So, you've heard all about the amazing bargains that are up for grabs on the current property market. You've sat down and made some detailed calculations, and decided that now is the right time to dip your toes into the murky waters of home ownership. So, what next?
First, secure a loan. Once you have preapproval you will know exactly what you can afford, and therefore avoid wasting a lot of time looking at houses that are way outside of your budget. There are many types of mortgage and loans advisers out there, so take your time and shop around until you find the product that best suits your needs. Be patient, a hastily made decision at this stage could cost you dearly in the long run. And remember to take into account those 'extra' purchases, taxes, fees and so on, that are all part of buying a home. Allow yourself a comfortable safety net.
Once preapproved, take your time looking only at those homes that are priced well within your financial limitations. Knowing that you qualify for a loan, that will cover the cost of a preferred property, will help remove significant levels of stress from the whole house buying process. Both the seller and yourself will be comfortable that any offer you make is good, and a quick decision should help speed up the whole process.
Appoint a reputable real estate agent. Again, take your time here, as the level of service offered by agents can vary greatly. Most are certainly trustworthy and capable, but some will have specific strengths that may lend themselves better to your individual needs.
OK, you've looked at a number of properties and eventually found your dream home. After a little bit of haggling, you make an offer that gets accepted. But what comes next? How long will it take until you actually have those all important keys in your hands?
This will depend on a number of factors. The closing process can vary enormously from one state to another, and in some cases even within the same state. And there's the matter of escrow... esc-what? Ask your agent, your attorney, your parents - do your homework, and make sure that you are well informed on the issues that inform the closing process.
However, before you proceed with any payments make sure that you instruct a qualified home inspector to make a thorough inspection. This is essential. An experienced instructor will provide you with documentation that will describe the physical condition of the property and will identify any flaws, and issues that need to be dealt with. It may be that you need to renegotiate your offer should anything significant show up.
Assuming that the home inspector's report raises no significant problems, or any repairs that are identified are dealt with, you can then make a payment and sign those all-important documents. All you need to do now, is collect the keys from your estate agent, go buy a bottle of something cold and fizzy, and head over to your new home and start unpacking your boxes and making yourself comfortable!
Author Resource:-
Everything you need to know about homes in Santa Cruz is right here at MySantaCruzRealEstate.com. Lauren Spencer, Coldwell Banker Realtor will be glad to answer your questions about Jewel Box CA real estate.
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