Purchasing a home is an intimidating event for a lot of people, but with a little up-front planning, it isn't very complicated.
I like to give buyers an outline of the whole deal so they'll know exactly what they can expect.
These are my nine steps to buying a home.
Step 1 – Prepare to buy
Before you begin searching for a home, there are plenty of things you'll want to consider.
When you begin your search, you'll want to make a list of items you need, get a plan of what school districts and neighborhoods you want to live in, and start planning your budget.
A good rule of thumb to follow is that your mortgage payment should be less than or around 30 percent of your monthly income.
Step 2 – Talk to a real estate agent
This is where Real Estate eBroker DRE# 1522411 comes in.
I'd be happy to book a time to get together with you and speak with you about your real estate needs and get an idea of your future plans.
We'll discuss the mortgage industry, other economic factors that may affect your buying decision today or in the future, as well as neighborhoods and school districts in the Vista area.
In addition, I'll help you begin the loan process.
There are some very good mortgage professionals in Vista, and I work with a lot of them, so you're in great hands.
They will help you choose which kind of loan is best for you, as well as help you get qualified.
Step 3 – Begin your search
Following our first meeting, I'll start searching for available houses on the market that meet your needs.
I'll preview most of the homes and exclude the duds, and then we'll set up appointments to tour the houses whenever it's most convenient for you.
As we view the houses, I'll show you the positive features, as well as bad ones. I'll also ask you about things you like and don't like.
As a rule, buyers amend their wish list as we tour homes and some items become far more substantial than others.
If that's the situation, I'll look through all the listings another time and trim it down to the home you've been wishing for.
Step 4 – Know the housing market
My understanding of the Vista housing market is a fundamental resource in your house search. I'm acquainted with all the school districts and neighborhoods, and I'll alert you to some areas are "hot" and warrant prompt action and some that are "cold" and allow for careful examination.
As we view homes, I'll be sure to tell you when the seller's asking price has room for bargaining and also when I know the house is "priced to sell."
When working with an agent, be on guard and make sure you ask plenty of questions. Every REALTOR® will tell you they know the home market.
If it appears they don't know everything, call me at 1800 944-1560 or e-mail me at 4adela@gmail.com, and I'd be glad to answer your questions. My market expertise will keep you a step above the rest through the entire process.
Step 5 – Find the house of your dreams
I'm sure we'll find your dream home in Vista, and when we do, I'll precisely develop your home purchase offer. The offer will be tailored to suit your needs. Whenever necessary, I never forget to make contracts contingent upon items like your ability to secure financing and the results of the home inspection.
When presenting your purchase offer, you'll likely need to present "earnest money." This is a cash deposit made to the home seller to secure an offer to purchase the property, and it's typically applied to the cost of closing. If your offer is accepted, we should close on the home within 30 to 60 days after. This allows necessary time for your mortgage financing.
Step 6 – Negotiate the deal
Most deals don't close on the first offer. It's pretty common to receive a counter offer. Don't let it discourage you. We'll talk about whether or not to accept the counter offer, submit our own counter offer, or refuse the seller's offer and move on.
The state of the market will play a large role in how aggressively we negotiate the contract.
In addition, we'll work within your budget. And at the end of the day, we'll formulate a deal that works well for you.
Step 7 – Obtain a loan
After we sign the final contract, you'll begin working with your lender to close the loan.
This shouldn't take very long at all if you've been pre-approved, but you need to stay in close contact with your lender.
And I'll deal with all the property information your mortgage lender needs to close the loan.
Step 8 – Close the deal
Your mortgage lender will provide you with a Good Faith Estimate (GFE) detailing closing costs within three days of accepting your application. You'll get a Good Faith Estimate (GFE) of your closing costs from your mortgage lender within three days of receiving your loan application.
The estimate is based on the loan amount. RESPA requirements mandate that it has to contain all closing costs and be within a strict range of accuracy, and I'll analyze the estimate and let you know if everything looks good.
Then it's time to close on your home. This should occur at a title company or escrow office and will probably be a smooth and comfortable affair.
Step 9 – Move in
You made it! Now you can move into your new home. Enjoy it. And if you need anything, just call me at 1800 944-1560 or send me an e-mail.
