Buying or selling a home in Monarch Beach?
Buying a home is intimidating for many people. However, with a little planning ahead of time, it isn't too complicated.
So you know exactly what to expect, I like to give my buyers a road map of the entire deal.
Here are my nine steps to purchasing a home.
When you're ready to get started, just contact me here or send me e-mail
. I'm happy to address any questions you have about this information.
Step 1 – Get ready to buy
Before you begin your home search, there are a lot of things you'll want to take into account.
You'll probably want to form a check list of features you need to have, get an idea of what school districts you'd like to live in, and start working on your budget.
Keeping your mortgage payment less than 1/3 of your monthly income is a good guideline to adhere to.
Step 2 – Contact a real estate agent in Monarch Beach
This is where Marketa Musil - Berkshire Hathaway Home Services, California Properties comes in.
I'd love to schedule a time to meet with you and communicate with you regarding your real estate needs and get an idea of your future plans.
We'll talk about neighborhoods, school districts in the Monarch Beach area, the mortgage and housing industries, and any other economic factors that could potentially affect your buying decision today or in the future.
In addition, I'll help you start the loan process.
There are some excellent mortgage professionals in Monarch Beach, and I partner with a lot of them, so you'll be in great hands.
They will help you figure out which kind of loan is best for you, as well as help you get approved.
Step 3 – Start house-hunting
After our first meeting, I'll begin searching for homes on the market that are a great fit for you.
I'll research most of the homes and throw out the bad ones, and then we'll schedule appointments to tour the homes whenever it's convenient for you.
As we view homes, I'll call attention to positive features and negative ones. And I'll ask you to point out what things you like and don't like.
It's widely common for buyers to update their list of must-haves as we view houses and some things become more essential than others.
If that's the case, I'll look through all the listings once again and narrow it down to the home of your dreams.
Step 4 – Get a feel for the housing market
Your agent's understanding of the Monarch Beach market is a leading factor in your home search. And I assure you I'm informed of all the neighborhoods and schools, and I'll let you know what districts are "hot" and require immediate action and the ones that are "cold" and allow for cautiousness.
As we tour houses, I'll make sure to communicate if the list price has room for negotiation or if I believe the house is "priced to sell."
When working with an agent, be careful and be sure to ask plenty of questions. Every REALTOR® in Monarch Beach will tell you they comprehend the housing market.
If things don't add up, just call me at (949)436-8745 or e-mail me at firstname.lastname@example.org, and I'd be more than happy to answer any questions you may have. My market expertise will keep you a step ahead throughout the entire deal.
Step 5 – Find the house you've been waiting for
I'm confident we'll find your dream house in the Monarch Beach area. When we do, I'll precisely create your home purchase offer. The offer will be tailored keeping your needs in mind, including many contingencies. A few examples are obtaining financing, completing the inspection, and a clear title.
When we send in your purchase offer, you'll want to present "earnest money." This is a cash deposit made to a seller to secure the offer to buy the property, and it's most often applied to the cost of closing. If the offer is accepted, we should close on the property about 30 to 60 days after. This allows ample time for your mortgage financing.
Step 6 – Negotiate the deal
A lot of contracts don't close on the initial offer, and it's extremely common to receive a counter offer. But don't let it discourage you. We'll figure out whether or not to consent to the counter offer, submit our own counter offer, or reject the seller's offer and go on.
Market circumstances determine how aggressively we negotiate the deal.
In addition, we'll work within your financing limits. And at the end of the day, we'll put together a deal that is best for you.
Step 7 – Secure your loan
Once we sign the final deal, you'll start working with your mortgage lender to close the loan.
If you've been pre-approved, this won't be a long process at all. But you should to stay in close contact with your mortgage lender.
And I'll manage all the property information your lender will need to close the loan.>
Step 8 – Close the deal
You'll get a Good Faith Estimate (GFE) of closing costs from your 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 fall within a tight range of accuracy. I'll review the estimate and let you know if everything looks adequate.
Then it's time to close on your house. This will probably occur at a title company or escrow office and is often a smooth and calm affair.
Step 9 – Move in
You made it! Now you can move into your new house. Enjoy it. And if you need anything or have any questions, make sure you contact me at (949)436-8745 or send me an e-mail.