Buying or selling a home in San Gabriel Valley? BrokerInTrust Real Estate can help.
Buying a home intimidates most people, but it's not too difficult with some up-front planning.
I like to give buyers an overview of the whole deal so they'll understand exactly what to expect.
These are my nine steps to purchasing a home.
When you're ready to get started, just contact me here or send me e-mail
. I'm glad to answer any questions you have regarding this information.
Step 1 – Get ready to buy
Before you commence your home search, there are many things you'll want to contemplate.
It's likely that you'll want to form a check list of items you need to have, get a feel for what neighborhoods you want to live in, and begin working on your budget.
Keeping your mortgage payment less than or close to 30 percent of your monthly income is a good principle to adhere to.
Step 2 – Talk to a real estate agent in San Gabriel Valley
That's where I come in.
I'd be more than happy to plan a time to get together with you and communicate with you regarding why you want to buy a home and get an idea of your plans for the future.
We'll discuss the mortgage and housing industries, other economic factors that may affect your purchase today or in the future, as well as neighborhoods and schools in the San Gabriel Valley area.
I can also help you start the loan process.
There are some excellent mortgage professionals in San Gabriel Valley, and I work with a lot of them, so you're in great hands.
They will assist you in deciding which type of loan is best for you and help you get approved.
Step 3 – Start looking for a house
After our initial meeting, I'll begin looking for houses on the market that are a good fit for you.
I'll preview many of the homes and remove the bad ones, and then we'll book appointments to view the homes when it's most convenient for you.
As we view the homes, I'll call attention to positive features and negative ones. And I'll ask you to tell me about things you like and dislike.
It's pretty common for buyers to amend their must-have list as we view houses and some items become more necessary than others.
If that's the case, I'll go back through all the listings another time and narrow it down to the home of your dreams.
Step 4 – Get a grasp of the market
My knowledge of the San Gabriel Valley home market is a fundamental resource in your search. I am informed of all the schools and neighborhoods, and I'll communicate which areas are "hot" and demand immediate action and the rest that are "cool" and allow for careful examination.
As we view homes, I'll make sure to communicate when the asking price has room for negotiation and when I trust the house is "priced to sell."
When working with an agent, be mindful and be sure to ask plenty of questions, as every real estate agent will convince you they comprehend the housing market.
If it seems like they don't know everything, just call me at (626)461-7066 or e-mail me at firstname.lastname@example.org, and I'd be glad to answer any questions you may have. My knowledge of the market will help you stay a step ahead throughout the entire deal.
Step 5 – Find your dream house
I'm confident we'll find your dream home in San Gabriel Valley. When we do, I'll meticulously develop your purchase offer. The offer will be tailored keeping your needs in mind, including some contingencies, such as acquiring financing, carrying out the home inspection, and a clean title.
Upon presenting your offer, most likely you'll want to submit "earnest money." This is a cash deposit given to a seller to secure an offer to buy the property, and it's typically put towards the closing costs. If the seller accepts your offer, we should close about 30 to 60 days afterward. This allows enough time for your mortgage financing.
Step 6 – Negotiate the deal
Unfortunately most contracts aren't closed on the first offer, and it's pretty common to receive a counter offer. Don't let it discourage you. We'll figure out whether or not to take the counter offer, present our own counter offer, or reject the seller's offer and move on.
How aggressively we negotiate the deal depends on market circumstances.
We'll also work within your financing constraints. And at the end of the day, we'll put together a deal that is best for you.
Step 7 – Obtain financing
Upon signing the contract, you'll start working with your lender to close the loan.
If you've been pre-approved, this shouldn't take much time at all, but you'll need to keep in close contact with your mortgage lender.
And I'll sort out all the property information your mortgage lender will need to close the loan.>
Step 8 – Close the deal
You'll get a Good Faith Estimate (GFE) of your closing costs from your lender within three days of getting your loan application.
The estimate rests on the loan amount, and RESPA requirements mandate that it has to involve all closing costs and fall within a narrow range of accuracy. I'll analyze the estimate and let you know if it all looks good.
Then it's time to close on your home. This should take place at a title company or escrow office and will most often be a smooth and calm affair.
Step 9 – Move in
You made it! Now you can move into your new house. Enjoy it. And if you need anything, make sure you call me at (626)461-7066 or send me an e-mail.