Are you purchasing your home in Englewood?
Buying a home is an intimidating event for most people, but with a bit of up-front planning, it's not too hard.
I like to give buyers an overview of the entire deal so they know exactly what to expect.
Below are my nine steps to buying a home.
Step 1 – Get ready to buy
Before you start your home search, there are a lot of things you'll want to contemplate.
When you start your search, you'll probably want to create a checklist of items you need, plan for what school districts you want to live in, and begin working on your budget.
Keeping your mortgage payment less than a third of your monthly income is a good rule of thumb to follow.
Step 2 – Get with a real estate agent
That's where I can help.
I can schedule a time to meet so we can talk about your real estate needs and get an idea of your plans for the future.
We'll talk about neighborhoods, school districts in the Englewood area, the mortgage industry, and any other economic factors that could affect your buying decision today or in the future.
I can also assist you in getting started on your loan.
Coldwell Banker Residential Brokerage partners with some of Englewood's finest mortgage professionals, so you can rest assured that you're in great hands.
They will help you decide which kind of loan is best for you, as well as help you get approved.
Step 3 – Begin your home search
After our first meeting, I'll start looking for homes on the market that best suit you.
I'll get a sneak peek of many of the houses and exclude the bad ones, and then we'll book appointments to tour the houses when it's convenient for you.
When we tour homes, I'll call attention to positive features, as well as negative ones. I'll even ask you to point out what things you like and don't like.
Oftentimes, buyers update their must-have list as we view homes and some features become far more necessary than others.
If that happens, I'll go back through the listings once more and narrow it down to the home you've been wishing for.
Step 4 – Understand the housing market
Your agent's knowledge of the Englewood home market is a leading component in your home search. And I can assure you I'm acquainted with all the schools and neighborhoods, and I can communicate which neighborhoods are "hot" and require immediate action and the rest that are "cold" and allow for more examination.
As we tour houses, I'll make sure to communicate when the seller's asking price has room for bargaining and when I believe the house is "priced to sell."
When working with an agent, be careful and make sure you ask lots of questions. Any REALTOR® in Englewood will tell you they understand the housing market.
If it appears they don't know everything, just call me at (303) 843-1545 or e-mail me at email@example.com, and I'd be happy to answer any questions you might have. My market expertise will help you stay a step above the rest throughout the entire deal.
Step 5 – Find the house you've been waiting for
I'm positive we'll find the house of your dreams in Englewood. When we do, I'll meticulously develop your real estate purchase offer. The offer will be tailored with your needs in mind, including several contingencies. A few examples are obtaining financing, finishing the home inspection, and a clean title.
When turning in your purchase offer, you'll need to submit "earnest money." This is a cash deposit given to the home seller to secure the offer to purchase the property. The amount is usually put towards the cost of closing. If the seller accepts your offer, we should close on the home about 30 to 60 days afterward. This allows ample time for your mortgage financing.
Step 6 – Negotiate the deal
A lot of deals don't close on the first offer. It's very common to receive a counter offer. But don't let this alarm you. We'll consider whether or not to agree to the counter offer, present our own counter offer, or decline the seller's offer and go on.
How aggressively we negotiate the contract depends on market circumstances.
We'll also work within your financing budget. And at the end of the day, we'll formulate a deal that is best for you.
Step 7 – Obtain your loan
After the deal is finished, you'll start working with your lender to close the loan.
It shouldn't take much time at all if you've been pre-approved, but you should to keep in close contact with your mortgage lender.
And I'll manage all the property information your mortgage lender needs to close the loan.>
Your lender will furnish you with a Good Faith Estimate (GFE) of your closing costs within three days of getting your application.
The estimate is based on the loan amount, and RESPA requirements dictate that it has to involve all closing costs and be within a tight range of accuracy. I'll analyze the estimate and let you know if it all looks okay.
Then it's time to close on your house. This will most often happen at a title company or escrow office and will probably be a smooth and peaceful occasion.
Step 9 – Move in
You made it! Now you can move into your new home. Enjoy it. And if you need anything, be sure to contact me at (303) 843-1545 or send me an e-mail.