Are you purchasing a home in Covina? All Seasons Real Estate, Inc can help.
For a lot of people, buying a home is a stressful event. But with some up-front planning, it's not very confusing.
I like to furnish buyers with a road map of the entire deal so they'll know exactly what to expect.
Here are my nine steps to buying a home.
If you have any 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 buy a home
There are a lot of things you'll want to do prior to starting your home search.
When you begin your search, you'll probably want to put together an index of features you want, get an idea of what neighborhoods and school districts you want to live in, and begin working on your budget.
A good guideline to go by is that your mortgage payment should be less than or around 30 percent of your monthly income.
Step 2 – Connect with a real estate agent in Covina
That's where I can help.
I'd be happy to set up a time to get together with you and speak with you regarding your real estate needs and get an idea of your plans for the future.
We'll talk about neighborhoods, school districts in the Covina area, the mortgage industry, and any additional economic factors that could affect your buying decision today or in the future.
I'll also help you get started on your loan.
There are some very good 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 assist you with choosing which kind of loan is best for you and help you get approved.
Step 3 – Begin house hunting
After we meet, I'll begin finding houses on the market that are a good fit for you.
I'll get a sneak peek of most of the homes and reject the bad ones, and then we'll book appointments to view the homes when it's convenient for you.
When we tour the homes, I'll call attention to good features and negative ones. I'll even ask you about things you like and don't like.
For the most part, buyers change their wish list as we view homes and some features become more necessary than others.
If that's the case, I'll search the listings another time and narrow it down to the home you've been waiting for.
Step 4 – Know the market
My knowledge of the Covina home market is a leading component in your house search. I am familiar with all the neighborhoods and school districts, and I will let you know which districts are "hot" and warrant prompt action and some that are "cold" and allow for thoughtful examination.
When we view houses, I'll be sure to tell you if the seller's asking price has room for bargaining or if I believe the home is "priced to sell."
When working with an agent, be on guard and be sure to ask a lot of questions, as any REALTOR in Covina will tell you they truly know the housing market.
If it appears they don't know everything, just call me at (626) 339-0697 or e-mail me at , and I'll 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 the home you've been looking for
We'll find your dream home in the Covina area, and when we do, I'll carefully develop your real estate purchase offer. The offer will be tailored to suit your needs and the home, including several contingencies, such as getting financing, finishing the home inspection, and a clear title.
Upon presenting your purchase offer, you'll likely need to submit "earnest money." This is a cash deposit given to a home seller to secure an offer to purchase the property, and it's typically applied to the cost of closing. If the offer is accepted, we should close on the home about 30 to 60 days afterward. This allows ample time for your mortgage financing.
Step 6 – Negotiate
A lot of deals don't close on the initial offer, and it's very common to receive a counter offer. Don't let this alarm you. We'll discuss whether or not to consent to the counter offer, submit our own counter offer, or reject the seller's offer and go on.
How aggressively we negotiate the deal depends on market circumstances.
In addition, we'll work within your budget. And when it's all said and done, we'll formulate a contract that is best for you.
Step 7 – Get financing
Upon signing the deal, you'll begin working with your lender to close the loan.
If you're already pre-qualified, this shouldn't be a long process at all. 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) of your closing costs from your lender within three days of getting your application.
The estimate is based on the loan amount, and RESPA requirements mandate that it has to involve all closing costs and be within a close range of accuracy. I'll examine the estimate and let you know if everything looks okay.
Then we'll close on your home. This will likely occur at a title company or escrow office and is often a smooth and hassle-free occurrence.
Step 9 – Move in
Congratulations! Now you can move into your new house. Enjoy it. And if you have any questions, simply call me at (626) 339-0697 or e-mail me at .