Are you buying a new home in Englewood? Coldwell Banker Residential Brokerage can help.
Buying a home is stressful for a lot of people, but with a bit of up-front planning, it's not all that hard.
So they understand exactly what to expect, I like to provide buyers with a road map of the entire deal.
Below are my nine steps to buying a home.
When you're ready to get started, you can contact me here or e-mail me at . I'm glad to address questions you have about this information.
Step 1 – Get ready to purchase a home
Before you begin searching for a home, there are plenty of things you should contemplate.
When you begin your search, you'll probably want to create a check list of features you want, get a plan of what school districts and neighborhoods you'd like to live in, and start planning your budget.
Ensuring your mortgage payment is around a third of your net monthly income is a good rule to go by.
Step 2 – Connect with a real estate agent in Englewood
That's where I come in.
We can book a time to meet so we can talk about why you want to buy a home and get an idea of your future plans.
We'll discuss the mortgage industry, other economic factors that may potentially affect your buying decision today or in the future, as well as neighborhoods and school districts in the Englewood area.
I can also help you begin the loan process.
Coldwell Banker Residential Brokerage works with some of the best mortgage professionals in Englewood, so you'll be in great hands.
They can assist you in determining which type of loan is best for you and help you get qualified.
Step 3 – Start your search
After our first meeting, I'll start finding homes on the market that are great for you.
I'll get a sneak peek of many of the houses and reject the bad ones, and then we'll set up appointments to tour the houses whenever it's most convenient for you.
As we tour houses, I'll identify positive features and negative ones. I'll even ask you what things you like and dislike.
It's widely common for buyers to revise their list of must-haves as we tour houses and some things become more substantial than others.
If such is the case, I'll look through all the listings once more and trim it down to the home you've been waiting for.
Step 4 – Get a grasp of the market
My knowledge of the Englewood housing market is a necessary element in your home search. I'm familiar with all the school districts and neighborhoods, and I'll let you know what neighborhoods are "hot" and call for prompt action and some that are "cool" and allow for thoughtful consideration.
When we tour houses, I'll make sure to communicate when the asking price has room for negotiation and when I believe the house is "priced to sell."
When working with an agent, be careful and be sure to ask plenty of questions, as every real estate agent in Englewood will convince you they know the home market.
If things don't add up, contact 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 help you stay a step above the rest through the entire process.
Step 5 – Find the house you've been waiting for
We'll find the home of your dreams in the Englewood area, and when that happens, I'll carefully develop your real estate purchase offer. The offer will be tailored keeping your needs in mind and the home, including several contingencies, such as getting financing, completing the home inspection, and a clean title.
When turning in your offer, most likely you'll want to submit "earnest money." This is a cash deposit given to the home seller to secure an offer to purchase the property, and it's usually put towards the closing costs. If your offer is accepted, we should close on the home about 30 to 60 days afterward. This allows enough time for your mortgage financing.
Step 6 – Negotiate
Most deals don't close on the beginning offer – it's very common to receive a counter offer. Don't let this alarm you. We'll talk about whether or not to accept the counter offer, submit our own counter offer, or reject the seller's offer and go on.
The state of the market will play a big part in how aggressively we negotiate the contract.
We'll also work within your financing constraints. And when it's all said and done, we'll compose a contract that's best for you.
Step 7 – Secure a loan
Upon completion of the deal, you'll start working with your mortgage lender to close the loan.
If you've been pre-qualified, this won't take much time at all. However, you should to keep in close contact with your lender.
And I'll deal with all the property information your mortgage lender needs to close the loan.
Step 8 – Close the deal
Your mortgage lender will provide you with 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 getting your loan application.
This estimate is formed from the loan amount, and RESPA requirements mandate that it has to involve all closing costs and be within a precise range of accuracy. I'll examine the estimate and let you know if it all looks good.
Then we'll close on your house. This will probably take place at a title company or escrow office and will most often be a smooth and relaxing occurrence.
Step 9 – Move in
Congratulations! Now you can move into your new house. Enjoy it. And if you have any questions, just call me at (303) 843-1545 or e-mail me at .