Buying your home in Loveland?
Buying a home is stressful for many people, but it isn't very confusing with a bit of up-front planning.
I like to supply buyers with an overview of the entire deal so they'll know exactly what they can expect.
Here are my nine steps to purchasing a home.
When you're ready to get started, you can contact me here or e-mail me at . I'm happy to address any questions you have about this information.
Step 1 – Get ready to buy
There are several things you'll want to do before you search for a home.
When you begin your search, you'll want to assemble a checklist of items you need, get an idea of what neighborhoods you'd like to live in, and start working on your budget.
Keeping your mortgage payment around 30 percent of your net monthly income is a good guideline to adhere to.
Step 2 – Connect with a real estate agent
That's where I can help.
We'll set up 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 discuss the mortgage industry, other economic factors that could affect your buying decision today or in the future, as well as neighborhoods and school districts in the Loveland area.
I'll also help you start the loan process.
I partner with some of the finest mortgage professionals in Loveland, so you're in great hands.
They'll help you decide which kind of loan is best for you, as well as help you get qualified.
Step 3 – Begin your home search
After we meet for the first time, I'll begin looking for houses on the market that are a great fit for you.
I'll get a sneak peek of most of the houses and ignore the duds, and then we'll set up appointments to tour the homes when it's convenient for you.
When we view homes, I'll call attention to good features and bad ones. I'll even ask you what things you like and don't like.
Most often, buyers revise their wish list as we view houses and some things become far more essential than others.
If that happens, I'll search all the listings one more time and narrow it down to the house you've been wishing for.
Step 4 – Know the housing market
Your agent's understanding of the Loveland home market is a fundamental element in your house search. And I can assure you I'm familiar with all the neighborhoods and school districts, and I'll communicate certain neighborhoods are "hot" and call for prompt action and some that are "cold" and allow for thoughtful consideration.
When we view houses, I'll be sure to tell you if the seller's asking price has room for bargaining or if I believe the home is "priced to sell."
When working with an agent, trust your instincts and make sure you ask plenty of questions, as every real estate agent in Loveland will claim to 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 have. My knowledge of the market will keep you a step above the rest throughout the entire deal.
Step 5 – Find the house of your dreams
We'll find the home of your dreams in Loveland, and when that happens, I'll thoroughly create your purchase offer. The offer will be tailored exactly to your needs and the home, including a lot of contingencies. A few examples are acquiring financing, carrying out the home inspection, and a clear title.
When sending in your offer, you'll want to present "earnest money." This is a cash deposit made to a home seller to secure the offer to purchase the property, and it's typically applied to the cost of closing. If the offer is accepted, we should close on the property within 30 to 60 days afterward. This allows enough time for your mortgage financing.
Step 6 – Negotiate
Unfortunately most contracts aren't closed on the first offer. It's very common to receive a counter offer. Don't let this alarm you. We'll figure out whether or not to accept the counter offer, present our own counter offer, or reject the seller's offer and go on.
Market conditions determine how aggressively we negotiate the contract.
In addition, we'll work within your budget. And when it's all said and done, we'll put together a contract that works well for you.
Step 7 – Get a loan
After we sign the final sales contract, you'll start working with your mortgage lender to close the loan.
This shouldn't take very long at all if you've been pre-approved, but you should to keep in close contact with your lender.
And I'll sort out all the property information your lender will need to close the loan.
Step 8 – Close the deal
Your mortgage lender will give you a Loan Estimate (LE) outlining closing costs within three days of receiving your loan application. You'll get a Loan Estimate (LE) outlining your closing costs from your mortgage lender within three days of getting your application.
This estimate rests on the loan amount, and RESPA requirements dictate that it has to include all closing costs and fall within a close range of accuracy. I'll examine the estimate and let you know if it all looks all right.
Then it's time to close on your house. This should happen at a title company or escrow office and should be a smooth and easygoing occurrence.
Step 9 – Move in
Congratulations! It's time to move into your new home. Enjoy it. And if you need anything or have any questions, just call me at (970) 203-1101 or e-mail me at .