Looking to buy your new home in Covina? All Seasons Real Estate, Inc can help.
Buying a home intimidates a lot of people, but it isn't that difficult with a bit of planning ahead of time.
I like to provide buyers with an outline of the whole deal so they know exactly what to expect.
Below are my nine steps to buying a home.
When you're ready to get started, you can contact me here or e-mail me at . I'm happy to answer any questions you have regarding this information.
Step 1 – Prepare to purchase a home
Prior to starting your home search, there are plenty of things you need to contemplate.
It's likely that you'll want to put together a check list of items you want to have, plan for what school districts and neighborhoods you'd like to live in, and start planning around your budget.
A good guideline to adhere to is that your mortgage payment should be less than or close to a third of your net monthly income.
Step 2 – Communicate with a real estate agent
This is where I can help.
We can arrange a time to get together so we can talk about why you want to buy a home and get an idea of your upcoming plans.
We'll discuss everything from neighborhoods, schools in the Covina area, the mortgage industry, to any other economic factors that may potentially affect your purchase today or in the future.
I'll also help you start the loan process.
All Seasons Real Estate, Inc works with some of Covina's finest mortgage professionals, so you can rest assured that you're in great hands.
They'll assist you with deciding which kind of loan is best for you and help you get approved.
Step 3 – Start your home search
After we meet for the first time, I'll begin searching for houses on the market that suit your needs.
I'll get a sneak peek of most of the houses and exclude the bad ones, and then we'll schedule appointments to view the homes at a time that's convenient for you.
When we tour the houses, I'll show you the positive features and bad ones. I'll even ask you what things you like and dislike.
Most often, buyers update their must-have list as we view houses and some items become far more important than others.
If such is the case, I'll look through the listings one more time and trim it down to the house you've been dreaming about.
Step 4 – Comprehend the housing market
Your agent's knowledge of the Covina market is a leading component in your home search. And I can assure you I'm acquainted with all the school districts and neighborhoods, and I will let you know certain districts are "hot" and warrant immediate action and the ones that are "cool" and allow for cautiousness.
When we view homes, I'll let you know when the asking price has room for bargaining and when I believe the house is "priced to sell."
Be mindful and be sure to ask your agent lots of questions, as every REALTOR will tell you they know the market.
If it appears they don't know everything, contact me at (626) 339-0697 or e-mail me at , and I'd be happy to answer your questions. My market knowledge will keep you a step ahead through the entire process.
Step 5 – Find the house of your dreams
We'll find the house of your dreams in the Covina area, and when that happens, I'll carefully develop your purchase offer. The offer will be tailored keeping your needs in mind and the home, including many contingencies, such as obtaining financing, carrying out the inspection, and a clean title.
When submitting your purchase offer, most likely you'll need to present "earnest money." This is a cash deposit given to a seller to secure the offer to purchase the property. The amount is typically applied to the closing costs. If the seller accepts the offer, we should close on the property about 30 to 60 days afterward. This allows sufficient time for your mortgage financing.
Step 6 – Negotiate
A lot of contracts don't close on the beginning offer – it's extremely common to receive a counter offer. But don't let it discourage you. We'll figure out whether or not to agree 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 conditions.
In addition, we'll work within your budget. And at the end of the day, we'll assemble 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.
If you're pre-approved, this shouldn't take very long at all. However, you should to keep in close contact with your lender.
And I'll care for 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 your closing costs from your mortgage lender within three days of taking your application.
This estimate is formed from the loan amount. RESPA requirements order that it has to include all closing costs and fall within a tight range of accuracy, and I'll examine the estimate and let you know if everything looks permissible.
Then it's time to close on your home. This will most likely occur at a title company or escrow office and will most likely be a smooth and relaxing event.
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 .