Looking to purchase a home in Bakersfield? Fenton Real Estate can help.
Buying a home intimidates most people, but with some planning ahead of time, it's not all that complicated.
So they'll know exactly what to expect, I'll furnish buyers with an outline of the entire deal.
Below are my nine steps to buying a home.
Should you have questions about any of this information or if you're ready to get started, simply contact me here or e-mail me at .
Step 1 – Prepare to buy
There are a lot of things you need to consider prior to beginning your home search.
You'll want to assemble an outline of items you need, get a feel for what neighborhoods and school districts you want to live in, and start planning around your budget.
A good rule of thumb to adhere to is that your mortgage payment should be 30 percent of your monthly income.
Step 2 – Speak with a real estate agent
That's where I can help.
I'd be happy to set up a time to meet with you and speak with you about your real estate needs and get an idea of your future plans.
We'll discuss the mortgage industry, other economic factors that could affect your buying decision today or in the future, as well as neighborhoods and school districts in the Bakersfield area.
I'll also help you facilitate the loan process.
I partner with some of the best mortgage professionals in Bakersfield, so you're in great hands.
They will assist you with choosing which type of loan is best for you and help you get approved.
Step 3 – Start house-hunting
After our initial meeting, I'll start looking for houses on the market that meet your needs.
I'll preview many of the houses and eliminate the duds, and then we'll set up appointments to tour the houses whenever it's convenient for you.
As we tour the houses, I'll point out positive features and negative ones. I'll even ask you what things you like and dislike.
Frequently, buyers update their list of must-haves as we view houses and some things become far more essential than others.
If that's the situation, I'll look through all the listings again and trim it down to the home you've been wishing for.
Step 4 – Know the market
My understanding of the Bakersfield housing market is a leading aspect in your home search. I am familiar with all the school districts and neighborhoods, and I can communicate which districts are "hot" and warrant prompt action and others that are "cold" and allow for more examination.
As we view homes, I'll let you know if the seller's asking price has room for bargaining or if I believe the house is "priced to sell."
Be on guard and be sure to ask your agent a lot of questions, as every REALTOR in Bakersfield will claim to know the market.
If it doesn't seem like they know everything, call me at 661-205-5475 or e-mail me at , and I'd be happy to answer any questions you have. My market expertise will keep you a step above the rest throughout the entire deal.
Step 5 – Find the home of your dreams
We'll find your dream home in Bakersfield, and when we do, I'll precisely create your home purchase offer. The offer will be tailored with your needs in mind and the home, including some contingencies. A few examples are obtaining financing, finishing the inspection, and a clear title.
When we submit your purchase offer, you'll need to present "earnest money." This is a cash deposit made to a home seller to secure an offer to buy the property. The amount is most often put towards the cost of closing. If your offer is accepted, we should close within 30 to 60 days afterward. This allows ample time for your mortgage financing.
Step 6 – Negotiate the deal
Unfortunately most deals don't close on the first offer. It's pretty common to receive a counter offer. Don't let it intimidate you. We'll consider whether or not to accept the counter offer, submit our own counter offer, or decline the seller's offer and go on.
The state of the market determines how aggressively we negotiate the deal.
We'll also work within your financing constraints. And at the end of the day, we'll create a deal that's best for you.
Step 7 – Secure a loan
Upon finishing the deal, you'll start working with your lender to close the loan.
If you're already pre-approved, it won't be a long process at all. However, you need to keep in close contact with your lender.
And I'll take care of all the property information your lender needs to close the loan.
Step 8 – Close the deal
Your lender will furnish you with a Loan Estimate (LE) of closing costs within three days of taking your application. You'll get a Loan Estimate (LE) outlining closing costs from your mortgage lender within three days of accepting your loan application.
The estimate depends on the loan amount. RESPA requirements mandate that it has to contain all closing costs and fall within a precise range of accuracy, and I'll study the estimate and let you know if it all looks all right.
Then we'll close on your house. This will likely take place at a title company or escrow office and will likely be a smooth and stress-free occurrence.
Step 9 – Move in
Congratulations! It's time to move into your new home. Enjoy it. And if you need anything or have any questions, just call me at 661-205-5475 or e-mail me at .