Contemplating buying your new home in Englewood? Coldwell Banker Residential Brokerage can help.
For a lot of people, purchasing a home can be an intimidating event. However, with a bit of planning ahead of time, it isn't very difficult.
So they'll know exactly what to expect, I will give buyers a road map of the entire deal.
Here are my nine steps to buying a home.
When you're ready to get started, just contact me here or e-mail me at . I'm happy to address any questions you have about this information.
Step 1 – Prepare to buy a home
There are plenty of things you need to do prior to beginning your home search.
You'll want to put together a checklist of items you want, get a feel for what neighborhoods and school districts you want to live in, and start planning your budget.
Keeping your mortgage payment around 30 percent of your net monthly income is a good principle to go by.
Step 2 – Talk to a real estate agent
This is where Coldwell Banker Residential Brokerage can help.
I'd be happy to set up a time to meet with you and speak with you regarding 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 could potentially affect your buying decision today or in the future, as well as neighborhoods and school districts in the Englewood area.
I'll also help you begin the loan process.
There are some great mortgage professionals in Englewood, and I partner with a lot of them, so you're in great hands.
They will help you decide which kind of loan is best for you, as well as help you get qualified.
Step 3 – Begin your home search
After our first meeting, I'll start looking for homes on the market that are a great fit for you.
I'll research most of the houses and exclude the duds, and then we'll set up appointments to view the homes when it's most convenient for you.
As we tour the homes, I'll point out positive features, as well as negative ones. And I'll ask you to talk about things you like and don't like.
It's pretty common for buyers to update their list of must-haves as we view houses and some features become more important than others.
If that's the situation, I'll go back through all the listings another time and trim it down to the home you've been waiting for.
Step 4 – Get a grasp of the housing market
Your agent's knowledge of the Englewood home market is a necessary factor in your home search. And I assure you I'm familiar with all the neighborhoods and school districts, and I can let you know certain neighborhoods are "hot" and require immediate action and some that are "cool" and allow for careful examination.
As we tour homes, I'll let you know if the seller's list price has room for bargaining or if I believe the home is "priced to sell."
Trust your instincts and be sure to ask a lot of questions, as every REALTOR in Englewood will claim to truly understand the market.
If it doesn't seem like they know everything, just call me at (303) 843-1545 or e-mail me at , and I'd be more than happy to answer any questions you have. My market expertise will help you stay a step above the rest throughout the entire process.
Step 5 – Find the house you've been looking for
I know we'll find your dream house in the Englewood area. When that happens, I'll thoroughly create your purchase offer. The offer will be tailored keeping your needs in mind and the home, including several contingencies. A few examples are acquiring financing, finishing the home inspection, and a clear title.
When presenting your purchase offer, most likely you'll want to present "earnest money." This is a cash deposit given to the home seller to secure the offer to purchase the property, and it's usually applied to the closing costs. If the offer is accepted by the seller, we should close within 30 to 60 days afterward. This allows plenty of time for your mortgage financing.
Step 6 – Negotiate
Unfortunately most contracts don't close on the first offer – it's widely common to receive a counter offer. Don't let this alarm you. We'll consider whether or not to accept the counter offer, present our own counter offer, or reject the seller's offer and move on.
Market circumstances determine how aggressively we negotiate the deal.
In addition, we'll work within your financing constraints. And when it's all said and done, we'll put together a contract that is best for you.
Step 7 – Obtain financing
Upon signing the contract, you'll begin working with your mortgage lender to close the loan.
It won't take very long at all if you're already pre-approved, but you'll need to stay in close contact with your lender.
And I'll sort out all the property information your lender will need to close the loan.
Step 8 – Close the deal
You'll get a Loan Estimate (LE) outlining your closing costs from your lender within three days of accepting your application.
This estimate is formed from the loan amount, and RESPA requirements order that it has to involve all closing costs and fall within a narrow range of accuracy. I'll examine the estimate and let you know if it all looks good.
Then it's time to close on your house. This should occur at a title company or escrow office and should be a smooth and easygoing occasion.
Step 9 – Move in
Congratulations! Now you can move into your new house. Enjoy it. And if you need anything or have any questions, be sure to contact me at (303) 843-1545 or e-mail me at .