I love helping people find homes! So if you either have never purchased a home before, or maybe need a refresher on the process, I would love to help you understand the steps in the Home Buying Process and be your guide. There are many more details that I will fill you in on along the way, but this is a great starting read if you’re considering purchasing in order to know what to expect along the way. And did you know my services to home buyers typically cost them nothing?? Yep! So review this page, then reach out with any questions!
The 9 Steps of Home Buying:
- Get Pre-Approved: The first step should be making sure you can obtain a loan (if needed), and how much you can qualify for. This will give you and me both the information needed to properly begin your search. You will need pay stubs, W2s, and bank statements. Knowing what you can afford is critical to a successful home shopping experience. Your lender should explain to you the total cost of purchasing a home including reviewing the various loan types, interest rates, and what the closing costs are expected to be.
- Meet with a real estate professional: (This can be done before step one, but in a perfect world you will be pre-approved first) This where you contact me and we discuss the type of home you’re looking for, including style, price, and location.
- DID YOU KNOW: As the home buyer, my commission is paid by the seller at closing out of the proceeds from the sale in almost all circumstances. This means my assistance and representation costs you nothing out of pocket!
- Search for Homes: The fun part! If I have not already I will be setting you up with my home search portal that will send you a list of all the homes available on the market today, and update you the same day when new homes come on the market. I will also be scheduling all showings and speaking with the listing agents to discover any private details about the home or seller’s requests that can assist us with our offer, if you decide to submit one. Advanced Search: I have tools and systems in place to ensure you see EVERY available home that meets your criteria that becomes available. This will include me searching for properties that are off-market, coming soon, new construction, or for-sale-by-owner (FSBO). I also get emails daily from the over 1,200 Brokers Guild Agents in the Denver area about new or upcoming listings.
- Submit an Offer: I will prepare your offer based on the price and terms you choose. Through my experience and in speaking with the listing agent, I will advise you on what it takes to win an offer with this particular seller and insert clear and precise language to reflect that.
- Negotiations: This is where the seller may want changes to the contract we wrote. This typically means they’re interested, but for example, maybe the seller needs a date changed, or they wish to negotiate the purchase price we submitted. I will be guiding you through any and all negotiations and ONLY move forward with changes following your understanding and approval.
- Under Contract or In Escrow: You and the seller have now agreed to the price and terms! You will need to submit the earnest money (deposit) at this time, which will effectively hold the home for you until closing and give the seller confidence you are not going to back out. While you can back out for many valid reasons throughout the transaction process, after this point you cannot just get cold feet and walk away without potentially losing this money.
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Reviewing the Contract The Contract: This is when my job gets busy! The contract will provide us with a timeline to obtain financing, get the home inspected and appraised, gather title documentation, and review all HOA documents (if applicable). Don’t worry, I will be making sure all of this gets done, and ON TIME for you. I will be informing you of all your rights and responsibilities related to the contract during every step. Once completed, we will be reviewing all appraisal and inspection reports, and we will request any repairs to be made and insert them in the contract. You will also review the final financing terms with your lender.
- Preparing for Closing: You will be finalizing your loan and the title company will ensure a clean title for your new home. I will be performing a walk though to ensure all requested repairs are done as specified in the contract, and we will arrange a day and time of the closing.
- Closing: We will be performing a final walk though the day of closing. A title company or an attorney will typically act as an independent third party to facilitate the closing. This is the transfer of funds and ownership. YOU GET THE KEYS! CONGRATS!
Reach out with any questions! I will reply or call you within 24 hours!