Navigating Home Buying: From Under Contract to Closing

NAVIGATING YOUR HOME BUYING JOURNEY: A STEP-BY-STEP GUIDE

Woohoo! Your strong offer has been negotiated and you are now under contract. As exciting as this milestone is, it's only part of the intricate process of buying a home in Metro Denver. For those of you looking to purchase properties that epitomize comfort, beauty, and convenience, understanding each step can make the journey much smoother.

THE IMPORTANCE OF DISCLOSURES

Before you rush out to buy new furniture and curtains, let’s look into the first critical step after getting under contract: Property Disclosures. These disclosures include details about:

 * Water sources

 * Square footage

 * Maintenance and upgrades

Disclosures cover the details you want and need to know before you complete the sale.

HOME INSPECTION: YOUR BEST FRIEND

Next up is the Home Inspection. With me, Carla Realtor from Coldwell Bank of Realty, by your side, you'll have a qualified home inspection professional come in to assess the property condition.

We can negotiate with the seller for any repairs or even request a concession or credit at closing to fix these items yourself. If the work needed is more than you’re willing to undertake and the seller isn't open to doing the repairs, this might be the time to discuss termination.

Learn more about inspections with the video on my website blog called, Understanding The Home Inspection Process.

MORTGAGE AND TITLE: GETTING THE FINANCES RIGHT

Once you’ve decided to stay with the home post-inspection, you’ll be working closely with your mortgage company to get your file into underwriting. At the same time, I'll coordinate with the title company.

UNDERSTANDING TITLE INSURANCE

Title insurance ensures the chain of ownership and protects you against any claims or legalities from previous owners of your new home. Stay tuned for an informative video featuring my first guest to discuss the importance of title insurance.

APPRAISAL: VERIFYING THE VALUE

An appraisal comes next, determining the property's value to ensure it aligns with the agreed purchase price. This valuation is crucial since it influences the amount you can borrow and acts as collateral for your loan. If discrepancies arise, we have options to negotiate or terminate the deal. The appraised value is the amount that you can borrow against the loan.

THE FINAL STRETCH: INSURANCE AND LENDER DISCLOSURES

We’re on the home stretch after the appraisal report is in. Additional considerations include homeowners insurance policies and your lender’s due diligence disclosures. I can provide you with referrals to get the most homeowner insurance coverage at the best price.

THE BEST PART: THE FINAL WALK-THROUGH

Finally, your lender will send disclosure documents three days before closing. Once you agree to the loan terms and costs, the best part awaits: the Final Walk-Through. This last step allows us to verify all agreed-upon repairs are completed and the condition of your new home. The final walk-through...make sure that the home is as you viewed it during the showing & inspection..

CELEBRATE YOUR NEW HOME!

After all the signatures and document signing, you finally get your keys. Time to celebrate. So, how will you celebrate this monumental occasion?

For questions about the real estate market in Metro Denver, whether it’s rental, purchasing, or selling, reach out. I'm happy to see what we can do together. 

Get in the game, the homeownership game. Give me a call to find out about down payment assistance going on right now: 702-626-9747

Navigating the home-buying process in Metro Denver brings both excitement and complexities. With a keen understanding and Carla’s guidance, you can ensure a seamless journey into home ownership. For additional insights and resources, visit my website or contact me directly.