Buying or selling a home? Coldwell Banker Residential Brokerage can help.
For most people, buying a home is a stressful event. However, with a little planning ahead of time, it isn't all that confusing.
So they know exactly what they can expect, I will furnish buyers with a road map of the entire deal.
These are my nine steps to buying a home.
If you have any questions about this information or if you're prepared to get started, simply contact me here or e-mail me at .
Step 1 – Prepare to buy a home
There are several things you need to do prior to commencing your home search.
When you begin your search, you'll want to create an outline of features you want to have, 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 around a third of your net monthly income is a good principle to adhere to.
Step 2 – Talk to a real estate agent in Englewood
That's where I can help.
We can book a time to get together so we can talk about why you want to buy a home and get an idea of your plans for the future.
We'll discuss the mortgage and housing industries, other economic factors that may potentially affect your purchase today or in the future, as well as neighborhoods and school districts in the Englewood area.
I can also assist you with getting started on your loan.
I partner with some of Englewood's best mortgage professionals, so you'll be in great hands.
They can help you decide which type of loan is best for you, as well as help you get qualified.
Step 3 – Start looking for a home
After our first meeting, I'll begin finding houses on the market that are a good fit for you.
I'll get a sneak peek of many of the homes and eliminate the duds, and then we'll set up appointments to tour the homes at a time that's convenient for you.
When we view houses, I'll show you the positive features and bad ones. I'll even ask you to point out what things you like and don't like.
It's pretty common for buyers to change their must-have list as we view homes and some items become more substantial than others.
If that's the situation, I'll look through the listings once more and trim it down to the home of your dreams.
Step 4 – Know the housing market
My knowledge of the Englewood housing market is a crucial component in your house search. I am familiar with all the schools and neighborhoods, and I'll let you know some neighborhoods are "hot" and warrant prompt action and others that are "cool" and allow for careful examination.
When we view houses, I'll make sure to communicate if the seller's asking price has room for bargaining or if I believe the house is "priced to sell."
Any real estate agent in Englewood will claim to truly understand the market, but beware, and make sure you ask a lot of questions.
If things don't add up, call me at 3038431545 or e-mail me at , and I'd be glad to answer any questions you may have. My understanding of the market will keep you a step ahead through the entire deal.
Step 5 – Find the home you've been waiting for
I'm certain we'll find the home of your dreams in the Englewood area. When that happens, I'll precisely create your purchase offer. The offer will be tailored with your needs in mind and the home, including a lot of contingencies, such as acquiring financing, finishing the inspection, and a clear title.
Upon turning in your purchase offer, you'll want to present "earnest money." This is a cash deposit given to a home seller to secure an offer to purchase the property. The amount is most often applied to the closing costs. If your offer is accepted, we should close on the property within 30 to 60 days after. This allows plenty of time for your mortgage financing.
Step 6 – Negotiate
A lot of contracts don't close on the beginning offer. It's really common to receive a counter offer. Don't let it alarm you. We'll discuss whether or not to take the counter offer, present our own counter offer, or decline the seller's offer and go on.
How aggressively we negotiate the deal depends on market conditions.
We'll also work within your financing limits. And when it's all said and done, we'll formulate a deal that works well for you.
Step 7 – Get your loan
Once we sign the final deal, you'll begin working with your mortgage lender to close the loan.
If you've been pre-qualified, this shouldn't take long at all, but you need to keep in close contact with your mortgage lender.
And I'll sort out all the property information your mortgage lender will need to close the loan.
Step 8 – Close the deal
Your mortgage lender will supply you with a Loan Estimate (LE) outlining 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 getting your loan application.
The estimate is based on the loan amount. RESPA requirements mandate that it has to include all closing costs and fall within a precise range of accuracy, and I'll go over the estimate and let you know if everything looks okay.
Then we'll close on your home. This will most likely happen at a title company or escrow office and will most often be a smooth and relaxed affair.
Step 9 – Move in
Congratulations! It's time to move into your new house. Enjoy it. And if you need anything, simply call me at 3038431545 or e-mail me at .