Buying or Selling a home?
Buying a home is intimidating for a lot of people, but it isn't very complex with a little planning ahead of time. We like to provide buyers with an overview of the entire deal so they understand exactly what to expect. Here are our nine steps to purchasing a home.
If you have any questions about any of this information or if you're prepared to get started, just contact us here or send e-mail to firstname.lastname@example.org
Step 1 – Get ready to purchase
Before you start searching for a home, there are a lot of things you need to contemplate. You'll probably want to create a check list of must-haves, get a plan of what neighborhoods you'd like to live in, and begin working on your budget. A good rule to follow is that your mortgage payment should be no more than 1/3 of your net monthly income.
Step 2 – Get with a real estate agent
That's where we can help. We'll arrange 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. We'll discuss neighborhoods, schools in the Palm Springs area, the mortgage and housing industries, and any additional economic factors that may affect your purchase today or in the future.
We'll also help you facilitate the loan process. We partner with some of Palm Springs's finest mortgage professionals, so you're in great hands. They'll help you figure out which kind of loan is best for you, as well as help you get qualified.
Step 3 – Begin looking for a home
After our first meeting, we'll start searching for available houses on the market that meet your needs. We'll preview many of the homes and exclude the bad ones, and then we'll schedule appointments to view the houses when it's convenient for you.
As we tour homes, we'll call attention to good features and bad ones. we'll also ask you to point out what things you like and dislike. Most often, buyers amend their wish list as we tour homes and some items become far more important than others. If that's the situation, we'll go back through the listings once again and trim it down to the house you've been wishing for.
Step 4 – Get a feel for the housing market
Our awareness of the Palm Springs housing market is a valuable benefit in your house search. We are mindful of all the schools and neighborhoods, and we'll will let you know which areas are "hot" and warrant immediate action and the rest that are "cool" and allow for thoughtful examination.
When we tour houses, we'll let you know if the seller's list price has room for negotiation or if I believe the house is "priced to sell." When working with an agent, trust your instincts and make sure you ask lots of questions. Any real estate agent in Palm Springs will claim to truly understand the home market. If it seems like they don't know everything, contact us at (760) 328-3381 or e-mail us at email@example.com, and we'd be happy to answer your questions. Our market knowledge will keep you a step above the rest through the entire deal.
Step 5 – Find the house you've been looking for
We're confident we'll find the house of your dreams in the Palm Springs area. When that happens, we'll meticulously develop your home purchase offer. The offer will be tailored to suit your needs, including a lot of contingencies, such as acquiring financing, carrying out the inspection, and a clean title.
When we send in your purchase offer, most likely you'll want to submit "earnest money." This is a cash deposit submitted to a home seller to secure an offer to buy the property. The amount is typically put towards the cost of closing. If the seller accepts the offer, we should close on the home about 30 to 60 days afterward. This allows plenty of time for your mortgage financing.
Step 6 – Negotiate the deal
Most deals don't close on the first offer. It's very common to receive a counter offer. Don't let this discourage you. We'll talk about whether or not to take the counter offer, present our own counter offer, or decline the seller's offer and move on.
How aggressively we negotiate the deal depends on market conditions. In addition, we'll work within your budget. And when it's all said and done, we'll create a contract that is best for you.
Step 7 – Obtain a loan
After we sign the final contract, you'll begin working with your mortgage lender to close the loan. If you've been pre-qualified, it won't be a long process at all, but you need to keep in close contact with your lender. And we'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) detailing your closing costs from your mortgage lender within three days of getting your loan application. The estimate depends on the loan amount. RESPA requirements dictate that it has to contain all closing costs and be within a tight range of accuracy, and we'll examine the estimate and let you know if it all looks good.
Then we'll close on your home. This will probably take place at a title company or escrow office and will probably be a smooth and pleasant affair.
Step 9 – Move in
Congratulations! It's time to move into your new house. Enjoy it. And if you have any questions, simply call us at (760) 328-3381 or send us an e-mail.