Purchasing a new home in Coachella Valley with ADC Realty - Dr. Mohammed Karim
Buying a home is an intimidating event for a lot of people. However, with a little planning ahead of time, it's not very complex.
So they'll understand exactly what they can expect, I will supply buyers with an outline of the entire deal.
These are my nine steps to buying a home.
Should you have questions regarding any of this information or if you're ready to get started, simply contact me here or e-mail me at .
Step 1 – Get ready to purchase
There are plenty of things you should take into account prior to beginning your home search.
It's likely that you'll want to make an outline of items you want to have, get a plan of what neighborhoods and school districts you want to live in, and begin planning around your budget.
Ensuring your mortgage payment is less than a third of your monthly income is a good rule of thumb to follow.
Step 2 – Contact a real estate agent
This is where I can help.
I'd love to schedule a time to meet with you and talk about your real estate needs and get an idea of your upcoming plans.
We'll talk about neighborhoods, school districts in the Coachella Valley area, the mortgage industry, and any other economic factors that may potentially affect your buying decision today or in the future.
I can also help you begin the loan process.
ADC Realty - Dr. Mohammed Karim partners with some of Coachella Valley's best mortgage professionals, so you'll be in great hands.
They'll assist you in figuring out which kind of loan is best for you and help you get approved.
Step 3 – Begin your search
Following our first meeting, I'll start looking for homes on the market that suit your needs.
I'll get a sneak peek of most of the homes and throw out the bad ones, and then we'll set up appointments to tour the houses whenever it's most convenient for you.
As we tour the homes, I'll call attention to positive features, as well as bad ones. And I'll ask you about things you like and dislike.
As a rule, buyers revise their list of must-haves as we tour homes and some things become more crucial than others.
If such is the case, I'll look through all the listings again and narrow it down to the house you've been waiting for.
Step 4 – Know the market
Your agent's knowledge of the Coachella Valley housing market is a necessary aspect in your house search. And I can assure you I'm informed of all the school districts and neighborhoods, and I will alert you to certain districts are "hot" and call for immediate action and the ones that are "cool" and allow for thoughtful analysis.
When we tour houses, I'll let you know when the seller's list price has room for bargaining and also when I think the house is "priced to sell."
Be careful and be sure to ask your agent lots of questions, as any REALTOR will tell you they truly understand the home market.
If things don't add up, just call me at 7608941007 or e-mail me at , and I'll be more than happy to answer your questions. My market knowledge will help you stay a step above the rest through the entire deal.
Step 5 – Find your dream home
I'm certain we'll find your dream house in the Coachella Valley area. When we do, I'll thoroughly create your home purchase offer. The offer will be made to fit your needs and the home. We'll include several contingencies, such as obtaining financing, finishing the inspection, and a clear title.
When we present your purchase offer, you'll likely need to submit "earnest money." This is a cash deposit made to a seller to secure the offer to buy the property and is most often put towards the closing costs. If your offer is accepted, we should close on the home within 30 to 60 days afterward. This allows sufficient time for your mortgage financing.
Step 6 – Negotiate the deal
Most contracts don't close on the first offer, and it's extremely common to receive a counter offer. But don't let this discourage you. We'll consider whether or not to take the counter offer, propose our own counter offer, or decline the seller's offer and go on.
How aggressively we negotiate the deal depends on the state of the market.
In addition, we'll work within your financing constraints. And when it's all said and done, we'll compose a deal that's best for you.
Step 7 – Obtain a loan
Upon signing the contract, you'll start working with your mortgage lender to close the loan.
It shouldn't take very long at all if you're pre-qualified, but you need to stay in close contact with your mortgage lender.
And I'll look after all the property information your lender will need to close the loan.
Step 8 – Close the deal
Your mortgage lender will give you a Loan Estimate (LE) outlining closing costs within three days of taking your application. You'll get a Loan Estimate (LE) of your closing costs from your lender within three days of taking your application.
This estimate rests on the loan amount, and RESPA requirements order that it has to contain all closing costs and be within a precise range of accuracy. I'll study the estimate and let you know if it all looks good.
Then we'll close on your house. This should occur at a title company or escrow office and is often a smooth and peaceful occurrence.
Step 9 – Move in
Congratulations! Now you can move into your new home. Enjoy it. And if you need anything, simply call me at 7608941007 or e-mail me at .