Are you contemplating buying a home in Vacaville?
With a little planning ahead of time, purchasing a home isn't all that confusing, but the event is intimidating for many people. So you know exactly what to expect, I like to supply my buyers with an overview of the whole deal. These are my nine steps to purchasing a home.
Step 1 – Prepare to purchase a home
There are several things you should consider before you start searching for a home. You'll want to form a check list of features you need, get a plan of what school districts and neighborhoods you'd like to live in, and start planning around your budget. Keeping your mortgage payment less than or close to a third of your monthly income is a good rule of thumb to go by.
Step 2 – Get in touch with a real estate agent in Vacaville
This is where I can help. I can book a time to meet so we can talk about why you want to buy a home and get an idea of your future plans. We'll talk about everything from neighborhoods, schools in the Vacaville area, the mortgage and housing industries, to any other economic factors that might affect your purchase today or in the future.
I can also assist you with getting started on your loan. There are some excellent mortgage professionals in Vacaville, and I work with a lot of them, so you'll be in great hands. They can assist you with determining which type of loan is best for you and help you get qualified.
Step 3 – Start looking
Following our first meeting, I'll start looking for houses on the market that are good for you. I'll preview many of the houses and throw out the bad ones, and then we'll set up appointments to view the homes at a time that's convenient for you.
As we view the houses, I'll point out positive features and bad ones. I'll even ask you to talk about things you like and dislike. It's common for buyers to update their wish list as we view houses and some features become far more crucial than others. If that's the situation, I'll search all the listings once more and trim it down to the house you've been dreaming about.
Step 4 – Know the housing market
My knowledge of the Vacaville market is an indispensable resource in your house search. I am familiar with all the school districts and neighborhoods, and I will communicate what areas are "hot" and call for immediate action and the others that are "cold" and allow for more consideration.
When we tour houses, I'll let you know if the seller's asking price has room for bargaining or if I believe the home is "priced to sell." When working with an agent, be careful and make sure you ask a lot of questions. Any REALTOR® in Vacaville will tell you they comprehend the housing market. If it seems like they don't know everything, call me at 7074106634 or e-mail me at firstname.lastname@example.org, and I'll be more than happy to answer any questions you have. My market knowledge will keep you a step above the rest through the entire deal.
Step 5 – Find the house you've been looking for
I'm certain we'll find the home of your dreams in the Vacaville area. When that happens, I'll carefully develop your home purchase offer. The offer will be tailored keeping your needs in mind, including many contingencies. A few examples are getting financing, carrying out the inspection, and a clean title.
When submitting your purchase offer, you'll want to present "earnest money." This is a cash deposit made to a seller to secure the offer to purchase the property, and it's typically applied to the closing costs. If your offer is accepted, we should close on the home about 30 to 60 days after. This allows plenty of time for your mortgage financing.
Step 6 – Negotiate
A lot of deals aren't closed on the initial offer – it's pretty common to receive a counter offer. Don't let this discourage you. We'll talk over whether or not to consent to the counter offer, present our own counter offer, or reject the seller's offer and move on.
Market conditions determine how aggressively we negotiate the contract. We'll also work within your budget. And at the end of the day, we'll put together a contract that works well for you.
Step 7 – Get a loan
After the contract is signed, you'll begin working with your lender to close the loan. If you're pre-approved, this shouldn't take very long at all. But you'll want to stay in close contact with your lender. And I'll handle all the property information your mortgage lender will need to close the loan.>
You'll get a Good Faith Estimate (GFE) of closing costs from your mortgage lender within three days of taking your application. This estimate is formed from the loan amount. RESPA requirements dictate that it has to contain all closing costs and fall within a narrow range of accuracy, and I'll examine the estimate and let you know if everything looks permissible.
Then it's time to close on your home. This will most likely happen at a title company or escrow office and will most often be a smooth and hassle-free occurrence.
Step 9 – Move in
Congratulations! It's time to move into your new home. Enjoy it. And if you have any questions, simply contact me at 7074106634 or send me an e-mail.