Are you looking to buy your new home in Covina? All Seasons Real Estate, Inc can help.
Purchasing a home is stressful for a lot of people, but with a bit of planning ahead of time, it's not all that complicated.
So they'll understand exactly what to expect, I'll provide buyers with an outline of the entire deal.
Here are my nine steps to purchasing a home.
When you're ready to get started, simply contact me here or e-mail me at . I'm happy to answer questions you have regarding this information.
Step 1 – Prepare to purchase
Before you begin your home search, there are several things you need to consider.
When you start your search, you'll probably want to form a checklist of features you need, get a feeling for what school districts you'd like to live in, and begin planning around your budget.
Ensuring your mortgage payment is less than a third of your net monthly income is a good principle to adhere to.
Step 2 – Contact a real estate agent in Covina
This is where I can help.
We can plan a time to meet so we can talk about your real estate needs and get an idea of your future plans.
We'll talk about everything from neighborhoods, school districts in the Covina area, the mortgage industry, to any other economic factors that could potentially affect your purchase today or in the future.
In addition, I'll help you begin the loan process.
There are some excellent mortgage professionals in Covina, and I partner with a lot of them, so you're in great hands.
They will assist you in figuring out which kind of loan is best for you and help you get qualified.
Step 3 – Begin your home search
After our first meeting, I'll start finding available houses on the market that meet your needs.
I'll get a sneak peek of many of the homes and eliminate the bad ones, and then we'll schedule appointments to tour the houses whenever it's most convenient for you.
As we view the homes, I'll point out good features, as well as negative ones. I'll even ask you to point out what things you like and don't like.
It's widely common for buyers to amend their list of must-haves as we tour houses and some features become more essential than others.
If such is the case, I'll search all the listings once more and trim it down to the house you've been waiting for.
Step 4 – Comprehend the housing market
Your agent's knowledge of the Covina market is a crucial agent in your home search. And I can assure you I'm informed of all the neighborhoods and school districts, and I will communicate certain areas are "hot" and warrant prompt action and others that are "cold" and allow for thoughtful examination.
As we tour houses, I'll let you know if the asking price has room for negotiation or if I believe the house is "priced to sell."
Any real estate agent will tell you they know the market, but beware, and make sure you ask your agent a lot of questions.
If it appears they don't know everything, just call me at (626) 339-0697 or e-mail me at , and I'd be glad to answer any questions you have. My market knowledge will keep you a step ahead throughout the entire deal.
Step 5 – Find the home you've been waiting for
We'll find your dream house in the Covina area, and when that happens, I'll carefully create your purchase offer. The offer will be tailored to suit your needs and the home, including a lot of contingencies, such as obtaining financing, carrying out the inspection, and a clean title.
Upon presenting your purchase offer, you'll probably need to present "earnest money." This is a cash deposit given to a home seller to secure an offer to buy the property, and it's most often put towards the closing costs. If the offer is accepted by the seller, we should close on the property about 30 to 60 days afterward. This allows enough time for your mortgage financing.
Step 6 – Negotiate
Most deals don't close on the beginning offer. It's pretty common to receive a counter offer. Don't let this alarm you. We'll talk about whether or not to take the counter offer, propose our own counter offer, or refuse the seller's offer and move on.
Market circumstances determine how aggressively we negotiate the contract.
In addition, we'll work within your budget. And at the end of the day, we'll assemble a deal that is best for you.
Step 7 – Obtain financing
Once the deal is finalized, you'll start working with your lender to close the loan.
This won't be a long process at all if you've been pre-qualified, but you'll want to stay in close contact with your mortgage lender.
And I'll sort out 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) of your closing costs from your lender within three days of receiving your application.
The estimate is formed from the loan amount, and RESPA requirements dictate that it has to include all closing costs and fall within a narrow range of accuracy. I'll study the estimate and let you know if everything looks good.
Then it's time to close on your home. This will probably occur at a title company or escrow office and will most likely be a smooth and relaxed affair.
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, just call me at (626) 339-0697 or e-mail me at .