Are you contemplating purchasing your home in Englewood? Coldwell Banker Residential Brokerage can help.
Buying a home is an intimidating event for a lot of people. However, with a little planning ahead of time, it's not very difficult.
So they understand exactly what they can expect, I will give buyers an overview of the entire deal.
Here are my nine steps to purchasing a home.
If you have any questions about this information or if you're prepared to get started, just contact me here or e-mail me at .
Step 1 – Get ready to buy
There are plenty of things you need to take into account before you start looking for a home.
When you begin your search, you'll want to make an outline of items you need to have, get a feel for what neighborhoods and school districts you'd like to live in, and begin planning around your budget.
A good rule of thumb to follow is that your mortgage payment should be less than or around a third of your net monthly income.
Step 2 – Connect with a real estate agent
This is where I come in.
I'd be more than happy to schedule 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 the mortgage and housing industries, other economic factors that could affect your buying decision today or in the future, as well as neighborhoods and schools in the Englewood area.
I can also assist you in getting started on your loan.
Coldwell Banker Residential Brokerage partners with some of the finest mortgage professionals in Englewood, so you're in great hands.
They'll help you choose which type of loan is best for you, as well as help you get qualified.
Step 3 – Begin your home search
After our first meeting, I'll begin finding homes on the market that suit your needs.
I'll preview most of the homes and exclude the duds, and then we'll set up appointments to tour the houses when it's most convenient for you.
As we view homes, I'll point out good features, as well as bad ones. I'll also ask you to point out what things you like and dislike.
It's common for buyers to revise their must-have list as we tour houses and some items become far more necessary than others.
If that happens, I'll look through the listings once again and trim it down to the house of your dreams.
Step 4 – Comprehend the housing market
My knowledge of the Englewood market is a crucial component in your house search. I'm conscious of all the school districts and neighborhoods, and I'll communicate some neighborhoods are "hot" and call for prompt action and others that are "cool" and allow for more examination.
When we view houses, I'll be sure to tell you if the seller's list price has room for negotiation or if I believe the house is "priced to sell."
When working with an agent, be careful and make sure you ask a lot of questions, as any REALTOR in Englewood will tell you they understand the housing market.
If it seems like they don't know everything, just call me at (303) 843-1545 or e-mail me at , and I'd be more than happy to answer any questions you may have. My market knowledge will keep you a step above the rest throughout the entire deal.
Step 5 – Find the house you've been waiting for
I'm positive we'll find the home of your dreams in Englewood. When we do, I'll thoroughly create your home purchase offer. The offer will be tailored with your needs in mind and the home, including a lot of contingencies. A few examples are acquiring financing, finishing the inspection, and a clean title.
When we present your offer, you'll probably need to submit "earnest money." This is a cash deposit submitted to a seller to secure an offer to buy the property and is often applied to the closing costs. If your offer is accepted, we should close within 30 to 60 days after. This allows sufficient time for your mortgage financing.
Step 6 – Negotiate
Most deals aren't closed on the first offer, and it's widely common to receive a counter offer. Don't let this alarm you. We'll discuss whether or not to accept the counter offer, submit our own counter offer, or reject the seller's offer and go on.
How aggressively we negotiate the contract depends on market conditions.
We'll also work within your financing budget. And at the end of the day, we'll formulate a contract that is best for you.
Step 7 – Obtain a loan
After the contract is signed, you'll begin working with your mortgage lender to close the loan.
It won't be a long process at all if you're already pre-approved, but you should to keep in close contact with your lender.
And I'll care for all the property information your lender will need 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 getting your loan application. You'll get a Loan Estimate (LE) detailing your closing costs from your mortgage lender within three days of receiving your application.
The estimate is formed from the loan amount. RESPA requirements order that it has to involve all closing costs and fall within a narrow range of accuracy, and I'll analyze the estimate and let you know if it all looks okay.
Then we'll close on your home. This should happen at a title company or escrow office and will likely be a smooth and comfortable event.
Step 9 – Move in
Congratulations! Now you can move into your new home. Enjoy it. And if you need anything or have any questions, be sure to call me at (303) 843-1545 or e-mail me at .