Purchasing your home in Englewood with Coldwell Banker Residential Brokerage
Buying a home is a stressful event for many people, but with a little planning ahead of time, it's not all that confusing.
So you understand exactly what to expect, I like to furnish my buyers with an overview of the whole deal.
Here are my nine steps to purchasing a home.
Step 1 – Get ready to purchase a home
Before you start your home search, there are a lot of things you need to contemplate.
You'll want to assemble a list of features you need, get a feeling for what school districts you'd like to live in, and begin planning your budget.
Keeping your mortgage payment less than or around 1/3 of your monthly income is a good rule to follow.
Step 2 – Communicate with a real estate agent in Englewood
That's where I can help.
I'd like to set up a time to meet with you and communicate with you about your real estate needs and get an idea of your plans for the future.
We'll discuss everything from neighborhoods, schools in the Englewood area, the mortgage and housing industries, to any other economic factors that might affect your purchase today or in the future.
I can also help you begin the loan process.
There are some great mortgage professionals in Englewood, and I work with a lot of them, so you're in great hands.
They'll assist you with deciding which type of loan is best for you and help you get approved.
Step 3 – Start your home search
Following our initial meeting, I'll start searching for houses on the market that are a good fit for you.
I'll get a sneak peek of most of the homes and reject the duds, and then we'll schedule appointments to view the houses when it's convenient for you.
As we tour houses, I'll point out good features and bad ones. I'll also ask you to point out what things you like and don't like.
Oftentimes, buyers revise their must-have list as we view homes and some things become more essential than others.
If such is the case, I'll search the listings once more and narrow it down to the house you've been wishing for.
Step 4 – Get a grasp of the market
Your agent's knowledge of the Englewood market is a fundamental component in your home search. And I assure you I'm acquainted with all the school districts and neighborhoods, and I will let you know which neighborhoods are "hot" and call for immediate action and the others that are "cold" and allow for careful examination.
When we tour houses, I'll be sure to tell you when the seller's list price has room for bargaining and also when I think the house is "priced to sell."
When working with an agent, be on guard and make sure you ask lots of questions. Any real estate agent in Englewood will convince you they 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 more than happy to answer any questions you have. My understanding of the market will keep you a step above the rest throughout the entire process.
Step 5 – Find your dream house
I'm certain we'll find your dream home in Englewood, and when we do, I'll carefully develop your purchase offer. The offer will be written keeping 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 presenting your offer, you'll want to submit "earnest money." This is a cash deposit submitted to the seller to secure an offer to buy the property. The amount is most often put towards the cost of closing. If the seller accepts the offer, we should close within 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 first offer – it's really common to receive a counter offer. But don't let it alarm you. We'll talk over whether or not to accept the counter offer, submit our own counter offer, or decline the seller's offer and go on.
Market circumstances will play a vital role in how aggressively we negotiate the deal.
In addition, we'll work within your financing constraints. And at the end of the day, we'll compose a contract that works well for you.
Step 7 – Secure your loan
After we sign the final deal, you'll start working with your mortgage lender to close the loan.
If you're pre-approved, it shouldn't take long at all, but you'll want to keep in close contact with your mortgage lender.
And I'll take care of all the property information your mortgage 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.
This estimate is based on the loan amount, and RESPA requirements mandate that it has to involve all closing costs and fall within a narrow range of accuracy. I'll analyze the estimate and let you know if everything looks good.
Then it's time to close on your home. This should occur at a title company or escrow office and should be a smooth and comfortable occurrence.
Step 9 – Move in
Success! It's time to move into your new house. Enjoy it. And if you have any questions, make sure you call me at (303) 843-1545 or send me an e-mail.