Are you buying your home in Covina?

Buying a home intimidates many people, but it's not all that difficult with a bit of planning ahead of time. So they understand exactly what to expect, I like to furnish buyers with an overview of the entire deal. These are my nine steps to buying a home. When you're ready to get started, you can contact me here or e-mail me at . I'm happy to answer any questions you have about this information.

Step 1 – Prepare to purchase
There are several things you need to contemplate prior to starting your home search. You'll want to create an index of features you want, get a feel for what school districts and neighborhoods you want to live in, and begin planning your budget. Keeping your mortgage payment less than 30 percent of your net monthly income is a good rule to go by.

Step 2 – Communicate with a real estate agent
This is where I come in. I'd be happy to set up a time to meet with you and communicate with you regarding your real estate needs and get an idea of your upcoming plans. We'll discuss the mortgage and housing industries, other economic factors that might affect your buying decision today or in the future, as well as neighborhoods and schools in the Covina area.

I can also assist you in getting started on your loan. There are some very good mortgage professionals in Covina, and I work with a lot of them, so you're in great hands. They will assist you in choosing which kind of loan is best for you and help you get qualified.

Step 3 – Start house hunting
After our first meeting, I'll begin searching for houses on the market that are a good fit for you. I'll get a sneak peek of most of the houses and exclude the bad ones, and then we'll set up appointments to tour the homes when it's most convenient for you.

As we tour the homes, I'll point out good features, as well as bad ones. I'll even ask you about things you like and dislike. It's widely common for buyers to change their list of must-haves as we view houses and some items become more substantial than others. If such is the case, I'll search the listings once more and narrow it down to the house you've been wishing for.

Step 4 – Comprehend the market
An agent's knowledge of the Covina home market is a leading factor in your house search. And I can assure you I'm conscious of all the schools and neighborhoods, and I will let you know some districts are "hot" and demand immediate action and some that are "cold" and allow for thoughtful analysis.

As we view houses, I'll be sure to tell you if the asking price has room for bargaining or if I believe the home is "priced to sell." When working with an agent, trust your instincts and make sure you ask lots of questions. Every real estate agent will claim to comprehend the housing market. If it appears they don't know everything, contact me at (626) 608-7310 or e-mail me at , and I'll be more than happy to answer your questions. My understanding of the market will keep you a step above the rest throughout the entire process.

Step 5 – Find the house of your dreams
I'm confident we'll find your dream house in Covina. When we do, I'll thoroughly develop your home purchase offer. The offer will be made to suit your needs and the home. We'll include many contingencies, such as acquiring financing, completing the inspection, and a clear title.

Upon presenting your offer, you'll want to present "earnest money." This is a cash deposit given to the home seller to secure an offer to purchase the property, and it's most often applied to the cost of closing. If the seller accepts your offer, we should close on the property about 30 to 60 days afterward. This allows plenty of time for your mortgage financing.

Step 6 – Negotiate
Unfortunately most contracts don't close on the first offer – it's really common to receive a counter offer. But don't let this intimidate you. We'll discuss whether or not to consent to the counter offer, present our own counter offer, or decline the seller's offer and move on.

How aggressively we negotiate the deal depends on market conditions. We'll also work within your financing limits. And when it's all said and done, we'll put together a contract that works well for you.

Step 7 – Obtain a loan
Once the deal is finished, you'll begin working with your mortgage lender to close the loan. If you're pre-approved, it shouldn't take long at all, but you need to keep in close contact with your mortgage lender. And I'll sort out all the property information your mortgage 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 loan application. The estimate is based on the loan amount, and RESPA requirements order that it has to contain all closing costs and fall within a tight range of accuracy. I'll study the estimate and let you know if everything looks permissible.

Then it's time to close on your home. This should take place at a title company or escrow office and will most often be a smooth and relaxing event.

Step 9 – Move in
Congratulations! It's time to move into your new home. Enjoy it. And if you need anything or have any questions, simply call me at (626) 608-7310 or e-mail me at .

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