Let Coldwell Banker Residential Brokerage assist you with buying your home in Englewood
For most people, buying a home can be a stressful event. However, with a little planning ahead of time, it's not very complex.
I like to provide buyers with a road map of the entire deal so they know exactly what they can expect.
Below are my nine steps to buying a home.
Should you have questions regarding any of this information or if you're prepared to get started, you can contact me here or e-mail me at .
Step 1 – Prepare to purchase
There are plenty of things you should take into account before beginning your home search.
It's likely that you'll want to put together a check list of features you want to have, get an idea of what school districts and neighborhoods you'd like to live in, and begin working on your budget.
A good rule to go by is that your mortgage payment should be 1/3 of your net monthly income.
Step 2 – Get in touch with a real estate agent
This is where I can help.
I'd be more than happy to plan a time to get together with you and communicate with you about why you want to buy a home and get an idea of your upcoming plans.
We'll talk about neighborhoods, schools in the Englewood area, the mortgage industry, and any additional economic factors that might affect your purchase today or in the future.
I can also help you get started on your loan.
There are some excellent mortgage professionals in Englewood, and I partner with a lot of them, so you can rest assured that you're in great hands.
They can assist you with figuring out which type of loan is best for you and help you get approved.
Step 3 – Start looking for a home
After our first meeting, I'll start finding homes on the market that suit your needs.
I'll preview many of the houses and remove the duds, and then we'll set up appointments to tour the houses whenever it's convenient for you.
As we view the houses, I'll call attention to good features, as well as bad ones. I'll even ask you about things you like and dislike.
Oftentimes, buyers change their must-have list as we tour houses and some items become more essential than others.
If that happens, I'll look through the listings another time and narrow it down to the house you've been waiting for.
Step 4 – Know the market
My understanding of the Englewood home market is a leading element in your home search. I am informed of all the neighborhoods and school districts, and I will let you know certain neighborhoods are "hot" and call for immediate action and some that are "cool" and allow for careful examination.
As we tour houses, I'll be sure to tell you when the asking price has room for negotiation and also when I know the house is "priced to sell."
When working with an agent, trust your instincts and be sure to ask plenty of questions, as every REALTOR in Englewood will convince you they understand the home market.
If it seems like they don't know everything, contact me at 3038431545 or e-mail me at , and I'll be happy to answer any questions you might have. My knowledge of the market will help you stay a step above the rest through the entire deal.
Step 5 – Find the house you've been waiting for
We'll find the home of your dreams in the Englewood area, and when we do, I'll precisely develop your home purchase offer. The offer will be made to suit your needs and the home. We'll include a lot of contingencies, such as getting financing, finishing the inspection, and a clean title.
When presenting your offer, most likely you'll need to present "earnest money." This is a cash deposit submitted to a seller to secure an offer to buy the property and is usually applied to the cost of closing. If your offer is accepted by the seller, we should close on the property within 30 to 60 days after. This allows enough time for your mortgage financing.
Step 6 – Negotiate
A lot of contracts aren't closed on the first offer – it's widely common to receive a counter offer. Don't let it alarm you. We'll talk over whether or not to take the counter offer, submit our own counter offer, or reject the seller's offer and move on.
The state of the market determines how aggressively we negotiate the contract.
In addition, we'll work within your financing budget. And when it's all said and done, we'll compose a deal that's best for you.
Step 7 – Obtain your loan
Upon completion of the deal, you'll begin working with your lender to close the loan.
If you've been pre-approved, it won't take very long at all. But you need to stay in close contact with your mortgage lender.
And I'll look after 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 Loan Estimate (LE) detailing closing costs within three days of receiving your loan application. You'll get a Loan Estimate (LE) outlining your closing costs from your lender within three days of taking your application.
This estimate rests on the loan amount, and RESPA requirements dictate that it has to contain all closing costs and be within a narrow range of accuracy. I'll study the estimate and let you know if it all looks permissible.
Then it's time to close on your home. This will most likely happen at a title company or escrow office and will most often be a smooth and pleasant 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 3038431545 or e-mail me at .