BUYING A HOME?
Buying a home is stressful! But with a little planning, it's not all that difficult. Understanding what's about to happen is important from the beginning. When you work with Sarah and I, we'll keep you posted every step of the way.
Step 1 – Contact Us
We'll book a time to get together so we can talk 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, the mortgage and housing industries.
We'll also assist you in getting started on your loan. We work with some of Southern California's best mortgage professionals, so you'll be in great hands. They will help you figure out which type of loan is best for you, as well as help you get approved. There is no point starting to shop until the lender tells you exactly how much home you can afford to buy. Once we have that number we can begin our search.
Step 2 – Planning
Before we start searching for a home, you should put together a checklist of features you want, get a plan of what school districts and neighborhoods you want to live in and start planning your budget. Keeping your mortgage payment around 30 percent of your net monthly income is a good principle to go by.
Step 3 – Let's start the search
Following our initial meeting, we'll begin looking for homes on the market that match your price point and criteria. We'll start sending you a 'drip' of homes that are on the market that seem to match the criteria you've outlined.
As we view homes, your criteria may change. Some features you thought you want will beome less important and other features will take the top spot on your list. All of these decisions will start to narrow your options until - there it is - your dream home!
Step 4 – You found the house of your dreams
We are sure we'll find the house of your dreams, and when we do, we'll be ready to put your offer together!
Upon presenting your purchase offer, you'll need to have a "deposit." This is a cash deposit that must be given to escrow within 3 business days of acceptance of your offer. This money is part of your downpayment. You should have approximately 3% of the purchae price to use as your deposit. This will send a message to the seller that we are serious about buying their home.
Step 5 – Negotiating the purchase
A lot of contracts don't close on the first offer. It's extremely common to receive a counter offer. We'll figure out whether or not to consent to the counter offer, submit our own counter offer, or decline the seller's offer and go on.
Market conditions determine how aggressively we negotiate the contract. Sarah's favorite part of the job. We pride ourselves in getting the 'deal done' at a price that will make you smile.
Step 6 – Secure your loan
Once the contract is complete, you'll start working with your lender to close the loan. If you're pre-approved, this shouldn't take very long at all, but you'll want to keep in close contact with your lender. And we'll take care of all the property information your lender will need to close the loan.
Step 7 – Close the deal
Your mortgage lender will provide you with a Good Faith Estimate (GFE) of your closing costs within three days of accepting your application. And before you know the inspection, the appraisal, the followup steps are done and you will be ready to sign your loan docs & close!
Step 8 – Move in
Success! Now you can move into your new house. Enjoy it. There is nothing like the price of ownership.