Buying or selling a home in Loveland?
Buying a home can be stressful for many people, but with a bit of up-front planning, it isn't that confusing.
I like to provide buyers with a road map of the whole deal so they understand exactly what they can expect.
Here are my nine steps to buying a home.
If you have any questions about any of this information or if you're prepared to get started, just contact me here or e-mail me at .
Step 1 – Get ready to purchase
Before you begin searching for a home, there are plenty of things you'll want to consider.
It's likely that you'll want to put together an outline of must-haves, get a plan of what school districts you'd like to live in, and start planning your budget.
Ensuring your mortgage payment is less than or close to a third of your monthly income is a good rule of thumb to adhere to.
Step 2 – Connect with a real estate agent
That's where I come in.
I'd love to set up a time to meet with you and speak with you about your real estate needs and get an idea of your future plans.
We'll discuss the mortgage and housing industries, other economic factors that could affect your purchase today or in the future, as well as neighborhoods and schools in the Loveland area.
In addition, I'll help you begin the loan process.
There are some great mortgage professionals in Loveland, and I work with a lot of them, so you'll be in great hands.
They'll assist you with determining which type of loan is best for you and help you get approved.
Step 3 – Start looking for a house
Following our initial meeting, I'll start looking for available homes on the market that are good for you.
I'll preview many of the homes and eliminate the duds, and then we'll book appointments to view the homes at a time that's convenient for you.
When we tour houses, I'll point out good features, as well as negative ones. I'll even ask you to point out what things you like and don't like.
It's pretty common for buyers to amend their list of must-haves as we view houses and some items become far more necessary than others.
If that's the situation, I'll search the listings another time and trim it down to the house of your dreams.
Step 4 – Comprehend the housing market
My awareness of the Loveland market is an imperative factor in your house search. I'm informed of all the neighborhoods and schools, and I'll communicate which areas are "hot" and demand prompt action and some that are "cold" and allow for thoughtful consideration.
When we tour homes, I'll let you know if the list price has room for negotiation or if I believe the house is "priced to sell."
When working with an agent, be mindful and make sure you ask plenty of questions, as any REALTOR in Loveland will convince you they truly know the home market.
If things don't add up, just call me at (970) 203-1101 or e-mail me at , and I'd be glad to answer any questions you might have. My understanding of the market will keep you a step ahead throughout the entire deal.
Step 5 – Find your dream home
We'll find your dream house in Loveland, and when we do, I'll precisely create your real estate purchase offer. The offer will be tailored with your needs in mind and the home, including a lot of contingencies. A few examples are getting financing, completing the home inspection, and a clear title.
Upon turning in your purchase offer, you'll need to submit "earnest money." This is a cash deposit given to a home seller to secure an offer to purchase the property and is usually put towards the closing costs. If the offer is accepted, we should close on the home about 30 to 60 days after. 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 really common to receive a counter offer. Don't let it intimidate you. We'll consider whether or not to accept the counter offer, propose our own counter offer, or reject the seller's offer and move on.
Market circumstances determine how aggressively we negotiate the deal.
In addition, we'll work within your financing limits. And when it's all said and done, we'll assemble a deal that is best for you.
Step 7 – Get a loan
After the deal is complete, you'll start working with your lender to close the loan.
If you're already pre-qualified, it won't take very long at all. However, you'll need to stay in close contact with your lender.
And I'll look after all the property information your lender needs to close the loan.
Step 8 – Close the deal
Your mortgage lender will give you a Loan Estimate (LE) outlining your closing costs within three days of receiving your application. You'll get a Loan Estimate (LE) outlining your closing costs from your mortgage lender within three days of getting your loan application.
The estimate rests on the loan amount. RESPA requirements mandate that it has to involve all closing costs and be within a strict range of accuracy, and I'll analyze the estimate and let you know if everything looks okay.
Then it's time to close on your house. This will most likely occur at a title company or escrow office and will most likely be a smooth and easygoing affair.
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, be sure to contact me at (970) 203-1101 or e-mail me at .