Deciding to Buy?
Has your income grown?
Property ownership is an excellent investment; whether you are looking for your dream home, a rental property, or to expand your investment portfolio. Owning real estate is one of the least risky ways to build equity or to obtain a greater return on your initial investment.
Why do you want to buy?
Are you tired of paying rent? Have you decided to pay your own mortgage and not your landlord’s? Have you outgrown your current home? Are you looking for an investment portfolio? Are you looking for a rental property? Would you like a larger yard? Would you rather live in a different area? Do you want to shorten your commute? Having a clear sense of your reasons for buying will help you choose the right property.
The Buying Process
- SELECT A REALTOR. Maria Gracia is a full time, professional realtor with extensive knowledge of the Market. She will work together with you to find the right home for you.
- EVALUATE YOUR NEEDS AND RESOURCES. We will meet to discuss your needs and analyze your resources. Once we establish your needs, I will provide guidance to financial institutions where you can obtain information in order to get the best financing available.
- FINDING THE RIGHT HOME. Maria Gracia will show you homes based upon the criteria that we have established together.
- KNOWING THE SELLER’S MOTIVATION. Once we have found the home that you wish to purchase, I will do the necessary research to help structure a successful offer.
- WRITING THE PURCHASE OFFER. I will draft the “purchase Agreement” for you, advising you on protective contingencies, customary practices, and local regulations.
- THE OFFER. I will present your offer to the seller and the seller’s agent. The sellers have three options; they can accept your offer, counter your offer, or reject your offer.
- SELLER RESPONDS. I will review the seller’s response with you. Our negotiating skills and knowledge will benefit you in reaching a final agreement.
- OPENING THE ESCROW. When the purchase agreement is accepted and signed by all parties, I will open escrow for you. At this time your earnest money will be deposited. The escrow company will receive, hold and disburse all funds associated with your transaction.
- THE CONTINGENCY PERIOD. This is the time allowed per your purchase agreement to obtain financing, perform inspections, and satisfy any other contingencies to which your purchase is subject. Typical contingencies include:
- Physical inspections of the property.
- Loan approval, including an appraisal of the property.
- Pest inspection and certification.
- Approval of the seller’s transfer disclosure statement.
- OBTAIN HOMEOWNER’S INSURANCE. I will work with your insurance agent and escrow office to make sure your policy is in effect at the close of escrow.
- MAKE DOWN PAYMENT. You will need a cashier’s check or money transfer for the down payment several days prior to the closing date of escrow.
- CLOSE ESCROW! When all of the conditions of the purchase agreement have been met, you will sign your loan documents and closing papers. You will deposit the balance of your down payment and closing costs into escrow and your lender will deposit the balance of the purchase price. The deed will then be recorded at the County Recorder’s office and you will take ownership of your new home!