Buying your new home in San Diego County with David "Opportunity" Knox of RC Realty

With a little planning ahead of time, buying a home isn't too hard, but it still is stressful for a lot of people. So you know exactly what to expect, we like to supply our buyers with an overview of the whole deal. Below are our nine steps to purchasing a home.

Step 1 – Prepare to buy
There are several things you need to contemplate before you look for a home. When you begin your search, you'll want to create an outline of items you want, plan for what neighborhoods you want to live in, and start working on your budget. Keeping your mortgage payment around 1/3 of your monthly income is a good rule of thumb to go by.

Step 2 – Contact a real estate agent in San Diego
That's where we come in. We'd love to plan a time to meet with you and talk about why you want to buy a home and get an idea of your upcoming plans. We'll discuss everything from neighborhoods, school districts in the San Diego area, the mortgage industry, to any other economic factors that could affect your buying decision today or in the future.

In addition, we'll assist you in getting started on your loan. There are some excellent mortgage professionals in San Diego, and we partner with a lot of them, so you'll be in great hands. They can assist you in figuring out which type of loan is best for you and help you get approved.

Step 3 – Start your search
After our first meeting, we'll start searching for available houses on the market that are a great fit for you. We'll preview many of the homes and eliminate the bad ones, and then we'll schedule appointments to tour the houses when it's most convenient for you.

When we tour homes, we'll call attention to positive features, as well as negative ones. we'll even ask you about things you like and don't like. Frequently, buyers revise their wish list as we view homes and some features become far more crucial than others. If that's the situation, we'll look through the listings another time and trim it down to the home you've been waiting for.

Step 4 – Understand the market
Our knowledge of the San Diego home market is a crucial resource in your house search. We're acquainted with all the neighborhoods and school districts, and we will let you know some districts are "hot" and demand immediate action and the ones that are "cold" and allow for careful consideration.

When we tour homes, we'll let you know if the list price has room for negotiation or if I believe the house is "priced to sell." When working with an agent, be careful and make sure you ask a lot of questions, as every REALTOR^® in San Diego will claim to comprehend the home market. If it appears they don't know everything, contact us at 619-861-5669 or e-mail us at opknox@opknoxre.com, and we'd be more than happy to answer your questions. Our understanding of the market will keep you a step ahead throughout the entire process.

Step 5 – Find your dream house
We know we'll find your dream house in San Diego. When we do, we'll carefully develop your purchase offer. The offer will be tailored keeping your needs in mind, including some contingencies, such as acquiring financing, finishing the home inspection, and a clear title.

When we turn in your purchase offer, you'll want to present "earnest money." This is a cash deposit submitted to the home seller to secure an offer to purchase the property. The amount is typically applied to the closing costs. If the seller accepts your offer, we should close on the property within 30 to 60 days after. This allows ample time for your mortgage financing.

Step 6 – Negotiate the deal
Most contracts aren't closed on the first offer – it's very common to receive a counter offer. Don't let it alarm you. We'll talk about whether or not to agree to the counter offer, propose our own counter offer, or reject the seller's offer and go on.

The state of the market will play a large role in how aggressively we negotiate the deal. We'll also work within your financing constraints. And when it's all said and done, we'll assemble a contract that's best for you.

Step 7 – Obtain financing
After the contract is signed, you'll start working with your lender to close the loan. If you've been pre-approved, this shouldn't take much time at all. But you should to keep in close contact with your lender. And we'll handle all the property information your mortgage lender will need to close the loan.>

Step 8 – Close the deal
You'll get a Loan Estimate (LE) detailing closing costs from your lender within three days of taking your loan application. This estimate rests on the loan amount, and RESPA requirements mandate that it has to involve all closing costs and be within a precise range of accuracy. we'll analyze the estimate and let you know if everything looks okay.

Then we'll close on your home. This will most often take place at a title company or escrow office and will likely be a smooth and stress-free occurrence.

Step 9 – Move in
You made it! It's time to move into your new house. Enjoy it. And if you need anything or have any questions, simply contact us at 619-861-5669 or send us an e-mail.