Buying a new home in Diamond Bar
Purchasing a home is stressful for most people, but it's not that hard with a bit of planning ahead of time.
So they'll understand exactly what they can expect, I like to provide buyers with a road map of the entire deal.
These are my nine steps to buying a home.
When you're ready to get started, you can contact me here or e-mail me at . I'm glad to address any questions you have regarding this information.
Step 1 – Prepare to buy a home
There are many things you should consider before you search for a home.
You'll most likely want to create an outline of features you need to have, plan for what neighborhoods you'd like to live in, and begin working on your budget.
Keeping your mortgage payment less than or around 1/3 of your net monthly income is a good rule to adhere to.
Step 2 – Connect with a real estate agent in Diamond Bar
That's where I come in.
We can schedule a time to get together so we can talk about why you want to buy a home and get an idea of your future plans.
We'll discuss everything from neighborhoods, schools in the Diamond Bar area, the mortgage and housing industries, to any other economic factors that may affect your purchase today or in the future.
I can also assist you in getting started on your loan.
All Star Brokers partners with some of Diamond Bar's finest mortgage professionals, so you're in great hands.
They can help you determine which kind of loan is best for you, as well as help you get qualified.
Step 3 – Begin your search
After our first meeting, I'll start looking for available houses on the market that are a great fit for you.
I'll research many of the houses and ignore the duds, and then we'll schedule appointments to view the houses whenever it's convenient for you.
When we view houses, I'll identify positive features and bad ones. And I'll ask you about things you like and don't like.
Generally, buyers amend their list of must-haves as we tour homes and some features become more essential than others.
If such is the case, I'll search all the listings one more time and narrow it down to the home of your dreams.
Step 4 – Understand the market
An agent's knowledge of the Diamond Bar housing market is a fundamental component in your house search. And I can assure you I'm acquainted with all the school districts and neighborhoods, and I can communicate some areas are "hot" and warrant immediate action and the ones that are "cold" and allow for thoughtful examination.
When we view houses, I'll be sure to tell you when the list price has room for bargaining and also when I know the home is "priced to sell."
When working with an agent, trust your instincts and make sure you ask a lot of questions. Any REALTOR in Diamond Bar will claim to comprehend the market.
If it doesn't seem like they know everything, contact me at 6262410395 or e-mail me at , and I'd be happy to answer any questions you have. My understanding of the market will help you stay a step ahead through the entire deal.
Step 5 – Find the home you've been waiting for
We'll find your dream house in the Diamond Bar area, and when that happens, I'll carefully create your real estate purchase offer. The offer will be made to suit your needs and the home. We'll include several contingencies, such as acquiring financing, finishing the inspection, and a clean title.
Upon presenting your offer, you'll probably want to present "earnest money." This is a cash deposit given to the home seller to secure an offer to buy the property, and it's most often applied to the closing costs. If the seller accepts your offer, we should close on the property about 30 to 60 days after. This allows ample time for your mortgage financing.
Step 6 – Negotiate the deal
Unfortunately most contracts don't close on the initial offer, and it's really common to receive a counter offer. Don't let it discourage you. We'll talk about whether or not to take the counter offer, propose our own counter offer, or refuse the seller's offer and go on.
The state of the market will play a vital role in how aggressively we negotiate the deal.
We'll also work within your financing constraints. And when it's all said and done, we'll assemble a deal that's best for you.
Step 7 – Obtain a loan
After we sign the final contract, you'll begin working with your lender to close the loan.
If you're already pre-approved, it won't take much time at all. However, you'll need to stay in close contact with your mortgage lender.
And I'll take care of all the property information your mortgage lender needs to close the loan.
Step 8 – Close the deal
Your lender will supply you with a Loan Estimate (LE) outlining your closing costs within three days of taking your application. You'll get a Loan Estimate (LE) outlining your closing costs from your mortgage lender within three days of taking your application.
This estimate rests on the loan amount, and RESPA requirements mandate that it has to contain all closing costs and fall within a tight range of accuracy. I'll study the estimate and let you know if everything looks all right.
Then it's time to close on your home. This will most often take place at a title company or escrow office and will likely be a smooth and relaxing occasion.
Step 9 – Move in
Congratulations! Now you can move into your new house. Enjoy it. And if you need anything, just call me at 6262410395 or e-mail me at .