Contemplating purchasing a home in Castle Rock?
Buying a home can be stressful for most people, but it's not too hard with a bit of planning ahead of time. I like to supply buyers with an outline of the entire deal so they understand exactly what to expect. These 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, you can contact me here or send e-mail to email@example.com.
Step 1 – Prepare to buy
There are several things you should consider prior to beginning your home search. You'll most likely want to put together a checklist of must-have features, get a feeling for what neighborhoods and school districts you'd like to live in, and begin working on your budget. Keeping your mortgage payment less than 1/3 of your monthly income is a good rule to follow.
Step 2 – Get with a real estate agent
This is where I can help. I'll set up a time to get together so we can talk about why you want to buy a home and get an idea of your future plans. We'll discuss neighborhoods, school districts in the Castle Rock area, the mortgage industry, and any additional economic factors that could affect your purchase today or in the future.
In addition, I'll help you facilitate the loan process. There are some excellent mortgage professionals in Castle Rock, and I work with a lot of them, so you'll be in great hands. They will help you decide which kind of loan is best for you, as well as help you get approved.
Step 3 – Start your search
Following our first meeting, I'll begin finding available homes on the market that are a good fit for you. I'll preview many of the houses and remove the duds, 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 talk about things you like and dislike. Generally, buyers amend their wish list as we view houses and some things become more substantial than others. If that's the case, I'll look through all the listings once more and narrow it down to the home of your dreams.
Step 4 – Get a feel for the housing market
My awareness of the Castle Rock home market is an indispensable advantage in your home search. I am acquainted with all the neighborhoods and schools, and I will let you know some areas are "hot" and demand prompt action and the ones that are "cool" and allow for more examination.
When we tour houses, I'll let you know when the seller's asking price has room for negotiation and also when I believe the home is "priced to sell." Be mindful and make sure you ask lots of questions, as every real estate agent will convince you they truly understand the market. If it appears they don't know everything, just call me at 303-638-8509 or e-mail me at firstname.lastname@example.org, and I'll be happy to answer your questions. My understanding of the market will keep you a step ahead throughout the entire process.
Step 5 – Find your dream home
I'm confident we'll find the house of your dreams in the Castle Rock area. When that happens, I'll carefully create your purchase offer. The offer will be tailored with your needs in mind, including a lot of contingencies, such as getting financing, completing the inspection, and a clean title.
When we send in your offer, you'll likely want to present "earnest money." This is a cash deposit made to a seller to secure an offer to purchase the property, and it's most often applied to the cost of closing. If your offer is accepted by the seller, we should close about 30 to 60 days afterward. This allows sufficient time for your mortgage financing.
Step 6 – Negotiate
Unfortunately most contracts aren't closed on the initial offer, and it's pretty common to receive a counter offer. But don't let it intimidate you. We'll figure out whether or not to consent to the counter offer, submit our own counter offer, or refuse the seller's offer and go on.
How aggressively we negotiate the deal depends on market circumstances. We'll also work within your financing limits. And at the end of the day, we'll put together a contract that's best for you.
Step 7 – Get your loan
After we sign the final deal, you'll start working with your mortgage lender to close the loan. If you're already pre-qualified, this shouldn't take very long at all, but you need to stay in close contact with your lender. And I'll deal with all the property information your mortgage lender needs to close the loan.>
Step 8 – Close the deal
Your mortgage lender will give you a Good Faith Estimate (GFE) of your closing costs within three days of accepting your application. This estimate is based on the loan amount. RESPA requirements mandate that it has to contain all closing costs and fall within a close range of accuracy, and I'll go over the estimate and let you know if everything looks permissible.
Then we'll close on your home. This should take place at a title company or escrow office and will likely be a smooth and calm event.
Step 9 – Move in
You made it! It's time to move into your new home. Enjoy it. And if you have any questions, simply contact me at 303-638-8509 or send me an e-mail.