Purchasing your home in Englewood
With a little up-front planning, purchasing a home isn't that confusing, but the event can be stressful for many people.
I like to furnish buyers with a road map of the whole deal so they'll understand exactly what to expect.
Below are my nine steps to buying a home.
If you have any questions about this information or if you're ready to get started, you can contact me here or e-mail me at .
Step 1 – Get ready to buy a home
Before you begin searching for a home, there are a lot of things you should contemplate.
When you begin your search, you'll probably want to form a list of must-have features, get a feeling for what neighborhoods and school districts you'd like to live in, and start working on your budget.
Ensuring your mortgage payment is less than or around 30 percent of your monthly income is a good principle to go by.
Step 2 – Talk to a real estate agent in Englewood
That's where I can help.
I'd like to book a time to meet with you and speak with you about why you want to buy a home and get an idea of your upcoming plans.
We'll talk about neighborhoods, schools in the Englewood area, the mortgage industry, and any additional economic factors that may potentially affect your purchase today or in the future.
I'll also help you start the loan process.
There are some very good mortgage professionals in Englewood, and I partner with a lot of them, so you're in great hands.
They will assist you in deciding which kind of loan is best for you and help you get approved.
Step 3 – Start house-hunting
After we meet for the first time, I'll start looking for available houses on the market that are good for you.
I'll preview many of the houses and throw out the duds, and then we'll book appointments to view the houses when it's most convenient for you.
As we tour the homes, I'll show you the positive features, as well as negative ones. And I'll ask you what things you like and don't like.
It's pretty common for buyers to change their list of must-haves as we view houses and some things become more important than others.
If that's the situation, I'll search the listings another time and narrow it down to the home of your dreams.
Step 4 – Know the housing market
My knowledge of the Englewood home market is a necessary element in your home search. I am mindful of all the neighborhoods and schools, and I'll let you know what neighborhoods are "hot" and warrant immediate action and the ones that are "cool" and allow for more examination.
When we view homes, I'll be sure to tell you when the seller's asking price has room for bargaining and also when I know the home is "priced to sell."
When working with an agent, be on guard and be sure to ask lots of questions. Every REALTOR in Englewood will tell you they understand the market.
If things don't add up, just call me at (303) 843-1545 or e-mail me at , and I'll be glad to answer your questions. My knowledge of the market will keep you a step ahead through the entire process.
Step 5 – Find your dream house
I'm certain we'll find the home of your dreams in Englewood. When that happens, I'll meticulously create your purchase offer. The offer will be made to fit your needs and the home. We'll include many contingencies, such as getting financing, finishing the inspection, and a clean title.
Upon turning in your offer, most likely you'll need to submit "earnest money." This is a cash deposit given to a home seller to secure the offer to purchase the property, and it's typically applied to the cost of closing. If your offer is accepted, we should close within 30 to 60 days afterward. This allows plenty of time for your mortgage financing.
Step 6 – Negotiate the deal
Unfortunately most contracts don't close on the beginning offer – it's really common to receive a counter offer. But don't let it intimidate you. We'll figure out whether or not to agree to the counter offer, propose our own counter offer, or reject the seller's offer and go on.
How aggressively we negotiate the deal depends on market circumstances.
In addition, we'll work within your financing budget. And when it's all said and done, we'll create a deal that's best for you.
Step 7 – Get your loan
After the deal is signed, you'll begin working with your lender to close the loan.
If you're pre-qualified, it won't be a long process at all, but you'll need 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
Your lender will send you a Good Faith Estimate (GFE) of your closing costs within three days of taking your application. You'll get a Good Faith Estimate (GFE) outlining closing costs from your mortgage lender within three days of receiving your application.
This estimate rests on the loan amount, and RESPA requirements order that it has to include all closing costs and fall within a narrow range of accuracy. I'll examine the estimate and let you know if it all looks permissible.
Then it's time to close on your home. This should happen at a title company or escrow office and will most likely be a smooth and easygoing affair.
Step 9 – Move in
Congratulations! It's time to move into your new house. Enjoy it. And if you need anything, make sure you call me at (303) 843-1545 or e-mail me at .