If you plan to finance, getting pre-approved for a mortgage is the first step of the home buying process. Getting a pre-approval is generally a quick process and demonstrates that you are a serious buyer to both your Realtor and the person selling their home. A pre-approval may be required before you can view a home in person or put in an offer.

First, you need to know how much you are approved to purchase. Knowing how much home you can afford narrows down online home searching to suitable properties, no time is wasted considering homes that are not within your budget. Pre-approvals also help prevent disappointment caused by falling in love homes out of your range.

Your Lender will help show you a clear picture of what is financially required to buy a home. You’ll know how much money is required for the down payment and closing costs or if you qualify for any free grant down payment options. If you have credit concerns they can also help you put a plan together to increase your credit score.

I have several preferred Lenders that can help walk you through this process.

If you want to use the equity in your current home for the down payment on the next, it is possible. However, this is tricky, and all parties need to be on their game. Our team does “back to back” closings often, but all contingencies need to be completed in a timely fashion. You have to have constant communication between all parties, and organization is a must-have. Your Realtor will help walk you through this process.

Congratulations! This is an exciting time and I would be so honored for the opportunity to help you find your new home! We will set up a time to discuss your needs and learn more about what is important to you in your future home. We will then narrow down your criteria in your own personalized automatic e-alert. Our team also has access to off market opportunities that are not online. We pride ourselves in our quick response time and accessibility. The great homes sell fast and I understand how important it is to be accessible and available for you. I will work closely with you to set up showings around your schedule.

Once you have found the home that you want to make an offer on, timing is important. I use the best technology to get your purchase agreement together quickly, utilizing digital signatures that you can sign from your phone or computer. I am accessible even after traditional business hours. I will take the time to run a detailed analysis to determine what the true market value is for the home you are interested in to ensure you are offering a fair price. We will use this data to put together an action plan for your offer price and terms. In this market homes can go fast and it is not uncommon to see multiple offers. I know how to help your offer stand out. There is a lot that goes into the offer process and having an experienced Realtor on your side can help you get your dream home.

If you’re ready to make an offer on a particular home and also want to prove to the home seller that you’re serious about your offer, there’s a way to prove your commitment. This is where earnest money comes into the picture. When a buyer and seller enter into a contract, the seller takes the home off the market while the transaction moves through the entire process to closing.

Earnest deposits are typically 1%-3% of the purchase price however if your finances are tight you can offer a lower amount. The higher the deposit, the more serious you will look to the seller. As a buyer your deposit would be due within 3 days of going under contract. This deposit is typically paid to the title company and is credited back to you at closing. If the deal falls through due to a failed home inspection or any other contingencies listed in the contract the buyer typically gets their earnest money back.

Once your offer is accepted, most purchase agreements will give you a 17 day inspection period. This gives you time to do all of your due diligence. This includes ordering a home, pest, and termite inspection. Even though your excitement is at its highest, you can’t bypass one of the most important aspects of the home buying process, the inspection period. The typical cost of an inspection can range between $400-$700 depending on the square footage and features of the home, pool, etc.

Typical escrow periods are 30 to 45 days. This gives you enough time to do the investigation on the property and get your loan and appraisal completed. However, a 17-21 day close can be done in some circumstances.

The findings from an appraisal determine the amount a mortgage lender will let you borrow for the property. Appraisals must be conducted by a licensed, third-party appraiser who has no connection to the buyer, seller or lender. That way, all parties can be sure the determined market value is fair, unbiased and free of any influence from any party that could benefit. The lender usually orders the appraisal, but the borrower is the one who pays for it.

Home buyers pay little or no fees to their Realtor when buying a home. For most home sales, there are two real estate agents involved, one that represents the seller and another who represents the buyer. In California, for most transactions the home sellers take care of the Realtor fees.

I get this question a lot, because the average person knows many Realtors. It sounds nice in theory; the ability to use and help out a friend or family member with their business, however buying and selling a home is a very intimate process. Things to consider when hiring a friend or family member: Are you comfortable with them knowing your private financial situation? Would you be comfortable firing them if they didn’t perform to your liking? Would you choose to work with them if you had no relationship with them?

Keep in mind many popular home searching sites make millions of dollars off of leads. This means these sites are more likely to make homes appear for sale when they are actually sold or closed. This can be frustrating for buyers and waste your time. You’ll want to use a site that gives you direct access to the MLS with real time availability, the similar access Realtors have. My homespotter app does just that.

Yes! Never visit the model homes without your Realtor. The Sales Consultants in the office represent and work for the builder AKA the seller. Builders require that you are with your Realtor upon your first visit to the model homes. If you go in alone it is risky and if you end up buying you may be unrepresented, meaning you will have no one on your side, reviewing the legal documents and looking out for your best interests. Builders are not able to give you a better deal if you do not have a Realtor, having an experienced Realtor on your side can actually help you save money. Our team has sold many new builds and I have personally purchased one and saved 60k myself, I can walk you through each step. Please call me before visiting any model homes.

If you have been searching for a home online you may have seen ads for “discount agents”. You’ll want to beware of these tactics to get your business. There is a lot that goes into a real estate transaction, a lot of room for error and there is no substitute for having an experienced Realtor on your side. Navigating these issues takes experience. Given enough years, an experienced agent will see just about every issue you can think of. This could be the difference between a blown up deal, and one that holds together.

Oftentimes, it is more cost-efficient to buy a home rather than rent one. When you buy, you are investing in your own future. When you rent, you are helping your landlord to invest in his or her future. There also are financial perks like tax deductions and home equity that come along with owning a home. There are also low down payment and grant down payment options available.