Buying or selling a home?
Buying a home is intimidating for most people. However, with a bit of up-front planning, it isn't too complicated.
So they'll understand exactly what they can expect, I like to furnish buyers with an overview of the whole deal.
These 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 any questions you have regarding this information.
Step 1 – Prepare to purchase a home
Before you begin searching for a home, there are plenty of things you need to contemplate.
You'll want to put together a list of items you want, get a feel for what neighborhoods you want to live in, and begin planning your budget.
Keeping your mortgage payment around 1/3 of your net monthly income is a good rule to follow.
Step 2 – Talk to a real estate agent in Loveland
This is where At Home Real Estate Company comes in.
I'd love 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 discuss the mortgage industry, other economic factors that could affect your purchase today or in the future, as well as neighborhoods and schools in the Loveland area.
I'll also help you get started on your loan.
At Home Real Estate Company works with some of Loveland's best mortgage professionals, so you're in great hands.
They can help you decide which kind of loan is best for you, as well as help you get approved.
Step 3 – Start your home search
After we meet, I'll start searching for available houses on the market that are good for you.
I'll get a sneak peek of most of the homes and exclude the duds, and then we'll set up appointments to tour the houses whenever it's convenient for you.
When we tour the homes, I'll show you the good features, as well as negative ones. I'll even ask you to talk about things you like and don't like.
Generally, buyers amend their list of must-haves as we view houses and some items become far more crucial than others.
If such is the case, I'll look through the listings again and narrow it down to the home of your dreams.
Step 4 – Know the market
My awareness of the Loveland housing market is a fundamental component in your house search. I am informed of all the schools and neighborhoods, and I can let you know some areas are "hot" and require immediate action and some that are "cool" and allow for thoughtful examination.
When we tour houses, I'll be sure to tell you when the seller's asking price has room for bargaining and also when I trust the home is "priced to sell."
When working with an agent, be mindful and be sure to ask a lot of questions, as any real estate agent in Loveland will convince you they comprehend the home market.
If things don't add up, just call me at (970) 203-1101 or e-mail me at , and I'll be more than happy to answer any questions you might have. My market knowledge will help you stay a step ahead through the entire deal.
Step 5 – Find your dream home
I'm certain we'll find the home of your dreams in Loveland. When that happens, I'll carefully develop your real estate purchase offer. The offer will be made to fit your needs and the home. We'll include a lot of contingencies, such as obtaining financing, carrying out the inspection, and a clean title.
Upon turning in your offer, you'll probably want to submit "earnest money." This is a cash deposit submitted to the home seller to secure the offer to purchase the property and is usually applied to the closing costs. If your offer is accepted, we should close on the home within 30 to 60 days afterward. This allows plenty of time for your mortgage financing.
Step 6 – Negotiate
A lot of deals don't close on the beginning offer – it's widely common to receive a counter offer. But don't let it intimidate you. We'll consider whether or not to take the counter offer, propose our own counter offer, or decline the seller's offer and go on.
Market conditions determine how aggressively we negotiate the contract.
We'll also work within your financing constraints. And at the end of the day, we'll put together a deal that's best for you.
Step 7 – Secure a loan
Once we sign the final contract, you'll start working with your lender to close the loan.
If you've been pre-qualified, it shouldn't take much time at all, but you need to keep in close contact with your lender.
And I'll take care of all the property information your lender will need to close the loan.
Step 8 – Close the deal
You'll get a Good Faith Estimate (GFE) of closing costs from your lender within three days of receiving your application.
The estimate is formed from the loan amount, and RESPA requirements require that it has to contain all closing costs and be within a precise range of accuracy. I'll study the estimate and let you know if it all looks adequate.
Then it's time to close on your home. This will likely occur at a title company or escrow office and will most often be a smooth and hassle-free occasion.
Step 9 – Move in
Congratulations! It's time to move into your new house. Enjoy it. And if you need anything or have any questions, just call me at (970) 203-1101 or e-mail me at .