Purchasing your new home in Covina
Buying a home can be stressful for many people, but with a little planning ahead of time, it isn't too hard.
So they'll know exactly what they can expect, I will furnish buyers with a road map of the entire deal.
Below are my nine steps to buying a home.
When you're ready to get started, just contact me here or e-mail me at . I'm glad to answer questions you have regarding this information.
Step 1 – Prepare to buy a home
Before you start your home search, there are many things you need to do.
When you start your search, you'll want to put together an outline of items you want, get a plan of what neighborhoods and school districts you'd like to live in, and begin planning your budget.
Keeping your mortgage payment less than a third of your monthly income is a good principle to go by.
Step 2 – Communicate with a real estate agent in Covina
That's where I come in.
I'd like to book a time to get together with you and communicate with you regarding your real estate needs and get an idea of your future plans.
We'll discuss the mortgage and housing industries, other economic factors that may affect your buying decision today or in the future, as well as neighborhoods and school districts in the Covina area.
In addition, I'll assist you in getting started on your loan.
There are some excellent mortgage professionals in Covina, and I partner with a lot of them, so you can rest assured that you're in great hands.
They'll help you choose which type of loan is best for you, as well as help you get qualified.
Step 3 – Start looking
Following our initial meeting, I'll begin looking for homes on the market that meet your needs.
I'll research most of the houses and exclude the bad ones, and then we'll set up appointments to view the homes when it's most convenient for you.
When we tour homes, I'll call attention to positive features and negative ones. I'll even ask you about things you like and dislike.
Oftentimes, buyers update their must-have list as we view houses and some things become far more essential than others.
If that's the case, I'll go back through all the listings one more time and trim it down to the home you've been waiting for.
Step 4 – Get a grasp of the housing market
My awareness of the Covina market is a leading factor in your house search. I'm mindful of all the schools and neighborhoods, and I can communicate what areas are "hot" and warrant immediate action and some that are "cold" and allow for cautiousness.
When we view houses, I'll be sure to tell you when the seller's asking price has room for negotiation and also when I know the home is "priced to sell."
Be mindful and make sure you ask your agent a lot of questions, as every real estate agent in Covina will convince you they comprehend the home market.
If things don't add up, contact me at (626) 339-0697 or e-mail me at , and I'd be happy to answer any questions you have. My market expertise will help you stay a step above the rest through the entire process.
Step 5 – Find the home you've been looking for
We'll find the house of your dreams in Covina, and when that happens, I'll thoroughly create your home purchase offer. The offer will be tailored keeping your needs in mind and the home, including several contingencies, such as obtaining financing, finishing the home inspection, and a clear title.
When submitting your purchase offer, you'll likely need to submit "earnest money." This is a cash deposit made to a seller to secure the offer to purchase the property. The amount is often applied to the closing costs. If your offer is accepted, we should close about 30 to 60 days after. This allows necessary time for your mortgage financing.
Step 6 – Negotiate the deal
Most contracts aren't closed on the beginning offer – it's pretty common to receive a counter offer. Don't let this alarm you. We'll figure out whether or not to accept the counter offer, present our own counter offer, or reject the seller's offer and go on.
Market conditions will play a role in how aggressively we negotiate the deal.
We'll also work within your financing limits. And at the end of the day, we'll assemble a contract that works well for you.
Step 7 – Secure financing
Upon finalizing the contract, you'll begin working with your mortgage lender to close the loan.
If you're already pre-approved, it won't be a long process at all. However, you'll want to stay in close contact with your mortgage lender.
And I'll care for all the property information your mortgage lender needs to close the loan.
Step 8 – Close the deal
Your mortgage lender will provide you with a Loan Estimate (LE) outlining your closing costs within three days of taking your loan application. You'll get a Loan Estimate (LE) outlining your closing costs from your mortgage lender within three days of accepting your loan application.
This estimate rests on the loan amount. RESPA requirements mandate that it has to involve all closing costs and fall within a precise range of accuracy, and I'll review the estimate and let you know if it all looks okay.
Then we'll close on your home. This will most likely take place at a title company or escrow office and is often a smooth and stress-free affair.
Step 9 – Move in
Congratulations! It's time to move into your new home. Enjoy it. And if you need anything, simply call me at (626) 339-0697 or e-mail me at .