What You Need to Know About Buying A Home
There is so much that a buyer should know as they begin their journey, and we have found over the years that sitting down and going over all of these items up front makes for a smoother process for the buyer
They are more informed. know whats going to come next and alot of the specualtion and anxiety gets removed from the experience.
This is a simplified explanation fo everything that we cover once we sit down, either in-person or via zoom:
- How to get started
- Total costs for buyers when purchasing a home : buyers out of pocket expenses other than down payment
- Market conditions- IS THE MARKET COMING DOWN, WILL THERE BE FORECLOSURES?
- Are you familiar with?
Mello roos? Separate monthly fee from HOA (but counts against your dti) -Property Taxes -Supplemental tax bill - pre approval Vs. a prequal (did you know a bad lender that cant make timelines can get you kicked out of escrow
- Types of loans and down payments
- 10 commandments while getting a home loan (WHAT NOT TO DO, SO YOU DON’T LOSE THE HOME?)
- Searching for a home, many sites don’t have direct feed from MLS so your data can be old
- What are the different statuses (ie active, pending, under contract, accepting backup, coming soon, pre foreclosure)
- What’s a short sale, banked owned (or REO) third party approval
- Writing an offer, what can we ask a seller to pay for, what is included in the home, what is excluded Home warranty!
- How long is escrow period? Is it always 30 days?
- What is a earnest money deposit? How much do I woe for deposit and how soon?
- what is a contingency HINT :to protect you from losing your deposit and losing the home
- Getting your offer accepted..what’s next?
- Deposit, appraisal, inspections
- Asking seller to repair items, what can you ask for
- Your rights to cancel & Removing contingencies – Protecting your deposit so you don’t lose it
- Setting up Utilities
- Hiring movers, when &how do you get keys?
- After you move in and have issues who do you call?