Buying or Selling a Home?
Purchasing a home is intimidating for many people, but it isn't very complicated with a little planning ahead of time. We like to furnish buyers with a road map of the entire deal so they'll understand exactly what they can expect. Here are my nine steps to buying a home.
Step 1 – Get ready to buy
There are plenty of things you should consider prior to beginning your home search. When you start your search, you'll probably want to put together an index of items you need to have, get a plan of what school districts you'd like to live in, and start planning your budget. Ensuring your mortgage payment is no more than 30 percent of your net monthly income is a good principle to go by.
That's where we can help. We can plan 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.
Step 3 – Begin your home search
Following our first meeting, we'll begin looking for homes on the market that suit your needs.
As we tour the houses, we'll point out positive features and bad ones. And we'll ask you what things you like and don't like. It's pretty common for buyers to change their wish list as we tour homes and some features become far more substantial than others.
Step 4 – Understand the housing market
Our market knowledge will help you stay a step above the rest throughout the entire deal.
Step 5 – Find the home you've been looking for
We're certain we'll find the house of your dreams in the Sacramento area, and when that happens, we'll thoroughly create your real estate purchase offer. Whenever necessary, we never forget to make contracts contingent upon items like acquiring financing and the results of the home inspection.
When we present your purchase offer, you'll need to submit "earnest money." This is a cash deposit made to a seller to secure an offer to buy the property and is often applied to the closing costs. If your offer is accepted by the seller, we should close about 30 to 60 days afterward. This allows plenty of time for your mortgage financing.
Step 6 – Negotiate the deal
Unfortunately most deals don't close on the first offer. It's widely common to receive a counter offer. Don't let this alarm you.
Market circumstances determine how aggressively you negotiate the deal. We'll also work within your budget.
Step 7 – Secure financing
Once you sign the final contract, you'll start working with your lender to close the loan. If you're pre-approved, it shouldn't take long at all, but you'll want to keep in close contact with your mortgage lender.
Step 8 – Close the deal
Your mortgage lender will give you a Good Faith Estimate (GFE) outlining closing costs within three days of taking your application. You'll get a Good Faith Estimate (GFE) outlining closing costs from your lender within three days of receiving your application. This estimate is based on the loan amount.
Then it's time to close on your house. This will most likely take place at a title company or escrow office and will most often be a smooth and hassle-free occurrence.
Step 9 – Move in
You made it! Now you can move into your new house. Enjoy it. And if you need anything or have any questions, make sure you contact use at 916-485-1940 or send me an e-mail.
We will continue to promote fair competition for the benefit of all consumers as lower commissions keeps more of a homeowner's hard earned equity in their pockets.
Looking to Sell
Mobile device users can receive market comparables by simply emailing us your Name, Phone#, and Property Address.