Buying a home can be stressful for many people, but it's not that complex with a bit of up-front planning.
I like to provide buyers with an outline of the whole deal so they understand exactly what to expect.
These are my nine steps to buying a home.
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When you're ready to get started, simply contact me here or send e-mail to dlichty@triton-mortgage.com. I'm happy to address any questions you have about this information.
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Step 1 – Get ready to buy a home
There are a lot of things you need to take into account prior to beginning your home search.
You'll probably want to assemble a list of features you want to have, get an idea of what neighborhoods you want to live in, and begin planning your budget.
A good rule of thumb to adhere to is that your mortgage payment should be less than 1/3 of your monthly income.
Step 2 – Contact a real estate agent in Aliso Viejo
That's where I come in.
We can schedule a time to meet so we can talk about why you want to buy a home and get an idea of your future plans.
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 Aliso Viejo area.
In addition, I'll help you start the loan process.
There are some very good mortgage professionals in Aliso Viejo, and I work with a lot of them, so you can rest assured that you're in great hands.
They will assist you with figuring out which kind of loan is best for you and help you get approved.
Step 3 – Start looking for a home
Following our initial meeting, I'll start looking for houses on the market that suit your needs.
I'll preview many of the houses and reject the duds, and then we'll schedule appointments to tour the houses when it's convenient for you.
As we tour homes, I'll identify positive features and bad ones. And I'll ask you about things you like and dislike.
It's common for buyers to change their list of must-haves as we tour homes and some things become far more essential than others.
If that's the case, I'll go back through the listings once more and trim it down to the home you've been dreaming about.
Step 4 – Get a grasp of the market
Your agent's understanding of the Aliso Viejo housing market is a necessary factor in your house search. And I can assure you I'm mindful of all the school districts and neighborhoods, and I will let you know some districts are "hot" and warrant prompt action and the ones that are "cool" and allow for thoughtful examination.
As we tour homes, I'll let you know when the asking price has room for negotiation and also when I know the house is "priced to sell."
When working with an agent, trust your instincts and be sure to ask plenty of questions, as any REALTOR® will convince you they understand the housing market.
If it seems like they don't know everything, just call me at (949) 831-8855 or e-mail me at dlichty@triton-mortgage.com, and I'll be happy to answer any questions you have. My knowledge of the market will keep you a step ahead through the entire process.
Step 5 – Find your dream home
I'm certain we'll find the house of your dreams in Aliso Viejo. When that happens, I'll precisely develop your real estate purchase offer. The offer will be tailored exactly to your needs, including several contingencies. A few examples are getting financing, finishing the inspection, and a clear title.
Upon presenting your offer, you'll need to present "earnest money." This is a cash deposit made to the home seller to secure the offer to purchase the property. The amount is most often applied to the cost of closing. If your offer is accepted by the seller, we should close on the home about 30 to 60 days after. This allows ample time for your mortgage financing.
Step 6 – Negotiate the deal
A lot of contracts aren't closed on the first offer, and it's widely common to receive a counter offer. Don't let this alarm you. We'll figure out whether or not to accept the counter offer, present our own counter offer, or decline the seller's offer and go on.
Market circumstances determine how aggressively we negotiate the deal.
In addition, we'll work within your financing constraints. And when it's all said and done, we'll create a deal that's best for you.
Step 7 – Secure a loan
Upon completion of the deal, you'll start working with your lender to close the loan.
This won't be a long process at all if you're pre-qualified, but you'll want to keep in close contact with your lender.
And I'll handle all the property information your mortgage lender will need to close the loan.
Step 8 – Close the deal
You'll get a Good Faith Estimate (GFE) of your closing costs from your mortgage lender within three days of getting your application.
The estimate depends on the loan amount, and RESPA requirements require that it has to contain all closing costs and fall within a precise range of accuracy. I'll examine the estimate and let you know if it all looks good.
Then it's time to close on your home. This should take place at a title company or escrow office and will probably be a smooth and comfortable event.
Step 9 – Move in
Success! Now you can move into your new home. Enjoy it. And if you need anything or have any questions, make sure you contact me at (949) 831-8855 or send me an e-mail.
