Are you purchasing your home in Covina?
Buying a home is intimidating for a lot of people, but it isn't very hard with some up-front planning.
So they'll understand exactly what they can expect, I'll supply buyers with an overview of the entire deal.
These 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 questions you have about this information.
Step 1 – Get ready to purchase a home
There are several things you'll want to do before beginning your home search.
When you start your search, you'll want to form an index of features you need, get a feeling for what neighborhoods you'd like to live in, and begin planning around your budget.
Keeping your mortgage payment less than or close to 30 percent of your net monthly income is a good rule of thumb to adhere to.
Step 2 – Talk to a real estate agent
This is where All Seasons Real Estate, Inc can help.
We can book a time to get together so we can talk about your real estate needs and get an idea of your plans for the future.
We'll discuss the mortgage industry, other economic factors that may potentially affect your buying decision today or in the future, as well as neighborhoods and schools in the Covina area.
I can also help you begin the loan process.
I partner with some of Covina's finest mortgage professionals, so you're in great hands.
They can help you decide which type of loan is best for you, as well as help you get approved.
Step 3 – Start house hunting
After our initial meeting, I'll start searching for houses on the market that are great for you.
I'll research most of the houses and remove the duds, and then we'll book appointments to view the houses at a time that's convenient for you.
When we view houses, I'll call attention to positive features, as well as negative ones. And I'll ask you about things you like and don't like.
It's widely common for buyers to revise their list of must-haves as we view homes and some items become far more substantial than others.
If that happens, I'll search the listings once more and narrow it down to the home of your dreams.
Step 4 – Get a grasp of the housing market
My awareness of the Covina market is an imperative component in your house search. I am acquainted with all the neighborhoods and school districts, and I can communicate which areas are "hot" and require prompt action and some that are "cool" and allow for careful examination.
As we view homes, I'll let you know if the list price has room for bargaining or if I believe the house is "priced to sell."
When working with an agent, trust your instincts and be sure to ask plenty of questions. Any real estate agent in Covina will claim to know the home 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 your questions. My market expertise will help you stay a step ahead throughout the entire deal.
Step 5 – Find your dream home
We'll find your dream house in the Covina area, and when that happens, I'll precisely create your purchase offer. The offer will be tailored keeping your needs in mind and the home, including some contingencies, such as acquiring financing, carrying out the inspection, and a clean title.
When we send in your offer, you'll likely need to submit "earnest money." This is a cash deposit submitted to the seller to secure an offer to buy the property and is typically applied to the closing costs. If your offer is accepted, we should close on the home about 30 to 60 days afterward. This allows sufficient time for your mortgage financing.
Step 6 – Negotiate
Most deals don't close on the first offer – it's really common to receive a counter offer. Don't let it intimidate you. We'll talk about whether or not to consent to the counter offer, propose our own counter offer, or decline the seller's offer and go on.
The state of the market will play a part in how aggressively we negotiate the contract.
In addition, we'll work within your financing limits. And when it's all said and done, we'll put together a contract that's best for you.
Step 7 – Secure a loan
Once we sign the final sales contract, you'll start working with your lender to close the loan.
This shouldn't take very long at all if you're pre-qualified, but you should 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) outlining closing costs from your lender within three days of taking your application.
This estimate depends on the loan amount. RESPA requirements dictate that it has to involve all closing costs and be within a close range of accuracy, and I'll analyze the estimate and let you know if it all looks all right.
Then it's time to close on your house. This will most likely occur at a title company or escrow office and will most often be a smooth and easygoing occurrence.
Step 9 – Move in
Congratulations! It's time to move into your new home. Enjoy it. And if you need anything or have any questions, be sure to contact me at (626) 339-0697 or e-mail me at .