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Home Buying Tips
Home buying is probably the biggest financial
commitment you'll ever make. Buying a home is not just a dollars-and-cents
investment; it's an investment in your life. It will create
a sense of stability and identity and a place that you can
call your own.
To assist you in the process, we have everything you need
– from a basic step-by-step overview to a property comparison
checklist. So whether you're a first time home buyer or need
a brief real estate buying refresher, let us help you through
it all. And most importantly, ask questions. This is your
investment and your choice. Never be afraid to ask us questions,
that is why you are working with professionals!
First and Foremost
It is a common misconception that all Realtors work very little
and get paid a lot. While there may be a few exceptions to
this, most Realtors work almost everyday, 7 days a week, and
are available at almost every hour. There are no guarantees
and plenty of competition. Realtors are not paid until
the deal closes regardless of how many hours, days
or months they may spend with a client. Remember, as a Realtor
we are your agent and we are working for you. All we ask is
the same level of commitment in return. Working with integrity
and trust is essential to having a smooth and successful buying
experience.
Property Finder.
Our MLS Property Search tools provide all the detailed property
information for all the homes on the market. We will do our
best to find every property in your price range that is on
the market. In your driving around and searching on your own,
you may come across a property that was sent by us. Please
call us for more information. It is possible that the information
is old and inaccurate or simply unavailable. We are here to
find out the details for you and facilitate your home buying.
Preparing to Buy a Home?
To find out what you can afford, you will need to take a quick
look at your finances and what mortgage payments you can afford.
You will also need to consider the benefits of equity, what
tax advantages you have as a home owner, and be pre-approved
for your home loan. Improve your FICO score. Improve your
credit before you buy, not when you have an offer accepted!
Working With a Lender.
It is imperative to your home buying process that you discuss
your finances with a lender before your start looking!
You need to know how much you can afford so you don't waste
time and have unrealistic expectations. A lender should:
- Run your credit.
- Tell you where they think you could
improve your FICO scores (the higher the FICO,
the better the loan terms you can obtain). If they
do not tell you, ask them!
- Ask you about your financial situation, what
your income is, how much you have saved, etc..
- Give you an estimate of what your mortgage
payment would be, based on various down payment and length
of loan terms. Keep in mind that this is usually an estimate
and is limited to varying factors; some of which are: a
change in credit scores, verification of funds, availability
of loan programs and interest rate changes.
Making A Strong Offer and its Acceptance.
Not all offers are the same and not all agents writing
offers are the same. IT CAN COST YOU LOOSING YOUR
DREAM HOME (EVEN IF YOU ARE WELL QUALIFIED) DEPENDING ON HOW
WELL THE OFFER IS WRITTEN! It is extremely important
that your Realtor knows the purchase agreement backwards and
forwards, and clearly communicates with the listing broker
about what they are looking for. A sloppy, unexpected offer
is much less credible to the seller of a property when there
is a clear, concise and well communicated offer competing
with it. A professional will put together a professional offer
package. If you have any questions about the offer, ask!
What Happens After My Offer Is Accepted?
While writing the offer we will explain to you the different
elements that are key in negotiating strong terms and allowing
for flexibility. You will have a number of disclosures and
items to investigate during your contingency period. Understanding
title insurance and the closing process will help you make
better home buying decisions. We will walk you through and
help you with the details!
Our Commitment to You
Our Commitment.
We are full time professional agents; we are educated in the
legal aspects of real estate practice and licensed by the
state of California to provide real estate services. As members
of the California, National Association of Realtors as well
as the Pasadena Foothill Association of Realtors we abide
by a strict Code of Ethics to provide you with the highest
level of service. As associate agents, we are part of one
of the strongest networks of professional Realtors. We earn
our living by serving the needs of home buyers and sellers
with integrity.
Working With A REALTOR®.
There are clear benefits to buying or selling a home with
a licensed Realtor. A Realtor is a professional in a field
in which most people have a limited knowledge about. If you
go to a doctor you want a Licensed Medical Doctor. If you
are making the biggest investment of your life, you want a
Licensed Realtor. It is very important to choose a real estate
agent who will negotiate aggressively for you, understand
how to protect you as much as possible from risk and understand
your individual needs.
Skilled Service
A large part of our work is performed "behind the scenes";
previewing homes, researching comparable sales, gaining market
knowledge, evaluating changing legislation, and maintaining
our credentials. For every hour we spend showing you homes,
we will have spent up to ten hours preparing. We are constantly
acquiring new information that will help us to better serve
you.
How We Are Compensated
We are not paid a traditional salary; we work entirely on
commission, which we receive only if we initiate and complete
a transaction for you. We are compensated only when all of
your needs have been satisfied and you take ownership of your
new home. All of the services we provide are uncompensated
unless you purchase a home through us. Real Estate commissions
traditionally are paid at the close of escrow from the seller's
proceeds.
Your Commitment to Us
We will invest substantial time and effort in locating your
home, and will represent you with unequaled integrity throughout
the purchase of that home. In return, we request your loyalty:
a commitment that you will work with us, exclusively, in selecting
and purchasing your home.
Putting Us to Work for You
If you see any home that interest you, ask us about it. Whether
it is advertised by sign, in the newspaper, a "For Sale By
Owner," or listed with another agent, or not even on the market
- We are able to best represent you in the pursuit of the
property.
If you have any questions about how we work,
please ask. Our professional relationship is critical to the
successful purchase of your home.
The above information is purely for reference
and basic home buying information. As Licensed Realtors we
are not Attorneys, CPA's, Mortgage Brokers or Contractors.
We recommend the assistance of other professionals for items
you do not understand or are beyond the scope of our expertise.
All information is deemed reliable but is not guaranteed.
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