Buying or selling a home?
For many people, buying a home can be an intimidating event. However, with a little up-front planning, it's not that confusing.
So they'll understand exactly what to expect, I will provide buyers with a road map of the entire deal.
These 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 glad to address questions you have regarding this information.
Step 1 – Prepare to purchase
There are several things you should take into account before you search for a home.
When you start your search, you'll probably want to create an index of features you need to have, get a plan of what school districts you want to live in, and start working on your budget.
Keeping your mortgage payment less than or around 30 percent of your monthly income is a good rule of thumb to adhere to.
Step 2 – Communicate with a real estate agent
That's where I can help.
We'll schedule a time to get together so we can talk about your real estate needs and get an idea of your plans for the future.
We'll talk about the mortgage industry, other economic factors that may potentially affect your buying decision today or in the future, as well as neighborhoods and schools in the Loveland area.
I can also help you facilitate the loan process.
There are some very good mortgage professionals in Loveland, and I work with a lot of them, so you're in great hands.
They can assist you in deciding which kind of loan is best for you and help you get qualified.
Step 3 – Begin looking
After our first meeting, I'll begin finding houses on the market that best suit you.
I'll research most of the homes and throw out the bad ones, and then we'll book appointments to tour the homes when it's convenient for you.
When we tour the houses, I'll point out positive features, as well as negative ones. And I'll ask you to point out what things you like and don't like.
It's pretty common for buyers to change their list of must-haves as we view homes and some items become far more crucial than others.
If that's the situation, I'll go back through all the listings again and narrow it down to the home of your dreams.
Step 4 – Know the housing market
An agent's awareness of the Loveland market is an essential component in your home search. And I can assure you I'm acquainted with all the schools and neighborhoods, and I can communicate what districts are "hot" and demand prompt action and some that are "cool" and allow for cautiousness.
When we tour houses, I'll be sure to tell you when the asking price has room for bargaining and also when I think the house is "priced to sell."
Be careful and be sure to ask a lot of questions, as every REALTOR will claim to truly understand the housing market.
If it appears they don't know everything, call me at (970) 203-1101 or e-mail me at , and I'll be glad to answer your questions. My market knowledge will help you stay a step ahead throughout the entire process.
Step 5 – Find the house of your dreams
We'll find your dream house in Loveland, and when that happens, I'll thoroughly develop your real estate purchase offer. The offer will be made to fit your needs and the home. We'll include several contingencies, such as obtaining financing, carrying out the inspection, and a clear title.
Upon submitting your offer, you'll need to present "earnest money." This is a cash deposit submitted to a seller to secure an offer to buy the property and is most often put towards the closing costs. If the offer is accepted, we should close on the property within 30 to 60 days after. This allows plenty of time for your mortgage financing.
Step 6 – Negotiate
Most contracts don't close on the beginning offer, and it's pretty common to receive a counter offer. Don't let this alarm you. We'll talk about whether or not to take the counter offer, propose our own counter offer, or decline the seller's offer and move on.
The state of the market determines how aggressively we negotiate the deal.
We'll also work within your budget. And at the end of the day, we'll compose a contract that works well for you.
Step 7 – Get financing
Upon finishing the deal, you'll start working with your mortgage lender to close the loan.
This shouldn't take very long at all if you're pre-qualified, but you should to stay in close contact with your mortgage lender.
And I'll care for all the property information your mortgage lender will need to close the loan.
Step 8 – Close the deal
Your mortgage lender will furnish you with a Loan Estimate (LE) outlining closing costs within three days of receiving your loan application. You'll get a Loan Estimate (LE) of closing costs from your mortgage lender within three days of receiving your loan application.
This estimate is based on the loan amount, and RESPA requirements order that it has to include all closing costs and fall within a precise range of accuracy. I'll analyze the estimate and let you know if everything looks okay.
Then we'll close on your home. This will most often take place at a title company or escrow office and will likely be a smooth and stress-free occurrence.
Step 9 – Move in
Congratulations! It's time to move into your new home. Enjoy it. And if you need anything, simply call me at (970) 203-1101 or e-mail me at .