Are you purchasing your new home in Valencia? Scenic Hills Realty can help.
Buying a home intimidates most people, but it's not too confusing with some up-front planning.
So they'll know exactly what they can expect, I like to furnish buyers with a road map of the entire deal.
Below are my nine steps to buying a home.
Should you have questions about this information or if you're prepared to get started, just contact me here or e-mail me at .
Step 1 – Get ready to purchase a home
There are a lot of things you should contemplate prior to starting your home search.
It's likely that you'll want to form a list of items you want to have, get an idea of what neighborhoods you want to live in, and start planning your budget.
Keeping your mortgage payment less than 30 percent of your monthly income is a good rule to follow.
Step 2 – Communicate with a real estate agent
That's where I can help.
We can arrange a time to get together so we can talk about your real estate needs and get an idea of your upcoming plans.
We'll talk about the mortgage and housing industries, other economic factors that may affect your buying decision today or in the future, as well as neighborhoods and school districts in the Valencia area.
I'll also help you begin the loan process.
There are some excellent mortgage professionals in Valencia, and I partner with a lot of them, so you can rest assured that you're in great hands.
They will assist you with determining which kind of loan is best for you and help you get approved.
Step 3 – Begin looking for a house
After our first meeting, I'll start finding houses on the market that are great for you.
I'll research many of the homes and remove the duds, and then we'll book appointments to view the homes at a time that's convenient for you.
As we tour houses, I'll show you the positive features and bad ones. And I'll ask you to talk about things you like and don't like.
It's widely common for buyers to update their must-have list as we tour homes and some things become more crucial than others.
If that's the situation, I'll go back through all the listings one more time and trim it down to the house of your dreams.
Step 4 – Get a grasp of the housing market
An agent's knowledge of the Valencia market is an imperative aspect in your house search. And I can assure you I'm mindful of all the neighborhoods and schools, and I can alert you to certain areas are "hot" and call for immediate action and some that are "cold" and allow for thoughtful consideration.
When we view houses, I'll let you know when the list price has room for bargaining and when I trust the home is "priced to sell."
Any real estate agent will convince you they truly know the home market, but be mindful, and be sure to ask your agent a lot of questions.
If things don't add up, call me at 661-373-9973 or e-mail me at , and I'll be glad to answer any questions you have. My understanding of the market will keep you a step ahead through the entire process.
Step 5 – Find the home of your dreams
We'll find the house of your dreams in Valencia, and when that happens, I'll thoroughly create your real estate purchase offer. The offer will be tailored keeping your needs in mind and the home, including several contingencies. A few examples are getting financing, finishing the home inspection, and a clean title.
When we send in your purchase offer, most likely you'll want to submit "earnest money." This is a cash deposit made to the seller to secure an offer to purchase the property. The amount is most often applied to the closing costs. If the offer is accepted by the seller, we should close on the home within 30 to 60 days after. This allows enough time for your mortgage financing.
Step 6 – Negotiate the deal
Most contracts don't close on the beginning offer, and it's extremely common to receive a counter offer. Don't let it intimidate you. We'll consider whether or not to agree to the counter offer, submit our own counter offer, or refuse the seller's offer and go on.
Market circumstances determine how aggressively we negotiate the deal.
In addition, we'll work within your financing limits. And at the end of the day, we'll assemble a deal that works well for you.
Step 7 – Secure a loan
Upon completion of the contract, you'll begin working with your lender to close the loan.
If you're already pre-qualified, this won't be a long process at all, but you'll need to stay in close contact with your lender.
And I'll take care of all the property information your lender will need to close the loan.
Step 8 – Close the deal
You'll get a Loan Estimate (LE) detailing closing costs from your lender within three days of receiving your application.
The estimate is formed from the loan amount. RESPA requirements dictate that it has to involve all closing costs and be within a tight range of accuracy, and I'll go over the estimate and let you know if it all looks okay.
Then it's time to close on your house. This will likely happen at a title company or escrow office and will most likely be a smooth and hassle-free event.
Step 9 – Move in
Congratulations! 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 661-373-9973 or e-mail me at .