Purchasing a home intimidates many people, but with a bit of planning ahead of time, it's not too confusing.
So you understand exactly what to expect, I like to give my buyers an outline of the entire deal.
Here are my nine steps to buying a home.
If you have any questions regarding any of this information or if you're ready to get started, e-mail me at firstname.lastname@example.org, or call me 303-921-0655.
Step 1 – Prepare to buy a home
Before you begin looking for a home, there are a lot of things you need to do.
You'll most likely want to put together a checklist of items you need to have, get a plan of what neighborhoods and school districts you'd like to live in, and start working on your budget.
Ensuring your mortgage payment is no more than 30 percent of your net monthly income is a good guideline to adhere to.
Step 2 – Talk to a real estate agent
That's where I can help.
I'd love to arrange a time to get together with you and 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 potentially affect your buying decision today or in the future, as well as neighborhoods and schools in the Castle Rock area.
I can also help you begin the loan process.
There are some great mortgage professionals in Castle Rock, and I work with a lot of them, so you'll be in great hands.
They'll help you figure out which type of loan is best for you, as well as help you get approved.
Step 3 – Start looking
After our first meeting, I'll begin finding available homes on the market that best suit you.
I'll research most of the houses and eliminate the duds, and then we'll book appointments to tour the homes whenever it's most convenient for you.
When we view the homes, I'll point out good features and bad ones. I'll also ask you to point out what things you like and dislike.
Usually, buyers amend their list of must-haves as we tour homes and some items become far more substantial than others.
If such is the case, I'll look through the listings once again and narrow it down to the home of your dreams.
Step 4 – Get a grasp of the housing market
My knowledge of the Castle Rock housing market is a valuable benefit in your home search. I am informed of all the schools and neighborhoods, and I can alert you to which areas are "hot" and call for prompt action and the ones that are "cold" and allow for careful consideration.
When we view houses, I'll let you know when the seller's asking price has room for bargaining and also when I believe the house is "priced to sell."
Any REALTOR® will tell you they truly know the market, but take notice, and make sure you ask your agent plenty of questions.
If it doesn't seem like they know everything, contact me at 3039210655 or e-mail me at email@example.com, and I'd be more than happy to answer any questions you might have. My market expertise will keep you a step ahead throughout the entire deal.
Step 5 – Find the home you've been waiting for
We'll find the house of your dreams in the Castle Rock area, and when that happens, I'll carefully create your home purchase offer. The offer will be made with your needs in mind. Whenever necessary, I never forget to make contracts contingent upon items like acquiring financing and the results of the home inspection.
When turning in your offer, you'll need to present "earnest money." This is a cash deposit given to a seller to secure an offer to buy the property, and it's most often applied to the closing costs. If the seller accepts your offer, we should close about 30 to 60 days afterward. This allows enough time for your mortgage financing.
Step 6 – Negotiate the deal
Most deals aren't closed on the beginning offer. It's very common to receive a counter offer. But don't let this intimidate you. We'll talk about whether or not to consent to the counter offer, propose our own counter offer, or refuse the seller's offer and go on.
How aggressively we negotiate the contract depends on the state of the market.
We'll also work within your financing constraints. And when it's all said and done, we'll put together a deal that's best for you.
Step 7 – Get financing
After we sign the final deal, you'll begin working with your mortgage lender to close the loan.
It won't be a long process at all if you're already pre-qualified, but you should to keep in close contact with your mortgage lender.
And I'll take care of all the property information your lender will need to close the loan.
Step 8 – Close the deal
You'll get a Good Faith Estimate (GFE) of closing costs from your mortgage lender within three days of receiving your application.
The estimate rests on the loan amount, and RESPA requirements mandate that it has to involve all closing costs and be within a close range of accuracy. I'll examine the estimate and let you know if everything looks all right.
Then it's time to close on your home. This will probably occur at a title company or escrow office and is often a smooth and peaceful affair.
Step 9 – Move in
You made it! Now you can move into your new house. Enjoy it. And if you need anything or have any questions, just contact me at 303-921-0655 or send me an e-mail.