Are you contemplating buying your new home in Covina? All Seasons Real Estate, Inc can help.
Purchasing a home can be stressful for many people. However, with a little planning ahead of time, it isn't too confusing.
So they know exactly what they can expect, I like to furnish buyers with an outline of the entire deal.
Below are my nine steps to purchasing a home.
If you have questions about this information or if you're ready to get started, you can contact me here or e-mail me at .
Step 1 – Prepare to buy a home
There are several things you'll want to do before beginning your home search.
It's likely that you'll want to assemble a check list of must-haves, get an idea of what neighborhoods you want to live in, and begin planning around your budget.
A good principle to go by is that your mortgage payment should be 30 percent of your net monthly income.
Step 2 – Contact a real estate agent
That's where I come in.
I'd love to book a time to meet with you and speak with you about why you want to buy a home and get an idea of your plans for the future.
We'll discuss everything from neighborhoods, schools in the Covina area, the mortgage industry, to any other economic factors that may potentially affect your buying decision today or in the future.
In addition, I'll help you get started on your loan.
All Seasons Real Estate, Inc partners with some of the best mortgage professionals in Covina, so you can rest assured that you're in great hands.
They can assist you with deciding which kind of loan is best for you and help you get qualified.
Step 3 – Begin house-hunting
After our initial meeting, I'll start looking for homes on the market that are great for you.
I'll get a sneak peek of most of the houses and remove the duds, and then we'll book appointments to tour the houses at a time that's convenient for you.
As we tour the homes, I'll point out good features, as well as negative ones. And I'll ask you what things you like and don't like.
Oftentimes, buyers change their wish list as we view houses and some things become more essential than others.
If that happens, I'll go back through all the listings once again and narrow it down to the home you've been dreaming about.
Step 4 – Comprehend the housing market
An agent's awareness of the Covina home market is an imperative aspect in your home search. And I can assure you I'm mindful of all the schools and neighborhoods, and I will communicate what areas are "hot" and call for immediate action and the ones that are "cool" and allow for more examination.
As we view houses, I'll be sure to tell you when the asking price has room for bargaining and when I know the home is "priced to sell."
When working with an agent, be mindful and be sure to ask plenty of questions. Any real estate agent in Covina will claim to comprehend the market.
If things don't add up, call me at (626) 339-0697 or e-mail me at , and I'll be more than happy to answer any questions you may have. My knowledge of the market will keep you a step ahead throughout the entire process.
Step 5 – Find the house you've been looking for
We'll find your dream house in the Covina area, and when we do, I'll carefully create your home purchase offer. The offer will be tailored to suit your needs and the home, including a lot of contingencies, such as getting financing, completing the inspection, and a clean title.
When submitting your offer, you'll need to present "earnest money." This is a cash deposit submitted to a seller to secure an offer to buy the property, and it's usually put towards the closing costs. If your offer is accepted, we should close on the home within 30 to 60 days after. This allows sufficient time for your mortgage financing.
Step 6 – Negotiate
A lot of contracts don't close on the initial offer. It's extremely common to receive a counter offer. But don't let this intimidate you. We'll consider whether or not to accept the counter offer, propose our own counter offer, or decline the seller's offer and move on.
Market circumstances determine how aggressively we negotiate the deal.
We'll also work within your financing budget. And at the end of the day, we'll create a deal that's best for you.
Step 7 – Obtain financing
Upon signing the deal, you'll begin working with your lender to close the loan.
If you're pre-qualified, this shouldn't take very long at all. However, you'll want to keep in close contact with your lender.
And I'll handle all the property information your mortgage lender needs to close the loan.
Step 8 – Close the deal
Your lender will furnish you with a Loan Estimate (LE) outlining your closing costs within three days of getting your application. You'll get a Loan Estimate (LE) detailing your closing costs from your mortgage lender within three days of receiving your loan application.
This estimate is based on the loan amount, and RESPA requirements require that it has to involve all closing costs and fall within a close range of accuracy. I'll study the estimate and let you know if everything looks okay.
Then we'll close on your home. This will most often take place at a title company or escrow office and will most often be a smooth and comfortable occurrence.
Step 9 – Move in
Congratulations! It's time to move into your new home. Enjoy it. And if you have any questions, be sure to contact me at (626) 339-0697 or e-mail me at .