Are you contemplating purchasing your new home in Loveland? At Home Real Estate Company can help.
For most people, buying a home is a stressful event. However, with some planning ahead of time, it's not very difficult.
I like to supply buyers with an outline of the whole 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 answer any questions you have about this information.
Step 1 – Prepare to buy
Prior to beginning your home search, there are plenty of things you should take into account.
You'll probably want to make a checklist of features you need to have, get a feel for what neighborhoods and school districts you'd like to live in, and begin working on your budget.
Ensuring your mortgage payment is less than a third of your monthly income is a good rule to follow.
Step 2 – Talk to a real estate agent in Loveland
That's where I come in.
We'll book a time to meet so we can talk about why you want to buy a home and get an idea of your plans for the future.
We'll talk about neighborhoods, school districts in the Loveland area, the mortgage industry, and any additional economic factors that might affect your purchase today or in the future.
I can also help you facilitate the loan process.
There are some excellent mortgage professionals in Loveland, and I partner with a lot of them, so you're in great hands.
They will help you determine which kind of loan is best for you, as well as help you get approved.
Step 3 – Start house-hunting
Following our first meeting, I'll begin searching for homes on the market that meet your needs.
I'll get a sneak peek of many of the homes and throw out the duds, and then we'll schedule appointments to view the houses when it's most convenient for you.
When we view the homes, I'll point out positive features, as well as negative ones. I'll even ask you to tell us about things you like and don't like.
Frequently, buyers update their must-have list as we view houses and some items become more important than others.
If such is the case, I'll go back through all the listings another time and trim it down to the house you've been wishing for.
Step 4 – Comprehend the housing market
My knowledge of the Loveland housing market is an imperative component in your house search. I am acquainted with all the neighborhoods and school districts, and I'll let you know which districts are "hot" and require immediate action and the ones that are "cool" and allow for careful examination.
As we view homes, I'll let you know when the list price has room for bargaining and also when I believe the house is "priced to sell."
When working with an agent, trust your instincts and make sure you ask plenty of questions. Any real estate agent in Loveland will convince you they comprehend the housing market.
If things don't add up, call me at (970) 203-1101 or e-mail me at , and I'd be happy to answer your questions. My market knowledge will keep you a step ahead through the entire deal.
Step 5 – Find the home of your dreams
We'll find the house of your dreams in the Loveland area, and when that happens, I'll carefully create your purchase offer. The offer will be tailored exactly to your needs and the home, including many contingencies, such as acquiring financing, completing the inspection, and a clear title.
Upon presenting your offer, you'll need to present "earnest money." This is a cash deposit submitted to the home seller to secure an offer to buy the property, and it's most often put towards the closing costs. If your offer is accepted by the seller, we should close on the property within 30 to 60 days afterward. This allows ample time for your mortgage financing.
Step 6 – Negotiate
A lot of contracts aren't closed on the initial offer. It's pretty common to receive a counter offer. But don't let it alarm you. We'll consider whether or not to take the counter offer, submit our own counter offer, or refuse the seller's offer and go on.
How aggressively we negotiate the deal depends on market conditions.
In addition, we'll work within your financing constraints. And at the end of the day, we'll put together a contract that works well for you.
Step 7 – Get your loan
Once the contract is signed, you'll start working with your mortgage lender to close the loan.
If you've been pre-qualified, it shouldn't take much time at all. However, you should to stay 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
Your lender will send you a Loan Estimate (LE) detailing your closing costs within three days of accepting your application. You'll get a Loan Estimate (LE) of your closing costs from your lender within three days of getting your application.
This estimate is based on the loan amount. RESPA requirements mandate that it has to involve all closing costs and fall within a precise range of accuracy, and I'll review the estimate and let you know if everything looks good.
Then it's time to close on your home. This will likely happen at a title company or escrow office and is often a smooth and stress-free occurrence.
Step 9 – Move in
Congratulations! Now you can move into your new house. Enjoy it. And if you need anything or have any questions, simply contact me at (970) 203-1101 or e-mail me at .