Are you contemplating buying your new home in Englewood?
Purchasing a home can be stressful for a lot of people, but with a little up-front planning, it's not all that complex.
So they'll know exactly what to expect, I will furnish buyers with an outline of the whole deal.
Here are my nine steps to buying a home.
When you're ready to get started, simply contact me here or e-mail me at . I'm happy to address questions you have about this information.
Step 1 – Prepare to buy a home
Prior to starting your home search, there are several things you should contemplate.
You'll most likely want to form a list of items you need, get a feel for what school districts and neighborhoods you'd like to live in, and begin working on your budget.
Ensuring your mortgage payment is less than 30 percent of your net monthly income is a good principle to go by.
Step 2 – Get in touch with a real estate agent
That's where I come in.
I'd love to arrange a time to get together with you and talk about your real estate needs and get an idea of your upcoming plans.
We'll talk about everything from neighborhoods, schools in the Englewood area, the mortgage and housing industries, to any other economic factors that could affect your buying decision today or in the future.
I'll also help you begin the loan process.
There are some excellent mortgage professionals in Englewood, and I work with a lot of them, so you can rest assured that you're in great hands.
They will assist you in choosing which kind of loan is best for you and help you get approved.
Step 3 – Start your search
After our first meeting, I'll begin searching for houses on the market that best suit you.
I'll research most of the houses and reject the duds, and then we'll set up appointments to tour the homes when it's most convenient for you.
As we view the houses, I'll call attention to good features, as well as negative ones. I'll even ask you to talk about things you like and dislike.
It's widely common for buyers to change their must-have list as we tour houses and some things become far more crucial than others.
If that's the situation, I'll go back through all the listings again and narrow it down to the house of your dreams.
Step 4 – Comprehend the housing market
An agent's awareness of the Englewood market is an imperative factor in your home search. And I assure you I'm conscious of all the school districts and neighborhoods, and I'll let you know certain areas are "hot" and demand immediate action and the ones that are "cold" and allow for thoughtful examination.
As we tour homes, I'll let you know if the seller's list price has room for negotiation or if I believe the home is "priced to sell."
Be on guard and be sure to ask lots of questions, as any real estate agent in Englewood will convince you they know the market.
If things don't add up, contact me at 3038431545 or e-mail me at , and I'll be happy to answer your questions. My market expertise will keep you a step ahead through the entire process.
Step 5 – Find the home you've been looking for
We'll find the house of your dreams in Englewood, and when we do, I'll meticulously create your purchase offer. The offer will be tailored exactly to your needs and the home, including some contingencies. A few examples are acquiring financing, completing the inspection, and a clean title.
When presenting your offer, you'll need to present "earnest money." This is a cash deposit given to a home seller to secure the offer to buy the property. The amount 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 necessary time for your mortgage financing.
Step 6 – Negotiate the deal
Unfortunately most contracts aren't closed on the initial 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, present our own counter offer, or refuse the seller's offer and move on.
How aggressively we negotiate the deal depends on market conditions.
In addition, we'll work within your financing limits. And at the end of the day, we'll create a contract that works well for you.
Step 7 – Obtain financing
Once the contract is finished, you'll start working with your mortgage lender to close the loan.
If you're pre-qualified, it shouldn't take long at all. But you should to keep in close contact with your lender.
And I'll take care of all the property information your mortgage lender needs to close the loan.
Step 8 – Close the deal
Your lender will furnish you with a Loan Estimate (LE) of your closing costs within three days of receiving your loan application. You'll get a Loan Estimate (LE) outlining closing costs from your mortgage lender within three days of accepting your application.
The estimate depends on the loan amount, and RESPA requirements mandate that it has to contain all closing costs and be within a precise range of accuracy. I'll go over the estimate and let you know if it all looks all right.
Then we'll close on your home. This will most often occur at a title company or escrow office and will most often be a smooth and easygoing occurrence.
Step 9 – Move in
Congratulations! Now you can move into your new house. Enjoy it. And if you have any questions, be sure to call me at 3038431545 or e-mail me at .