Contemplating buying your new home in Point Reyes Station?
Buying a home is an intimidating event for a lot of people, but with some up-front planning, it isn't all that difficult.
So they'll understand exactly what they can expect, I will give buyers a road map of the entire deal.
These are my nine steps to purchasing a home.
Should you have any questions regarding any of this information or if you're prepared to get started, you can contact me here or e-mail me at .
Step 1 – Prepare to purchase
There are several things you need to take into account before beginning your home search.
When you begin your search, you'll probably want to create an index of must-haves, get a feeling for what neighborhoods and school districts you'd like to live in, and start planning your budget.
A good principle to go by is that your mortgage payment should be close to a third of your net monthly income.
Step 2 – Communicate with a real estate agent in Point Reyes Station
This is where I come in.
I'd be happy to plan a time to meet with you and speak 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 Point Reyes Station area, the mortgage industry, and any additional economic factors that could affect your buying decision today or in the future.
I can also help you facilitate the loan process.
I work with some of the best mortgage professionals in Point Reyes Station, so you can rest assured that you're in great hands.
They can assist you with determining which kind of loan is best for you and help you get approved.
Step 3 – Begin your search
Following our first meeting, I'll start searching for available houses on the market that meet your needs.
I'll research most of the houses and eliminate the bad ones, and then we'll book appointments to tour the homes at a time that's convenient for you.
As we tour houses, I'll identify good features, as well as negative ones. And I'll ask you to talk about things you like and dislike.
Most often, buyers amend their wish list as we tour homes and some things become more important than others.
If that happens, I'll search the listings another time and trim it down to the house you've been dreaming about.
Step 4 – Know the housing market
My understanding of the Point Reyes Station home market is a crucial component in your house search. I'm informed of all the school districts and neighborhoods, and I can communicate certain neighborhoods are "hot" and require immediate action and some that are "cold" and allow for cautiousness.
As we tour houses, I'll let you know if the seller's asking price has room for bargaining or if I believe the home is "priced to sell."
Any real estate agent will convince you they comprehend the housing market, but take notice, and be sure to ask your agent a lot of questions.
If it doesn't seem like they know everything, just call me at 4156638281 or e-mail me at , and I'll be more than happy to answer any questions you may have. My understanding of the market will keep you a step above the rest throughout the entire process.
Step 5 – Find your dream house
I know we'll find your dream house in Point Reyes Station. When we do, I'll precisely develop your home purchase offer. The offer will be tailored with your needs in mind and the home, including several contingencies, such as obtaining financing, carrying out the home inspection, and a clear title.
When presenting your purchase offer, you'll likely need to submit "earnest money." This is a cash deposit submitted to a seller to secure an offer to buy the property and is often applied to the cost of closing. If your offer is accepted, we should close on the property within 30 to 60 days after. This allows ample time for your mortgage financing.
Step 6 – Negotiate the deal
Unfortunately most contracts don't close on the first offer. It's pretty common to receive a counter offer. But don't let it discourage you. We'll talk over whether or not to accept the counter offer, submit our own counter offer, or reject the seller's offer and move on.
The state of the market will play a role in how aggressively we negotiate the deal.
In addition, we'll work within your financing constraints. And at the end of the day, we'll compose a deal that's best for you.
Step 7 – Get financing
Once we sign the final contract, you'll begin working with your lender to close the loan.
If you're already pre-approved, this shouldn't take very long at all, but you should to stay in close contact with your lender.
And I'll manage all the property information your mortgage lender needs to close the loan.
Step 8 – Close the deal
You'll get a Loan Estimate (LE) outlining closing costs from your lender within three days of accepting your application.
The estimate is based on the loan amount, and RESPA requirements order that it has to include all closing costs and fall within a tight range of accuracy. I'll examine the estimate and let you know if everything looks adequate.
Then it's time to close on your house. This will probably happen at a title company or escrow office and will most likely be a smooth and calm occasion.
Step 9 – Move in
Congratulations! Now you can move into your new home. Enjoy it. And if you need anything, just contact me at 4156638281 or e-mail me at .