Buying or selling a home in Covina?

Buying a home is intimidating for a lot of people, but it isn't all that complicated with a bit of up-front planning. So they'll understand exactly what they can expect, I like to provide buyers with a road map of the entire deal. Below are my nine steps to purchasing a home. Should you have any questions regarding any of this information or if you're ready to get started, simply contact me here or e-mail me at .

Step 1 – Get ready to purchase a home
There are plenty of things you should consider before you start looking for a home. When you start your search, you'll probably want to assemble a check list of must-haves, plan for what neighborhoods you want to live in, and start planning around your budget. Keeping your mortgage payment less than 1/3 of your monthly income is a good guideline to go by.

Step 2 – Contact a real estate agent
This is where I can help. We'll arrange a time to meet so we can talk about why you want to buy a home and get an idea of your upcoming plans. We'll discuss neighborhoods, schools in the Covina area, the mortgage industry, and any other economic factors that may affect your purchase today or in the future.

I can also assist you with getting started on your loan. I work with some of Covina's best mortgage professionals, so you're in great hands. They will assist you in determining which kind of loan is best for you and help you get approved.

Step 3 – Start looking
After our initial meeting, I'll start looking for houses on the market that are great for you. I'll preview most of the homes and throw out the bad ones, and then we'll schedule appointments to tour the homes whenever it's most convenient for you.

As we view the houses, I'll call attention to good features and negative ones. And I'll ask you to point out what things you like and don't like. As a rule, buyers change their wish list as we tour homes and some items become far more crucial than others. If such is the case, I'll search the listings one more time and narrow it down to the house you've been dreaming about.

Step 4 – Know the market
My understanding of the Covina market is a necessary factor in your house search. I'm acquainted with all the schools and neighborhoods, and I will let you know which areas are "hot" and call for prompt action and the ones that are "cool" and allow for careful consideration.

As we tour houses, I'll make sure to communicate if the seller's list price has room for bargaining or if I believe the house is "priced to sell." Any REALTOR will tell you they comprehend the home market, but be on guard, and make sure you ask your agent plenty of questions. If things don't add up, call me at (626) 608-7310 or e-mail me at , and I'd be more than happy to answer your questions. My market knowledge will keep you a step ahead throughout the entire process.

Step 5 – Find the house of your dreams
We'll find the house of your dreams in Covina, and when we do, I'll carefully create your purchase offer. The offer will be tailored exactly to your needs and the home, including several contingencies, such as obtaining financing, completing the home inspection, and a clean title.

When we present your offer, you'll need to present "earnest money." This is a cash deposit made to a home seller to secure the offer to purchase the property and is most often put towards the cost of closing. If the offer is accepted by the seller, we should close on the property within 30 to 60 days afterward. This allows necessary time for your mortgage financing.

Step 6 – Negotiate the deal
Most contracts don't close on the initial offer – it's very common to receive a counter offer. Don't let this alarm you. We'll discuss whether or not to accept the counter offer, present our own counter offer, or reject the seller's offer and move on.

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

Step 7 – Obtain a loan
After we sign the final sales contract, you'll begin working with your lender to close the loan. If you've been pre-approved, this shouldn't be a long process at all, but you should to stay in close contact with your lender. And I'll look after all the property information your lender will need to close the loan.

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

Then we'll close on your home. This will likely happen at a title company or escrow office and will likely be a smooth and relaxing occasion.

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

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