{"id":103,"date":"2024-08-12T01:13:32","date_gmt":"2024-08-12T01:13:32","guid":{"rendered":"https:\/\/melvincobb2008.com\/website_3477ecee\/?page_id=103"},"modified":"2024-08-12T05:19:05","modified_gmt":"2024-08-12T05:19:05","slug":"buyers-info","status":"publish","type":"page","link":"https:\/\/calpropertydiva.com\/website_3477ecee\/buyers-info\/","title":{"rendered":"Buyer\u2019s Info"},"content":{"rendered":"\n
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Buyer’s Info<\/h1>\n\n\n\n

A home is probably the biggest financial investment you\u2019ll make in your life. So before you get started looking at homes and imagining yourself in them, do some homework. Use this Buyer\u2019s Guide as a primer to help you as you hunt that home of your dreams.<\/p>\n\n\n\n

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Determine How Much You Can Afford<\/h2>\n\n\n\n
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Well before you\u2019re ready to plant that \u201cFor Sale\u201d sign in your front yard, there is work to be done to prepare your home for sale. Remember how keen your eye was to every small detail and defect in the houses you saw as a buyer? Now that door to your bedroom that never quite closed properly or that leaky faucet that you never got around to fixing will be seen by a potential buyer with that same keen eye. Start making the obvious repairs today \u2013 even if you don\u2019t plan to sell until a year from now. These repairs can cost money and take time. Plus fixing it now will allow you to enjoy the results before it\u2019s time to move out.<\/p>\n\n\n\n

If you plan on doing some improvements before the sale, the best place to start is where the buyers start: at your curb. Potential buyers base a large part of their decision on a property\u2019s \u201ccurb appeal,\u201d so make yours say something positive.  That means a tidy front yard, a house with well-painted trim, a clean and neat driveway and a clear, welcoming front walkway Inside, the biggest return on your investment continues to be improvements to the kitchen, followed closely by improvements to the master bedroom.<\/p>\n<\/div>\n\n\n\n

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\u2022 Earnest money, usually one to five percent of the cost of the house, which you pay as a deposit on the house when you submit your offer. It\u2019s your proof that you\u2019re a serious buyer. <\/strong>

\u2022 Depending on the laws in your state, you may be able to get this money back should you decide not to purchase the house, but you must make this decision within about two weeks of paying the earnest money.<\/strong>

\u2022 Your down payment (this is different than earnest money), usually 10 to 20 percent of the cost of the house, which you must pay at closing. <\/strong>

\u2022 Understand that in today's tighter credit market, more mortgage brokers are leery of approving a mortgage for potential homeowners who don't have 10 or 20 percent available for a down payment.
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\u2022 Mortgage insurance. If you can't make a down payment of at least 20 percent, mortgage lenders charge you extra insurance. This is also known as private mortgage insurance, or PMI.
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\u2022 Closing costs, usually three to four percent of the cost of the house, to pay for processing all the paperwork.<\/strong>

