Are you buying your new home in Loveland?
With some planning ahead of time, buying a home isn't too complex, but the event intimidates a lot of people.
I like to furnish buyers with a road map of the entire deal so they know 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 happy to answer any questions you have about this information.
Step 1 – Get ready to purchase
There are a lot of things you should take into account before starting your home search.
When you start your search, you'll want to put together a list of must-have features, get a feeling for what school districts and neighborhoods you want to live in, and start planning around your budget.
Keeping your mortgage payment less than or close to 30 percent of your net monthly income is a good guideline to go by.
Step 2 – Talk to a real estate agent in Loveland
This is where At Home Real Estate Company comes in.
I'd be happy to plan a time to meet with you and talk about your real estate needs and get an idea of your plans for the future.
We'll talk about everything from neighborhoods, school districts in the Loveland area, the mortgage industry, to any other economic factors that might affect your purchase today or in the future.
I can also help you start the loan process.
At Home Real Estate Company partners with some of Loveland's best mortgage professionals, so you're in great hands.
They'll assist you in determining which kind of loan is best for you and help you get approved.
Step 3 – Begin house hunting
After we meet for the first time, I'll start searching for available homes on the market that best suit you.
I'll get a sneak peek of most of the houses and remove the duds, and then we'll schedule appointments to tour the homes when it's convenient for you.
When we tour the homes, I'll show you the positive features, as well as bad ones. I'll even ask you to tell us about things you like and don't like.
It's common for buyers to revise their wish list as we view homes and some features become far more essential than others.
If that's the case, I'll search all the listings one more time and trim it down to the house you've been waiting for.
Step 4 – Know the housing market
Your agent's awareness of the Loveland housing market is an essential agent in your home search. And I assure you I'm familiar with all the schools and neighborhoods, and I'll let you know certain areas are "hot" and require prompt action and others that are "cool" and allow for cautiousness.
When we tour houses, I'll make sure to communicate when the asking price has room for negotiation and when I know the house is "priced to sell."
Be on guard and be sure to ask a lot of questions, as every real estate agent will claim to truly know the market.
If it appears they don't know everything, just call me at (970) 203-1101 or e-mail me at , and I'd be happy to answer any questions you have. My understanding of the market will help you stay a step ahead throughout the entire process.
Step 5 – Find the home you've been looking for
I'm sure we'll find the house of your dreams in the Loveland area. When that happens, I'll meticulously create your purchase offer. The offer will be tailored keeping your needs in mind and the home, including a lot of contingencies, such as obtaining financing, finishing the home inspection, and a clear title.
When turning in your purchase offer, most likely you'll need to submit "earnest money." This is a cash deposit submitted to the seller to secure an offer to purchase the property and is most often applied to the cost of closing. If the offer is accepted by the seller, we should close about 30 to 60 days after. This allows enough time for your mortgage financing.
Step 6 – Negotiate the deal
A lot of contracts aren't closed on the first offer, and it's extremely common to receive a counter offer. Don't let it alarm you. We'll figure out whether or not to agree to the counter offer, present our own counter offer, or refuse the seller's offer and go on.
Market circumstances determine how aggressively we negotiate the deal.
We'll also work within your financing constraints. And when it's all said and done, we'll create a contract that is best for you.
Step 7 – Secure a loan
Upon completion of the deal, you'll start working with your mortgage lender to close the loan.
If you're pre-approved, it won't take long at all, but you'll need to keep in close contact with your lender.
And I'll manage 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) outlining your closing costs from your lender within three days of taking your application.
The estimate rests on the loan amount, and RESPA requirements require that it has to include all closing costs and fall within a tight range of accuracy. I'll analyze the estimate and let you know if it all looks okay.
Then we'll close on your home. This will most often take place at a title company or escrow office and is often a smooth and relaxed affair.
Step 9 – Move in
Congratulations! Now you can move into your new house. Enjoy it. And if you need anything or have any questions, make sure you call me at (970) 203-1101 or e-mail me at .