Let In Home Realty assist you in buying your new home in Covina
Purchasing a home can be stressful for many people. However, with a bit of up-front planning, it's not very complex.
I like to provide buyers with a road map of the entire deal so they know exactly what they can expect.
Here are my nine steps to purchasing a home.
When you're ready to get started, just contact me here or e-mail me at . I'm happy to address questions you have regarding this information.
Step 1 – Prepare to buy a home
There are many things you'll want to take into account before commencing your home search.
You'll most likely want to put together an index of must-have features, get a plan of what school districts you'd like to live in, and begin planning around your budget.
A good rule to follow is that your mortgage payment should be close to a third of your net monthly income.
Step 2 – Get in touch with a real estate agent
That's where I can help.
I'd be happy to schedule a time to get together with you and communicate with you regarding why you want to buy a home and get an idea of your upcoming plans.
We'll talk about neighborhoods, school districts in the Covina area, the mortgage and housing industries, and any other economic factors that may potentially affect your purchase today or in the future.
I'll also assist you with getting started on your loan.
I partner with some of Covina's finest mortgage professionals, so you're in great hands.
They can help you choose which type of loan is best for you, as well as help you get approved.
Step 3 – Begin looking for a home
After we meet, I'll begin searching for houses on the market that suit your needs.
I'll get a sneak peek of most of the houses and exclude the bad ones, and then we'll schedule appointments to tour the homes whenever it's most convenient for you.
When we view the homes, I'll call attention to positive features, as well as negative ones. I'll also ask you what things you like and don't like.
It's pretty common for buyers to update their must-have list as we tour homes and some features become far more substantial than others.
If that's the case, I'll search all the listings again and trim it down to the house you've been dreaming about.
Step 4 – Get a grasp of the housing market
My understanding of the Covina market is a crucial factor in your house search. I'm conscious of all the school districts and neighborhoods, and I'll communicate some areas are "hot" and warrant immediate action and others that are "cool" and allow for more analysis.
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."
Trust your instincts and be sure to ask your agent lots of questions, as any real estate agent in Covina will tell you they know the market.
If it seems like they don't know everything, just call me at 6266087310 or e-mail me at , and I'd be glad to answer any questions you have. My market expertise will help you stay a step ahead throughout the entire deal.
Step 5 – Find the home of your dreams
We'll find the house of your dreams in Covina, and when we do, I'll precisely create your purchase offer. The offer will be tailored keeping your needs in mind and the home, including many contingencies, such as obtaining financing, finishing the inspection, and a clean title.
When sending in your purchase offer, most likely you'll need to present "earnest money." This is a cash deposit given to the seller to secure the offer to purchase the property. The amount is often put towards the cost of closing. If your offer is accepted, we should close on the home within 30 to 60 days after. This allows enough time for your mortgage financing.
Step 6 – Negotiate
Unfortunately most contracts aren't closed on the first offer. It's really common to receive a counter offer. Don't let it alarm you. We'll talk over whether or not to agree to the counter offer, submit our own counter offer, or refuse the seller's offer and move on.
Market circumstances will play a vital role in how aggressively we negotiate the contract.
We'll also work within your financing constraints. And when it's all said and done, we'll assemble a deal that is best for you.
Step 7 – Get your loan
Once the deal is complete, you'll begin working with your mortgage lender to close the loan.
This shouldn't take long at all if you're already pre-approved, but you'll want to keep in close contact with your lender.
And I'll sort out all the property information your lender will need to close the loan.
Step 8 – Close the deal
Your mortgage lender will give you a Loan Estimate (LE) detailing closing costs within three days of accepting your loan application. You'll get a Loan Estimate (LE) outlining your closing costs from your mortgage lender within three days of taking your application.
This estimate depends on the loan amount, and RESPA requirements require that it has to involve all closing costs and be within a close range of accuracy. I'll analyze the estimate and let you know if everything looks good.
Then it's time to close on your house. This will probably take place at a title company or escrow office and will most often be a smooth and relaxed event.
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 .