Purchasing a home in Covina

Buying a home is a stressful event for many people, but with some planning ahead of time, it's not too complicated. I like to furnish buyers with an outline of the entire deal so they'll understand exactly what they can expect. These are my nine steps to purchasing a home. If you have any questions regarding this information or if you're prepared to get started, just contact me here or e-mail me at .

Step 1 – Get ready to buy
There are a lot of things you should contemplate prior to beginning your home search. You'll probably want to create an outline of must-haves, get a feeling for what neighborhoods you want to live in, and begin working on your budget. A good principle to follow is that your mortgage payment should be less than or close to 30 percent of your net monthly income.

Step 2 – Connect with a real estate agent
This is where I can help. We'll book 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 discuss the mortgage industry, other economic factors that could affect your buying decision today or in the future, as well as neighborhoods and schools in the Covina area.

I can also help you begin the loan process. In Home Realty works with some of the best mortgage professionals in Covina, so you'll be in great hands. They'll help you decide which type of loan is best for you, as well as help you get qualified.

Step 3 – Start house-hunting
Following our first meeting, I'll begin looking for homes on the market that suit your needs. I'll preview most of the houses and eliminate the bad ones, and then we'll schedule appointments to view the houses when it's convenient for you.

When we tour the houses, I'll call attention to positive features and negative ones. And I'll ask you to point out what things you like and don't like. It's pretty common for buyers to revise their list of must-haves as we view homes and some things become more crucial than others. If that's the situation, I'll search all the listings once more and trim it down to the house you've been dreaming about.

Step 4 – Get a grasp of the market
My knowledge of the Covina market is an essential element in your home search. I am familiar with all the neighborhoods and schools, and I can let you know what areas are "hot" and require prompt action and some that are "cold" and allow for thoughtful examination.

As we tour homes, I'll make sure to communicate if the asking price has room for negotiation or if I believe the home is "priced to sell." Any REALTOR will tell you they truly understand the market, but be on guard, and make sure you ask your agent a lot of questions. If it appears they don't know everything, just call me at 6266087310 or e-mail me at , and I'll be happy to answer any questions you might have. My market expertise will help you stay a step above the rest through the entire process.

Step 5 – Find the home you've been waiting for
We'll find the home of your dreams in the Covina area, and when that happens, I'll thoroughly develop your home purchase offer. The offer will be made to fit your needs and the home. We'll include many contingencies, such as obtaining financing, finishing the inspection, and a clean title.

When submitting your offer, you'll want to present "earnest money." This is a cash deposit given to the seller to secure the offer to buy the property, and it's usually applied to the closing costs. If the offer is accepted by the seller, we should close on the home about 30 to 60 days after. This allows plenty of time for your mortgage financing.

Step 6 – Negotiate the deal
Unfortunately most contracts don't close on the initial offer. It's widely common to receive a counter offer. Don't let it discourage you. We'll consider whether or not to consent to the counter offer, submit our own counter offer, or reject the seller's offer and go on.

How aggressively we negotiate the deal depends on the state of the market. In addition, we'll work within your financing budget. And when it's all said and done, we'll create a contract that is best for you.

Step 7 – Obtain your loan
Upon signing the deal, you'll start working with your lender to close the loan. This shouldn't take long at all if you've been pre-approved, but you should to stay 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
You'll get a Loan Estimate (LE) of closing costs from your lender within three days of accepting your application. The estimate is based on the loan amount. RESPA requirements dictate that it has to involve all closing costs and be within a narrow range of accuracy, and I'll examine the estimate and let you know if it all looks good.

Then it's time to close on your house. This will most likely occur at a title company or escrow office and will most often be a smooth and calm occurrence.

Step 9 – Move in
Congratulations! Now you can move into your new home. Enjoy it. And if you need anything or have any questions, simply call me at 6266087310 or e-mail me at .