Are you purchasing your new home in Covina? All Seasons Real Estate, Inc can help.
For a lot of people, buying a home can be an intimidating event. However, with some up-front planning, it isn't all that complicated.
So they'll understand exactly what they can expect, I will furnish buyers with an outline of the entire deal.
Here 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 address any questions you have regarding this information.
Step 1 – Prepare to buy
There are a lot of things you need to do before you look for a home.
When you begin your search, you'll want to form a check list of items you want, get an idea of what neighborhoods and school districts you want to live in, and start working on your budget.
A good principle to follow is that your mortgage payment should be close to 1/3 of your monthly income.
Step 2 – Speak with a real estate agent in Covina
That's where I come in.
We'll arrange a time to get together so we can talk about why you want to buy a home and get an idea of your upcoming plans.
We'll discuss everything from neighborhoods, school districts in the Covina area, the mortgage industry, to any other economic factors that may affect your purchase today or in the future.
I'll also help you facilitate the loan process.
There are some excellent mortgage professionals in Covina, and I work with a lot of them, so you're in great hands.
They can help you figure out which type of loan is best for you, as well as help you get approved.
Step 3 – Begin house-hunting
After our initial meeting, I'll begin finding available houses on the market that are a great fit for you.
I'll preview many of the homes and eliminate the duds, and then we'll book appointments to tour the homes when it's convenient for you.
When we view homes, I'll call attention to positive features and bad ones. I'll even ask you what things you like and dislike.
As a rule, buyers amend their list of must-haves as we view homes and some things become far more necessary than others.
If such is the case, I'll go back through all the listings another time and narrow it down to the house you've been dreaming about.
Step 4 – Understand the market
An agent's understanding of the Covina housing market is a fundamental element in your house search. And I assure you I'm familiar with all the school districts and neighborhoods, and I can let you know what areas are "hot" and require prompt action and others that are "cool" and allow for more analysis.
When we tour houses, I'll make sure to communicate if the asking price has room for bargaining or if I believe the home is "priced to sell."
When working with an agent, trust your instincts and be sure to ask a lot of questions. Every REALTOR in Covina will claim to comprehend the home market.
If it appears they don't know everything, just call me at (626) 339-0697 or e-mail me at , and I'd be more than happy to answer any questions you have. My market knowledge will help you stay a step above the rest throughout the entire deal.
Step 5 – Find the house of your dreams
I'm sure we'll find the home of your dreams in the Covina area. When we do, I'll precisely develop your real estate purchase offer. The offer will be tailored to suit your needs and the home, including many contingencies. A few examples are getting financing, finishing the home inspection, and a clean title.
When turning in your purchase offer, you'll want to present "earnest money." This is a cash deposit given to the seller to secure an offer to buy the property. The amount is typically applied to the closing costs. If your offer is accepted by the seller, we should close on the home about 30 to 60 days after. This allows sufficient time for your mortgage financing.
Step 6 – Negotiate
Unfortunately most deals don't close on the first offer – it's really common to receive a counter offer. But don't let it alarm you. We'll figure out whether or not to take the counter offer, present our own counter offer, or refuse the seller's offer and move on.
Market conditions determine how aggressively we negotiate the contract.
In addition, we'll work within your financing constraints. And at the end of the day, we'll put together a contract that is best for you.
Step 7 – Get a loan
Once we sign the final deal, you'll start working with your lender to close the loan.
It won't take much time at all if you're already pre-approved, but you'll want to stay in close contact with your mortgage lender.
And I'll take care of all the property information your mortgage lender will need to close the loan.
Step 8 – Close the deal
You'll get a Loan Estimate (LE) of your closing costs from your mortgage lender within three days of receiving your application.
The estimate is based on the loan amount, and RESPA requirements mandate that it has to involve all closing costs and fall within a precise range of accuracy. I'll go over the estimate and let you know if it all looks adequate.
Then it's time to close on your home. This will probably take place at a title company or escrow office and is often a smooth and relaxed occasion.
Step 9 – Move in
Congratulations! It's time to move into your new home. Enjoy it. And if you need anything, just contact me at (626) 339-0697 or e-mail me at .