Buying a home in Covina with All Seasons Real Estate, Inc
With some planning ahead of time, buying a home isn't all that difficult, but the event can be stressful for a lot of people.
I like to give buyers an overview of the whole deal so they know exactly what they can expect.
Below are my nine steps to buying a home.
If you have any questions about any of this information or if you're prepared to get started, simply contact me here or e-mail me at .
Step 1 – Get ready to buy a home
Before you begin searching for a home, there are plenty of things you'll want to do.
You'll want to create an outline of must-have features, plan for what school districts you want to live in, and begin planning your budget.
Keeping your mortgage payment less than or close to 1/3 of your net monthly income is a good rule of thumb to go by.
Step 2 – Get in touch with a real estate agent in Covina
That's where I can help.
I'd love to plan a time to meet with you and speak with you about your real estate needs and get an idea of your plans for the future.
We'll talk about the mortgage and housing industries, other economic factors that may potentially affect your buying decision today or in the future, as well as neighborhoods and school districts in the Covina area.
I can also assist you in getting started on your loan.
I work with some of Covina's finest mortgage professionals, so you can rest assured that you're in great hands.
They can help you choose which kind of loan is best for you, as well as help you get approved.
Step 3 – Start house hunting
Following our first meeting, I'll begin looking for available homes on the market that are good for you.
I'll preview most of the houses and throw out the duds, and then we'll book appointments to view the homes at a time that's convenient for you.
When we tour houses, I'll point out good features and bad ones. I'll even ask you to point out what things you like and dislike.
Most often, buyers revise their wish list as we tour homes and some items become more necessary than others.
If that's the case, I'll go back through all the listings one more time and narrow it down to the home you've been waiting for.
Step 4 – Understand the market
My knowledge of the Covina market is an imperative component in your home search. I'm acquainted with all the neighborhoods and schools, and I will let you know which neighborhoods are "hot" and warrant immediate action and others that are "cool" and allow for thoughtful analysis.
When we tour houses, I'll make sure to communicate if the asking price has room for negotiation or if I believe the house is "priced to sell."
When working with an agent, be mindful and be sure to ask plenty of questions, as every REALTOR in Covina will convince you they understand the home market.
If it doesn't seem like they know everything, call me at (626) 339-0697 or e-mail me at , and I'll be glad to answer your questions. My market knowledge will help you stay a step above the rest through the entire deal.
Step 5 – Find the home of your dreams
We'll find the home of your dreams in Covina, and when that happens, I'll carefully create your purchase offer. The offer will be tailored exactly to your needs and the home, including many contingencies, such as acquiring financing, completing the home inspection, and a clean title.
When we present your offer, most likely you'll want to submit "earnest money." This is a cash deposit submitted to a seller to secure the offer to buy the property. The amount is most often put towards the closing costs. If your offer is accepted, we should close on the property within 30 to 60 days after. This allows enough time for your mortgage financing.
Step 6 – Negotiate the deal
A lot of deals aren't closed on the first offer, and it's very common to receive a counter offer. Don't let this discourage you. We'll talk over whether or not to accept the counter offer, propose our own counter offer, or refuse the seller's offer and move on.
Market circumstances will play a vital role in how aggressively we negotiate the contract.
We'll also work within your financing budget. And when it's all said and done, we'll compose a deal that's best for you.
Step 7 – Get a loan
Upon completing the contract, you'll begin working with your lender to close the loan.
If you've been pre-qualified, this shouldn't take much time at all. But you should to keep in close contact with your mortgage lender.
And I'll manage all the property information your mortgage lender will need to close the loan.
Step 8 – Close the deal
Your lender will furnish you with a Loan Estimate (LE) outlining closing costs within three days of taking your application. You'll get a Loan Estimate (LE) of closing costs from your mortgage lender within three days of getting your application.
This estimate depends on the loan amount. RESPA requirements require that it has to involve all closing costs and fall within a strict range of accuracy, and I'll go over the estimate and let you know if it all looks adequate.
Then it's time to close on your house. This should happen at a title company or escrow office and will likely be a smooth and hassle-free occurrence.
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 .