Buying or selling a home in Covina?
Buying a home is stressful for most people, but with a little planning ahead of time, it isn't too confusing.
I like to furnish buyers with an overview of the whole deal so they'll know exactly what they can expect.
Here are my nine steps to purchasing a home.
When you're ready to get started, you can contact me here or e-mail me at . I'm happy to address any questions you have regarding this information.
Step 1 – Prepare to purchase
Before you start looking for a home, there are several things you'll want to take into account.
When you begin your search, you'll want to put together an outline of must-haves, get a feeling for what school districts you'd like to live in, and start working on your budget.
Keeping your mortgage payment around 30 percent of your monthly income is a good rule to adhere to.
Step 2 – Talk to a real estate agent in Covina
This is where All Seasons Real Estate, Inc can help.
I'd be happy to arrange a time to get together with you and speak with you regarding your real estate needs and get an idea of your future plans.
We'll discuss everything from neighborhoods, school districts in the Covina area, the mortgage and housing industries, to any other economic factors that may potentially affect your buying decision today or in the future.
I can also assist you with getting started on your loan.
All Seasons Real Estate, Inc works with some of Covina's finest mortgage professionals, so you can rest assured that you're in great hands.
They'll help you choose which kind of loan is best for you, as well as help you get approved.
Step 3 – Begin your home search
After our initial meeting, I'll begin finding available houses on the market that are great for you.
I'll research most of the homes and reject the duds, and then we'll book appointments to view the homes when it's most convenient for you.
When we tour the homes, I'll identify good features, as well as negative ones. I'll also ask you about things you like and don't like.
Generally, buyers update their must-have list as we tour houses and some features become more substantial than others.
If that happens, I'll search all the listings once again and narrow it down to the home you've been waiting for.
Step 4 – Understand the housing market
Your agent's understanding of the Covina housing market is a fundamental component in your home search. And I can assure you I'm mindful of all the school districts and neighborhoods, and I will alert you to some districts are "hot" and require prompt action and the ones that are "cold" and allow for more consideration.
As we view houses, I'll let you know when the seller's asking price has room for negotiation and also when I believe the house is "priced to sell."
Be careful and make sure you ask lots of questions, as any real estate agent in Covina will claim to comprehend the market.
If it appears they don't know everything, contact me at (626) 339-0697 or e-mail me at , and I'll be glad to answer your questions. My market expertise will keep you a step above the rest through the entire process.
Step 5 – Find your dream house
We'll find your dream house in the Covina area, and when that happens, I'll carefully develop your home purchase offer. The offer will be tailored exactly to your needs and the home, including some contingencies, such as acquiring financing, completing the inspection, and a clean title.
Upon submitting your purchase offer, you'll need to present "earnest money." This is a cash deposit given to the home seller to secure the offer to purchase the property. The amount is usually applied to the cost of closing. If your offer is accepted by the seller, we should close on the property about 30 to 60 days afterward. This allows plenty of time for your mortgage financing.
Step 6 – Negotiate
Most deals don't close on the first offer, and it's widely common to receive a counter offer. But don't let it alarm you. We'll talk over whether or not to consent to the counter offer, propose our own counter offer, or decline the seller's offer and go on.
Market circumstances determine how aggressively we negotiate the contract.
We'll also work within your financing constraints. And at the end of the day, we'll put together a contract that's best for you.
Step 7 – Obtain financing
Upon finishing the contract, 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 need to stay in close contact with your lender.
And I'll deal with all the property information your lender needs to close the loan.
Step 8 – Close the deal
You'll get a Loan Estimate (LE) outlining your closing costs from your lender within three days of receiving your loan application.
This estimate is formed from the loan amount. RESPA requirements order that it has to involve all closing costs and fall within a strict range of accuracy, and I'll examine the estimate and let you know if it all looks permissible.
Then we'll close on your house. This will most often take place at a title company or escrow office and is often a smooth and easygoing event.
Step 9 – Move in
Congratulations! Now you can move into your new home. Enjoy it. And if you need anything, make sure you contact me at (626) 339-0697 or e-mail me at .