Purchasing your home in Covina

Purchasing a home is a stressful event for most people. However, with a little planning ahead of time, it isn't that complicated. So they know exactly what they can expect, I like to give buyers a road map of the whole deal. Here are my nine steps to buying a home. When you're ready to get started, simply contact me here or e-mail me at . I'm happy to answer questions you have about this information.

Step 1 – Get ready to buy
There are many things you need to take into account prior to starting your home search. You'll most likely want to make an outline of items you need, plan for what neighborhoods you'd like to live in, and begin planning around your budget. A good guideline to go by is that your mortgage payment should be less than or close to 1/3 of your monthly income.

Step 2 – Contact a real estate agent in Covina
This is where I come in. We can book 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 talk about neighborhoods, schools in the Covina area, the mortgage industry, and any additional economic factors that could potentially affect your buying decision today or in the future.

I can also help you start the loan process. In Home Realty partners with some of Covina's finest mortgage professionals, so you'll be in great hands. They will assist you in deciding which kind of loan is best for you and help you get approved.

Step 3 – Start your search
After our first meeting, I'll begin searching for homes on the market that suit your needs. I'll get a sneak peek of most of the houses and ignore the duds, and then we'll book appointments to view the homes whenever it's convenient for you.

When we tour homes, I'll point out good features and negative ones. I'll also ask you to talk about things you like and don't like. It's pretty common for buyers to revise their list of must-haves as we tour homes and some things become far more important than others. If that's the situation, I'll search the listings once more and narrow it down to the home you've been wishing for.

Step 4 – Understand the housing market
My understanding of the Covina housing market is a fundamental element in your home search. I'm familiar with all the neighborhoods and school districts, and I'll alert you to some districts are "hot" and call for prompt action and the ones that are "cold" and allow for more examination.

When we tour houses, I'll let you know if the seller's asking price has room for negotiation or if I believe the home is "priced to sell." Any real estate agent in Covina will convince you they truly know the home market, but take note, and make sure you ask a lot of questions. If it appears they don't know everything, contact me at 6266087310 or e-mail me at , and I'll be happy to answer your questions. My market knowledge will help you stay a step above the rest throughout the entire process.

Step 5 – Find the home you've been waiting for
We'll find your dream home in the Covina area, and when we do, I'll meticulously create your real estate purchase offer. The offer will be tailored with your needs in mind and the home, including some contingencies. A few examples are obtaining financing, finishing the home inspection, and a clean title.

When we send in your purchase offer, you'll want to submit "earnest money." This is a cash deposit submitted to a seller to secure an offer to purchase the property. The amount is usually put towards 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
A lot of deals aren't closed on the first offer. It's pretty common to receive a counter offer. But don't let it discourage you. We'll talk about whether or not to accept the counter offer, submit our own counter offer, or reject the seller's offer and go on.

Market conditions will play a big part in how aggressively we negotiate the deal. We'll also work within your budget. And when it's all said and done, we'll assemble a contract that's best for you.

Step 7 – Secure a loan
Upon finishing the contract, you'll begin working with your mortgage lender to close the loan. If you're already pre-qualified, this won't take very long at all, but you'll want to stay in close contact with your mortgage lender. And I'll take care of all the property information your mortgage lender needs 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 getting your loan application. The estimate is based on the loan amount, and RESPA requirements mandate that it has to include all closing costs and fall within a close range of accuracy. I'll study the estimate and let you know if it all looks good.

Then we'll close on your home. This will probably occur at a title company or escrow office and is often a smooth and comfortable affair.

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