Purchasing a home is a stressful event for most people. However, with a bit of planning ahead of time, it isn't that complex. So you'll know exactly what to expect, I like to provide my buyers with an overview of the whole deal. Here are my nine steps to buying a home.
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When you're ready to get started, simply contact me here or send e-mail to alanadamo@yahoo.com. I'm happy to answer questions you have regarding this information. |
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Step 1 – Prepare to purchase a home
Before you start searching for a home, there are plenty of things you need to do. When you begin your search, you'll probably want to assemble a checklist of features you want to have, get a feeling for what neighborhoods and school districts you want to live in, and start working on your budget. Keeping your mortgage payment around a third of your net monthly income is a good principle to follow.
Step 2 – Speak with a real estate agent in Huntington Beach
This is where Westline Real Estate can help. We'll schedule a time to get together so we can talk about your real estate needs and get an idea of your plans for the future. We'll talk about everything from neighborhoods, school districts in the Huntington Beach area, the mortgage industry, to any other economic factors that may potentially affect your buying decision today or in the future.
I'll also help you start the loan process. There are some great mortgage professionals in Huntington Beach, and I work with a lot of them, so you can rest assured that you're in great hands. They will help you choose which kind of loan is best for you, as well as help you get qualified.
Step 3 – Start your search
After we meet, I'll start finding available homes on the market that are great for you. I'll research many of the houses and reject the duds, and then we'll schedule appointments to view the houses when it's convenient for you.
When we tour the houses, I'll show you the positive features, as well as bad ones. I'll even ask you to talk about things you like and don't like. It's common for buyers to update their wish list as we view houses and some items become far more necessary than others. If that's the situation, I'll look through the listings another time and narrow it down to the house you've been waiting for.
Step 4 – Get a feel for the housing market
My awareness of the Huntington Beach housing market is a valuable resource in your house search. I'm mindful of all the neighborhoods and schools, and I will communicate what areas are "hot" and require immediate action and some that are "cool" and allow for thoughtful analysis.
When we view houses, I'll make sure to communicate when the list price has room for negotiation and when I think the house is "priced to sell." Any REALTOR® will claim to know the housing market, but be wary, and be sure to ask your agent a lot of questions. If it doesn't seem like they know everything, call me at 714-726-5429 or e-mail me at alanadamo@yahoo.com, and I'd be more than happy to answer any questions you have. My market knowledge will help you stay a step ahead through the entire process.
Step 5 – Find your dream home
I'm sure we'll find the house of your dreams in the Huntington Beach area. When we do, I'll thoroughly develop your purchase offer. The offer will be tailored keeping your needs in mind, including many contingencies, such as acquiring financing, completing the home inspection, and a clean title.
Upon submitting your offer, most likely you'll need to present "earnest money." This is a cash deposit submitted to the seller to secure the offer to purchase the property and is usually applied to the cost of closing. If the seller accepts your offer, we should close about 30 to 60 days after. This allows sufficient time for your mortgage financing.
Step 6 – Negotiate the deal
Unfortunately most contracts don't close on the initial offer – it's very common to receive a counter offer. Don't let it discourage you. We'll discuss whether or not to consent to the counter offer, present our own counter offer, or refuse the seller's offer and move on.
Market circumstances will play a large role in 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 contract that works well for you.
Step 7 – Secure financing
Upon signing the contract, you'll start working with your mortgage lender to close the loan. If you've been pre-qualified, it shouldn't take long at all. However, you'll want to stay in close contact with your mortgage lender. And I'll care for all the property information your mortgage lender will need to close the loan.
Step 8 – Close the deal
Your mortgage lender will supply you with a Good Faith Estimate (GFE) of your closing costs within three days of taking your application. You'll get a Good Faith Estimate (GFE) outlining closing costs from your mortgage lender within three days of accepting your application. The estimate is based on the loan amount, and RESPA requirements order that it has to involve all closing costs and be within a precise range of accuracy. 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 take place at a title company or escrow office and will likely be a smooth and comfortable affair.
Step 9 – Move in
Congratulations! Now you can move into your new home. Enjoy it. And if you need anything, simply call me at 714-726-5429 or send me an e-mail.
