Buying or selling a home?

For a lot of people, buying a home can be a stressful event.  However, with some up-front planning, it isn't very complicated. We like to give buyers an outline of the entire deal so they'll understand exactly what they can expect. Below are nine steps to buying a home. If you have any questions about this information or if you're ready to get started, you can contact us at (510) 601-0116 or e-mail us at

Step 1 – Prepare to purchase a home
Before you start looking for a home, there are a lot of things you'll want to take into account. When you start your search, you'll probably want to put together a check list of items you want, plan for what neighborhoods you want to live in, and start planning your budget. A good principle to follow is that your mortgage payment should be around a third of your monthly income.

Step 2 – Talk to a real estate agent in Oakland
That's where I come in. We can set up a time to meet so we can talk about your real estate needs and get an idea of your upcoming plans. We'll discuss everything from neighborhoods, schools in the Oakland area, the mortgage industry, to any other economic factors that could affect your buying decision today or in the future.

In addition, I'll assist you with getting started on your loan. I work with some of the finest mortgage professionals in Oakland, so you're in great hands. They can assist you in choosing which type of loan is best for you and help you get approved.

Step 3 – Start house-hunting
Following our initial meeting, I'll begin searching for houses on the market that are a great fit for you. I'll research most of the houses and throw out the bad ones, and then we'll set up appointments to tour the homes when it's most convenient for you.

When we view homes, I'll identify good features, as well as bad ones. I'll also ask you about things you like and dislike. Usually, buyers revise their must-have list as we view homes and some things become more essential than others. If such is the case, I'll go back through the listings again and narrow it down to the home you've been wishing for.

Step 4 – Comprehend the housing market
My understanding of the Oakland home market is a necessary element in your house search. I'm informed of all the neighborhoods and schools, and I can let you know what areas are "hot" and demand prompt action and the ones that are "cold" and allow for thoughtful examination.

As we view houses, I'll let you know when the list price has room for negotiation and when I know the house is "priced to sell." Any REALTOR will tell you they comprehend the home market, but be mindful, and make sure you ask your agent lots of questions. If it doesn't seem like they know everything, just call me at 5106010116 or e-mail me at , and I'd be more than happy to answer any questions you may have. My market expertise will keep you a step ahead through the entire process.

Step 5 – Find your dream house
I know we'll find the house of your dreams in Oakland. When we do, I'll carefully create your home purchase offer. The offer will be tailored to suit your needs and the home, including several contingencies. A few examples are obtaining financing, carrying out the inspection, and a clean title.

When we present your offer, you'll want to submit "earnest money." This is a cash deposit submitted to a seller to secure an offer to purchase the property, and it's often applied to the cost of closing. If the seller accepts your offer, we should close on the home within 30 to 60 days afterward. This allows plenty of time for your mortgage financing.

Step 6 – Negotiate the deal
Unfortunately most contracts don't close on the first offer, and it's widely common to receive a counter offer. Don't let this alarm you. We'll discuss whether or not to consent to the counter offer, present our own counter offer, or reject the seller's offer and move on.

Market circumstances determine how aggressively we negotiate the contract. We'll also work within your financing budget. And when it's all said and done, we'll compose a contract that works well for you.

Step 7 – Get financing
Once the contract is signed, you'll start working with your lender to close the loan. It shouldn't take much time at all if you're pre-qualified, but you'll want to stay in close contact with your mortgage lender. And I'll look after 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) of closing costs within three days of taking your loan application. You'll get a Loan Estimate (LE) outlining closing costs from your lender within three days of accepting your loan application. This estimate rests on the loan amount, and RESPA requirements order that it has to involve all closing costs and be within a strict range of accuracy. I'll go over the estimate and let you know if everything looks good.

Then we'll close on your house. This will most often occur at a title company or escrow office and is often a smooth and relaxing event.

Step 9 – Move in
Congratulations! It's time to move into your new house. Enjoy it. And if you need anything or have any questions, simply call me at 5106010116 or e-mail me at .

Thomas-Chambers Company
BRE # 01208644

449 W MacArthur Blvd.
Oakland, CA 94609