Are you buying a home in Covina?
With a little up-front planning, buying a home isn't all that complicated, but the event can be stressful for many people.
I like to give buyers an overview of the whole deal so they understand exactly what they can expect.
Below are my nine steps to purchasing 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 about this information.
Step 1 – Get ready to purchase a home
There are several things you need to do before you start looking for a home.
You'll most likely want to assemble a check list of features you need to have, plan for what school districts and neighborhoods you want to live in, and start working on your budget.
Ensuring your mortgage payment is less than a third of your net monthly income is a good principle to follow.
Step 2 – Get in touch with a real estate agent in Covina
That's where I come in.
I'd love to plan a time to meet with you and speak with you regarding your real estate needs and get an idea of your plans for the future.
We'll discuss the mortgage and housing industries, other economic factors that might affect your buying decision today or in the future, as well as neighborhoods and school districts in the Covina area.
In addition, I'll help you get started on your loan.
All Seasons Real Estate, Inc works with some of Covina's best mortgage professionals, so you'll be in great hands.
They will help you choose which kind of loan is best for you, as well as help you get approved.
Step 3 – Start house-hunting
After we meet for the first time, I'll begin looking for homes on the market that meet your needs.
I'll research most of the homes and remove the bad ones, and then we'll book appointments to view the houses at a time that's convenient for you.
As we view homes, I'll point out positive features, as well as bad ones. I'll even ask you to tell us about things you like and don't like.
Usually, buyers update their wish list as we tour homes and some features become more substantial than others.
If that happens, I'll look through all the listings another time and narrow it down to the home you've been waiting for.
Step 4 – Get a grasp of the housing market
My knowledge of the Covina home market is a necessary component in your house search. I am familiar with all the school districts and neighborhoods, and I will alert you to some neighborhoods are "hot" and call for immediate action and others that are "cold" and allow for more analysis.
When we view houses, I'll let you know if the seller's list price has room for bargaining or if I believe the home is "priced to sell."
When working with an agent, trust your instincts and make sure you ask a lot of questions. Every real estate agent in Covina will claim to comprehend the market.
If it appears they don't know everything, call me at (626) 339-0697 or e-mail me at , and I'd be happy to answer any questions you may have. My market knowledge will keep you a step ahead through the entire process.
Step 5 – Find your dream house
We'll find the home of your dreams in the Covina area, and when that happens, I'll thoroughly develop your real estate purchase offer. The offer will be tailored to suit your needs and the home, including some contingencies. A few examples are acquiring financing, completing the inspection, and a clean title.
When submitting your offer, you'll want to submit "earnest money." This is a cash deposit made to the seller to secure an offer to purchase the property and is often put towards the cost of closing. If the 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 aren't closed on the initial offer – it's widely common to receive a counter offer. But don't let this intimidate you. We'll talk over whether or not to take the counter offer, present our own counter offer, or refuse the seller's offer and move on.
Market circumstances will play a large 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 contract that's best for you.
Step 7 – Get your loan
After the contract is complete, you'll begin working with your mortgage lender to close the loan.
If you're pre-qualified, it won't take much time at all. However, you'll need to keep in close contact with your lender.
And I'll take care of all the property information your mortgage lender needs to close the loan.
Step 8 – Close the deal
You'll get a Loan Estimate (LE) detailing closing costs from your mortgage lender within three days of getting your application.
The estimate rests on the loan amount. RESPA requirements order that it has to involve all closing costs and be within a strict range of accuracy, and I'll study the estimate and let you know if everything looks permissible.
Then it's time to close on your home. This will most likely take place at a title company or escrow office and will probably be a smooth and stress-free event.
Step 9 – Move in
Congratulations! It's time to move into your new house. Enjoy it. And if you need anything, be sure to call me at (626) 339-0697 or e-mail me at .