The Buying Process
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In a lifetime, a person buys an average of Five Homes and I enjoy working with all five types of buyers. Whether you’re looking for your First Time Home, a Bigger Home, your Dream Home, Vacation Home or your Retirement Home, my website will guide you with the most comprehensive search tools available in today’s San Diego housing market. This latest market information tool allows you to view CURRENT listings with detailed descriptions and photos; you can run your search by zip code or LIFESTYLE which includes; neighborhoods, demographics, schools, restaurants, parks, golf, hotels, theaters, nearest coffee house, and of course schools. You are able to organize your searches, add to your favorites and write reminder notes to yourself. You are able to view recent SOLD and , learn about the home values for specific zip code. This map will also show you the market trend for the last two years. Amazing tool! Watch the video on how to use the map.
Buying a home is certainly one of the most rewarding experiences most of us ever have; it’s also one of the most challenging. When purchasing a home, you are faced with multitude decisions in a short period of time which is the primary reason why I am here to guide you through this experience. Locating the perfect home is not always an easy task, and obtaining a mortgage loan can be complex and a tiring process. Although, once you have determined that you are ready to move forward in owning your own home or another home, the rewards are unquestionable.
I promise to be at your side each step of the way to make the process easier and more enjoyable, less time consuming /less expensive than if you undertook this challenge on your own. The process may seem overwhelming whether you’re first time buyer or several times buyer every move is different and presents new challenges. I am going to layout the buying process in a condense version and will be ready to answer all your questions. Let’s Get Started!
How Does The Home Buying Process Start? When the thought of owning a home ( to call your very own) crosses your mind you then need to ask yourself “What is important to me about owning a home?”: tired of getting kicked out by landlords, want a fixed monthly payment, want to paint the walls any color you want, want to build EQUITY, want a tax write off, take advantage of the low interest rates? et cetera.
Make a list: of what kind of home you’d like to have and where you would like to live. Separate the “MUST HAVE from the WANT TO HAVE”. This will help you determine What TYPE of Buyer are you? San Diego MLS has a few types of residential styles of homes for you to choose from: Detached, Attached, Townhome, Rowhome, Twinhome, Mobile Homes, and 2-4 Multi-Units. Today’s Multiple Listing Service (MLS) includes over 95% of the homes listed in any given community which makes it easier for buyers to search information on homes for sale anywhere in the USA.
Consider what area you want to live in: city, suburban, country, neighborhoods (old or new), schools, recreational facilities, trails, airport, public transportation, day care, walkability to stores- library- doctors- restaurants- entertainment-beach-bay, etc.
Think about what criteria is important to you: how many rooms, how many square feet, one level, stairs, elevator, do you need yard with grass, pool, how about a view, what about a garage, laundry in the home, will you consider a fixer-upper?
Meeting: We will get together and spend 90 minutes discussing what you like and don’t like about San Diego, what you absolutely need, what you’d like to have, and what you wish to never see. We’ll discuss neighborhoods and types of styles that are within your budget. Afterwards we will have a clear picture of what is going to be best for you.
Most Important…..How Are You Going To Pay For The Home? Once you have your visual, you are probably like most people who will need some form of financing? Affordability is probably the single biggest concern of first-time home buyers so don’t sell yourself short and talk to a mortgage lender. There are several lending institutions that offer a variety of mortgage products that will fit each and every one of you. I would be happy to introduce you to few lenders in San Diego that have an excellent reputation and track record for successfully closing and securing the best possible interest rate for your home purchase. Once they run the numbers they will agree to loan you a certain amount and will put it in writing, then the House Hunting Begins.
HOUSE HUNTING BEGINS! Approach home buying with intelligence and confidence, and by doing your homework, you are more likely to buy a house you’ll be happy with and to know that you made the right decision. Your purchase will probably be one of the biggest investments you will ever make so why not take advantage of my experience as a local market expert of San Diego and allow me to Consult, Negotiate, and Oversee all your transactional details. I work with all types of buyers including first time home buyers, move up buyers, military, relocating buyers, investors, veterans and senior. I have access in serving all of San Diego County but specialize in where I spend most of my time which includes: Pacific Beach, La Jolla, Bird Rock, Mission Bay, Crown Point, San Diego Bay, Mission Bay, Mount Soledad, Del Mar, West of 5, Clairemont, Bay Ho, Point Loma, Ocean Beach and of course Little Italy.
