For most people, buying a home is a stressful event. However, with some planning ahead of time, it's not very difficult. I like to supply buyers with a road map of the whole deal so they understand exactly what to expect. Here are my nine steps to buying a home.
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When you're ready to get started, simply contact me here or send e-mail to carriestine@yahoo.com . I'm glad to address questions you have regarding this information. |
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Step 1 – Get ready to purchase
Before you begin looking for a home, there are many things you should consider. When you begin your search, you'll want to assemble a checklist of features you need, get an idea of what school districts you want to live in, and start working on your budget. Ensuring your mortgage payment is less than 30 percent of your monthly income is a good guideline to adhere to.
Step 2 – Contact a real estate agent
That's where I come in. I'd like to schedule a time to get together with you and speak with you about your real estate needs and get an idea of your upcoming plans. We'll discuss neighborhoods, school districts in the Sebastopol area, the mortgage industry, and any other economic factors that may potentially affect your purchase today or in the future.
In addition, I'll help you begin the loan process. CPS Real Estate works with some of the finest mortgage professionals in the Sonoma County, so you can rest assured that you're in great hands. They'll assist you with determining which kind of loan is best for you and help you get approved.
Step 3 – Start looking for a house
After our first meeting, I'll start searching for homes on the market that are great for you. I'll preview many of the houses and eliminate the bad ones, and then we'll book appointments to tour the houses when it's most convenient for you.
When we view houses, I'll show you the positive features and negative ones. I'll also ask you to point out what things you like and dislike. It's widely common for buyers to change their wish list as we view houses and some items become more important than others. If that's the case, I'll go back through all the listings once again and narrow it down to the house you've been waiting for.
Step 4 – Understand the housing market
An agent's knowledge of the Sonoma County market is a crucial aspect in your house search. And I can assure you I'm familiar with all the neighborhoods and school districts, and I'll alert you to which districts are "hot" and warrant prompt action and others that are "cold" and allow for thoughtful analysis.
When we view homes, I'll make sure to communicate when the list price has room for negotiation and also when I trust the house is "priced to sell." When working with an agent, be mindful and be sure to ask plenty of questions, as any REALTOR® in Sebastopol will tell you they truly understand the market. If it doesn't seem like they know everything, just call me at 707 355-1616 or e-mail me at carriestine@yahoo.com , and I'll be glad to answer any questions you have. My understanding of the market will keep you a step ahead through the entire process.
Step 5 – Find the home you've been looking for
I'm sure we'll find your dream house in Sonoma County. When we do, I'll meticulously develop your real estate purchase offer. The offer will be tailored with your needs in mind, including many contingencies. A few examples are getting financing, finishing the home inspection, and a clean title.
Upon submitting your offer, you'll want to submit "earnest money." This is a cash deposit made to a seller to secure the offer to purchase the property, and it's most often put towards the closing costs. If the offer is accepted by the seller, we should close on the home about 30 to 60 days after. This allows necessary time for your mortgage financing.
Step 6 – Negotiate the deal
Unfortunately most deals don't close on the beginning offer. It's extremely common to receive a counter offer. Don't let it discourage you. We'll talk about whether or not to agree to the counter offer, submit our own counter offer, or refuse the seller's offer and go on.
How aggressively we negotiate the contract depends on the state of the market. In addition, we'll work within your financing limits. And when it's all said and done, we'll put together a contract that is best for you.
Step 7 – Get financing
After the deal is finalized, you'll start working with your mortgage lender to close the loan. If you've been pre-qualified, it shouldn't take much time at all. However, you need to stay in close contact with your lender. And I'll look after all the property information your lender needs to close the loan.
Step 8 – Close the deal
You'll get a Good Faith Estimate (GFE) of closing costs from your mortgage lender within three days of accepting your application. The estimate is formed from the loan amount. RESPA requirements mandate that it has to include all closing costs and be within a narrow range of accuracy, and I'll analyze the estimate and let you know if it all looks good.
Then we'll close on your home. This should occur at a title company or escrow office and will most likely be a smooth and hassle-free occurrence.
Step 9 – Move in
Success! Now you can move into your new home. Enjoy it. And if you need anything, simply call me at 707 355-1616 or send me an e-mail.
