Home buying information to help home buyers buying homes in San Diego north county.
Carlsbad homes, La costa homes, Oceanside homes, Carmel Valley homes, El Cajon homes.
Home Buying - Step by Step |
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a REALTOR / establish a relationship Select a professional REALTOR® with extensive market knowledge. She/he will work closely with you to find the right home. • Initial consultation Your REALTOR® will meet with you to discuss your needs and analyze your resources. Through this interview process they can obtain information regarding the property you seek and your financing needs. Once your criteria is established your search will be more successful. • Determine Seller's motivation Once you have found the home, your REALTOR® will help you structure an effective offer. • Write offer to purchase Your REALTOR® will draft the Purchase Agreement for you, advising you on protective contingencies, customary practices, and local regulations. At this time you will need to provide an "earnest money" deposit, usually 1% to 3% of the purchase price. • Presentation of offer The Seller has three options: they can accept your offer, counter your offer, or reject your offer. Your REALTORS® personal knowledge of your needs and qualifications will enable your REALTOR® to represent you in the best way possible when presenting your offer. • Seller's response Your REALTORS® negotiating skills and knowledge will benefit you in reaching a final agreement. • Open escrow Upon acceptance and signatures by all parties, your "earnest money" will be deposited in escrow. All other funds will be received and disbursed by your title insurance company. • Contingency period During this time period, we obtain financing, have the necessary inspections, and satisfy any other technicalities cleared, such as: •Approval of the Seller's Transfer Disclosure Statement •Approval of the Preliminary Report from the Title Company •Loan approval, including an appraisal of the property •Physical inspections of the property including pest inspection and certification •Environmental Hazard & Geological Reports •Various additional inspections • Homeowner's Insurance Coordinate with your Insurance Agent and Escrow Officer to ensure your policy is in effect at close of escrow. • Down payment of funds Your payment is required several days prior to the closing of escrow. • Close of escrow When your Purchase Agreement conditions have been met: your lender will deposit loan proceeds with the title company, who will then dispurse sellers' proceeds and you will take ownership of your home.
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