Are you planning on buying a home in America’s Finest City, or are you just wondering how the process goes? This buyer’s guide has been put together to help first-time homebuyers like you make better choices as you go about this potentially life-changing endeavor.
What you’ll need
- A real estate agent –Hire a good real estate agent with a proven track record in negotiating the best deals for his or her clients. Don’t just hire anyone. We are here for you.
- Money – Of course, you can’t buy a home if you don’t have the financial wherewithal to do so. Assess your financial situation to determine how much you can comfortably afford and how big a down payment you can come up with. Finding out the current state of your finances will also help you create a realistic list of must-have amenities and features for your next home. Once you’ve assessed your finances and gotten the necessary documents together, then you should shop around for a mortgage. It’s a good idea to get pre-approved for one first before you start shopping for a home.
- A must-have list and a wish list – Making a separate must-have list and wish list will enable you to set a clear path in your home search. Features and amenities in your must-have list are your non-negotiable ones, while those included in your wish list are open for compromise. From storage space, light fixtures, to windows and even paint, anything can be included in these lists.
Once you have the essentials, it’s time to get down to business.
- Look for a home. Look for current listings within your desired neighborhood through different resources – these days, you’ll find most of these online, though your agent may be aware of listings that are not on the open market. A market analysis will be prepared by us to determine if a house you’re interested in is priced reasonably.
- Make an offer. One of the simplest ways to tell the seller that you are a seriously interested buyer is to deposit earnest money. When you’re ready to make an offer, we will negotiate for you.
- Inspect and review. Hire a licensed inspector to thoroughly inspect the home you’re interested in. It’s a way to finding out if there are any undisclosed or underlying issues. Identifying these problems early in the process enables you to negotiate the repairs with the seller as soon as possible. Make sure to read the contents of your contract with seller as well as all the necessary paperwork. Review and ask questions for further clarification.
Close the deal. On the agreed date, you will be signing all the important documents such as the closing papers, loan documents, and settle payments. Once everything is deemed satisfactory by both sides and the deed is recorded, you should be handed the keys and deed to your new home. Congratulations and welcome to San Diego!