Our agents are focused on helping you realize your goals, so that you will own a house that you will be proud to call home and excited to share with your friends, family and loved ones.
You’re ready to buy—or perhaps you're just thinking about buying. There’s are many things you can do to prepare. With all the information available now online on the internet, it’s a puzzle to know where to begin, so here is our easy to navigate guide on how to get started.
The first step is figuring out what you can spend on your new home. We recommend working with a lending professional who will work to get you pre-approved for a loan base on your credit history, income and assets. Getting pre-approved will allow you to fine tune your home search and when you do make an offer, it ensures that it will be taken seriously and is a strong one in the eyes of the Seller and their agent. If you are not working with a mortgage professional, we will be happy to recommend one to you.
Imagine your perfect home and then make a list of everything that you desire the most, such as the location, architecture of the home, and home many bedrooms and baths it has. Then filter that list into the highest-priority features that you must have and the lower-priority items that would just be the cherry on top. Use this list as a reference to help narrow your search online and with your agent.
Now that you know what your budget is and what kind of home you are looking for, it’s time to begin your search. You can download the Compass app and save search parameters, so you are alerted when a new property comes on the market that fits what you are looking for. Your agent can also send you homes to potentially see and arrange for showings once you are ready. Meanwhile, if you need some ideas, you can read the latest edition of Curated Magazine brought to you by Compass.
Buying a home will be one of the largest purchases you will ever make in your lifetime, so its really important that you have a professional real estate agent to help you every step of the way. Our agents are knowledgeable and understand the local market well. We are full-service and will provide you with that expert help that you need. Get in touch with an HHG | Compass professional today.
You have found the perfect home to make an offer on, so now what? This is the beginning of your journey into becoming a homeowner. Our agents will take you through this process and help you every step of the way, but in the meantime, here’s a guide of what you can expect.
At Compass advocating for our client is our utmost priority, as such, Buyers can count on us to negotiate the best price for your home purchase, set timelines that will help allow for ample time to finalize the sale, evaluate contingencies, repair costs and conditions to ensure that you receive the most favorable terms. We will hard and smart to represent you in your home purchase.
The buyer and seller enter into contract once the buyer’s offer has been accepted and if the sellers counter, if any has been accepted by the buyer. The purchase agreement and any counters outline the terms and conditions of the sale and is agreed upon and signed by both parties.
The Earnest Money Deposit (EMD) is a percentage of the home’s asking price that you agree to pay to an escrow account to show in good faith that you are serious about the purchase. The seller in turn agrees to take the home off the market. The amount is put towards the down payment, closing costs and overall selling price. In cases where you break the contract after releasing all contingencies and do not move forward on the purchase, you may lose that deposit to the seller.
After the Purchase Agreement is signed, your agent will help you hire a licensed and certified home inspector to do an inspection of the home’s structural integrity, signs of any water damage, signs of any roof damage, electrical systems, plumbing systems and HVAC systems. In addition, in California, a termite inspection is almost always necessary to check for any insect and pest infestation.
Depending on the terms of your Purchase Agreement and if you plan to get a loan, the next step is to get final loan underwriting approval. The lender will have to reevaluate your credit and income to make sure nothing has changed since your initial pre-approval, and they will need to examine the title history and appraised value of the home that you want to buy. During this phase it is important not to finance any other large purchases and/or apply for new credit accounts. It is important to work with a lender that will work for you in getting the best rate and terms possible.
Obtaining the title report is a critical step in any home buying process. It will tell you if the person selling it actually has the legal right to sell the property. The title report will also identify any issues in the chain of title, such as liens and judgments, problems with the legal property description, and other issues that could interfere with the transfer of ownership and you purchasing the home.
When you purchase your home, a neutral, secure and knowledgeable third-party should be facilitating the transfer of funds and related documents between you and the seller. This ensures the protection of all parties.
The closing is the final step of your home-buying journey, all legal documents required are signed by all parties to the purchase agreement, the remaining balance due of the home (after deposits) and closing costs are paid, and ownership is transferred from the seller to you and recorded to the county. After closing is finalized, the home is yours!
Henry Horn Group approaches every real estate transaction with the energy, creativity, and relentless determination to achieve our clients goals and earn their trust and satisfaction. Want to learn more? Contact Henry Horn Group Today!