Buying a home can be stressful for many people, but with a little up-front planning, it's not that confusing.
I like to furnish buyers with a road map of the whole deal so they'll understand exactly what to expect.
These are my nine steps to buying a home.
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Should you have any questions regarding this information or if you're ready to get started, you can contact me here or e-mail me at janesantiago@charter.net.
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Step 1 – Get ready to buy a home
There are many things you should take into account prior to starting your home search.
When you begin your search, you'll probably want to create an index of must-haves, get a feeling for what neighborhoods and school districts you want to live in, and start working on your budget.
Keeping your mortgage payment less than or around 1/3 of your monthly income is a good rule to adhere to.
Step 2 – Get with a real estate agent in Alta Loma, CA 91701
This is where Century21 Experience comes in.
I'd be more than happy to set up a time to get together with you and speak with you regarding why you want to buy a home and get an idea of your upcoming plans.
We'll discuss everything from neighborhoods, schools in the Alta Loma, CA 91701 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 assist you with getting started on your loan.
I work with some of the finest mortgage professionals in Alta Loma, CA 91701, so you can rest assured that you're in great hands.
They will help you figure out which kind of loan is best for you, as well as help you get approved.
Step 3 – Begin looking for a house
After our first meeting, I'll begin looking for available houses on the market that are a good fit for you.
I'll research most of the houses and reject the duds, and then we'll set up appointments to view the houses when it's convenient for you.
As we tour the homes, I'll show you the good features, as well as negative ones. I'll also ask you what things you like and don't like.
It's widely common for buyers to update their must-have list as we view homes and some features become far more crucial 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 waiting for.
Step 4 – Know the market
An agent's understanding of the Alta Loma, CA 91701 housing market is an imperative factor in your home search. And I assure you I'm conscious of all the neighborhoods and school districts, and I can let you know what neighborhoods are "hot" and call for immediate action and some that are "cold" and allow for more consideration.
As we view houses, I'll be sure to tell you if the seller's list price has room for negotiation or if I believe the house is "priced to sell."
When working with an agent, be careful and make sure you ask a lot of questions. Any REALTOR® in Alta Loma, CA 91701 will claim to understand the market.
If it doesn't seem like they know everything, call me at 909-373-4400 or e-mail me at janesantiago@charter.net, and I'll be glad to answer your questions. My knowledge of the market will keep you a step above the rest throughout the entire deal.
Step 5 – Find the house you've been waiting for
We'll find your dream house in the Alta Loma, CA 91701 area, and when that happens, I'll meticulously develop your real estate purchase offer. The offer will be written exactly to your needs. Whenever necessary, I never forget to make contracts contingent upon items like acquiring financing and the results of the home inspection.
When we present your offer, you'll likely need to submit "earnest money." This is a cash deposit given to the home seller to secure the offer to purchase the property, and it's typically put towards the closing costs. If the seller accepts the offer, we should close within 30 to 60 days afterward. This allows ample time for your mortgage financing.
Step 6 – Negotiate
A lot of contracts don't close on the beginning offer, and it's pretty common to receive a counter offer. Don't let it discourage you. We'll consider whether or not to accept the counter offer, present our own counter offer, or decline the seller's offer and go on.
How aggressively we negotiate the contract depends on market circumstances.
In addition, we'll work within your financing constraints. And at the end of the day, we'll formulate a deal that's best for you.
Step 7 – Obtain financing
Upon finalizing the deal, you'll start working with your mortgage lender to close the loan.
If you're already pre-qualified, this shouldn't be a long process at all, but you need to stay in close contact with your mortgage lender.
And I'll sort out all the property information your lender needs to close the loan.
Step 8 – Close the deal
Your mortgage lender will supply you with a Good Faith Estimate (GFE) outlining your closing costs within three days of accepting your loan application. You'll get a Good Faith Estimate (GFE) outlining closing costs from your mortgage lender within three days of receiving your application.
The estimate rests on the loan amount, and RESPA requirements mandate that it has to contain all closing costs and be within a tight range of accuracy. I'll study the estimate and let you know if it all looks permissible.
Then it's time to close on your house. This will most often happen at a title company or escrow office and will probably be a smooth and relaxed occasion.
Step 9 – Move in
You made it! It's time to move into your new house. Enjoy it. And if you need anything or have any questions, make sure you call me at 909-373-4400 or send me an e-mail.
