Home Buying Process in California
Buying a house can be one of the most exciting moments of your life. Whether it is your first home, your second, or you are purchasing a home as an income property, it can be a huge milestone that gives you a big sense of accomplishment. It can’t be denied though that the home buying process can be somewhat intimidating. There are a lot of rules, regulations, and issues that you as a future homeowner want to be aware of and conscious of.
Gerry Goodman, one of California’s most experienced real estate agents will break down here step by step what the Home Buying Process in California to ensure that you don’t miss anything important:
Understand Your Finances
Before you even think about going through the process of buying a house, make sure you have a full handle on your finances. With home ownership, you never want to live beyond your means and become “house poor”. Always work with your bank or mortgage lenders to consider your income, spending habits, and other financial obligations before deciding upon your budget for your home.
Find an Expert
Trust is imperative to the relationship between a real estate agent and their client. Experienced real estate agents like Gerry Goodman understand the needs of future homeowners and work tirelessly to ensure that the best interests of the client are maintained throughout the process for buying the house.
Efficient House Hunting
The California real estate market has so much to offer in terms of options for buying a house that it can be overwhelming and time-consuming when you’re going through the process of buying a house. Enlisting an expert real estate agent ensures that you are looking only at the houses that fit within your budget and that meet your personal wish list.
Make an Offer
Making an offer in California does not require the potential buyer to follow through with the purchase of the home. When you enlist the services of your expert real estate agent in the process of buying a house in California, they will help you put together a reasonable offer that contains conditions for which your offer is dependent. Failure to meet the conditions of the offer leaves the buyer free and clear of the potential home. Experienced real estate agents can help their clients understand the terms and conditions of making an offer on a new home. They will explain the reasons for certain conditions and will be your guide through this whole process of buying a house.
The negotiation process when buying a house can be tense and leave potential buyers on pins and needles. Sellers often counter offer on price, and multiple offers may be in at one time, making it a true gamble when moving towards buying a house. Your experienced real estate agent will help in the negotiation process, understanding what is considered reasonable in the negotiation, using strategies that will help you with a competitive edge over other potential buyers. Once the seller and buyer have come to an agreement, and all conditions of the offer have been met, the sale may take place.
Before you can purchase and take possession of your home, you will need to ensure that you have adequate homeowners insurance. This proves your investment in your home and in its protection. Depending on the area of California in which you live, you may want to talk with your real estate agent or insurance broker about your options for insurance protection. While most commonly insurance policies cover against theft, damage, and liability, some areas of California may be more prone to earthquakes making other types of homeowners insurance a necessary consideration.
Close the Deal
The period of “escrow” is a period of typically 30 days in which all financial transactions are finalized. During this time, all taxes, laws, and requirements are double checked, and the new owner has a final walk through to ensure all conditions of the purchase have been maintained. Escrow periods can be negotiated depending on the needs of the seller or buyer. Once the escrow period has completed, the financial transactions have been processed, and all paperwork is signed, the new homeowners get their keys to their house, and are now able to make that house a home.
The process of buying a home is exciting but overwhelming at all stages of the process. Enlisting expert services in the processes will ensure that you get your money’s worth and purchase a property that is everything you are looking for, and within your budget. Contact Gerry Goodman today to talk about your interests in the home buying process in California and be guaranteed one of California’s most experienced real estate agents will find you the perfect home.