It seems obvious, but it's good to note that the first step to buying a home is making the decision to buy. Consider the reasons you want a new house and write them down. Determine how long you want to live in the new house. Now ask yourself if buying still makes good financial sense? Can you afford a house that will meet your list of requirements? A good rule of thumb is your mortgage payment should not exceed 1/3 of your net monthly income. I can put you in contact with our loan team at any time.
Step 2 - Seek Professional Guidance
We would like to schedule a time to meet with you to hear the reasons you want to buy a home and your plans for the future. We'll talk about neighborhoods, schools, economic factors liable to affect the market today and tomorrow, as well as how you would like your home and neighborhood to grow with you.
At this time, we will also get you pre-approved for a mortgage loan. The fact that you are pre-approved will help us when we are negotiating the deal.
Step 3 - Begin the Hunt
After our initial meeting, we'll search all our resources for homes on the market that fit your criteria. If you prefer, I'll preview these homes to eliminate the duds. Then, we'll schedule appointments to tour the homes at times convenient to you.
As we tour homes, I'll point out positive features and negative features. I'll ask you to tell me what you like and what you don't like. You'll probably amend your "wish list" as we tour homes, some things will become more important and others less important. With this new information, we'll refine our search criteria to narrow in on the home of your dreams.
Step 4 - Know the Market
Knowledge of the local market is an essential factor in the home search. I'll let you know when the market in a particular neighborhood is "hot" and requires immediate action or when the market is "cool" and allows for thoughtful consideration.
As we tour homes, I'll let you know when the asking price has negotiating room and when the home is "priced to sell". My current market knowledge will keep you a step ahead of the "house hunting competition".
In a "seller's market", it is not unusual to see multiple offers on a property, full-price offers and even above-price offers. On the flip side, during a "buyer's market" there are more homes for sale than there are buyers for those homes. This gives you more negotiating room as houses take longer to sell.
Step 5 - Find Your Dream Home
I'm confident that together we'll find your dream home. When we do, I'll put together the purchase offer tailored for your needs including appropriate contingencies (such as obtaining financing, favorable home inspection, clear title, etc.).
The offer is normally presented with "earnest money". This is a cash deposit made to a home seller to secure an offer to buy the property. The amount is applied to closing costs. If the seller accepts the offer, generally closing is held 30 to 60 days from the offer date (generally dependent on the turn around time of your mortgage financing).
Step 6 - Negotiate the Deal
It is not uncommon to receive a counter offer when the initial purchase offer is submitted. Don't let this discourage you. We will discuss the counter offer and decide whether or not to accept the counter offer, submit our own counter offer, or reject the counter offer and move on.
Market conditions will play a role in how aggressively we negotiate the deal. We will also work within your limits. Emotions can lead to buyer's remorse. It is better to set limits prior to negotiating an offer and stick to these limits.
Step 7 - Get a Loan
During the closing period, you will be working with your mortgage lender or a GoToHome loan agent to close the loan. When you are pre-approved for the loan before starting your home search, you will be that much closer to the end. I'll gather the necessary property information your lender will need to close the loan.
Step 8 - Close the Deal
Sign loan papers with escrow. Go over any last minute details. Ask any questions!
Step - Move In
Congratulations! It's time to move into your new house and make it your home. Enjoy this exciting time. We'll give you a checklist to help you remember the numerous details that will make your moving day a pleasure.
(949) 923-9906
* MOL = More or Less
California Broker LIC # 00973310
GoToHome Realty 30211 Ave de las Banderas Suite #200 Rancho Santa Margarita, CA 92688
