Buying or selling a home? Tarbell Realtors can help.
Buying a home intimidates a lot of people, but with a little planning ahead of time, it's not all that complicated.
So you know exactly what to expect, I like to supply my buyers with an outline of the whole deal.
These are my nine steps to buying a home.
Step 1 – Prepare to purchase a home
There are plenty of things you'll want to contemplate before you search for a home.
When you begin your search, you'll want to create an index of items you want to have, get an idea of what neighborhoods and school districts you want to live in, and begin planning around your budget.
A good guideline to go by is that your mortgage payment should be a third of your monthly income.
Step 2 – Get in touch with a real estate agent
This is where I can help.
I'll plan a time to meet so we can talk about your real estate needs and get an idea of your upcoming plans.
We'll discuss everything from neighborhoods, schools in the Corona area, the mortgage and housing industries, to any other economic factors that might affect your purchase today or in the future.
In addition, I'll help you facilitate the loan process.
There are some very good mortgage professionals in Corona, and I work with a lot of them, so you'll be in great hands.
They can help you figure out which type of loan is best for you, as well as help you get qualified.
Step 3 – Begin your search
After our initial meeting, I'll begin finding houses on the market that meet your needs.
I'll get a sneak peek of most of the homes and ignore the bad ones, and then we'll schedule appointments to view the homes whenever it's most convenient for you.
As we tour the homes, I'll identify positive features and negative ones. I'll even ask you about things you like and dislike.
It's widely common for buyers to update their must-have list as we tour houses and some things become far more important than others.
If that happens, I'll search all the listings once again and trim it down to the house you've been dreaming about.
Step 4 – Get a grasp of the market
My knowledge of the Corona market is an indispensable resource in your search. I am mindful of all the neighborhoods and school districts, and I can let you know some neighborhoods are "hot" and warrant prompt action and the ones that are "cold" and allow for thoughtful consideration.
When we view houses, I'll make sure to communicate when the asking price has room for bargaining and when I believe the home is "priced to sell."
When working with an agent, be on guard and be sure to ask lots of questions, as any REALTOR® will claim to understand the housing market.
If it seems like they don't know everything, contact me at (714) 343-1267 or e-mail me at email@example.com, and I'll be happy to answer any questions you might have. My market knowledge will keep you a step ahead through the entire deal.
Step 5 – Find your dream house
I know we'll find your dream house in Corona. When that happens, I'll precisely create your home purchase offer. The offer will be tailored keeping your needs in mind, including some contingencies. A few examples are obtaining financing, finishing the home inspection, and a clear title.
When submitting your purchase offer, you'll probably need to submit "earnest money." This is a cash deposit made to a seller to secure an offer to purchase the property and is usually put towards the closing costs. If the seller accepts your offer, we should close within 30 to 60 days after. This allows ample time for your mortgage financing.
Step 6 – Negotiate
Unfortunately most contracts aren't closed on the first offer – it's widely common to receive a counter offer. Don't let this alarm you. We'll discuss whether or not to take the counter offer, submit our own counter offer, or reject the seller's offer and go on.
The state of the market will play a big part in how aggressively we negotiate the contract.
In addition, we'll work within your financing budget. And when it's all said and done, we'll compose a contract that works well for you.
Step 7 – Get your loan
Once we sign the final contract, you'll start working with your mortgage lender to close the loan.
If you've been pre-approved, it won't take long at all, but you'll want to stay in close contact with your mortgage lender.
And I'll manage all the property information your lender will need to close the loan.>
Step 8 – Close the deal
Your mortgage lender will provide you with a Good Faith Estimate (GFE) detailing your closing costs within three days of getting your application.
The estimate is based on the loan amount. RESPA requirements require that it has to involve all closing costs and be within a close range of accuracy, and I'll go over the estimate and let you know if it all looks all right.
Then it's time to close on your house. This will probably occur at a title company or escrow office and is often a smooth and relaxed occasion.
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 (714) 343-1267 or send me an e-mail.