Are you purchasing a home in Covina? All Seasons Real Estate, Inc can help.
Purchasing a home is intimidating for most people, but it's not too difficult with some up-front planning.
I like to give buyers an outline of the entire deal so they know exactly what to expect.
These are my nine steps to purchasing a home.
If you have questions regarding this information or if you're ready to get started, just contact me here or e-mail me at .
Step 1 – Get ready to purchase
Before you start searching for a home, there are several things you should take into account.
When you begin your search, you'll probably want to create a check list of features you want, plan for what school districts and neighborhoods you'd like to live in, and start planning your budget.
Ensuring your mortgage payment is no more than a third of your net monthly income is a good principle to follow.
Step 2 – Get in touch with a real estate agent
This is where I come in.
I'd like to plan a time to meet with you and speak with you regarding your real estate needs and get an idea of your upcoming plans.
We'll discuss neighborhoods, school districts in the Covina area, the mortgage industry, and any other economic factors that could affect your buying decision today or in the future.
I can also help you start the loan process.
All Seasons Real Estate, Inc works with some of the best mortgage professionals in Covina, so you'll be in great hands.
They'll assist you in deciding which type of loan is best for you and help you get qualified.
Step 3 – Start looking
After our first meeting, I'll start looking for houses on the market that are great for you.
I'll get a sneak peek of many of the homes and exclude the duds, and then we'll book appointments to view the houses when it's most convenient for you.
As we tour homes, I'll call attention to good features and negative ones. And I'll ask you to tell us about things you like and don't like.
It's common for buyers to change their list of must-haves as we tour homes and some features become more substantial than others.
If that's the case, I'll look through the listings one more time and narrow it down to the home you've been waiting for.
Step 4 – Get a grasp of the market
My knowledge of the Covina home market is a leading element in your home search. I am familiar with all the neighborhoods and school districts, and I will alert you to certain neighborhoods are "hot" and demand immediate action and some that are "cool" and allow for careful consideration.
When we view houses, I'll make sure to communicate when the list price has room for negotiation and also when I think the house is "priced to sell."
When working with an agent, be careful and be sure to ask plenty of questions. Any real estate agent will tell you they truly know the housing market.
If things don't add up, just call 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 ahead throughout the entire process.
Step 5 – Find your dream house
I know we'll find your dream home in the Covina area. When that happens, I'll thoroughly create your purchase offer. The offer will be tailored keeping your needs in mind and the home, including some contingencies. A few examples are obtaining financing, carrying out the inspection, and a clean title.
Upon sending in your offer, most likely you'll need to present "earnest money." This is a cash deposit submitted to a home seller to secure an offer to purchase the property and 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 necessary time for your mortgage financing.
Step 6 – Negotiate the deal
Unfortunately most deals aren't closed on the first offer. It's very common to receive a counter offer. Don't let this intimidate you. We'll consider whether or not to accept the counter offer, submit our own counter offer, or decline the seller's offer and move on.
Market circumstances will play a big part in how aggressively we negotiate the deal.
We'll also work within your financing limits. And at the end of the day, we'll compose a contract that's best for you.
Step 7 – Get your loan
After the deal is finished, you'll start working with your mortgage lender to close the loan.
This won't take very long at all if you're already pre-qualified, but you should to stay 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
You'll get a Loan Estimate (LE) of closing costs from your lender within three days of taking your loan application.
This estimate is based on the loan amount. RESPA requirements mandate that it has to contain all closing costs and be within a strict range of accuracy, and I'll analyze the estimate and let you know if everything looks adequate.
Then we'll close on your home. This should happen at a title company or escrow office and will likely be a smooth and calm affair.
Step 9 – Move in
Congratulations! Now you can move into your new home. Enjoy it. And if you need anything or have any questions, just call me at (626) 339-0697 or e-mail me at .