Purchasing a new home in Oakland with Thomas-Chambers Company
BRE # 01208644

Buying a home is an intimidating event for a lot of people. However, with some planning ahead of time, it's not too confusing. I like to supply buyers with an outline of the entire deal so they understand exactly what they can expect. Below are my nine steps to purchasing a home. When you're ready to get started, you can contact me here or e-mail me at . I'm happy to answer any questions you have about this information.

Step 1 – Get ready to purchase a home
There are a lot of things you'll want to consider before you search for a home. You'll most likely want to make a check list of items you want, plan for what school districts and neighborhoods you want to live in, and begin planning your budget. Ensuring your mortgage payment is less than or close to a third of your net monthly income is a good principle to follow.

Step 2 – Communicate with a real estate agent
This is where I can help. I'd be happy to book a time to get together with you and speak with you regarding why you want to buy a home and get an idea of your upcoming plans. We'll talk about the mortgage industry, other economic factors that might affect your buying decision today or in the future, as well as neighborhoods and schools in the Oakland area.

In addition, I'll help you start the loan process. There are some very good mortgage professionals in Oakland, and I work with a lot of them, so you'll be in great hands. They'll help you decide which kind of loan is best for you, as well as help you get approved.

Step 3 – Begin house-hunting
After our initial meeting, I'll begin looking for available houses on the market that best suit you. I'll research most of the homes and throw out the bad ones, and then we'll schedule appointments to view the homes at a time that's convenient for you.

As we view the houses, I'll identify positive features, as well as bad ones. And I'll ask you to point out what things you like and dislike. It's pretty common for buyers to revise their list of must-haves as we view homes and some features become more essential than others. If that's the situation, I'll search all the listings once again and narrow it down to the house you've been waiting for.

Step 4 – Know the housing market
My knowledge of the Oakland home market is an essential aspect in your home search. I am acquainted with all the school districts and neighborhoods, and I can let you know some neighborhoods are "hot" and require immediate action and others that are "cold" and allow for more examination.

As we tour homes, I'll be sure to tell you when the asking price has room for negotiation and also when I know the home is "priced to sell." When working with an agent, be on guard and be sure to ask plenty of questions. Every REALTOR will claim to truly understand the market. If it seems like they don't know everything, contact me at 5106010116 or e-mail me at , and I'd be more than happy to answer any questions you might have. My understanding of the market will keep you a step above the rest through the entire deal.

Step 5 – Find the home you've been looking for
I know we'll find the home of your dreams in Oakland. When we do, I'll carefully develop your real estate purchase offer. The offer will be tailored keeping your needs in mind and the home, including several contingencies. A few examples are acquiring financing, carrying out the inspection, and a clean title.

When submitting your purchase offer, you'll likely want to present "earnest money." This is a cash deposit given to the home seller to secure the offer to buy the property. The amount is usually put towards the closing costs. If the seller accepts the offer, we should close within 30 to 60 days after. This allows sufficient time for your mortgage financing.

Step 6 – Negotiate the deal
Most deals don't close on the beginning offer – it's pretty common to receive a counter offer. Don't let it alarm you. We'll talk about whether or not to take the counter offer, present our own counter offer, or refuse the seller's offer and move on.

How aggressively we negotiate the contract depends on market conditions. In addition, we'll work within your financing limits. And at the end of the day, we'll assemble a deal that's best for you.

Step 7 – Obtain a loan
Once we sign the final contract, you'll begin working with your mortgage lender to close the loan. If you're pre-approved, this shouldn't take very long at all, but you should to keep 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
You'll get a Loan Estimate (LE) outlining closing costs from your lender within three days of accepting your application. This estimate is based on the loan amount, and RESPA requirements dictate that it has to involve all closing costs and be within a close range of accuracy. I'll analyze the estimate and let you know if everything looks good.

Then it's time to close on your home. This should happen at a title company or escrow office and is often a smooth and relaxed occasion.

Step 9 – Move in
Congratulations! It's time to move into your new home. Enjoy it. And if you need anything, make sure you contact me at 5106010116 or e-mail me at .