Buying or selling a home in Bakersfield?
Purchasing a home is intimidating for most people, but it's not that hard with a little planning ahead of time.
So they understand exactly what to expect, I like to provide buyers with an outline of the whole deal.
Here are my nine steps to buying a home.
Should you have any questions regarding any of this information or if you're ready to get started, just contact me here or e-mail me at .
Step 1 – Prepare to purchase a home
There are many things you should take into account before beginning your home search.
When you start your search, you'll want to form a checklist of features you want, get a feeling for what school districts and neighborhoods you want to live in, and start working on your budget.
A good rule to adhere to is that your mortgage payment should be less than or around 30 percent of your net monthly income.
Step 2 – Communicate with a real estate agent in Bakersfield
That's where I can help.
I'd be more than happy to set up a time to meet with you and speak with you regarding your real estate needs and get an idea of your future plans.
We'll talk about the mortgage industry, other economic factors that may potentially affect your purchase today or in the future, as well as neighborhoods and school districts in the Bakersfield area.
In addition, I'll help you begin the loan process.
I partner with some of Bakersfield's best mortgage professionals, so you're in great hands.
They can help you determine which kind of loan is best for you, as well as help you get approved.
Step 3 – Start your search
After our initial meeting, I'll begin looking for available homes on the market that are great for you.
I'll get a sneak peek of most of the homes and exclude the bad ones, and then we'll schedule appointments to view the houses when it's most convenient for you.
When we view houses, I'll point out positive features and bad ones. I'll even ask you to talk about things you like and don't like.
It's pretty common for buyers to revise their wish list as we view homes and some items become more crucial than others.
If that happens, I'll search all the listings another time and narrow it down to the house of your dreams.
Step 4 – Comprehend the market
Your agent's knowledge of the Bakersfield housing market is a leading factor in your home search. And I can assure you I'm informed of all the neighborhoods and school districts, and I'll let you know some areas are "hot" and require immediate action and some that are "cold" and allow for careful examination.
When we tour homes, I'll be sure to tell you if the list price has room for negotiation or if I believe the home is "priced to sell."
When working with an agent, be careful and be sure to ask lots of questions, as any REALTOR in Bakersfield will claim to know the market.
If things don't add up, contact me at 661-205-5475 or e-mail me at , and I'd be more than happy to answer any questions you may have. My market knowledge will help you stay a step ahead through the entire deal.
Step 5 – Find the house of your dreams
I'm positive we'll find the home of your dreams in Bakersfield. When that happens, I'll thoroughly create your home purchase offer. The offer will be tailored exactly to your needs and the home, including some contingencies. A few examples are acquiring financing, completing the inspection, and a clean title.
When we submit your offer, you'll probably need to submit "earnest money." This is a cash deposit given to a home seller to secure an offer to buy the property and is usually 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
Most deals don't close on the beginning offer, and it's very common to receive a counter offer. But don't let this discourage you. We'll talk about whether or not to agree to the counter offer, propose our own counter offer, or refuse the seller's offer and go on.
Market circumstances will play a large role in how aggressively we negotiate the contract.
We'll also work within your financing limits. And when it's all said and done, we'll assemble a deal that works well for you.
Step 7 – Obtain financing
After the contract is signed, you'll start working with your mortgage lender to close the loan.
It won't take long at all if you're pre-qualified, but you need to stay in close contact with your mortgage lender.
And I'll care for all the property information your lender will need 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 receiving your loan application.
This estimate rests on the loan amount, and RESPA requirements mandate that it has to include all closing costs and be within a precise range of accuracy. I'll examine the estimate and let you know if it all looks good.
Then we'll close on your house. This will likely occur at a title company or escrow office and will most often be a smooth and relaxing 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 661-205-5475 or e-mail me at .