WHY USE A REALTOR?
It’s FREE! Having a Buyer’s Specialist assist you in your home purchase is almost always free to the buyers. Asking me to assist you doesn’t cost you a penny and saves you time and stress! I have been through ever type of market you can think of and will help you understand everything you need to know about the home buying process…..As a buyer, It’s important to have representation to help negotiate a lower price as well as protect your rights during the buying stages. This is a legal binding sales contract, why would you do this alone? It is also important to know that a Buyer’s Agent represent YOU and a listing agent represents the seller, NOT YOU, and they are obligated to do what is in the best interest of their client i.e. The Seller. Not all licensees are the same, only those who are members of the National Association of Realtors are properly called REALTORS. They are committed to treat all parties in the transaction with honesty; a Realtor subscribes to a strict Code of Ethics and expects to maintain a higher level of knowledge of the buying process. I, as your Realtor, will determine your buying power and present it to the seller in a way they cannot refuse your offer and I will represent your money like its mine.
With over 20 years of experience working with nation wide Real Estate Firms I have many resources to assist you in your home search along with many negotiating factors, including but not limited to price, financing, terms, date of possession and often the inclusion or exclusion of repairs and furnishings or appliances. Your purchase contract must be carefully submitted to protect yourself and your legal interest.
THE OFFER (Blueprint of the sale): There is no time limit on how long the house hunting will take but one thing is for sure, you will know when you see the one, and you’ll want to move forward immediately before someone else feels the same way. The research begins…. I’ll search similar properties that sold in the area to come up with our own value, explain to you your buying power, determine our negotiating strategy, we’ll go back for a second look, find out why seller is selling, etc. Then when you are totally sure this is the one, I will help you put together a written, legal binding offer that reflects the price as well as terms and conditions that are right for you. The offer must be reasonable or it will never be accepted. Once your offer gets accepted and we have a fully executed contract, we OPEN ESCROW and you will have up to 3 days to deposit the Earnest Money into escrow which is usually anywhere from 1-3% of the offer. The amount is negotiable and is deducted from your down payment so it’s not extra money. The higher the EM the more serious a buyer appears. Escrow is a third party who makes sure the contract is followed and has every on the same page before the closing date or penalties could arise. When all parties have signed the agreement that is when the clock starts ticking.
INSPECTIONS: Most contracts request 17 days for the due diligence period which means we will have all of our inspections performed to determine if the home meets your satisfaction for the price. All homes need some repairs; some urgent, some small, some so big that you back away from the deal or we negotiate a price reduction. We favor Home Inspections for every home and that the buyer is present to learn all about the home.
FINANCING: Real Estate is a commodity and if you are obtaining a loan the home has to be appraised (buyers cost) according to the lenders standards. Even though you were pre-approved the banks will scrutinize your file down to a fine line so we check on the process daily to assure we don’t encounter issues beyond our control. A good committed loan officer will usually do whatever it takes to solve the occasional issues that do arise due to underwriting protocol and to make sure all the paperwork is perfect.
ECROW: At this point Escrow, Lender, Agents, Buyer and Seller are all working together to secure a smooth closing. A lot happens in one transaction regardless of the size or price of the home. Hours of reviewing and signing papers; hundreds of emails and phone calls; coordinating with escrow, lender, agents, owner and contractors all at the same time to make sure we close in 30 days or what time frame is stated on contract.
CLOSING: We visit the home one last time before you fund to make sure all repairs have been completed, nothing is vandalized, nothing has been taken without your consent, we sign one last form called Verification of Property, you follow escrows instruction on how to fund, the next day it records at the San Diego County Records and it states that you are the New Proud Owner of the home. I will hand you the keys and you will start to fill your home with Memories, Laughter and Love.