From finding your dream home to closing the deal, Get to know our Agents
Find Your First Home in 10 Steps
There is no place like Home!
Is California rental rates every going to go down? A great question. With the amount of people that have moved to Southern California supply is still lower than demand and renting in some cases is higher than having a mortgage. So ask yourself is It now time to stop paying the landlord mortage and buy your own home and build equity and have more tax write off’s?
“A home is one of the most important assets that most people will every buy…You want to work with someone you can trust.” – Warren Buffett
How to Buy a House in 10 Steps:
1. Shop for a mortgage.
2. Hire a real estate agent.
3. Make a list of needs: Location, size, Bedrooms, etc.
4. Search online house listings.
5.Visit open houses.
6. Make an offer and negotiate.
7. Get your loan approved.
8. Hire a housing inspector.
9. Wait for the appraisal.
10. Buy a house after closing.
Make an offer and negotiate: Your real estate agent can guide you on what sort of offer to make based on many factors, such as the home’s asking price, the market, and on how much you want the house. If you’re in a competitive market, some agents will recommend writing a personal note to the seller. If they are in a position to choose amongst several buyers, they may pick someone with a lower bid who seems to love their house as much as they do. The seller might approve your initial offer, or they may engage in negotiations.
7. Get your loan approved.
If your offer is accepted, it’s time to get official. Being pre-approved for a mortgage means you’re likely to get the mortgage. Go back to your lender, and let them know you’re ready to move forward with the process. Your lender will order an appraisal and have you sign some more paperwork. Your loan application will then enter the underwriting stage before it’s approved.
8. Hire a housing inspector.
Some homes can be money pits. Do your due diligence by hiring a housing inspector who can let you know what issues the house has. Every house will have some, but not all problems are deal breakers. Your inspector can’t tell you whether to buy or not, but the inspector’s report will help you decide what to do. Enlist the help of your real estate agent or a trusted homeowner to help guide you.
Use our Experience Agents to your Advantage
Buying a home is the American Dream. A major purchase that requires some research and a trusted partner. That’s where “MrCorona.com comes in.
We extend our resources to first time buyers and help them through the process. We provide the most accurate numbers and explain there meaning. and offer real-world insight and advice based on years of local market experience. Our level of knowledge give you 100% confident in our abilities. Contact Us Today!
9. Wait for the appraisal.
A bank won’t finance a home for more than it’s worth, so getting your loan depends on the appraisal. An appraisal is an expert determination of a property’s value. If the appraisal comes in at or more than the price you offered to pay, it’s time to celebrate. But if the appraisal comes in lower than your offer, you may need to come up with extra cash, renegotiate the price, or say goodbye to that particular home. Note: This is where having a financing contingency comes in handy.
10. Pay closing costs.
You’ve reached the finish line. Well, after you pay closing costs, that is. Closing costs typically represent 2 percent to 5 percent of the home’s purchase price. These costs generally include attorney fees, appraisal fees, your down payment, homeowner’s insurance, and property taxes. You’ll pay these during a meeting—your closing—where you’ll sign all the paperwork and walk away with the keys.
Congrats you’re now a homeowner.