Buying or selling a home in Englewood? Coldwell Banker Residential Brokerage can help.
Purchasing a home is intimidating for most people. However, with some planning ahead of time, it isn't too confusing.
I like to give buyers a road map of the whole deal so they'll understand exactly what they can expect.
These are my nine steps to buying a home.
Should you have any questions about any of this information or if you're ready to get started, just contact me here or e-mail me at .
Step 1 – Get ready to purchase a home
There are plenty of things you need to consider prior to beginning your home search.
When you start your search, you'll want to make a list of features you need to have, plan for what school districts you'd like to live in, and start planning around your budget.
Ensuring your mortgage payment is less than or close to 30 percent of your monthly income is a good rule of thumb to follow.
Step 2 – Talk to a real estate agent in Englewood
This is where Coldwell Banker Residential Brokerage can help.
I'd be more than happy to schedule a time to meet with you and communicate with you regarding why you want to buy a home and get an idea of your upcoming plans.
We'll discuss the mortgage and housing industries, other economic factors that might affect your buying decision today or in the future, as well as neighborhoods and school districts in the Englewood area.
I'll also 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 help you decide which kind of loan is best for you, as well as help you get qualified.
Step 3 – Start your home search
After our initial meeting, I'll start looking for available homes on the market that meet your needs.
I'll research many of the homes and exclude the bad ones, and then we'll book appointments to view the homes when it's convenient for you.
When we tour houses, I'll identify good features, as well as bad ones. And I'll ask you to talk about things you like and dislike.
Generally, buyers amend their list of must-haves as we tour homes and some features become more necessary than others.
If that's the case, I'll go back through the listings once again and trim it down to the home of your dreams.
Step 4 – Understand the market
An agent's understanding of the Englewood housing market is an essential aspect in your home search. And I can assure you I'm acquainted with all the neighborhoods and schools, and I will communicate which neighborhoods are "hot" and demand immediate action and some that are "cool" and allow for thoughtful analysis.
As we view houses, I'll make sure to communicate if the list price has room for bargaining or if I believe the house is "priced to sell."
When working with an agent, be on guard and be sure to ask a lot of questions. Every REALTOR in Englewood will claim to comprehend the home market.
If it doesn't seem like they know everything, just call me at (303) 843-1545 or e-mail me at , and I'll be glad to answer any questions you may have. My knowledge of the market will keep you a step ahead through the entire deal.
Step 5 – Find the home you've been waiting for
We'll find your dream house in Englewood, and when we do, I'll precisely develop your home purchase offer. The offer will be tailored exactly to your needs and the home, including a lot of contingencies. A few examples are getting financing, carrying out the inspection, and a clear title.
When turning in your offer, most likely you'll want to present "earnest money." This is a cash deposit given to the seller to secure the offer to buy the property and is usually put towards the cost of closing. If the seller accepts your offer, we should close on the home within 30 to 60 days after. This allows necessary time for your mortgage financing.
Step 6 – Negotiate the deal
A lot of deals don't close on the initial offer, and it's extremely common to receive a counter offer. Don't let it discourage you. We'll consider whether or not to consent to the counter offer, present our own counter offer, or decline the seller's offer and go on.
Market circumstances determine how aggressively we negotiate the contract.
We'll also work within your financing constraints. And when it's all said and done, we'll formulate a deal that works well for you.
Step 7 – Secure your loan
Upon completing the deal, you'll start working with your mortgage lender to close the loan.
If you're already pre-approved, this shouldn't take very long at all. But you need to stay in close contact with your lender.
And I'll take care of all the property information your lender needs to close the loan.
Step 8 – Close the deal
Your lender will supply you with a Loan Estimate (LE) outlining closing costs within three days of receiving your application. You'll get a Loan Estimate (LE) of closing costs from your mortgage lender within three days of receiving your application.
This estimate is formed from the loan amount. RESPA requirements mandate that it has to contain all closing costs and be within a strict range of accuracy, and I'll study the estimate and let you know if it all looks good.
Then we'll close on your home. This should occur at a title company or escrow office and will most likely be a smooth and calm affair.
Step 9 – Move in
Congratulations! It's time to move into your new house. Enjoy it. And if you have any questions, be sure to call me at (303) 843-1545 or e-mail me at .