For many people, buying a home is a stressful event. However, with a little up-front planning, it isn't all that hard.
I like to give buyers an outline of the entire deal so they know exactly what to expect.
These are my nine steps to purchasing a home.
Step 1 – Prepare to purchase a home
There are plenty of things you should do before you start looking for a home.
It's likely that you'll want to assemble a check list of features you want to have, plan for what neighborhoods and school districts you'd like to live in, and start planning around your budget.
Keeping your mortgage payment less than 30 percent of your monthly income is a good rule to adhere to.
Step 2 – Speak with a real estate agent in Huntington Beach
That's where I can help.
I'd like to set up a time to meet with you and communicate with you regarding your real estate needs and get an idea of your future plans.
We'll discuss everything from neighborhoods, schools in the Huntington Beach area, the mortgage industry, to any other economic factors that could affect your purchase today or in the future.
I'll also help you facilitate the loan process.
There are some excellent mortgage professionals in Huntington Beach, and I work with a lot of them, so you're in great hands.
They will help you determine which type of loan is best for you, as well as help you get qualified.
Step 3 – Start looking for a house
After our first meeting, I'll begin looking for homes on the market that meet your needs.
I'll preview many of the homes and reject the bad ones, and then we'll set up appointments to tour the houses whenever it's most convenient for you.
When we view the homes, I'll show you the good features and negative ones. I'll even ask you what things you like and dislike.
Usually, buyers amend their list of must-haves as we tour homes and some features become more necessary than others.
If that's the case, I'll go back through the listings once more and trim it down to the home you've been waiting for.
Step 4 – Know the market
Your agent's awareness of the Huntington Beach home market is a crucial agent in your home search. And I can assure you I'm conscious of all the neighborhoods and school districts, and I'll alert you to what districts are "hot" and demand immediate action and others that are "cold" and allow for more consideration.
When we tour houses, I'll make sure to communicate if the seller's list price has room for negotiation or if I believe the home is "priced to sell."
Be on guard and be sure to ask your agent a lot of questions, as every REALTOR® in Huntington Beach will convince you they truly know the home market.
If things don't add up, call me at (714) 475-3033 or e-mail me at , and I'd be happy to answer your questions. My market knowledge will help you stay a step ahead through the entire deal.
Step 5 – Find the home you've been waiting for
I'm sure we'll find your dream house in Huntington Beach. When we do, I'll thoroughly create your purchase offer. The offer will be tailored with your needs in mind, including several contingencies. A few examples are acquiring financing, carrying out the home inspection, and a clean title.
When we send in 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 typically applied to the closing costs. If the offer is accepted, we should close on the home within 30 to 60 days afterward. This allows necessary time for your mortgage financing.
Step 6 – Negotiate the deal
Unfortunately most deals aren't closed on the initial offer, and it's very common to receive a counter offer. But don't let this alarm you. We'll consider whether or not to accept the counter offer, submit our own counter offer, or refuse the seller's offer and move on.
Market conditions will play a big part in how aggressively we negotiate the contract.
In addition, we'll work within your financing budget. And when it's all said and done, we'll create a deal that is best for you.
Step 7 – Obtain a loan
Once we sign the final sales contract, you'll start working with your lender to close the loan.
If you're pre-qualified, this won't take very long at all, but you'll want to stay in close contact with your lender.
And I'll handle all the property information your lender needs to close the loan.
Step 8 – Close the deal
You'll get a Good Faith Estimate (GFE) detailing your closing costs from your lender within three days of taking your loan application.
The estimate is formed from the loan amount, and RESPA requirements dictate that it has to include all closing costs and be within a narrow range of accuracy. I'll examine the estimate and let you know if everything looks good.
Then we'll close on your house. This will most likely take place at a title company or escrow office and is often a smooth and hassle-free occurrence.
Step 9 – Move in
Success! It's time to move into your new home. Enjoy it. And if you need anything or have any questions, be sure to call me at (714) 475-3033 or send me an e-mail.
