Contemplating purchasing your home in Valencia? Scenic Hills Realty can help.
With a little up-front planning, purchasing a home isn't that complicated, but the event can be stressful for many people.
I like to furnish buyers with an overview of the whole deal so they'll know exactly what to expect.
These are my nine steps to buying a home.
If you have questions regarding this information or if you're ready to get started, just contact me here or e-mail me at .
Step 1 – Prepare to purchase a home
There are several things you should contemplate prior to beginning your home search.
It's likely that you'll want to make a check list of features you need, get a feeling for what school districts and neighborhoods you'd like to live in, and begin working on your budget.
Keeping your mortgage payment around 1/3 of your monthly income is a good rule to go by.
Step 2 – Connect with a real estate agent in Valencia
This is where Scenic Hills Realty can help.
I'd like to plan a time to get together with you and communicate with you regarding your real estate needs and get an idea of your plans for the future.
We'll discuss the mortgage industry, other economic factors that could potentially affect your purchase today or in the future, as well as neighborhoods and school districts in the Valencia area.
I can also help you start the loan process.
There are some very good mortgage professionals in Valencia, and I work with a lot of them, so you can rest assured that you're in great hands.
They can assist you with choosing which type of loan is best for you and help you get qualified.
Step 3 – Start your search
After we meet, I'll start searching for homes on the market that meet your needs.
I'll research many of the homes and throw out the duds, and then we'll set up appointments to tour the homes when it's convenient for you.
When we view homes, I'll point out good features and bad ones. And I'll ask you about things you like and don't like.
It's common for buyers to amend their must-have list as we view homes and some things become more essential than others.
If that's the situation, I'll go back through all the listings again and narrow it down to the home you've been dreaming about.
Step 4 – Comprehend the market
Your agent's knowledge of the Valencia market is a necessary factor in your house search. And I can assure you I'm familiar with all the neighborhoods and schools, and I can communicate which districts are "hot" and call for prompt action and the ones that are "cold" and allow for cautiousness.
As we view houses, I'll be sure to tell you if the list price has room for bargaining or if I believe the home is "priced to sell."
Any REALTOR will convince you they truly understand the home market, but trust your instincts, and be sure to ask plenty of questions.
If it seems like they don't know everything, call me at 661-373-9973 or e-mail me at , and I'd be glad to answer your questions. My market knowledge will keep you a step ahead through the entire deal.
Step 5 – Find the house you've been waiting for
I know we'll find your dream house in Valencia. When that happens, I'll precisely develop your home purchase offer. The offer will be tailored to suit your needs and the home, including several contingencies. A few examples are acquiring financing, finishing the home inspection, and a clean title.
When turning in your purchase offer, you'll want to present "earnest money." This is a cash deposit submitted to a home seller to secure an offer to buy the property and is usually applied to the cost of closing. If the seller accepts the offer, we should close on the home within 30 to 60 days after. This allows plenty of time for your mortgage financing.
Step 6 – Negotiate the deal
A lot of contracts don't close on the initial offer, and it's very common to receive a counter offer. But don't let this intimidate you. We'll consider whether or not to accept the counter offer, present our own counter offer, or decline the seller's offer and move on.
Market conditions determine how aggressively we negotiate the contract.
We'll also work within your financing constraints. And when it's all said and done, we'll formulate a deal that works well for you.
Step 7 – Get your loan
Upon signing the contract, you'll start working with your mortgage lender to close the loan.
If you're pre-qualified, this won't take long at all, but you need to stay in close contact with your mortgage lender.
And I'll care for all the property information your lender will need to close the loan.
Step 8 – Close the deal
Your lender will provide you with a Loan Estimate (LE) detailing closing costs within three days of accepting your loan application. You'll get a Loan Estimate (LE) outlining your closing costs from your lender within three days of taking your loan application.
This estimate rests on the loan amount. RESPA requirements dictate that it has to involve all closing costs and fall within a tight range of accuracy, and I'll examine the estimate and let you know if everything looks adequate.
Then it's time to close on your home. This will most often occur at a title company or escrow office and will probably be a smooth and easygoing occurrence.
Step 9 – Move in
Congratulations! It's time to move into your new house. Enjoy it. And if you need anything, make sure you contact me at 661-373-9973 or e-mail me at .