Buying or selling a home?

With some planning ahead of time, purchasing a home isn't very confusing, but the event is intimidating for many people. I like to furnish buyers with an outline of the entire deal so they'll understand exactly what to expect. Here are my nine steps to buying a home. Should you have questions regarding this information or if you're ready to get started, you can contact me here or e-mail me at .

Step 1 – Prepare to buy a home
There are many things you should take into account prior to starting your home search. When you begin your search, you'll want to create a check list of features you need to have, get an idea of what neighborhoods you want to live in, and start working on your budget. Keeping your mortgage payment less than or around 1/3 of your net monthly income is a good rule of thumb to go by.

Step 2 – Communicate with a real estate agent
This is where In Home Realty comes in. I'd be happy to set up a time to meet with you and speak with you about why you want to buy a home and get an idea of your plans for the future. We'll talk about neighborhoods, school districts in the Covina area, the mortgage industry, and any other economic factors that might affect your buying decision today or in the future.

In addition, I'll help you facilitate 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'll assist you in choosing which type of loan is best for you and help you get qualified.

Step 3 – Begin house hunting
After our initial meeting, I'll start finding available homes on the market that are great for you. I'll research most of the houses and remove the bad ones, and then we'll schedule appointments to view the homes whenever it's most convenient for you.

As we tour the homes, I'll show you the positive features, as well as negative ones. And I'll ask you what things you like and don't like. Most often, buyers amend their wish list as we view homes and some items become far more essential than others. If that happens, I'll go back through all the listings once again and narrow it down to the house of your dreams.

Step 4 – Understand the housing market
My knowledge of the Covina market is an essential aspect in your home search. I'm mindful of all the neighborhoods and schools, and I can let you know what districts are "hot" and demand prompt action and others that are "cold" and allow for more analysis.

As we tour homes, I'll make sure to communicate when the asking price has room for negotiation and when I know the house is "priced to sell." Be on guard and make sure you ask your agent plenty of questions, as any REALTOR in Covina will tell you they understand the housing market. If things don't add up, contact me at 6266087310 or e-mail me at , and I'd be glad to answer your questions. My knowledge of the market will help you stay a step ahead throughout the entire process.

Step 5 – Find the house you've been looking for
We'll find the home of your dreams in Covina, and when that happens, I'll meticulously develop your purchase offer. The offer will be made to fit your needs and the home. We'll include many contingencies, such as obtaining financing, completing the inspection, and a clean title.

Upon sending in your purchase offer, most likely you'll need to submit "earnest money." This is a cash deposit given to a seller to secure an offer to purchase the property and is usually applied to the closing costs. If the offer is accepted, we should close on the home within 30 to 60 days afterward. This allows ample time for your mortgage financing.

Step 6 – Negotiate
Most contracts don't close on the first offer – it's very common to receive a counter offer. But don't let this discourage you. We'll discuss whether or not to accept the counter offer, submit our own counter offer, or refuse the seller's offer and go on.

How aggressively we negotiate the deal depends on market conditions. In addition, we'll work within your financing constraints. And when it's all said and done, we'll formulate a contract that's best for you.

Step 7 – Obtain financing
Once the contract is finished, you'll begin working with your lender to close the loan. It won't be a long process at all if you're already pre-approved, but you should to stay in close contact with your lender. And I'll take care of all the property information your 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 receiving your loan application. The estimate depends on the loan amount, and RESPA requirements dictate that it has to contain all closing costs and be within a tight range of accuracy. I'll analyze the estimate and let you know if everything looks permissible.

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 hassle-free affair.

Step 9 – Move in
Congratulations! Now you can move into your new home. Enjoy it. And if you need anything, simply contact me at 6266087310 or e-mail me at .