Purchasing a new home

Buying a home is stressful for a lot of people. However, with a little up-front planning, it's not very complex. So they know exactly what they can expect, I like to provide buyers with an overview of the whole deal. Below are my nine steps to buying a home. Should you have any questions about this information or if you're prepared to get started, just contact me here or e-mail me at .

Step 1 – Prepare to purchase a home

Prior to starting your home search, there are a lot of things you'll want to take into account. You'll most likely want to assemble an outline of items you want to have, get an idea of what school districts you want to live in, and start planning your budget. Keeping your mortgage payment around 1/3 of your net monthly income is a good guideline to go by.

Step 2 – Get in touch with a real estate agent in your area

This is where Financial Freedom Solutions, Inc. can help. I'd like to arrange a time to get together with you and speak with you about your real estate needs and get an idea of your future plans. We'll talk about everything from neighborhoods, school districts, the mortgage industry, to any other economic factors that might affect your buying decision today or in the future.

I can also assist you with getting started on your loan. I partner with some of Covina's best mortgage professionals, so you can rest assured that you're in great hands. They'll assist you in deciding which type of loan is best for you and help you get qualified.

Step 3 – Start looking for a home
After our first meeting, I'll start searching for available houses on the market that are good for you. I'll get a sneak peek of most of the homes and throw out the bad ones, and then we'll set up appointments to view the homes when it's most convenient for you.

As we tour houses, I'll show you the good features and bad ones. I'll even ask you to talk about things you like and dislike. It's pretty common for buyers to change their list of must-haves as we view houses and some features become more essential than others. If such is the case, I'll search the listings another time and trim it down to the house you've been dreaming about.

Step 4 – Comprehend the housing market
My understanding of the Covina market is a crucial factor in your house search. I'm mindful of all the neighborhoods and school districts, and I'll let you know some neighborhoods are "hot" and warrant immediate action and the ones that are "cool" and allow for more examination.

As we tour houses, I'll let you know when the asking price has room for negotiation and when I trust the home is "priced to sell." Any real estate agent will tell you they know the housing market, but be careful, and make sure you ask your agent lots of questions. If things don't add up, just call me at 6269184592 or e-mail me at , and I'll be more than happy to answer your questions. My market expertise will keep you a step above the rest through the entire deal.

Step 5 – Find your dream home
I'm confident we'll find the home of your dreams in the Covina area. When we do, 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 home inspection, and a clear title.

When turning in your purchase offer, you'll probably want to submit "earnest money." This is a cash deposit given to a home seller to secure an offer to purchase the property and is often applied to the cost of closing. If the seller accepts your offer, we should close about 30 to 60 days afterward. This allows sufficient time for your mortgage financing.

Step 6 – Negotiate the deal
Unfortunately most contracts don't close on the initial offer. It's very common to receive a counter offer. Don't let this discourage you. We'll discuss whether or not to accept the counter offer, propose our own counter offer, or decline the seller's offer and go on.

The state of the market will play a big part in how aggressively we negotiate the contract. We'll also work within your financing constraints. And when it's all said and done, we'll create a contract that works well for you.

Step 7 – Get a loan
Upon completion of the deal, you'll start working with your lender to close the loan. This shouldn't take long at all if you're already pre-approved, but you'll want to stay in close contact with your mortgage lender. And I'll sort out all the property information your mortgage lender will need to close the loan.

Step 8 – Close the deal
Your mortgage lender will give you a Loan Estimate (LE) of closing costs within three days of getting your application. You'll get a Loan Estimate (LE) of your closing costs from your lender within three days of receiving your application. The estimate depends on the loan amount, and RESPA requirements mandate that it has to include all closing costs and be within a close range of accuracy. I'll review the estimate and let you know if it all looks good.

Then we'll close on your house. This will most likely take place at a title company or escrow office and will most likely be a smooth and stress-free occurrence.

Step 9 – Move in
Congratulations! It's time to move into your new house. Enjoy it. And if you have any questions, just contact me at (626) 918-2419 or e-mail me at Mark@hernre.com