Are you contemplating purchasing a home in Santa Barbara? Goodwin & Thyne Properties can help.
For most people, purchasing a home is a stressful event. But with a little up-front planning, it isn't very complicated.
So they'll know exactly what they can expect, I like to furnish buyers with an outline of the entire deal.
Below are my nine steps to purchasing a home.
When you're ready to get started, you can contact me here or e-mail me at . I'm glad to answer questions you have about this information.
Step 1 – Get ready to purchase a home
Before you commence your home search, there are plenty of things you should take into account.
It's likely that you'll want to form a check list of items you need, plan for what school districts you want to live in, and start planning your budget.
Keeping your mortgage payment less than or around 1/3 of your monthly income is a good rule of thumb to go by.
Step 2 – Contact a real estate agent in Santa Barbara
That's where I come in.
I'd love to arrange a time to meet with you and communicate with you about why you want to buy a home and get an idea of your plans for the future.
We'll talk about the mortgage and housing industries, other economic factors that could potentially affect your purchase today or in the future, as well as neighborhoods and schools in the Santa Barbara area.
I'll also help you get started on your loan.
I work with some of the finest mortgage professionals in Santa Barbara, so you'll be in great hands.
They'll help you figure out which kind of loan is best for you, as well as help you get approved.
Step 3 – Begin house hunting
Following our initial meeting, I'll begin looking for available homes on the market that are a great fit for you.
I'll preview most of the homes and throw out the bad ones, and then we'll book appointments to tour the homes when it's most convenient for you.
As we tour homes, I'll call attention to good features, as well as negative ones. I'll also ask you to tell us about things you like and don't like.
Usually, buyers revise their must-have list as we view houses and some items become more substantial than others.
If such is the case, I'll search the listings another time and narrow it down to the house you've been wishing for.
Step 4 – Know the market
Your agent's awareness of the Santa Barbara market is a leading factor in your house search. And I assure you I'm familiar with all the neighborhoods and schools, and I can alert you to which neighborhoods are "hot" and call for immediate action and others that are "cool" and allow for more examination.
When we view houses, I'll make sure to communicate when the seller's list price has room for bargaining and when I trust the home is "priced to sell."
Trust your instincts and make sure you ask a lot of questions, as every real estate agent will tell you they know the market.
If things don't add up, contact me at 805-899-1100 or e-mail me at , and I'll be more than happy to answer any questions you have. My knowledge of the market will keep you a step above the rest through the entire deal.
Step 5 – Find the home of your dreams
I'm confident we'll find your dream house in the Santa Barbara area. When that happens, I'll carefully create your real estate purchase offer. The offer will be tailored with your needs in mind and the home, including several contingencies, such as acquiring financing, carrying out the inspection, and a clean title.
When submitting your offer, you'll probably want to submit "earnest money." This is a cash deposit submitted to the home seller to secure an offer to purchase the property, and it's often applied to the cost of closing. If the seller accepts the offer, we should close on the property within 30 to 60 days afterward. This allows enough time for your mortgage financing.
Step 6 – Negotiate
A lot of contracts aren't closed on the beginning offer, and it's extremely common to receive a counter offer. Don't let it intimidate you. We'll consider whether or not to agree to the counter offer, submit our own counter offer, or refuse the seller's offer and go on.
Market circumstances will play a part in how aggressively we negotiate the deal.
In addition, we'll work within your financing budget. And when it's all said and done, we'll create a contract that works well for you.
Step 7 – Obtain a loan
Once we sign the final deal, you'll begin working with your mortgage lender to close the loan.
This won't take long at all if you're pre-qualified, but you'll need to stay in close contact with your lender.
And I'll handle all the property information your lender needs to close the loan.
Step 8 – Close the deal
Your lender will furnish you with a Loan Estimate (LE) detailing closing costs within three days of receiving your application. You'll get a Loan Estimate (LE) of your closing costs from your lender within three days of accepting your loan application.
This estimate is formed from the loan amount, and RESPA requirements require that it has to involve all closing costs and fall within a tight range of accuracy. I'll go over the estimate and let you know if it all looks adequate.
Then we'll close on your house. This will probably occur at a title company or escrow office and should be a smooth and easygoing 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 805-899-1100 or e-mail me at .