Because a real estate purchase is one of the largest investments in your life, it is important that you select the right agent, know the neighborhoods, and thoroughly understand the real estate transaction process.
Step-by-Step Buying Guide
The idea of buying a home can be daunting, especially if you are a first time home buyer. Understanding the costs of home buying and home ownership, along with the buying process as a whole, are vital. But if you are working with the right agent, someone who can make buying both uncomplicated and easy to understand, the process can be a great one, and ultimately get you to your goal, of owning your own home.
Selecting the Right Agent
Born and raised in the Bay Area, I not only have a deep understanding of the real estate market and the subtleties of different neighborhoods, I have access to off-market listings as well as publicly listed properties. I have an excellent reputation among my peers, which has proved to be a valuable asset particularly when competing against other agents in multiple offer situations. It can also lead to cooperation in complicated transactions and can create streamlined and trouble-free closings.
Determining Your Budget & Getting Pre-Approved
Finding Your Desired Neighborhood/Community
Finding The Right Home
Making An Offer
In the competitive Bay Area real estate market, multiple offers on properties are commonplace. If we find ourselves in this situation, I may advise you on alternative strategies that will make your offer the most attractive to a seller and their agent, including the option of submitting an offer free of contingencies, which can often give a competitive advantage.
Negotiations can occur during the escrow process, particularly when there are contractual contingencies. The determinations of the bank appraisal, or conditions that emerge from a property inspection, may all have an effect on whether I advise that we renegotiate contract terms or ask for credit from the seller prior to closing.
The length of escrow can range in duration, depending on your mortgage lender and terms of the purchase contract, but in the Bay Area, on average, escrow closes somewhere between7 and 30 days.
On closing day, all escrow papers and loan documents are signed, and all money due is deposited into the escrow account. The deed to the property is then put in your name and given to the lending institution. The title company will register the mortgage and deed with the county courts, and when the title company receives confirmation that the deed has been recorded, you are officially the new homeowner and all funds due the seller, or seller’s lender, are released.
Congratulations, escrow is now closed and it is time to enjoy your new home!