Purchasing your home in Pauma Valley
Buying a home is a stressful event for most people. However, with a bit of planning ahead of time, it isn't very difficult. I like to give buyers an overview of the entire deal so they'll understand exactly what to expect. Below are my nine steps to buying a home.
Should you have questions about any of this information or if you're prepared to get started, you can contact me here or send e-mail to
chuck@priorityonegroup.com.
Step 1 – Prepare to buy
There are many things you should contemplate prior to commencing your home search. When you begin your search, you'll probably want to make an outline of items you need to have, get a feel for what school districts and neighborhoods you want to live in, and start working on your budget. A good principle to adhere to is that your mortgage payment should be no more than a third of your net monthly income.
Step 2 – Talk to a real estate agent in Pauma Valley
This is where Priority One Group can help. I'll arrange a time to get together so we can talk about your real estate needs and get an idea of your upcoming plans. We'll talk about neighborhoods, schools in the Pauma Valley area, the mortgage industry, and any additional economic factors that could potentially affect your buying decision today or in the future.
In addition, I'll assist you in getting started on your loan. I work with some of the finest mortgage professionals in Pauma Valley, so you'll be in great hands. They can help you choose which type of loan is best for you, as well as help you get qualified.
Step 3 – Start your search
After we meet, I'll begin finding homes on the market that are a great fit for you. I'll get a sneak peek of most of the homes and ignore the bad ones, and then we'll book appointments to tour the houses when it's most convenient for you.
When we tour homes, I'll point out positive features, as well as bad ones. I'll also ask you to point out what things you like and dislike. As a rule, buyers change their must-have list as we view homes and some things become far more essential than others. If that's the situation, I'll go back through all the listings once more and trim it down to the home you've been dreaming about.
Step 4 – Get a feel for the market
My awareness of the Pauma Valley housing market is a valuable benefit in your home search. I'm mindful of all the schools and neighborhoods, and I can communicate certain neighborhoods are "hot" and demand prompt action and the ones that are "cold" and allow for careful examination.
When we tour homes, I'll make sure to communicate when the seller's list price has room for negotiation and when I think the home is "priced to sell." When working with an agent, be on guard and make sure you ask plenty of questions, as any REALTOR® will convince you they comprehend the home market. If things don't add up, call me at (760) 742-1200 or e-mail me at chuck@priorityonegroup.com, and I'd be more than happy to answer any questions you might have. My market knowledge will help you stay a step ahead through the entire deal.
Step 5 – Find your dream home
I'm confident we'll find your dream house in the Pauma Valley area. When we do, I'll carefully create your real estate purchase offer. The offer will be tailored to suit your needs, including many contingencies, such as acquiring financing, completing the inspection, and a clean title.
When we present your purchase offer, you'll likely want to submit "earnest money." This is a cash deposit given to a seller to secure the offer to buy the property. The amount is typically put towards the cost of closing. If the seller accepts your offer, we should close on the home about 30 to 60 days after. This allows necessary time for your mortgage financing.
Step 6 – Negotiate the deal
Unfortunately most deals aren't closed on the beginning offer, and it's extremely common to receive a counter offer. But don't let this intimidate you. We'll talk about whether or not to agree to the counter offer, submit our own counter offer, or reject the seller's offer and move on.
How aggressively we negotiate the deal depends on the state of the market. We'll also work within your financing limits. And at the end of the day, we'll create a deal that is best for you.
Step 7 – Secure a loan
Once the deal is finished, you'll start working with your mortgage lender to close the loan. If you're pre-qualified, this won't take long at all, but you'll want to stay in close contact with your lender. And I'll deal with all the property information your mortgage lender will need to close the loan.>
Step 8 – Close the deal
Your mortgage lender will furnish you with a Good Faith Estimate (GFE) detailing closing costs within three days of accepting your application. The estimate depends on the loan amount, and RESPA requirements mandate that it has to include all closing costs and fall within a narrow range of accuracy. I'll examine the estimate and let you know if it all looks all right.
Then it's time to close on your house. This should happen at a title company or escrow office and is often a smooth and comfortable affair.
Step 9 – Move in
Congratulations! Now you can move into your new home. Enjoy it. And if you need anything or have any questions, make sure you contact me at (760) 742-1200 or send me an e-mail.