DeLuca Real Estate Knows One Thing
We know an educated buyer will have an edge over the competition in this competitive real estate climate.
There are steps involved along the path to becoming a homeowner that always remain constant. These steps are necessary and must be done in order. It Begins with the pre-approval process. Yes, that dreaded, get out your tax returns, and bank statements and credit reports...
It's all worth it because in the end, you will have a beautiful home with your name on the front door
It's not scary
it's not just for the elite
You Can Do It
Sit down, take notes
Let's get you ready to buy a home.
Let our experience work for you. We will offer guidance to help you understand the local market. While giving you powerful tools and knowledge
Be informed, prepared and know what to expect and when to expect it... (Hey, we get it, you don't do this every day )
Ready to take the path to homeownership?
A team always out performs an individual. Together we build a winning team for you!
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Where Do I Start?
1. Do I need to be pre-approved for a loan?
In a word YES! (Unless you have saved a lot of cash).
I know, it sounds overwhelming, tax returns, bank statements, pay stubs, credit scores...relax, we've got your back.
2. Let's Go Shopping
Hold on partner, we need to discuss a few things first, we need to have a plan, understand your lifestyle, budget, goals, let's not put the cart before the horse.
Take a moment, answer the questions below.
This is important so think about your answers.
Questions to ask your REALTOR:
- Is it a buyer's Market? or A Seller's Market?
- How Much Have Comparable Houses Sold For In The Last 90 Days?
- Are Houses Selling At, Above, or Below List Price?
- Are Properties Receiving Multiple Offers?
- Understand The Seller's Perspective In Pricing
- What are the average Days On The Market
- How Much Is Too Much?
- The Art Of Negotiation
- How often will we communicate?
- Will You look for houses that fit my criteria that are off market?
MAKING AN OFFER
You found it! so now let's make an offer but what do we need to do to make sure our offer is strong? How do we know how much to offer? What is someone outbids us?
1. Don't Get Emotional - it's just a house you don't want to get emotional and pay too much so keep your wits about you. ( I won't let you pay too much anyway).
2. Be Realistic - Please listen to your REALTOR, if a property is priced well and within the comps, you are not going to be successful if you make a lowball offer. It is not the way to find the seller's bottom line, it is only going to annoy them. If you are serious about purchasing this home, make an offer at the absolute price you will pay. Maybe leave a little room for negotiation, but if there are multiple offers, you may not get a chance to counter.
3. What To Take Into Consideration - Condition, location, age, lot size, let's say the house is going to need a new roof soon, it is reasonable to take that into consideration when making an offer as it will be an expense you will need to cover, but if the property has a brand new roof, brand new kitchen, and new landscaping, the seller is less likely to take as much off of the price. This is the discussion you have with your realtor looking at the comparables, condition and what your bottom line will be. You don't want to be upside down as a rule.
4. The Big Picture - What is your goal in the big picture? Does this property meet most of your needs? How is the price over-all? Is it a good deal? Can you afford it? What will buying this property do to enhance your life?
I walk you through the contract so you know exactly what you are signing and what it means. We need to tailor your offer using our expertise of the seller's psychology. We research liens against the property, how much the seller owes, recent comparables, time on market, and patterns in sales and pricing in the neighborhood.
The offer is tailored to meet your needs. I work hand in hand with your lender to make sure we write an offer that they can close.
Multiple offer situations happen occasionally. You do not necessarily have to be the highest offer to win it is all about the big picture. There is an art to writing strong offers.
Presentation of the offer is important. This needs to be done properly. A poorly written offer with a prequalification letter from an on-line lender you have never met, is not a real offer. My goal is to present you as a strong buyer with a great loan. A fully qualified buyer that will easily close on the home is key.
YOUR OFFER WAS ACCEPTED NOW WHAT?
Most escrows last 30 to 45 days. MOST lenders don't need more than 45 days to get your loan to close.
Your offer is accepted ...the clock is ticking and the real work begins.
Inspections Contingency Period
Your offer has an inspection period usually 17 days in California.This gives you 17 days to do any and all inspections that you have a right to. You will receive a Buyer Inspection Advisory which will outline all of the inspections that you may perform. AS IS only means what you know before you conduct any inspections. During this time, if you find anything that is not satisfactory,you have the right to ask for a repair, price reduction, or credit. This is all negotiable. If you and the seller can not come to a meeting of the minds during your due diligence period, you may back out of the contract and you will receive your earnest money back.
Your lender has a lot of work to do as well an appraisal will be ordered to make sure that the property is worth the amount you are paying. If it does not appraise, then that is another negotiable item. During this time, it is very stressful as there are discoveries, and negotiations and usually, everything works out. You look at your agent as the pilot, you just sit back fasten your seat belt and breath through the turbulence. Once everything is agreed upon, the condition is satisfactory, the loan is completely approved and we are ready for documents to be sent to escrow for signing, we will release all contingencies. This means, all systems go and there is no stopping us now.
SIGNING FUNDING GETTING THE KEYS
Once your loan docs have been signed, You have brought your closing funds to escrow, the documents will go back to the lender, obtain final approved and the bank will fund the loan. The escrow officer will officially record the sale. The home is yours, I give you the keys and we celebrate.
Signing, funding, recording, and getting keys is the highlight of the process. I still get a thrill every time I hand someone the keys to their new home.
The home buying process is complicated, expensive, and challenging . You can search for homes on the internet, go to open houses, make offers with listing agents. The fact that an agent can show you any available home is great, but that is not the primary reason why you hire someone to help during this emotionally charged period of your life.
The value of a buyer's agent in the modern real estate landscape is absolute. If you are in the market to buy a home and you are trying to do it alone, calling on yard signs and on Zillow listings you are making it harder than it should be. Most of those yard signs are under contract. Same goes for Zillow, Realtor.com and other sites. Many of the homes that you see sold months ago.
OK, so you did some research, or maybe this is your 9th home purchase. Good, that means you are better able to determine who to hire, and more importantly, who not to hire as a buyer's agent.
Make sure to research real estate agents and check out their testimonials. It's very easy to do. Just google their name. If you use the first agent that you talk to for help on writing a contract, it is like playing Russian Roulette. The likelihood that they closed on a house in the last month, let alone the last year, is much lower than you would think. Experience matters and WHO YOU WORK WITH MATTERS.
Buyer representation is free of charge to buyers. The seller pays the buyer's agent's commission. So you can hire a massively experienced Realtor who handles everything for you without being charged a dime. That's why it's important to find someone you and your family trust to help you with such an important purchase.
As you interview agents make sure they have a process and can clearly articulate what they do to bring you value that goes beyond opening doors and writing a contract. Every transaction is unique, but I use the same process every single time because IT WORKS.
Ready to get started? Just say the word.