Let Toni Williams assist you in purchasing your home in California
With a little up-front planning, buying a home isn't too confusing, but the event intimidates a lot of people. So you know exactly what to expect, I like to furnish my buyers with an outline of the whole deal. Below are my nine steps to purchasing a home.
Step 1 – Get ready to buy a home
There are plenty of things you need to consider before commencing your home search. You'll want to form a checklist of features you need, plan for what neighborhoods and school districts you'd like to live in, and start planning your budget. Keeping your mortgage payment around 30 percent of your net monthly income is a good guideline to follow.
Step 2 – Contact a real estate agent in California
That's where I can help. I'd like to plan a time to get together with you and communicate with you about why you want to buy a home and get an idea of your plans for the future. We'll talk about the mortgage industry, other economic factors that could potentially affect your purchase today or in the future, as well as neighborhoods and school districts in California.
I'll also help you start the loan process. There are some great mortgage professionals in California, and I partner with a lot of them, so you're in great hands. They'll assist you in choosing which kind of loan is best for you and help you get qualified.
Step 3 – Begin your home search
After our initial meeting, I'll begin finding available houses on the market that are a good fit for you. I'll preview most of the houses and remove the duds, and then we'll book appointments to tour the houses whenever it's convenient for you.
As we tour the houses, I'll identify positive features, as well as bad ones. I'll even ask you to talk about things you like and don't like. It's widely common for buyers to change their wish list as we view houses and some items become more essential than others. If such is the case, I'll look through all the listings one more time and trim it down to the house you've been waiting for.
Step 4 – Get a grasp of the market
An agent's understanding of the California home market is a crucial element in your home search. And I can assure you I'm familiar with all the school districts and neighborhoods, and I will alert you to some districts are "hot" and call for prompt action and the others that are "cool" and allow for more consideration.
As we tour homes, I'll be sure to tell you when the list price has room for negotiation and when I think the house is "priced to sell." When working with an agent, be careful and make sure you ask a lot of questions. Any REALTOR® will convince you they comprehend the housing market. If it seems like they don't know everything, call me at 916-337-3743 or e-mail me at firstname.lastname@example.org, and I'll be happy to answer your questions. My market knowledge will keep you a step above the rest throughout the entire process.
Step 5 – Find the home of your dreams
I'm positive we'll find your dream home in California, and when we do, I'll precisely create your purchase offer. The offer will be written keeping your needs in mind. Whenever necessary, I 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 probably need to submit "earnest money." This is a cash deposit given to a seller to secure an offer to purchase the property. The amount is usually put towards the cost of closing. If the seller accepts the offer, we should close on the home within 30 to 60 days after. This allows enough time for your mortgage financing.
Step 6 – Negotiate
A lot of contracts aren't closed on the first offer. It's very common to receive a counter offer. Don't let this intimidate you. We'll consider whether or not to agree to the counter offer, propose our own counter offer, or reject the seller's offer and move on.
Market conditions will play a role in how aggressively we negotiate the deal. We'll also work within your budget. And at the end of the day, we'll put together a deal that works well for you.
Step 7 – Get your loan
Once we sign the final deal, you'll begin working with your lender to close the loan. It shouldn't take much time at all if you've been pre-approved, but you'll want to keep in close contact with your mortgage lender. And I'll manage all the property information your mortgage lender will need 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 getting your loan application. This estimate rests on the loan amount, and RESPA requirements dictate that it has to involve all closing costs and be within a tight range of accuracy. I'll review the estimate and let you know if it all looks permissible.
Then we'll close on your home. This will most often take place at a title company or escrow office and will likely be a smooth and hassle-free occurrence.
Step 9 – Move in
Congratulations! It's time to move into your new house. Enjoy it. And if you need anything or have any questions, simply call me at 916-337-3743 or send me an e-mail.