on your loan.
I work with some of the finest mortgage professionals in Englewood, so you're in great hands.
They will help you choose which kind of loan is best for you, as well as help you get qualified.
Step 3 – Start your home search
After our first meeting, I'll begin searching for available houses on the market that are a great fit for you.
I'll preview most of the homes and reject the duds, and then we'll schedule appointments to view the homes when it's convenient for you.
When we view houses, I'll identify good features, as well as negative ones. I'll even ask you about things you like and dislike.
It's common for buyers to revise their wish list as we view houses and some features become far more important than others.
If that's the situation, I'll look through all the listings once again and narrow it down to the home you've been dreaming about.
Step 4 – Understand the market
An agent's awareness of the Englewood market is a leading element in your house search. And I can assure you I'm conscious of all the neighborhoods and school districts, and I will alert you to which neighborhoods are "hot" and require immediate action and the rest that are "cold" and allow for more consideration.
As we tour houses, I'll make sure to communicate when the seller's asking price has room for negotiation and when I know the home is "priced to sell."
Be careful and be sure to ask lots of questions, as every REALTOR® in Englewood will claim to understand the home market.
If it doesn't seem like they know everything, call me at (303) 843-1545 or e-mail me at email@example.com, and I'd be glad to answer any questions you may have. My market knowledge will keep you a step ahead through the entire process.
Step 5 – Find the house you've been looking for
I'm sure we'll find the home of your dreams in Englewood. When that happens, I'll thoroughly create your purchase offer. The offer will be tailored keeping your needs in mind, including many contingencies. A few examples are acquiring financing, finishing the inspection, and a clear title.
Upon presenting your offer, most likely you'll need to present "earnest money." This is a cash deposit submitted to the seller to secure the offer to buy the property and is typically put towards the closing costs. If the offer is accepted by the seller, we should close about 30 to 60 days after. This allows plenty of time for your mortgage financing.
Step 6 – Negotiate
Unfortunately most deals don't close on the initial offer, and it's very common to receive a counter offer. Don't let it alarm you. We'll consider whether or not to consent to the counter offer, present our own counter offer, or refuse the seller's offer and go on.
How aggressively we negotiate the deal depends on the state of the market.
We'll also work within your financing constraints. And at the end of the day, we'll assemble a contract that works well for you.
Step 7 – Secure a loan
Once the deal is signed, you'll begin working with your mortgage lender to close the loan.
If you're pre-qualified, this shouldn't be a long process at all. However, you'll want 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
You'll get a Good Faith Estimate (GFE) outlining closing costs from your lender within three days of taking your application.
The estimate is based on the loan amount. RESPA requirements order that it has to involve all closing costs and fall within a strict range of accuracy, and I'll review the estimate and let you know if it all looks all right.
Then it's time to close on your home. This will most often take place at a title company or escrow office and will most likely be a smooth and comfortable affair.
Step 9 – Move in
You made it! It's time to move into your new home. Enjoy it. And if you need anything, make sure you contact me at (303) 843-1545 or send me an e-mail.