In addition, as you research whether you can afford to purchase a home, don't forget to include the day-to-day expenses you'll incur. This includes.<\/pre>\n<\/div>\n\n\n\n
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\u2022\u00a0Utilities<\/strong><\/p>\n\n\n\n
\u2022\u00a0Homeowner or condo association dues<\/strong><\/p>\n<\/div>\n\n\n\n
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\u2022\u00a0Property taxes (mentioned above)s<\/strong><\/p>\n\n\n\n
\u2022\u00a0City or county taxes<\/strong><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n\n\n\n
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Shop for a Home<\/h2>\n\n\n\n
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House hunting can be both exciting and frustrating. You should plan on seeing at least 10 homes before buying one. To make your search easier and faster, browse properties on the Internet. You can do so on my real estate home page. Clickon the “Search For Homes” link and you will have access to the same data as Realtors from Burbank to Thousand Oaks in Los Angeles County. For Ventura County Property information ,click on the link “Here” on my homepage. This information is up-to-date and accurate. Other real estate websites do not provide up-to-date data and lag behind my site. The Internet is a quick way to see whether the houses that are currently available meet the following critical criteria: are they in the right location, with the right features and at the right price.<\/p>\n<\/div>\n<\/div>\n\n\n\n
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If you find after your search on my website that few properties meet your needs, you may want to readjust your criteria \u2013 change the location, features, price \u2013 to increase your chances of finding a house that works for you. If you have any difficulties in this initial search, feel free to contact me for assistance. Homes can become available instantly and I’m always the most current resource for up-to-the minute information on new home listings. Once you know what you want, where you want it and what you can afford, it\u2019s time to start looking for a real estate agent or Realtor so that you can see different houses for yourself. Before you and an agent\/Realtor go to the homes, it’s a good idea to put together a checklist of things that you\u2019ve decided ahead of time are important qualities of your future home.<\/p>\n<\/div>\n\n\n\n
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This might include:<\/p>\n\n\n\n
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\u2022 Is there enough room for your family to grow in the house?<\/strong><\/p>\n\n\n\n
\u2022\u00a0Is the house structurally sound?<\/strong><\/p>\n\n\n\n
\u2022 Is the house in move-in condition or will it need work?Is the house in move-in condition or will it need work?<\/strong><\/p>\n\n\n\n
\u2022 Is it close enough to everyday needs, such as grocery stores, schools, work?<\/p>\n\n\n\n
\u2022\u00a0Will you feel safe here?<\/strong><\/p>\n<\/div>\n\n\n\n
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\u2022\u00a0Do any appliances included in the home work?roperty taxes (mentioned above)s<\/strong><\/p>\n\n\n\n
\u2022\u00a0Is the yard right for your needs?<\/strong><\/p>\n\n\n\n
\u2022\u00a0Do you like the floor plan?<\/strong><\/p>\n\n\n\n
\u2022\u00a0Is there enough storage?<\/strong><\/p>\n\n\n\n
\u2022\u00a0Will you be happy in this house in winter, summer, spring, fall?<\/strong><\/p>\n<\/div>\n<\/div>\n\n\n\n
This can be just the beginning of the negotiation process. The seller has three options: accept your offer, counter your offer, or reject your offer. I’ll strategize with you on the best way to present your offer for a good outcome.<\/p>\n\n\n\n
Begin Contingency Period<\/h2>\n\n\n\n
When your offer has been accepted, the contingency period begins. This is time that allows you to obtain financing, perform inspections and satisfy any other contingencies of your purchase agreement. Obtaining financing might include loan approval, which will include an appraisal of the property. Also be prepared to make your down payment, which is usually due several days before the close of escrow. Now is the time to schedule a professional inspection of the property; it is one of the best safeguards you can take before buying.<\/p>\n\n\n\n
A home inspector should check (and may give you a rough price for repairs on) the electrical system, plumbing and waste disposal, the water heater, insulation and ventilation, water source and quality, pests, foundation, doors, windows, ceilings, walls, floors and roof. Keep in mind that the inspector isn\u2019t there to tell you whether you\u2019re getting a good deal. He or she is there to give you an educated opinion on whether the house is structurally and mechanically sound and fill you in on any repairs that are needed.<\/p>\n\n\n\n
Buy Homeowner\u2019s Insurance<\/h2>\n\n\n\n
A paid homeowner\u2019s insurance policy is required at closing. I will help make sure your insurance company and your title officer are working together to put your policy in effect by the close of escrow. But, if you get your insurance agent involved early in your home-buying process, he or she also may help point out ways to help keep your insurance premiums lower.<\/p>\n\n\n\n
Complete Settlement or Closing<\/h2>\n\n\n\n
When the property you\u2019re buying has been inspected and you\u2019ve had your final walk-through of the property to see that all contingency conditions \u2013 such as final repairs made by the seller — have been met, it\u2019s time to face the paperwork. You will be signing loan documents and closing papers, paying the balance of your down payment and closing costs. This is the day you get the keys to your new home. Congratulations!<\/p>\n\n\n\n
Feel free to contact me any time if I can be of any service!<\/a><\/p>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"
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