Buying or selling a home?

For many people, buying a home can be a stressful event. However, with a bit of up-front planning, it isn't that complex. I like to furnish buyers with an outline of the whole deal so they'll understand exactly what to expect. These are my nine steps to purchasing 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 buy
There are many things you need to contemplate before beginning your home search. When you begin your search, you'll probably want to form a list of items you need to have, get a feeling for what neighborhoods you'd like to live in, and start planning around your budget. A good guideline to adhere to is that your mortgage payment should be close to 30 percent of your monthly income.

Step 2 – Talk to a real estate agent
This is where In Home Realty comes in. We can set up a time to meet so we can talk about why you want to buy a home and get an idea of your plans for the future. We'll discuss the mortgage and housing industries, other economic factors that could potentially 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. There are some great mortgage professionals in Covina, and I work with a lot of them, so you can rest assured that you're in great hands. They will help you determine which type of loan is best for you, as well as help you get approved.

Step 3 – Start house hunting
After our initial meeting, I'll start looking for houses on the market that are a great fit for you. I'll research most of the houses and throw out the bad ones, and then we'll book appointments to view the homes when it's convenient for you.

When we view the houses, I'll show you the good features, as well as negative ones. And I'll ask you about things you like and dislike. It's pretty common for buyers to update their list of must-haves as we view homes and some items become more crucial than others. If that happens, I'll go back through all the listings once more and trim it down to the home you've been waiting for.

Step 4 – Know the market
An agent's awareness of the Covina housing market is an essential element in your house search. And I assure you I'm acquainted with all the schools and neighborhoods, and I can alert you to some districts are "hot" and demand immediate action and the ones that are "cold" and allow for cautiousness.

As we view homes, I'll be sure to tell you if the seller's asking price has room for negotiation or if I believe the house is "priced to sell." When working with an agent, be mindful and be sure to ask a lot of questions. Every REALTOR will convince you they truly understand the housing market. If things don't add up, just call me at 6266087310 or e-mail me at , and I'd be glad to answer any questions you might have. My market expertise will keep you a step above the rest through the entire process.

Step 5 – Find the home of your dreams
I'm confident we'll find the home of your dreams in the Covina area. When we do, I'll thoroughly develop your home purchase offer. The offer will be tailored keeping your needs in mind and the home, including some contingencies, such as getting financing, carrying out the inspection, and a clean title.

When we send in your offer, you'll likely need to submit "earnest money." This is a cash deposit given to the seller to secure an offer to buy the property and is usually applied to the closing costs. If your offer is accepted by the seller, we should close about 30 to 60 days afterward. This allows plenty of time for your mortgage financing.

Step 6 – Negotiate the deal
A lot of contracts aren't closed on the initial offer. It's widely common to receive a counter offer. But don't let this alarm you. We'll discuss whether or not to accept 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. In addition, we'll work within your financing budget. And when it's all said and done, we'll put together a deal that works well for you.

Step 7 – Secure financing
Once the deal is signed, you'll start working with your lender to close the loan. This won't take very long at all if you've been pre-approved, but you'll need to stay in close contact with your mortgage lender. And I'll sort out all the property information your lender needs to close the loan.

Step 8 – Close the deal
You'll get a Loan Estimate (LE) detailing your closing costs from your mortgage lender within three days of accepting your loan application. The estimate is based on the loan amount, and RESPA requirements dictate that it has to include all closing costs and be within a precise range of accuracy. I'll study the estimate and let you know if everything looks all right.

Then we'll close on your house. This will likely take place at a title company or escrow office and will most likely be a smooth and comfortable event.

Step 9 – Move in
Congratulations! It's time to move into your new house. Enjoy it. And if you need anything or have any questions, simply contact me at 6266087310 or e-mail me at .