|
Step 1 – Prepare to purchase a home
There are plenty of things you need to do prior to starting your home search. When you begin your search, you'll probably want to make a checklist of items you want, get a feel for what neighborhoods and school districts you'd like to live in, and begin planning around your budget. Keeping your mortgage payment around 1/3 of your monthly income is a good guideline to follow.
Step 2 – Get with a real estate agent in Roseville
This is where we come in. We'll schedule a time to get together so we can talk about your real estate needs and get an idea of your upcoming plans. We'll discuss the mortgage industry, other economic factors that may affect your buying decision today or in the future, as well as neighborhoods and school districts in the Greater Sacramento area.
In addition, we'll help you get started on your loan. There are some excellent mortgage professionals in Greater Sacramento, and we partner with a lot of them, so you can rest assured that you're in great hands. They will help you determine which type of loan is best for you, as well as help you get approved.
Step 3 – Begin house hunting
After our first meeting, we'll begin looking for available houses on the market that meet your needs. we'll get a sneak peek of most of the houses and exclude the bad ones, and then we'll set up appointments to view the homes at a time that's convenient for you.
As we tour houses, we'll identify good features, as well as bad ones. we'll even ask you about things you like and dislike. It's pretty common for buyers to revise their wish list as we view homes and some things become more essential than others. If such is the case, we'll go back through all the listings again and trim it down to the house of your dreams.
Step 4 – Get a feel for the market
Our understanding of the Greater Sacramento home market is an essential resource in your home search. We are familiar with all the schools and neighborhoods, and can let you know which areas are "hot" and warrant immediate action and others that are "cold" and allow for more consideration.
As we tour houses, we'll be sure to tell you if the list price has room for bargaining or if we believe the home is "priced to sell." When working with an agent, be careful and be sure to ask a lot of questions, as every REALTOR® in Greater Sacramento will convince you they comprehend the housing market. If things don't add up, contact us and we'll be glad to answer any questions you have. Our market knowledge will keep you a step ahead through the entire deal.
Step 5 – Find the home you've been waiting for
We know we'll find your dream house in Greater Sacramento. When that happens, we'll thoroughly develop your home purchase offer. The offer will be tailored with your needs in mind, including several contingencies, such as obtaining financing, carrying out the inspection, and a clean title.
 Upon presenting your offer, you'll need to submit "earnest money." This is a cash deposit made to a seller to secure the offer to purchase the property. The amount is often put towards the cost of closing. If the seller accepts the offer, we should close on the property about 30 to 60 days afterward. This allows plenty of time for your mortgage financing.
Step 6 – Negotiate
Most contracts aren't closed on the initial offer. It's really common to receive a counter offer. But don't let it alarm you. We'll discuss whether or not to accept the counter offer, propose our own counter offer, or refuse the seller's offer and move on.
How aggressively we negotiate the contract depends on market circumstances. In addition, we'll work within your financing limits. And when it's all said and done, we'll assemble a deal that's best for you.
Step 7 – Inspections & Financing
Upon completing the contract, you'll start working with your lender to close the loan. It shouldn't take long at all if you're already pre-approved, but you'll want to keep in close contact with your lender. And we'll care for all the property information your lender will need to close the loan.
Step 8 – Close the deal
Your lender will provide you with a Good Faith Estimate (GFE) detailing closing costs within three days of taking your application. You'll get a Good Faith Estimate (GFE) detailing your closing costs from your mortgage lender within three days of receiving your application. The estimate depends on the loan amount, and RESPA requirements dictate that it has to contain all closing costs and be within a narrow range of accuracy. We'll examine the estimate and let you know if everything looks all right.
Then it's time to close on your home. This will most often take place at a title company or escrow office and will probably be a smooth and hassle-free occasion.
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, make sure you contact us!.
|
