How To Buy A House

1. Wants And Needs
When considering the purchase of home it can be helpful to first focus on your wants and needs. The needs of your family are often a primary concern. For example, the number of people living in your household will influence the number of bedrooms and bathrooms required. Assess your kitchen and dining needs. Is a family room important? How about a garage, yard or pool? With a clear understanding of your needs and other "must have" features, you can begin to formulate the criteria for your property search.

2. Location
Where will you be moving? Consider work locations, schools, facilities and neighborhood amenities that are important to you and your family. Determine the areas that are suitable where the right kind of homes are available. Knowing where you are going is an important part of moving!

3. Timeframe
When would you like to move? Is there some event or occurrence that is influencing your decision to buy a home? Understand that finding the right home may take some time. Even after you have located the home and negotiated an accepted offer, the Escrow process of inspections, disclosures, appraisal, title considerations and more may take another month or longer. Plan your timeframe to achieve a comfortable schedule.

4. Financing
Planning the financing for a real estate transaction can have a positive impact on the entire process. Nowadays the options for financing a home are numerous and changing from time to time. Interest rates, down payment, credit score and available loan programs are all factors. A good real estate agent can help you sort through your choices. By planning ahead you can be preapproved for financing which lends credibility to offers that you make and helps your transaction to go smoothly.

5. Home Search
With your needs, location, timeframe and financing plans intact or at least in progress you can begin to confidently and seriously consider homes that meet your criteria. You will want your real estate agent to show you homes so you can experience their interiors and exterior surroundings in person.

6. Make An Offer
When you find what you are looking for it's time to make an offer. Your offer will typically include not only the price you are offering but other important terms and conditions as well. The guidance of a professional real estate agent is strongly recommended at this stage.

7. Negotiation
Typically, a seller and the seller's agent will review an offer and either accept the offer, reject the offer or make a counter offer. A counter offer continues the negotiations that can involve price, time schedules, financing, inspections and much more. Eventually when an agreement is reached the result is an accepted offer that leads to the beginning or "opening" of Escrow.

8. Escrow
When an offer is accepted the Escrow process typically begins. It is during this time that details of the sale are handled through a process that may vary according to local customs. Often inspections and appraisals are arranged, repairs may be requested and performed, title insurance is arranged, financing is finalized, contingencies are removed, taxes are prorated and more. Proper management of essential formalities and paperwork is vital to ensure that the transaction goes smoothly and complies with local, state and federal laws.

9. Closing
When all the detail work of Escrow has been done the transaction can then be completed. Typically, in a process influenced by local customs, the real estate transaction is recorded in government records, the seller is paid, you become the new owner of the home and the transaction is "closed"

10. Get Expert Advice & Assistance
Team up with a professional real estate agent who can help with all the details like property search, writing offers, negotiations with sellers and their agents, disclosures, appraisal, title insurance and more.

Would you like more information?

"I will be happy to help with your real estate plans"

Call Now! 818-219-4531 or Email gcc@sfvreal.com

Glenn "Cy" Caruso, REALTOR®
CA DRE License #01700944
Rodeo Realty