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If your planning on buying a home in Dana Point California or the surrounding communities, there are 6 steps that you should take. Following the below steps, will help to insure that you: 1.) use your time wisley, 2.) negotiaite the best possible deal, 3.) avoid buying a lemon.
1 - MORTGAGE PRE-APPROVAL: Before you start to go looking at homes to buy, you should definitely contact a mortgage lender or bank and get pre-qualified or pre-approved for a mortgage. This important step will determine how much money you can borrow to buy a home, and just as importantly, it will tell you how much of a mortgage payment you are comfortable with paying.
The Loan pre-qualification (pre-qual) is a simple process. It takes into account very basic information regarding your financial status and gives you an amount for which you may qualify. This can be done verbally or electronically over the Internet.
The Pre-approval is a much more involved process, but has more clout when making an offer to buy a house or condo. The lender will take all pertinent information regarding your finances and perform an extensive check on your current financial status. We can offer you several great references for lenders who offer a wide array of loan options with the best interest rates available today.
2 - SELECT A GREAT BUYERS AGENT: You've probably heard it before... but it's true - Choosing the right Real Estate Agent is a very important but often neglected step. Not all realtors are the same. Due to the high turn over rate in the industry, many agents are new and only have a few years of experience or sell a small number of homes each year. While some other agents may have a lot of experience but specializes in exclusively working with sellers in listing their homes. Often times these listing realtor specialists do not have the correct temperament to work effectively with home buyers.
We specialize in working with home Buyers and have many years of experience in Dana Point real estate. Our work ethic is one of patient vigilance. By this we mean, we are extremely patient with regard to your wants and needs. Some home buyers will find their perfect home in the first outing after previewing just 5 homes for sale, while other Buyers may take months, and view 30 or more homes before they buy the perfect home. We are aggressively vigilant with regard to canvassing the market everyday by analyzing each new listings that come on the market so we will never miss a good opportunity for you to buy.
3 - DETERMINE HOME SEARCH CRITERIA: Now that you know the price range of home that you can and/or want to buy, you can now begin the process of determining your housing needs. Should you buy a condo or detached house ? The detached home will usually have a bigger yard, and low to zero association dues as compared to a Dana Point Condo. But Condos are about 25% less expensive than a detached house for a comparable sized home with equivalent location. Also establish how many bedrooms do you need, proximity to work, living area, schools, parking needs, 1 or 2 story, etc.
4 - PRELIMINARY HOME SEARCH ON THE INTERNET: Today's modern technology allows you to search on the Internet for any home listed for sale in Dana Point. This is a great tool to assist you in buying the right home. With the home searching criteria you have established in the previous step, you can then visit our MLS home search webpage if you would like to begin searching for homes at any time. Also, we can set you up on our automated Just Listed internet technology which searches the Multiple Listing Service twice a day. If a new listing comes on the market for sale that matches your home buying criteria, our computer system will email complete details of this home(s) for sale to you to the comfort of your home or office.
5 - PREVIEWING HOMES FOR SALE: Once we have identified some homes listed for sale that match your criteria, we will set up an efficient home tour for you to view all of the properties listed for sale that match your criteria. We can show you about 8 to 15 homes in 4 hours or less. After one to three of these previews, we will have seen every home on the market for sale.
6 - CONTRACT TO BUY: Once we have found the perfect home, it's time to prepare an offer to Buy. Our years of experience will be valuable in getting you the price and terms that you desire. The standard DRE Purchase Agreement that is used to buy a home has changed dramatically in the past several years, to the advantage of the Buyer. We will make sure to use those advantages to negotiate favorable terms for you. The processing of buying a home takes about 30 to 45 days and this is typically referred to as the escrow period. During this time, we will have the opportunity to inspect the home, review disclosures from the Seller, examine reports from the Termite inspection company and the Home Owners Association (if any), and other disclosure documents. It is very important to hire a professional home inspector to inspect your home before you close escrow on the purchase. This house inspection report will contain details on all plumbing fixtures, faucets, electrical outlets, roof condition, appliances, floors, the exterior and much more.
Please visit the rest of our website other useful information about Dana Point and the other cities in south Orange County.
If you have any questions, please feel free to call Suzie Bindi anytime at (949) 351-3899. I'm easy to talk to, or send me an email at: Suzie@SearchOCHomes.com