Are you purchasing your home in Englewood?
With a little planning ahead of time, buying a home isn't too difficult, but the event is intimidating for a lot of people.
I like to give buyers an outline of the entire deal so they understand exactly what to expect.
These 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 glad to address any questions you have regarding this information.
Step 1 – Get ready to buy
There are several things you'll want to consider before commencing your home search.
When you begin your search, you'll probably want to make a list of items you want, get a feeling for what neighborhoods you want to live in, and begin planning your budget.
Keeping your mortgage payment less than 30 percent of your net monthly income is a good rule of thumb to go by.
Step 2 – Contact a real estate agent in Englewood
That's where I can help.
I'd like to arrange a time to meet with you and communicate with you about why you want to buy a home and get an idea of your upcoming plans.
We'll discuss neighborhoods, schools in the Englewood area, the mortgage and housing industries, and any additional economic factors that might affect your buying decision today or in the future.
I'll also help you start the loan process.
There are some great 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 help you figure out which kind of loan is best for you, as well as help you get approved.
Step 3 – Begin looking for a house
After we meet for the first time, I'll begin looking for homes on the market that are a great fit for you.
I'll get a sneak peek of many of the homes and ignore the duds, and then we'll set up appointments to view the homes whenever it's convenient for you.
As we tour homes, I'll point out good features and negative ones. I'll even ask you about things you like and dislike.
It's common for buyers to update their list of must-haves as we tour houses and some items become more crucial than others.
If that happens, I'll look through all the listings another time and trim it down to the house you've been dreaming about.
Step 4 – Understand the market
An agent's understanding of the Englewood housing market is a crucial component in your home search. And I assure you I'm informed of all the schools and neighborhoods, and I will alert you to some neighborhoods are "hot" and demand prompt action and the ones that are "cool" and allow for careful analysis.
As we tour houses, I'll let you know if the list price has room for bargaining or if I believe the home is "priced to sell."
Be mindful and be sure to ask your agent lots of questions, as any real estate agent in Englewood will convince you they comprehend the home market.
If things don't add up, just call me at 3038431545 or e-mail me at , and I'd be glad to answer your questions. My market expertise will keep you a step ahead through the entire process.
Step 5 – Find the home of your dreams
I know we'll find the home of your dreams in the Englewood area. When we do, I'll meticulously develop your purchase offer. The offer will be tailored exactly to your needs and the home, including many contingencies. A few examples are getting financing, completing the home inspection, and a clean title.
When sending in your purchase offer, you'll likely need to present "earnest money." This is a cash deposit given to the home seller to secure an offer to buy the property, and it's often put towards the closing costs. If the offer is accepted by the seller, we should close on the home within 30 to 60 days after. This allows necessary time for your mortgage financing.
Step 6 – Negotiate the deal
A lot of deals aren't closed on the beginning offer, and it's widely common to receive a counter offer. But don't let it alarm you. We'll consider whether or not to consent to the counter offer, present our own counter offer, or reject the seller's offer and move on.
The state of the market will play a part in how aggressively we negotiate the deal.
We'll also work within your financing constraints. And when it's all said and done, we'll compose a contract that's best for you.
Step 7 – Get financing
Upon completing the contract, you'll start working with your mortgage lender to close the loan.
If you're pre-qualified, it shouldn't take very long at all. However, you'll want to keep in close contact with your mortgage lender.
And I'll care for all the property information your lender will need to close the loan.
Step 8 – Close the deal
You'll get a Loan Estimate (LE) of your closing costs from your lender within three days of accepting your loan application.
The estimate is formed from the loan amount, and RESPA requirements order that it has to involve all closing costs and fall within a close range of accuracy. I'll analyze the estimate and let you know if everything looks okay.
Then it's time to close on your house. This will most likely occur at a title company or escrow office and will most often be a smooth and pleasant event.
Step 9 – Move in
Congratulations! It's time to move into your new home. Enjoy it. And if you have any questions, just call me at 3038431545 or e-mail me at .