Buying a home can be stressful for a lot of people, but with a little planning ahead of time, it isn't too complex.
I like to give buyers a road map of the whole deal so they understand exactly what to expect.
These are my nine steps to buying a home.
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When you're ready to get started, just contact me here or send e-mail to steve@stevesellssandiego.com. I'm glad to address any questions you have about this information.
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Step 1 – Get ready to buy
There are plenty of things you'll want to do prior to starting your home search.
You'll want to assemble a checklist of must-have features, get a feeling for what neighborhoods and school districts you'd like to live in, and start working on your budget.
A good guideline to follow is that your mortgage payment should be less than or around a third of your net monthly income.
Step 2 – Communicate with a real estate agent in San Diego
That's where I can help.
We can set up a time to meet 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 might affect your purchase today or in the future, as well as neighborhoods and schools in the San Diego area.
In addition, I'll help you start the loan process.
Re/Max United works with some of the finest mortgage professionals in San Diego, so you'll be in great hands.
They can assist you in deciding which type of loan is best for you and help you get qualified.
Step 3 – Begin house hunting
After we meet, I'll begin finding available homes on the market that best suit you.
I'll get a sneak peek of most of the homes and reject the duds, and then we'll book appointments to tour the homes at a time that's convenient for you.
As we view the homes, I'll show you the positive features, as well as negative ones. I'll also ask you to tell us about things you like and don't like.
Oftentimes, buyers revise their must-have list as we view homes and some things become more substantial than others.
If that happens, I'll go back through all the listings another time and trim it down to the house you've been dreaming about.
Step 4 – Get a feel for the market
My knowledge of the San Diego home market is an indispensable asset in your house search. I am conscious of all the school districts and neighborhoods, and I will alert you to certain areas are "hot" and demand prompt action and others that are "cold" and allow for thoughtful analysis.
As we tour houses, I'll make sure to communicate when the asking price has room for bargaining and also when I know the home is "priced to sell."
When working with an agent, trust your instincts and make sure you ask lots of questions. Any REALTOR® will tell you they truly know the housing market.
If things don't add up, call me at 858-272-1234 or e-mail me at steve@stevesellssandiego.com, and I'd be glad to answer any questions you might have. My market expertise will help you stay a step ahead throughout the entire process.
Step 5 – Find the home you've been waiting for
We'll find your dream house in San Diego, and when we do, I'll thoroughly develop your real estate purchase offer. The offer will be tailored to suit your needs. Whenever necessary, I never forget to make contracts contingent upon items like obtaining financing and the results of the home inspection.
Upon turning in your offer, you'll need to submit "earnest money." This is a cash deposit submitted to a home seller to secure the offer to buy the property, and it's typically put towards the closing costs. If your offer is accepted by the seller, we should close within 30 to 60 days afterward. This allows plenty of time for your mortgage financing.
Step 6 – Negotiate the deal
Most deals aren't closed on the first offer, and it's very common to receive a counter offer. But don't let this discourage you. We'll figure out whether or not to accept the counter offer, present our own counter offer, or reject the seller's offer and go on.
The state of the market determines how aggressively we negotiate the deal.
We'll also work within your financing limits. And at the end of the day, we'll create a deal that's best for you.
Step 7 – Get financing
Upon completing the contract, you'll begin working with your mortgage lender to close the loan.
It shouldn't take very long at all if you're pre-qualified, but you should to stay in close contact with your lender.
And I'll care for 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 lender within three days of taking your application.
The estimate is formed from the loan amount. RESPA requirements mandate that it has to involve all closing costs and fall within a tight range of accuracy, and I'll examine the estimate and let you know if it all looks okay.
Then it's time to close on your home. This should happen at a title company or escrow office and should be a smooth and stress-free occasion.
Step 9 – Move in
Congratulations! It's time to move into your new home. Enjoy it. And if you need anything, be sure to call me at 858-272-1234 or send me an e-mail.