Buying your new home in Oakland
Purchasing a home is intimidating for many people. However, with a bit of planning ahead of time, it isn't very complex.
So they understand exactly what they can expect, I will supply buyers with a road map of the whole deal.
These are my nine steps to purchasing a home.
Should you have any questions regarding this information or if you're prepared to get started, you can contact me here or e-mail me at .
Step 1 – Prepare to purchase a home
Before you commence your home search, there are a lot of things you need to contemplate.
When you start your search, you'll want to make a checklist of features you want to have, get an idea of what neighborhoods and school districts you want to live in, and start planning around your budget.
Keeping your mortgage payment around 30 percent of your net monthly income is a good rule to follow.
Step 2 – Contact a real estate agent in Oakland
This is where I come in.
I'd love to set up a time to get together with you and talk about why you want to buy a home and get an idea of your upcoming plans.
We'll discuss the mortgage and housing industries, other economic factors that may affect your purchase today or in the future, as well as neighborhoods and school districts in the Oakland area.
I can also help you facilitate the loan process.
Thomas-Chambers Company
BRE # 01208644 works with some of Oakland's finest mortgage professionals, so you can rest assured that you're in great hands.
They'll help you choose which kind of loan is best for you, as well as help you get qualified.
Step 3 – Start your home search
After our initial meeting, I'll start finding houses on the market that are good for you.
I'll research many of the houses and remove the duds, and then we'll book appointments to tour the homes whenever it's most convenient for you.
When we view homes, I'll call attention to positive features, as well as bad ones. And I'll ask you about things you like and don't like.
For the most part, buyers update their wish list as we tour houses and some things become more necessary than others.
If such is the case, I'll go back through all the listings once again and trim it down to the house you've been dreaming about.
Step 4 – Understand the housing market
Your agent's understanding of the Oakland market is a necessary agent in your house search. And I assure you I'm acquainted with all the school districts and neighborhoods, and I can communicate which districts are "hot" and demand immediate action and others that are "cool" and allow for thoughtful consideration.
When we view homes, I'll let you know when the seller's list price has room for bargaining and when I trust the house is "priced to sell."
Any REALTOR will claim to know the home market, but be wary, and be sure to ask a lot of questions.
If it seems like they don't know everything, just call me at 5106010116 or e-mail me at , and I'll be happy to answer any questions you may have. My understanding of the market will help you stay a step ahead throughout the entire process.
Step 5 – Find the home you've been waiting for
I'm confident we'll find your dream home in the Oakland area. When that happens, I'll thoroughly develop your purchase offer. The offer will be made to fit your needs and the home. We'll include some contingencies, such as acquiring financing, carrying out the inspection, and a clear title.
When sending in your purchase offer, you'll want to submit "earnest money." This is a cash deposit given to a home seller to secure an offer to buy the property and is usually put towards the cost of closing. If the seller accepts the offer, we should close within 30 to 60 days after. This allows necessary time for your mortgage financing.
Step 6 – Negotiate
Most contracts don't close on the beginning offer. It's really common to receive a counter offer. Don't let this discourage you. We'll discuss whether or not to consent to the counter offer, propose our own counter offer, or reject the seller's offer and go on.
How aggressively we negotiate the deal depends on the state of the market.
In addition, we'll work within your financing constraints. And at the end of the day, we'll formulate a deal that works well for you.
Step 7 – Get your loan
After the deal is finished, you'll begin working with your mortgage lender to close the loan.
If you're already pre-qualified, this won't be a long process at all. However, you need to stay in close contact with your mortgage lender.
And I'll care for all the property information your mortgage lender needs to close the loan.
Step 8 – Close the deal
Your mortgage lender will supply you with a Loan Estimate (LE) detailing closing costs within three days of getting your application. You'll get a Loan Estimate (LE) detailing closing costs from your mortgage lender within three days of taking your application.
This estimate rests on the loan amount, and RESPA requirements require that it has to involve all closing costs and be within a narrow range of accuracy. I'll review the estimate and let you know if everything looks good.
Then it's time to close on your house. This should occur at a title company or escrow office and will most likely be a smooth and comfortable affair.
Step 9 – Move in
Congratulations! Now you can move into your new house. Enjoy it. And if you have any questions, simply call me at 5106010116 or e-mail me at .