Understanding Proposition 19A component of voter-approved Proposition 19 has gone into effect Thursday, April 1, 2021, that expands benefits for seniors, people with disabilities, and victims of
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Dated: March 3 2018
Ten Essential Steps to Buying A Home
You’re ready to take the leap and buy a home. If this is your first time, you may want to know what to do to make the process go more smoothly. Here are ten steps you’ll be going through to buy your next home.
Check your credit report and scores. You get one free. Go to “annualcreditreport.com”. The three credit bureaus are Experian, Transunion and Equifax. They each report a little differently and you will need all three.
Get Prequalified. Your lender will run your credit and evaluate your ability to get a loan. You will have to produce income statements, bank statements etc. If you need assistance in this area, I would be happy to refer a great lender to you.
Make your wish list. Decide where you want to live and how much house you can afford. Determine how many bedrooms and size of home you need.
Hire a real estate professional. A good agent that knows the areas you are considering knows the good pockets and can search for the right home and help through the negotiation process.
Select your home. No home is perfect so expect to find a few things that are disappointing. Try to see past minor flaws and don’t buy more than you need or can afford.
Make an offer. You are either in a “buyer’s market” or a “seller’s market” depending on the current market conditions. Your real estate professional can advise you and provide a Market Analysis to determine fair price.
Get an inspection. A home inspection is a professional third party evaluation of the condition of the home.
Renegotiate terms. If the inspection reveals some major problem that will require you to spend money in the near future, your real estate professional can help get a credit for you.
Get an appraisal. Your lender will order this every time to determine if the home is priced fairly.
Go to closing. Once final negotiations are complete and you’ve done your final walk-through to make sure all repairs have been made, you will sign the final loan documents and the lender will fund the loan. Congratulations! You’re ready to move in to your New Home.