Buying a new home in Loveland with At Home Real Estate Company
Buying a home is intimidating for a lot of people, but it isn't very complex with a bit of up-front planning.
I like to supply buyers with an overview of the whole deal so they know exactly what they can expect.
Below are my nine steps to purchasing a home.
Should you have any questions regarding any of this information or if you're ready to get started, simply contact me here or e-mail me at .
Step 1 – Prepare to purchase a home
There are a lot of things you should do before commencing your home search.
When you begin your search, you'll probably want to put together a list of items you need to have, get an idea of what neighborhoods you'd like to live in, and start planning your budget.
Keeping your mortgage payment less than or close to 30 percent of your monthly income is a good rule of thumb to follow.
Step 2 – Talk to a real estate agent in Loveland
This is where I can help.
We can arrange a time to meet so we can talk about your real estate needs and get an idea of your plans for the future.
We'll discuss neighborhoods, school districts in the Loveland area, the mortgage and housing industries, and any additional economic factors that could potentially affect your buying decision today or in the future.
I can also assist you with getting started on your loan.
At Home Real Estate Company works with some of the best mortgage professionals in Loveland, so you can rest assured that you're in great hands.
They will assist you with determining which kind of loan is best for you and help you get approved.
Step 3 – Begin looking for a house
After our first meeting, I'll begin looking for homes on the market that are great for you.
I'll preview most of the houses and ignore the duds, and then we'll schedule appointments to tour the homes when it's convenient for you.
As we tour the houses, I'll call attention to good features, as well as bad ones. I'll even ask you about things you like and don't like.
It's widely common for buyers to amend their list of must-haves as we tour houses and some things become far more substantial than others.
If that's the case, I'll look through all the listings once again and narrow it down to the house you've been waiting for.
Step 4 – Know the housing market
Your agent's awareness of the Loveland market is a leading component in your house search. And I assure you I'm acquainted with all the schools and neighborhoods, and I will alert you to some districts are "hot" and require prompt action and the ones that are "cold" and allow for cautiousness.
When we tour houses, I'll be sure to tell you if the list price has room for bargaining or if I believe the house is "priced to sell."
When working with an agent, be careful and make sure you ask lots of questions. Every real estate agent in Loveland will convince you they know the housing 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 may have. My understanding of the market will keep you a step above the rest throughout the entire deal.
Step 5 – Find the home of your dreams
I'm positive we'll find your dream house in the Loveland area. When that happens, I'll meticulously create your 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.
When we submit your purchase offer, you'll want to present "earnest money." This is a cash deposit given to the seller to secure an offer to purchase the property, and it's typically put towards the cost of closing. If the seller accepts your offer, we should close on the property within 30 to 60 days afterward. This allows ample time for your mortgage financing.
Step 6 – Negotiate the deal
A lot of deals aren't closed on the initial offer – it's pretty common to receive a counter offer. But don't let this discourage you. We'll talk about whether or not to accept the counter offer, propose our own counter offer, or refuse the seller's offer and move on.
The state of the market will play a vital role in how aggressively we negotiate the deal.
We'll also work within your financing budget. And when it's all said and done, we'll put together a contract that's best for you.
Step 7 – Secure your loan
Upon completion of the deal, you'll start working with your lender to close the loan.
If you're already pre-qualified, this won't take long at all. But you need to stay in close contact with your lender.
And I'll manage all the property information your mortgage lender needs to close the loan.
Step 8 – Close the deal
You'll get a Loan Estimate (LE) outlining closing costs from your lender within three days of getting your application.
The estimate is based on the loan amount, and RESPA requirements mandate that it has to include all closing costs and be within a close range of accuracy. I'll go over the estimate and let you know if everything looks okay.
Then we'll close on your house. This will most often take place at a title company or escrow office and will likely be a smooth and calm occasion.
Step 9 – Move in
Congratulations! Now you can 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 .