Buying or selling a home in Broomfield?For a lot of people, purchasing a home is a stressful event. But with a bit of up-front planning, it's not very complicated. So you'll understand exactly what to expect, I like to supply my buyers with an outline of the whole deal. Here are my nine steps to purchasing a home.
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Step 1 – Prepare to buy a home
There are several things you need to contemplate before beginning your home search. When you begin your search, you'll want to put together a checklist of must-haves, get a plan of what school districts and neighborhoods you'd like to live in, and begin planning your budget. Keeping your mortgage payment around a third of your monthly income is a good guideline to go by.
Step 2 – Get in touch with a real estate agent in Broomfield
That's where I come in. I'd be more than happy to schedule a time to meet with you and speak with you regarding why you want to buy a home and get an idea of your future plans. We'll discuss the mortgage industry, other economic factors that may affect your purchase today or in the future, as well as neighborhoods and schools in the Broomfield area.
I can also assist you in getting started on your loan. There are some excellent mortgage professionals in Broomfield, and I partner with a lot of them, so you're in great hands. They'll help you choose which kind of loan is best for you, as well as help you get qualified.
Step 3 – Begin looking
Following our first meeting, I'll start looking for available houses on the market that best suit you. I'll preview many of the houses and remove the bad ones, and then we'll book appointments to tour the houses at a time that's convenient for you.
When we tour homes, I'll show you the positive features and bad ones. I'll also ask you to point out what things you like and don't like. For the most part, buyers revise their must-have list as we tour homes and some features become more essential than others. If such is the case, I'll search all the listings again and narrow it down to the home of your dreams.
Step 4 – Know the housing market
Your agent's knowledge of the Broomfield housing market is a crucial aspect in your home search. And I assure you I'm mindful of all the school districts and neighborhoods, and I will alert you to certain neighborhoods are "hot" and demand prompt action and others that are "cold" and allow for thoughtful analysis.
When we tour houses, I'll make sure to communicate if the seller's list price has room for bargaining or if I believe the house is "priced to sell."
When working with an agent, trust your instincts and be sure to ask lots of questions, as any real estate agent will tell you they understand the housing market.
If things don't add up, contact me at 303-648-2055 or e-mail me at email@example.com, and I'll be more than happy to answer any questions you may have. My market knowledge will help you stay a step ahead through the entire process.
Step 5 – Find the house of your dreams
I'm confident we'll find the home of your dreams in the Broomfield area. When we do, I'll precisely develop your purchase offer. The offer will be tailored to suit your needs, including a lot of contingencies, such as obtaining financing, carrying out the home inspection, and a clean title.
When we send in your offer, you'll want to present "earnest money." This is a cash deposit made to the seller to secure the offer to purchase the property, and it's usually put towards the closing costs. If the seller accepts the offer, we should close about 30 to 60 days afterward. This allows necessary time for your mortgage financing.
Step 6 – Negotiate
A lot of deals aren't closed on the beginning offer. It's pretty common to receive a counter offer. Don't let it alarm you. We'll discuss 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 determines how aggressively we negotiate the contract. We'll also work within your financing limits. And at the end of the day, we'll put together a deal that works well for you.
Step 7 – Get financing
Once the deal is finished, you'll start working with your mortgage lender to close the loan. If you're pre-approved, it won't be a long process at all. However, you'll want to stay in close contact with your lender. And I'll take care of all the property information your mortgage lender will need to close the loan.
Step 8 – Close the deal
You'll get a Good Faith Estimate (GFE) detailing your closing costs from your mortgage lender within three days of accepting your application. The estimate is formed from the loan amount. RESPA requirements order that it has to involve all closing costs and fall within a tight range of accuracy, and I'll analyze the estimate and let you know if it all looks good.
Then it's time to close on your house. This should take place at a title company or escrow office and will most often be a smooth and stress-free affair.
Step 9 – Move in
Success! It's time to move into your new house. Enjoy it. And if you need anything or have any questions, just contact me at 303-648-2055 or send me an e-mail.