Complete Guide to Buying a Home in the Pandemic
We all know that life doesn’t stop, well the same goes for real estate. Whether its a buyers market or a sellers market, there is always a MARKET. Transactions are always happening.
Let us get into it!
Step 1: Getting pre approved for a mortgage; Round up your last 2 years worth of taxes, 30-45 days worth of pay stubs, any investments you have made, your bank statement for the last 60 days or quarter. The more you can provide the better. Please note if you do not have too much income to show you can always bring in someone to help, a co signer if you will. There are so many options out there for you. Do not be scared that you will not be approved, trust me.
Step 2: You are now Pre Approved, Lets go see some homes; You met with a lender and you were approved congrats! Well, based on our previous conversations where you mentioned that you want that perfect little house, with the garden in the front, that sweet pool in the back in that school district that you love. I create a list of homes for us to see, the best candidates. Some that are in our price range, some that need a little love but are below, and some that are drop dead gorgeous, but a liiiiiittttttttttle above. We then start a healthy conversation of the pros and cons of each one. Believe me its not as stressful as the tv shows make it. You will find the right one right away.
Step 3: We make an offer; After careful consideration and discussions, we have found the one and chose how much money to offer for the property. Now, I draft up the documents, I send it to you via email, you sign electronically and send it back. I then present it to the other side. Sometimes they accept sometimes they counter offer and thats when we counteroffer right back.
Step 4: Offer Accepted & Into Escrow; Congratulations! Woo! Our offer has been accepted and we are now going into escrow. Escrow basically holds the funds and ensures that the money and property go to who they are intended to go to. We are now doing all the necessary steps to reach the finish line. We also have home inspection. We bring an unbiased expert to asses the property of any damages, faults, leaks, creaks, and they create a report from it. Please not we have an X amount of days to do this.
Step 5: You are now the proud owner of your dream home!; Congratulations, see it wasn’t so bad. Now that escrow has closed and you have the keys to your new place, you can now relax. You will see that all the stress and worry you had before this process even started was for nothing. Its normal to be stressed/anxious of the unknown. Please know that this blog is to help you understand that it really isn’t that hard to own a home. You just need the right person next to you guiding you.
If you have any specific questions to your situation feel free to email, text or call.
Email: timrojas@nestseekers.com
Phone/Text: 909-994-0945