Buying or selling a home? Coldwell Banker Residential Brokerage can help.

Purchasing a home can be stressful for most people. However, with a bit of planning ahead of time, it's not all that complex. I like to supply buyers with an overview of the entire deal so they know exactly what to expect. Below are my nine steps to purchasing a home.

Step 1 – Get ready to buy a home
There are a lot of things you should consider before you start looking for a home. You'll probably want to form a check list of items you want to have, get an idea of what neighborhoods and school districts you want to live in, and start working on your budget. A good guideline to follow is that your mortgage payment should be close to 30 percent of your net monthly income.

Step 2 – Speak with a real estate agent
This is where I come in. I can schedule a time to get together so we can talk about your real estate needs and get an idea of your upcoming plans. We'll discuss the mortgage industry, other economic factors that may potentially affect your purchase today or in the future, as well as neighborhoods and schools in the SUFFIELD area.

I'll also help you begin the loan process. Coldwell Banker Residential Brokerage partners with some of SUFFIELD's finest mortgage professionals, so you'll be in great hands. They will help you determine which kind of loan is best for you, as well as help you get qualified.

Step 3 – Start looking for a house
After our first meeting, I'll start finding available houses on the market that best suit you. I'll get a sneak peek of many of the homes and eliminate the bad ones, and then we'll book appointments to tour the houses when it's convenient for you.

As we view the homes, I'll point out positive features and bad ones. I'll also ask you about things you like and dislike. As a rule, buyers revise their list of must-haves as we view homes and some features become more crucial than others. If that's the situation, I'll go back through the listings another time and trim it down to the house you've been wishing for.

Step 4 – Know the market
My awareness of the SUFFIELD housing market is an essential advantage in your search. I'm mindful of all the school districts and neighborhoods, and I can alert you to what areas are "hot" and demand immediate action and the ones that are "cold" and allow for careful consideration.

As we view houses, I'll be sure to tell you when the seller's asking price has room for negotiation and also when I think the home is "priced to sell." Any real estate agent will tell you they comprehend the home market, but trust your instincts, and make sure you ask a lot of questions. If things don't add up, call me at (860) 668-3100 or e-mail me at angela.jenkins@alamode.com, and I'll be more than happy to answer any questions you might have. My market knowledge will help you stay a step above the rest through the entire deal.

Step 5 – Find the house of your dreams
I'm certain we'll find your dream house in the SUFFIELD area. When that happens, I'll meticulously create your purchase offer. The offer will be tailored exactly to your needs, including a lot of contingencies. A few examples are getting financing, carrying out the home inspection, and a clear title.

Upon sending in your offer, most likely you'll want to present "earnest money." This is a cash deposit given to the seller to secure the offer to purchase the property. The amount is typically applied to the cost of closing. If the seller accepts the offer, we should close on the home within 30 to 60 days after. This allows necessary time for your mortgage financing.

Step 6 – Negotiate
Most deals don't close on the first offer. It's pretty common to receive a counter offer. But don't let this intimidate you. We'll figure out whether or not to agree to the counter offer, submit our own counter offer, or reject the seller's offer and move on.

The state of the market will play a big part in how aggressively we negotiate the contract. In addition, we'll work within your budget. And when it's all said and done, we'll assemble a contract that is best for you.

Step 7 – Obtain your loan
After we sign the final deal, you'll begin working with your lender to close the loan. It shouldn't take very long at all if you're already pre-qualified, but you need to keep in close contact with your mortgage lender. And I'll deal with all the property information your lender will need to close the loan.>

Step 8 – Close the deal
You'll get a Good Faith Estimate (GFE) outlining your closing costs from your lender within three days of getting your loan application. This estimate is formed from the loan amount, and RESPA requirements dictate that it has to involve all closing costs and be within a narrow range of accuracy. I'll review the estimate and let you know if it all looks okay.

Then it's time to close on your house. This will likely happen at a title company or escrow office and will likely be a smooth and easygoing event.

Step 9 – Move in
Congratulations! It's time to move into your new house. Enjoy it. And if you have any questions, be sure to contact me at (860) 668-3100 or send me an e-mail.