Are you purchasing your new home in Englewood? Coldwell Banker Residential Brokerage can help.
Buying a home is an intimidating event for many people, but with a little up-front planning, it isn't very confusing.
I like to supply buyers with a road map of the entire deal so they'll understand exactly what to expect.
Below are my nine steps to buying a home.
If you have any questions regarding 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 purchase a home
There are a lot of things you should take into account before starting your home search.
When you start your search, you'll probably want to assemble a checklist of must-haves, get an idea of what school districts you want to live in, and begin planning your budget.
A good rule of thumb to go by is that your mortgage payment should be less than or close to 30 percent of your monthly income.
Step 2 – Speak with a real estate agent in Englewood
This is where Coldwell Banker Residential Brokerage can help.
We'll schedule 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 talk about everything from neighborhoods, school districts in the Englewood area, the mortgage and housing industries, to any other economic factors that could affect your buying decision today or in the future.
I can also help you facilitate the loan process.
There are some great mortgage professionals in Englewood, and I work with a lot of them, so you can rest assured that you're in great hands.
They will assist you with figuring out which kind of loan is best for you and help you get qualified.
Step 3 – Begin looking for a house
After our first meeting, I'll start searching for available homes on the market that meet your needs.
I'll preview many of the homes and throw out the duds, and then we'll set up appointments to tour the houses whenever it's convenient for you.
When we view the houses, I'll call attention to good features, as well as bad ones. I'll even ask you what things you like and don't like.
It's common for buyers to update their must-have list as we view houses and some items become more crucial than others.
If that's the case, I'll go back through the listings once again and trim it down to the home you've been dreaming about.
Step 4 – Understand the market
My understanding of the Englewood housing market is an essential agent in your house search. I'm familiar with all the neighborhoods and school districts, and I will let you know which areas are "hot" and warrant prompt action and some that are "cold" and allow for careful examination.
When we tour houses, I'll let you know if the list price has room for bargaining or if I believe the house is "priced to sell."
Trust your instincts and be sure to ask plenty of questions, as any REALTOR in Englewood will tell you they understand the 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 happy to answer any questions you have. My market expertise will keep you a step above the rest through the entire process.
Step 5 – Find the home of your dreams
We'll find the home of your dreams in Englewood, and when that happens, I'll thoroughly develop your real estate purchase offer. The offer will be made to fit your needs and the home. We'll include some contingencies, such as getting financing, finishing the home inspection, and a clean title.
Upon turning in your purchase offer, you'll want to submit "earnest money." This is a cash deposit made to a home seller to secure an offer to buy the property and is often put towards the closing costs. If the seller accepts the offer, we should close on the home about 30 to 60 days afterward. This allows plenty of time for your mortgage financing.
Step 6 – Negotiate
A lot of contracts aren't closed on the beginning offer. It's really common to receive a counter offer. Don't let it discourage you. We'll consider whether or not to agree to the counter offer, submit our own counter offer, or decline the seller's offer and go on.
How aggressively we negotiate the deal depends on market circumstances.
We'll also work within your financing budget. And at the end of the day, we'll create a contract that is best for you.
Step 7 – Secure financing
Upon finishing the contract, you'll start working with your mortgage lender to close the loan.
It won't take much time at all if you're pre-approved, but you need to keep in close contact with your lender.
And I'll look after all the property information your lender needs to close the loan.
Step 8 – Close the deal
You'll get a Loan Estimate (LE) outlining your closing costs from your mortgage lender within three days of taking your application.
This estimate depends on the loan amount, and RESPA requirements order that it has to contain all closing costs and fall within a close range of accuracy. I'll analyze the estimate and let you know if everything looks permissible.
Then we'll close on your home. This will probably take place at a title company or escrow office and will probably be a smooth and relaxed occasion.
Step 9 – Move in
Congratulations! Now you can move into your new home. Enjoy it. And if you need anything or have any questions, simply call me at (303) 843-1545 or e-mail me at .