|
Now that you´re ready to find a new home, there are a few steps you´ll need to take before you begin this wonderful adventure. Remember, your dream home could come along at any minute, so make sure you´re ready to make an offer when that time comes.
First, you´ll need to contact a lender and get pre-approved for your loan. You´ll also need to obtain a Lender Letter of Approval, which will be attached to your purchase offer. For this, I highly recommend Linda East of East Financial Services. Her contact number is (559) 435-5593. I have personally worked with Linda for a number of years and find her to be professional, highly knowledgeable, and a pleasure to work with. Plus, when you work with Linda, you´ll never incur any loan origination fees or discount points. She can take your loan application right over the phone--saving you time, frustration and money.
If you need the equity from your existing home in order to purchase, you may need to get your home on the market before you begin your search. Make sure your listing and any sale is contingent upon your ability to find suitable replacement property, that way you and your family won´t be out on the street! Most sellers will not take contingency offers from buyers who must first sell their home, as they need to know when their buyer is able to close escrow. Without the buyer´s home already sold, there is no guarantee to the seller that the buyer can actually close escrow within a given period of time. Another option is to list your home with the ability to rent back from the new buyer for a month or so. This will give you time to shop, plus you´ll have all your equity available. This situation places you in the strongest buying position.
Once you know what price range you qualify for and what your house payments will be, the next step is finding the right realtor. Since this is one of the most important purchases you´ll ever make, you want a realtor who will look out for your best interests, giving you the time and attention it takes to find the right home. Be diligent in selecting a realtor. Interview several candidates and always ask for referrals before you make a decision. You are not paying a fee for representation when you purchase, so find a realtor you are comfortable with.
Your realtor can set you up to receive automatic emails listing all of the properties that meet certain search criteria important to you (i.e., price range, neighborhood, size, bedrooms, etc.). This will give you the first pick of all the new listings, and you can view the inside and outside of these homes online, saving valuable time.
Once your offer is accepted, be sure to obtain the proper reports during your 17-day inspection window. A home inspection is critical, but you should also try to get a roof report and certification, pest report and certification, and pool report if necessary. Cover all your bases and check the home out very carefully before you close escrow. Once you´ve got all of that done, you´re ready to move in! Congratulations, and I wish you many happy years in your new home. |
