Purchasing your new home in Valencia with Scenic Hills Realty
Purchasing a home intimidates many people, but with some up-front planning, it's not that confusing.
I like to give buyers an outline of the entire deal so they'll understand exactly what to expect.
Here are my nine steps to buying a home.
When you're ready to get started, just contact me here or e-mail me at . I'm happy to address any questions you have about this information.
Step 1 – Prepare to purchase
There are many things you should do before you search for a home.
When you start your search, you'll want to form an index of items you need to have, get a feeling for what school districts you'd like to live in, and start planning around your budget.
A good principle to go by is that your mortgage payment should be less than or close to 1/3 of your monthly income.
Step 2 – Get in touch with a real estate agent
This is where Scenic Hills Realty comes in.
I'd be more than happy to schedule a time to get together with you and talk about why you want to buy a home and get an idea of your plans for the future.
We'll talk about neighborhoods, schools in the Valencia area, the mortgage industry, and any additional economic factors that might affect your buying decision today or in the future.
In addition, I'll help you start the loan process.
There are some excellent mortgage professionals in Valencia, and I work with a lot of them, so you'll be in great hands.
They can assist you in determining which type of loan is best for you and help you get qualified.
Step 3 – Start your search
After we meet, I'll begin searching for available homes on the market that are good for you.
I'll research many of the houses and throw out the bad ones, and then we'll schedule appointments to view the homes when it's most convenient for you.
As we view the houses, I'll call attention to good features, as well as negative ones. I'll even ask you to point out what things you like and dislike.
It's pretty common for buyers to update their wish list as we tour houses and some features become more important than others.
If such is the case, I'll search all the listings again and trim it down to the house you've been waiting for.
Step 4 – Get a grasp of the market
Your agent's awareness of the Valencia market is an essential aspect in your house search. And I assure you I'm acquainted with all the schools and neighborhoods, and I'll alert you to some districts are "hot" and warrant immediate action and some that are "cool" and allow for careful examination.
When we view homes, I'll be sure to tell you if the list price has room for negotiation or if I believe the home is "priced to sell."
When working with an agent, be careful and be sure to ask lots of questions. Any REALTOR will claim to know the housing market.
If it appears they don't know everything, call me at 661-373-9973 or e-mail me at , and I'll be more than happy to answer any questions you might have. My knowledge of the market will help you stay a step ahead through the entire deal.
Step 5 – Find your dream home
We'll find your dream home in the Valencia area, and when we do, I'll carefully create your home purchase offer. The offer will be tailored with your needs in mind and the home, including several contingencies. A few examples are acquiring financing, completing the home inspection, and a clear title.
When sending in your offer, you'll likely need to present "earnest money." This is a cash deposit made to a home seller to secure an offer to purchase the property and is usually applied to the cost of closing. If your offer is accepted by the seller, we should close about 30 to 60 days afterward. This allows enough time for your mortgage financing.
Step 6 – Negotiate the deal
A lot of deals aren't closed on the initial offer – it's really common to receive a counter offer. But don't let it discourage you. We'll figure out whether or not to agree to the counter offer, propose our own counter offer, or reject the seller's offer and move on.
The state of the market determines how aggressively we negotiate the deal.
In addition, we'll work within your financing limits. And when it's all said and done, we'll assemble a deal that is best for you.
Step 7 – Secure your loan
After we sign the final deal, you'll start working with your lender to close the loan.
If you're already pre-qualified, it shouldn't take very long at all, but you need to keep in close contact with your lender.
And I'll look after all the property information your lender needs to close the loan.
Step 8 – Close the deal
Your lender will furnish you with a Loan Estimate (LE) detailing closing costs within three days of taking your loan application. You'll get a Loan Estimate (LE) of your closing costs from your lender within three days of getting your loan application.
The estimate is based on the loan amount. RESPA requirements mandate that it has to involve all closing costs and fall within a precise range of accuracy, and I'll review the estimate and let you know if it all looks permissible.
Then we'll close on your house. This will likely occur at a title company or escrow office and will likely be a smooth and stress-free event.
Step 9 – Move in
Congratulations! Now you can 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 .