Buying a home is an intimidating event for many people, but with a bit of up-front planning, it's not that complicated.
I like to supply buyers with a road map of the whole deal so they know exactly what they can expect.
These are my nine steps to buying a home.
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If you have questions about this information or if you're ready to get started, just contact me here or e-mail me at KerriKarcz@aol.com.
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Step 1 – Get ready to buy a home
There are a lot of things you should contemplate before beginning your home search.
When you begin your search, you'll want to put together a list of features you need to have, get an idea of what school districts you'd like to live in, and begin planning your budget.
Keeping your mortgage payment less than or close to 30 percent of your monthly income is a good rule to follow.
Step 2 – Speak with a real estate agent
This is where Metro Brokers Mountain Lifestyle Real Estate - Kerri Karcz-Rougemont comes in.
I'd love to arrange a time to meet with you and talk about why you want to buy a home and get an idea of your future plans.
We'll talk about everything from neighborhoods, school districts in the Silverthorne area, the mortgage and housing industries, to any other economic factors that might affect your purchase today or in the future.
I can also help you start the loan process.
Metro Brokers Mountain Lifestyle Real Estate - Kerri Karcz-Rougemont works with some of Silverthorne's finest mortgage professionals, so you're in great hands.
They can assist you in figuring out which kind of loan is best for you and help you get approved.
Step 3 – Begin looking for a house
After our initial meeting, I'll begin looking for homes on the market that are a good fit for you.
I'll get a sneak peek of many of the homes and reject the duds, and then we'll book appointments to view the homes at a time that's convenient for you.
When we tour the homes, I'll point out positive features, as well as bad ones. And I'll ask you to tell us about things you like and dislike.
It's pretty common for buyers to update their must-have list as we tour homes and some things become more necessary than others.
If that's the case, I'll look through the listings once more and trim it down to the house you've been wishing for.
Step 4 – Get a grasp of the housing market
My awareness of the Silverthorne market is a valuable advantage in your home search. I am acquainted with all the neighborhoods and school districts, and I will communicate what neighborhoods are "hot" and require prompt action and the ones that are "cool" and allow for cautiousness.
As 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."
Trust your instincts and be sure to ask your agent a lot of questions, as every real estate agent will tell you they know the housing market.
If things don't add up, contact me at (970) 513-1313 or e-mail me at KerriKarcz@aol.com, and I'd be glad to answer your questions. My understanding of the market will help you stay a step above the rest throughout the entire deal.
Step 5 – Find the home you've been waiting for
I'm certain we'll find your dream house in Silverthorne. When we do, I'll thoroughly develop your purchase offer. The offer will be tailored to suit your needs, including several contingencies. A few examples are acquiring financing, completing the home inspection, and a clear title.
Upon sending in your purchase offer, most likely you'll want to present "earnest money." This is a cash deposit made to the home seller to secure the offer to purchase the property and is usually put towards the closing costs. If the seller accepts the offer, we should close on the property within 30 to 60 days afterward. This allows plenty of time for your mortgage financing.
Step 6 – Negotiate
Unfortunately most contracts don't close on the first offer, and it's really common to receive a counter offer. But don't let this discourage you. We'll figure out whether or not to agree to the counter offer, present our own counter offer, or reject the seller's offer and go on.
How aggressively we negotiate the deal depends on market circumstances.
We'll also work within your budget. And when it's all said and done, we'll formulate a deal that works well for you.
Step 7 – Obtain a loan
Once we sign the final sales contract, you'll start working with your lender to close the loan.
It won't take long at all if you're pre-approved, but you'll need to stay in close contact with your lender.
And I'll care for all the property information your lender needs 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 receiving your application.
This estimate rests on the loan amount, and RESPA requirements require that it has to contain all closing costs and fall within a tight range of accuracy. I'll study the estimate and let you know if everything looks permissible.
Then we'll close on your house. This will most often happen at a title company or escrow office and will most likely be a smooth and calm occasion.
Step 9 – Move in
Congratulations! It's time to move into your new home. Enjoy it. And if you need anything, just call me at (970) 513-1313 or send me an e-mail.