Buying your home in Del Mar with Torrey Pacific Properties
Buying a home is an intimidating event for most people, but it's not very hard with some planning ahead of time.
I like to provide buyers with an outline of the whole deal so they'll understand exactly what to expect.
These are my nine steps to buying a home.
When you're ready to get started, simply contact me here or e-mail me at . I'm glad to answer questions you have about this information.
Step 1 – Get ready to buy
Before you commence your home search, there are a lot of things you'll want to contemplate.
It's likely that you'll want to assemble a list of items you want, get an idea of what school districts you'd like to live in, and begin working on your budget.
Ensuring your mortgage payment is around a third of your monthly income is a good rule to follow.
Step 2 – Talk to a real estate agent in Del Mar
This is where I come in.
I'd love to set up a time to get together with you and communicate with you about your real estate needs and get an idea of your plans for the future.
We'll talk about the mortgage and housing industries, other economic factors that could affect your purchase today or in the future, as well as neighborhoods and schools in the Del Mar area.
In addition, I'll assist you with getting started on your loan.
I partner with some of the finest mortgage professionals in Del Mar, so you can rest assured that you're in great hands.
They'll help you decide which type of loan is best for you, as well as help you get approved.
Step 3 – Begin looking
After our first meeting, I'll begin searching for available homes on the market that meet your needs.
I'll research many of the homes and ignore the bad ones, and then we'll book appointments to view the houses when it's convenient for you.
When we tour the houses, I'll show you the positive features, as well as bad ones. I'll even ask you what things you like and dislike.
It's pretty common for buyers to change their must-have list as we tour homes and some things become more substantial than others.
If that's the situation, I'll search all the listings once more and narrow it down to the house of your dreams.
Step 4 – Know the market
Your agent's knowledge of the Del Mar market is a leading agent in your house search. And I can assure you I'm acquainted with all the schools and neighborhoods, and I will communicate what neighborhoods are "hot" and require prompt action and the ones that are "cold" and allow for thoughtful consideration.
As we view homes, I'll let you know when the list price has room for bargaining and when I believe the house is "priced to sell."
Trust your instincts and make sure you ask lots of questions, as every REALTOR in Del Mar will claim to comprehend the home market.
If things don't add up, contact me at (858) 755-8240 or e-mail me at , and I'll be glad to answer any questions you may have. My understanding of the market will keep you a step ahead through the entire deal.
Step 5 – Find the house you've been looking for
I'm certain we'll find the house of your dreams in the Del Mar area. When that happens, I'll carefully develop your real estate purchase offer. The offer will be made to suit your needs and the home. We'll include a lot of contingencies, such as getting financing, carrying out the inspection, and a clear title.
When we submit your offer, you'll need to present "earnest money." This is a cash deposit submitted to a seller to secure an offer to buy the property, and it's often put towards the closing costs. If your offer is accepted by the seller, we should close about 30 to 60 days after. This allows enough time for your mortgage financing.
Step 6 – Negotiate
A lot of contracts aren't closed on the beginning offer – it's pretty common to receive a counter offer. Don't let this discourage you. We'll talk about whether or not to take the counter offer, present our own counter offer, or reject the seller's offer and move on.
Market conditions determine how aggressively we negotiate the deal.
In addition, we'll work within your financing limits. And at the end of the day, we'll assemble a deal that is best for you.
Step 7 – Secure your loan
After the contract is complete, you'll start working with your lender to close the loan.
If you're pre-qualified, this shouldn't be a long process at all. However, you'll need to keep 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
You'll get a Loan Estimate (LE) outlining closing costs from your lender within three days of taking your application.
This estimate rests on the loan amount, and RESPA requirements require that it has to involve all closing costs and fall within a strict range of accuracy. I'll examine the estimate and let you know if it all looks okay.
Then we'll close on your home. This will most likely take place at a title company or escrow office and should be a smooth and relaxed affair.
Step 9 – Move in
Congratulations! It's time to move into your new house. Enjoy it. And if you need anything or have any questions, just contact me at (858) 755-8240 or e-mail me at .