Are you purchasing your home in Englewood? Coldwell Banker Residential Brokerage can help.
For many people, purchasing a home is a stressful event. But with a bit of planning ahead of time, it isn't all that hard.
So they'll understand exactly what to expect, I will furnish buyers with a road map of the entire deal.
Here are my nine steps to purchasing a home.
Should you have any questions regarding this information or if you're ready to get started, just contact me here or e-mail me at .
Step 1 – Get ready to buy a home
There are many things you should consider prior to starting your home search.
When you start your search, you'll probably want to assemble a check list of features you need, get a plan of what school districts you want to live in, and begin planning your budget.
A good principle to go by is that your mortgage payment should be close to 30 percent of your monthly income.
Step 2 – Contact a real estate agent
That's where I come in.
We can arrange a time to meet so we can talk about your real estate needs 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 schools in the Englewood area.
In addition, I'll help you facilitate the loan process.
There are some very good mortgage professionals in Englewood, and I work with a lot of them, so you'll be in great hands.
They'll help you figure out which type of loan is best for you, as well as help you get qualified.
Step 3 – Begin your home search
Following our initial meeting, I'll start finding houses on the market that suit your needs.
I'll get a sneak peek of many of the homes and ignore the duds, and then we'll book appointments to tour the homes at a time that's convenient for you.
As we view the houses, I'll point out good features, as well as bad ones. And I'll ask you to point out what things you like and don't like.
Usually, buyers change their must-have list as we view houses and some things become far more important than others.
If that's the situation, I'll look through the listings once more and narrow it down to the house you've been dreaming about.
Step 4 – Understand the housing market
An agent's awareness of the Englewood home market is an imperative agent in your house search. And I can assure you I'm conscious of all the neighborhoods and school districts, and I will let you know certain districts are "hot" and warrant immediate action and some that are "cold" and allow for thoughtful analysis.
As we view houses, I'll make sure to communicate when the list price has room for negotiation and when I trust the house is "priced to sell."
Every REALTOR in Englewood will convince you they truly understand the housing market, but take notice, and make sure you ask your agent lots of questions.
If it doesn't seem like they know everything, contact me at (303) 843-1545 or e-mail me at , and I'd be glad to answer any questions you may have. My understanding of the market will help you stay a step above the rest through the entire deal.
Step 5 – Find the home of your dreams
We'll find your dream house in the Englewood area, and when that happens, I'll carefully create your purchase offer. The offer will be tailored with your needs in mind and the home, including several contingencies, such as getting financing, finishing the inspection, and a clear title.
When presenting your offer, most likely you'll need to present "earnest money." This is a cash deposit given to the seller to secure an offer to purchase the property and is often put towards the closing costs. If your offer is accepted by the seller, we should close on the property about 30 to 60 days after. This allows plenty of time for your mortgage financing.
Step 6 – Negotiate
Unfortunately most contracts aren't closed on the beginning offer – it's very common to receive a counter offer. But don't let this discourage you. We'll talk about whether or not to consent to the counter offer, submit our own counter offer, or reject the seller's offer and go on.
How aggressively we negotiate the deal depends on market conditions.
We'll also work within your financing constraints. And at the end of the day, we'll assemble a deal that is best for you.
Step 7 – Secure financing
Upon signing the contract, you'll start working with your mortgage lender to close the loan.
This won't be a long process at all if you're pre-approved, but you need to stay in close contact with your mortgage lender.
And I'll sort out all the property information your mortgage lender needs to close the loan.
Step 8 – Close the deal
Your mortgage lender will supply you with a Good Faith Estimate (GFE) outlining your closing costs within three days of receiving your loan application. You'll get a Good Faith Estimate (GFE) detailing closing costs from your lender within three days of getting your application.
This estimate rests on the loan amount, and RESPA requirements dictate that it has to involve all closing costs and fall within a strict range of accuracy. I'll study the estimate and let you know if it all looks adequate.
Then we'll close on your house. This should happen at a title company or escrow office and should be a smooth and relaxing occurrence.
Step 9 – Move in
Congratulations! It's time to move into your new home. Enjoy it. And if you need anything or have any questions, just contact me at (303) 843-1545 or e-mail me at .