Let Fenton Real Estate assist you with purchasing your new home in Bakersfield
Purchasing a home is stressful for most people, but it's not very hard with a bit of planning ahead of time.
So they understand exactly what they can expect, I'll supply buyers with an overview of the entire deal.
Here 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 address questions you have regarding this information.
Step 1 – Prepare to purchase
There are many things you'll want to do before you look for a home.
It's likely that you'll want to put together a check list of must-have features, plan for what school districts you'd like to live in, and start working on your budget.
A good principle to go by is that your mortgage payment should be a third of your monthly income.
Step 2 – Contact a real estate agent in Bakersfield
This is where I come in.
I'd like to plan a time to meet with you and speak with you regarding why you want to buy a home and get an idea of your upcoming plans.
We'll discuss everything from neighborhoods, school districts in the Bakersfield area, the mortgage industry, to any other economic factors that may potentially affect your purchase today or in the future.
I can also assist you in getting started on your loan.
There are some very good mortgage professionals in Bakersfield, and I partner with a lot of them, so you'll be in great hands.
They will help you choose which type of loan is best for you, as well as help you get qualified.
Step 3 – Begin looking for a house
Following our initial meeting, I'll begin looking for available homes on the market that are a great fit for you.
I'll get a sneak peek of many of the homes and reject the duds, and then we'll book appointments to view the homes when it's most convenient for you.
As we view the houses, I'll point out good features, as well as negative ones. And I'll ask you about things you like and dislike.
As a rule, buyers amend their wish list as we view homes and some things become far more essential than others.
If that's the situation, I'll look through the listings another time and trim it down to the house you've been wishing for.
Step 4 – Understand the housing market
My understanding of the Bakersfield market is a leading aspect in your house search. I'm conscious of all the neighborhoods and schools, and I can alert you to what areas are "hot" and require prompt action and others that are "cool" and allow for thoughtful consideration.
When we tour houses, I'll be sure to tell you if the asking price has room for negotiation or if I believe the house is "priced to sell."
When working with an agent, trust your instincts and make sure you ask plenty of questions, as every REALTOR will tell you they truly know the housing market.
If it appears they don't know everything, contact 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 ahead through the entire deal.
Step 5 – Find your dream house
We'll find your dream house in the Bakersfield area, and when that happens, I'll carefully develop your home purchase offer. The offer will be made to suit your needs and the home. We'll include several contingencies, such as acquiring financing, completing the inspection, and a clear title.
Upon submitting your offer, you'll need to present "earnest money." This is a cash deposit submitted to a seller to secure the offer to purchase the property and is most often applied to the cost of closing. If the offer is accepted by the seller, we should close on the property within 30 to 60 days afterward. This allows sufficient time for your mortgage financing.
Step 6 – Negotiate the deal
A lot of contracts don't close on the first offer. It's really common to receive a counter offer. Don't let this alarm you. We'll talk over whether or not to agree to the counter offer, propose our own counter offer, or decline the seller's offer and go on.
The state of the market determines how aggressively we negotiate the contract.
We'll also work within your financing constraints. And at the end of the day, we'll formulate a contract that works well for you.
Step 7 – Secure financing
After we sign the final sales contract, you'll begin working with your mortgage lender to close the loan.
It won't take long at all if you've been pre-approved, but you should to stay in close contact with your lender.
And I'll deal with all the property information your lender will need to close the loan.
Step 8 – Close the deal
Your lender will supply you with a Loan Estimate (LE) of closing costs within three days of accepting your application. You'll get a Loan Estimate (LE) outlining your closing costs from your mortgage lender within three days of accepting your application.
The estimate is formed from the loan amount. RESPA requirements require that it has to include all closing costs and be within a tight range of accuracy, and I'll go over the estimate and let you know if everything looks adequate.
Then it's time to close on your house. This will likely happen at a title company or escrow office and will likely be a smooth and stress-free affair.
Step 9 – Move in
Congratulations! It's time to move into your new house. Enjoy it. And if you need anything, make sure you contact me at 661-205-5475 or e-mail me at .