Are you buying your home in Englewood?
For many people, purchasing a home can be an intimidating event. However, with some planning ahead of time, it's not very confusing.
So they understand exactly what to expect, I like to give buyers an overview of the whole deal.
Below 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 questions you have regarding this information.
Step 1 – Prepare to purchase
Before you begin searching for a home, there are several things you'll want to contemplate.
When you start your search, you'll probably want to put together a list of items you want to have, get a plan of what school districts and neighborhoods you want to live in, and begin planning around your budget.
A good rule of thumb to follow is that your mortgage payment should be around 1/3 of your monthly income.
Step 2 – Connect with a real estate agent
That's where I come in.
I'd love to plan a time to meet with you and communicate with you regarding why you want to buy a home and get an idea of your upcoming plans.
We'll discuss everything from neighborhoods, school districts in the Englewood area, the mortgage industry, to any other economic factors that might affect your buying decision today or in the future.
I'll also assist you with getting started on your loan.
There are some great mortgage professionals in Englewood, and I work with a lot of them, so you're in great hands.
They will assist you in determining which type of loan is best for you and help you get approved.
Step 3 – Begin looking for a house
After our initial meeting, I'll start looking for available homes on the market that are a great fit for you.
I'll get a sneak peek of most of the houses and reject the bad ones, and then we'll book appointments to tour the homes when it's convenient for you.
As we view homes, I'll identify good features, as well as negative ones. And I'll ask you to talk about things you like and don't like.
Generally, buyers change their list of must-haves as we tour homes and some items become far more important than others.
If that's the case, I'll look through the listings another time and narrow it down to the house you've been waiting for.
Step 4 – Know the housing market
Your agent's knowledge of the Englewood home market is a crucial factor in your home search. And I can assure you I'm informed of all the neighborhoods and school districts, and I'll let you know some areas are "hot" and demand immediate action and some that are "cold" and allow for careful consideration.
As we view homes, I'll let you know if the asking price has room for negotiation or if I believe the house is "priced to sell."
Any REALTOR will convince you they comprehend the housing market, but be on guard, and make sure you ask lots of questions.
If it doesn't seem like they know everything, just call me at 3038431545 or e-mail me at , and I'd be happy to answer any questions you may have. My knowledge of the market will help you stay a step above the rest through the entire process.
Step 5 – Find your dream house
I'm certain we'll find your dream house in the Englewood area. When we do, I'll meticulously create your real estate purchase offer. The offer will be made to suit your needs and the home. We'll include several contingencies, such as obtaining financing, carrying out the home inspection, and a clean title.
When submitting your offer, you'll need to present "earnest money." This is a cash deposit submitted to the home seller to secure the offer to buy the property and is usually put towards the closing costs. If the seller accepts the offer, we should close within 30 to 60 days after. This allows sufficient time for your mortgage financing.
Step 6 – Negotiate the deal
Unfortunately most contracts aren't closed on the first offer. It's really common to receive a counter offer. Don't let this discourage you. We'll talk about whether or not to consent to the counter offer, submit our own counter offer, or reject the seller's offer and go on.
How aggressively we negotiate the deal depends on the state of the market.
We'll also work within your financing budget. And at the end of the day, we'll put together a deal that is best for you.
Step 7 – Get your loan
Upon finalizing the contract, you'll start working with your mortgage lender to close the loan.
If you're already pre-approved, this won't be a long process at all, but you should to stay in close contact with your lender.
And I'll sort out all the property information your mortgage lender will need to close the loan.
Step 8 – Close the deal
You'll get a Loan Estimate (LE) detailing your closing costs from your lender within three days of receiving your loan application.
The estimate rests on the loan amount, and RESPA requirements order that it has to contain all closing costs and fall within a precise range of accuracy. I'll go over the estimate and let you know if everything looks good.
Then we'll close on your home. This will likely happen at a title company or escrow office and will most likely be a smooth and relaxing occurrence.
Step 9 – Move in
Congratulations! Now you can move into your new house. Enjoy it. And if you need anything, be sure to contact me at 3038431545 or e-mail me at .