During an initial interview you have the opportunity to share your expectations and learn about the process of buying a home with a Look East Realty professional. Based on your wants, needs, priorities for price, size, style and area, your agent will begin searching for your new home.
In today’s volatile loan market it can take some time to secure a home loan. Included in the booklet is a list of the items typically requested by lenders to begin the loan process. It is far easier to put these items together and begin the pre-approval process now than to wait until you find the perfect home. Your agent can help you get this process started.
- Market Absorption Analysis
This is a written report of the transactions in the neighborhood to identify similar properties that have sold recently and are currently on the market in an effort to determine a realistic price for the subject property. This report helps you decide on a price to offer for a property. Understanding local pricing trends will give you an idea what has happened in the past and what may happen in the future.
- Formulating an Offer
Your Look East Realty professional will guide you through this process, what you should expect, the time frame involved and will write up the offer on approved Colorado Division of Real Estate Forms.
The last step is to assemble all of the loan papers at the closing. You will need to pay the balance of your down payment and your closing costs at this time. Usually, a cashier’s check is required for these funds.