Buying a home is one of the most exciting milestones of your life. To prepare yourself for this moment, you need to know what to expect during the process. This quick guide gives you a general idea of what to expect during the home buying process.

Quick Buyer's Guide

Step 1: Contact Me!!!

Let's face it, buying a home, especially your first home, can be intimidating. What can I afford? Where should I get a loan? What is Pre-QuaIified vs Pre- Approved? Who pays for what???

I'm happy to help answer all these questions & more as I guide you along the way. Along with my excellent team of referall partners, we can ensure professional assistance during your entire home buying experience.

Of course you can shop for & make an offer on a home without a real estate agent, but why would you when it costs you nothing to have the help of an agent like myself? I can help take away some of the stress of setting up showings & handling negotiations as well as give you professional insight that you may not be aware of. And with my background in furniture & interior design I can help you see the potential of a home you may not imagine at first glance.

STEP 2: Determine Your Budget and Get Pre-Approved

One of the first things you need to determine is a budget and payments that you are comfortable with. In many cases, a mortgage company will pre-approve you fora mortgage & montly payment beyond what you are wanting to spend on a monthly basis. I recommend doing a full household budget and taking into consideration what changes, in addition to a mortgage payment will occur once you move into your new home. You may have additional expenses you weren't paying before, such as an HOA fee, garbage, water etc. These need to be taken into consideration for your total monthly expenses.

Then contact a lender to determine what you are able to prequalify for within your ideal budget. Having a pre-approval letter ready when find your ideal home gives you an advantage in this competitive seller's market.

Work With Desiree

Do you have questions about the real estate market, interested in having a no-commitment home valuation, or would like to view some Colorado mountain homes; feel free to reach out. I'm always happy to help!

Step 3: Find the Perfect Home and Make an Offer

Now comes the fun part, HOME SHOPPING! Together we will determine your top 3 Must Have's in your new home. Then I will schedule home showings that are within your price range. I pay close attention to what you like or dislike in the homes, help you invision the space as how you want it to be living there and even your body language and how you react to homes when you visit them. It's also important to make sure to take time to explore the neighborhood and keep an eye on traffic at certain times of the day, the parking situation, and how close it is to necessities like schools and grocery stores.

Once you have found what is your perfect home it will be time to collaborate with your agent to write competetive, but fair offer based on other compareable properties in the current market. Depending on what the home is listed at, the conditions of the cu rrent market, and inventory available, your offer may be below, at, or even above the asking price. If you receive a counteroffer from the seller, I can help you negotiate to reach an agreement and get you under contract.

STEP 4: Have a Home Inspection and Select Your Home Loan

Once your offer is accepted, as the buyer, you have the opportunity to hire a professional inspector to evaluate the condition of the home. An inspection contingency is typically included in the written contract given to the seller. The goal of a home inspection is to give you an objective, independent and com- prehensive analysis of the physical condition of your potential new home and check for any safety issues that might otherwise be unknowable. I can typically help arrange an inspection within days of your offer being accepted.

Once you receive the inspection report and both parties come to agreement to resolve any concerns, its time to go back to your lender to determine the exact home loan you are comfortable with and lock in your rate.

Step 5: Have a Home Appraisal and Finalize Paperwork

An appraisal is an estimate of the value of a property made by a qualified professional. The appraisal of the home is as important because the property you are purchasing serves as the collateral for the loan. Although the primary goal the appraisal is to justify the lender's investment, it also protects you from overpaying. Your lender will generally hire the appraiser and will charge you as the buyer a fee for the service. If the appraisal falls short of the amount you wish to borrow you may be refused a mortgage or offered a smaller amount on the mortgage. Your offer contract will be contingent on whether the appraisal comes in at or above the purchase price you and the seller have agreed upon.

Once all of the purchasing steps and contingencies are cleared, it's time for closing! Understanding the steps and terminology can be a bit overwhelming, but fortunately the title company, your lender and myself will make sure all the proper steps are taken so that when you are finished signing all the paperwork you know your new home is protected.

CONGRATULATIONS!!!

After signing the final paperwork to complete the purchase, you are now the owner of a new house. It may take a few days for your loan to be funded once the paperwork has been returned to the lender, but once that check is delivered to the seller, you'll be all set to move into the home of your dreams.