Buying a home in Bakersfield
Buying a home can be stressful for many people, but with a little up-front planning, it isn't very difficult.
So they know exactly what to expect, I will furnish buyers with an outline of the entire deal.
These are my nine steps to buying 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 a home
There are a lot of things you need to do prior to commencing your home search.
You'll want to make a checklist of items you want to have, get an idea of what neighborhoods you want to live in, and begin planning your budget.
Keeping your mortgage payment around 30 percent of your monthly income is a good principle to go by.
Step 2 – Connect with a real estate agent in Bakersfield
This is where Fenton Real Estate can help.
We'll book a time to meet so we can talk about your real estate needs and get an idea of your plans for the future.
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 schools in the Bakersfield area.
In addition, I'll help you start the loan process.
There are some excellent mortgage professionals in Bakersfield, and I partner with a lot of them, so you can rest assured that you're in great hands.
They can assist you in determining which kind of loan is best for you and help you get approved.
Step 3 – Begin your home search
After our first meeting, I'll begin searching for available homes on the market that are great for you.
I'll research many of the houses and reject the bad ones, and then we'll set up appointments to view the homes whenever it's most convenient for you.
As we view homes, I'll call attention to good features and negative ones. I'll even ask you to tell us about things you like and don't like.
Usually, buyers revise their must-have list as we view houses and some features become far more substantial than others.
If that's the case, I'll look through the listings again and trim it down to the house you've been dreaming about.
Step 4 – Know the market
My understanding of the Bakersfield home market is a leading component in your home search. I am informed of all the school districts and neighborhoods, and I can alert you to which districts are "hot" and call for prompt action and the ones that are "cold" and allow for careful consideration.
When we view houses, I'll let you know when the seller's list price has room for negotiation and also when I trust the house is "priced to sell."
Every REALTOR will claim to know the housing market, but be careful, and be sure to ask lots of questions.
If things don't add up, call me at 661-205-5475 or e-mail me at , and I'll be happy to answer any questions you have. My market knowledge will help you stay a step above the rest through the entire deal.
Step 5 – Find your dream home
We'll find your dream house in the Bakersfield area, and when that happens, I'll carefully develop your purchase offer. The offer will be made to fit your needs and the home. We'll include some contingencies, such as acquiring financing, finishing the inspection, and a clean title.
When turning in your offer, you'll want to submit "earnest money." This is a cash deposit submitted to a seller to secure the offer to buy the property, and it's usually put towards the cost of closing. If the seller accepts the offer, we should close on the home about 30 to 60 days afterward. This allows plenty of time for your mortgage financing.
Step 6 – Negotiate
Most contracts don't close on the beginning offer. It's really common to receive a counter offer. But don't let it discourage you. We'll talk about whether or not to accept the counter offer, submit our own counter offer, or decline the seller's offer and move on.
How aggressively we negotiate the deal depends on market circumstances.
In addition, we'll work within your financing budget. And at the end of the day, we'll assemble a contract that works well for you.
Step 7 – Secure a loan
Upon signing the deal, you'll start working with your lender to close the loan.
If you're already pre-qualified, this won't take much time at all, but you should to keep in close contact with your lender.
And I'll take care of all the property information your mortgage lender needs to close the loan.
Step 8 – Close the deal
Your lender will furnish you with a Loan Estimate (LE) outlining your closing costs within three days of accepting your application. You'll get a Loan Estimate (LE) of your closing costs from your mortgage lender within three days of accepting your application.
The estimate rests on the loan amount. RESPA requirements require that it has to include all closing costs and fall within a narrow range of accuracy, and I'll review the estimate and let you know if everything looks permissible.
Then it's time to close on your home. This will most likely happen at a title company or escrow office and will most often be a smooth and comfortable occasion.
Step 9 – Move in
Congratulations! Now you can move into your new house. Enjoy it. And if you need anything or have any questions, just call me at 661-205-5475 or e-mail me at .