With a little planning ahead of time, buying a home isn't very difficult, but the event intimidates a lot of people. I like to furnish buyers with an overview of the whole deal so they understand exactly what to expect. These are my nine steps to buying a home.
||If you have any questions about any of this information or if you're prepared to get started, you can contact me at (909) 292-8259 or e-mail me at email@example.com.
Step 1 – Get ready to buy a home
There are several things you'll want to do before commencing your home search. When you start your search, you'll probably want to make a list of items you need, get a feeling for what neighborhoods you want to live in, and start working on your budget. Keeping your mortgage payment less than 30 percent of your net monthly income is a good guideline to go by.
Step 2 – Speak with a real estate agent
This is where I come in. I'd be more than happy to arrange a time to meet with you and talk about why you want to buy a home and get an idea of your future plans. We'll talk about everything from neighborhoods, schools and thier ranking, the mortgage and housing industries, and any other economic factors that may affect your purchase today or in the future.
I can also help you begin the loan process. There are some excellent mortgage professionals, and I partner with several that have over 15+ years of experience who keep informed about the latest loan programs available, so you're be in great hands. They can help you determine which type of loan is best for you, as well as help you get qualified.
Step 3 – Begin house-hunting
After our initial meeting, I'll begin finding available homes on the market that meet your needs. I'll preview many of the houses and throw out the duds, and then we'll set up appointments to tour the houses when it's convenient for you.
As we view the houses, I'll point out positive features and bad ones. And I'll ask you what things you like and dislike. It's pretty common for buyers to revise their wish list as we tour homes and some items become more substantial than others. If such is the case, I'll go back through the listings once again and narrow it down to the home of your dreams.
Step 4 – Get a grasp of the housing market
Your agent's knowledge of the housing market is a fundamental element in your house search. And I can assure you I'm mindful of all the schools and neighborhoods, and I can alert you to which areas are "hot" and warrant prompt action and the ones that are "cold" and allow for more examination.
When we view houses, I'll make sure to communicate when the asking price has room for negotiation and also when I think the house is "priced to sell."
When working with an agent, be careful and make sure you ask a lot of questions, as every real estate agent will tell you they understand the market, but few do or are as knowledgeable of the entire Southern California market as I am. If it doesn't seem like they know everything, contact me at (909) 292-8259 or e-mail me at firstname.lastname@example.org, and I'd be more than happy to answer any questions you might have. My understanding of the market will keep you a step ahead throughout the entire deal.
Step 5 – Find the home you've been looking for
I'm confident we'll find your ideal home in the area you desire as I have been in business for over 26 years and have experience and worked in a larger area of cities and communities than most agents! When we find that ideal home, I'll meticulously develop your purchase offer. The offer will be tailored with your needs in mind, including a lot of contingencies, such as acquiring financing, finishing the inspection, and a clean title.
When we present your purchase offer, you'll need to submit "earnest money." This is a cash deposit given to a home seller to secure an offer to purchase the property. The amount is most often put towards the closing costs. If the offer is accepted, we should close on the home within 30 to 60 days afterward. This allows plenty of time for your mortgage financing.
Step 6 – Negotiate the deal
Unfortunately most deals aren't closed on the first offer, and it's really common to receive a counter offer. But don't let it discourage you. We'll talk about whether or not to take the counter offer, present our own counter offer, or decline the seller's offer and go on.
Market conditions will play a role in how aggressively we negotiate the deal. In addition, we'll work within your budget. And when it's all said and done, we'll create a deal that works well for you.
Step 7 – Obtain financing
Upon finalizing the deal, you'll begin working with your mortgage lender to close the loan. If you're pre-approved, this shouldn't take much time at all, but you'll need to keep in close contact with your mortgage lender. And I'll look after all the property information your mortgage lender needs to close the loan.
Step 8 – Close the deal
Your lender will give you a Good Faith Estimate (GFE) detailing closing costs within three days of taking your application. You'll get a Good Faith Estimate (GFE) of your closing costs from your mortgage lender within three days of accepting your application. This estimate is based on the loan amount, and RESPA requirements order that it has to include all closing costs and be within a precise range of accuracy. I'll study the estimate and let you know if it all looks all right.
Then it's time to close on your house. This will likely occur at a title company or escrow office and will likely be a smooth and relaxing occasion.
Step 9 – Move in
Success! Now you can move into your new house. Enjoy it. And if you have any questions, be sure to contact me at (909) 292-8259 or send me an e-mail.