Buying a home in Englewood with Coldwell Banker Residential Brokerage
With some up-front planning, buying a home isn't too hard, but the event is intimidating for a lot of people. I like to furnish buyers with an overview of the whole deal so they understand exactly what to expect. These are my nine steps to buying a home.
Should you have any questions about this information or if you're ready to get started, just contact me here or send e-mail to email@example.com
Step 1 – Prepare to purchase
Before you start searching for a home, there are several things you need to do. When you begin your search, you'll want to put together a list of must-have features, get an idea of what school districts and neighborhoods you want to live in, and start working on your budget. A good guideline to adhere to is that your mortgage payment should be a third of your monthly income.
Step 2 – Contact a real estate agent in Englewood
That's where I can help. I'd be more than happy to schedule a time to get together with you and speak with you regarding your real estate needs and get an idea of your future plans. We'll talk about everything from neighborhoods, schools in the Englewood area, the mortgage industry, to any other economic factors that may potentially affect your buying decision today or in the future.
I'll also help you start the loan process. I partner with some of Englewood's best mortgage professionals, so you're in great hands. They can assist you with choosing which type of loan is best for you and help you get qualified.
Step 3 – Start house hunting
Following our first meeting, I'll begin looking for houses on the market that are great for you. I'll research many of the homes and ignore the duds, and then we'll schedule appointments to view the homes whenever it's convenient for you.
When we view the houses, I'll call attention to good features, as well as negative ones. I'll even ask you to point out what things you like and don't like. It's pretty common for buyers to update their list of must-haves as we tour houses and some items become more necessary than others. If that's the situation, I'll look through all the listings once again and narrow it down to the home you've been dreaming about.
Step 4 – Get a grasp of the housing market
My understanding of the Englewood housing market is a necessary advantage in your house search. I am informed of all the school districts and neighborhoods, and I can alert you to some areas are "hot" and call for prompt action and the ones that are "cool" and allow for more examination.
When we tour houses, I'll make sure to communicate if the seller's asking price has room for negotiation or if I believe the house is "priced to sell." Trust your instincts and be sure to ask your agent a lot of questions, as every REALTOR® will claim to truly understand the market. If things don't add up, contact me at (303) 843-1545 or e-mail me at firstname.lastname@example.org, and I'd be glad to answer any questions you may have. My knowledge of the market will help you stay a step ahead through the entire process.
Step 5 – Find your dream house
I'm positive we'll find your dream home in the Englewood area, and when we do, I'll precisely create your real estate purchase offer. The offer will be made with your needs in mind. Whenever necessary, I never forget to make contracts contingent upon items like obtaining financing and the results of the home inspection.
Upon turning in your offer, you'll need to submit "earnest money." This is a cash deposit made to the home seller to secure an offer to buy the property and is usually put towards the cost of closing. If the offer is accepted by the seller, we should close about 30 to 60 days afterward. This allows enough time for your mortgage financing.
Step 6 – Negotiate
Unfortunately most deals aren't closed on the initial offer, and it's widely common to receive a counter offer. But don't let this intimidate you. We'll discuss whether or not to consent to the counter offer, propose our own counter offer, or decline the seller's offer and move on.
How aggressively we negotiate the contract depends on the state of the market. In addition, we'll work within your budget. And when it's all said and done, we'll formulate a deal that is best for you.
Step 7 – Obtain your loan
Upon completing the contract, you'll start working with your lender to close the loan. If you're pre-qualified, it shouldn't take very long at all. But you'll need to keep in close contact with your lender. And I'll deal with all the property information your lender will need to close the loan.>
Step 8 – Close the deal
You'll get a Good Faith Estimate (GFE) detailing your closing costs from your mortgage lender within three days of taking your application. The estimate rests on the loan amount. RESPA requirements mandate that it has to contain all closing costs and fall within a precise range of accuracy, and I'll go over the estimate and let you know if it all looks all right.
Then we'll close on your house. This will most likely happen at a title company or escrow office and is often a smooth and peaceful affair.
Step 9 – Move in
Success! It's time to move into your new home. Enjoy it. And if you need anything or have any questions, just call me at (303) 843-1545 or send me an e-mail.