Looking to Buy a home in California? Schneider Estates Realty offers exceptional service to those looking to purchase Real Estate. We provide extensive market research and knowledge, home searches, buyer tours and negotiating power. You will be advised of comparable home sales area of your interest, the best price to offer and more. Our goal as is to secure the property you want, at the most reasonable price possible. Our clients have the advantage when buying a home because we have Home Mortgage Consultants, home inspectors, moving companies, decorators and contractors and pre-negotiated rates that are exclusive for our clients.
Buying a house or commercial space is a big step. In order to help you along the way, we have put together a concise and comprehensive buyer’s guide.
“Failing to prepare is like preparing to fail.” – John R. Wooden
Gather Your Financial Documents
The first step to buying a property is to assess what type (size, cost, location ect.) of property can fit into your budget. This can be done on your own; and we would be happy to assist you in the process should you want a helping hand. The information you will need to make an informed buying decision will include:
- Financial Statements
- Bank Accounts
- Credit Card Statements
- Auto Loan Statements
- Recent Paycheck Stubs
- Tax Returns For The Past Two years
- A Copy Of The Lease For An Investment Property
- 401K Statements, Life Insurance
- Any Other Investments (Stocks, Bonds, and Mutual Account Information)
Check Your Credit Rating
You should also check your credit rating; this will be important when it comes to calculating interest should you decide to take a mortgage. This information will also help to decide whether a Fixed Rate Mortgage or Adjustable Rate Mortgage (ARM) will be best. Lenders use three credit rating services, so it might be a good idea to make sure you check all three (and most of them do): Equifax, Experian, and Trans Union.
2. Choosing A Real Estate Agent
“You can tell a lot about a person by the way she handles these three things: a rainy day, lost luggage, and tangled Christmas tree lights.” – Maya Angelou
And I would add to buying a house to that list—it is tough work! Most people find it is easiest to get through the complex process with an agent by their side. A real estate agent brings you benifits such as:
Price Knowledge and Guidance
Negotiation Skills and Dedication
Education and Experience
Assurance of a Smooth Successful Buying Experience
Should you decide to hire an agent, it is important that he or she be dedicated to you, available at all times, and in constant contact. In this business time is money, and properties are there one day, and sold the next; so, it is important that you feel confident that you are your agent’s top priority.
3. Finding The Perfect Property
“Toto, I have a feeling we’re not in Kansas anymore.” – Dorothy, L. Frank Baum’s The Wizard of Oz
See What’s Out There
Next comes the exciting part. Once you have made your preparations, it is time to go shopping for the perfect home or commercial space. There are several ways to tap into and search the real estate market. This can include classified ads or sales catalogs, and if you have hired a real estate agent you will have access to the Multiple Listing Service (MLS). The MLS is the largest national resource for available properties, as well as properties that have been listed in the past but since expired.
Select Your Favorites
Once you have found properties that interest you, you will want to refine your list to several realistic choices, and weigh the pros and cons of each. This assessment should focus on aesthetics, fit, size, cost, location, and any other factors that may interest you.
Once you have your list, it is time to make offers on the houses. Here it it especially helps to have an informed real estate agent, who will know the Fair Market Value (FMV) of the property, what you can get it for; additionally, you may receive the benefit of having an experienced, full-time negotiator to get you the best possible deal. By securing the best possible deal, an agent leaves you free and clear of the burdens and headaches that come along with the complex process of buying or selling a home.
4. Open Escrow
“Don’t cry because it’s over. Smile because it happened.” – Dr. Seuss
Once your offer is accepted it is time to find an Escrow Company. The escrow company holds the buyer’s down payment and the seller’s title, and makes the exchange once both are secured. We offer a full-range of friendly and accredited escrow companies, whom we have experience working with. So don’t hesitate to be in touch!
5. Closing and Final Walkthrough
“Happiness lies in the joy of achieving your goals.” – Franklin Delano Roosevelt
It’s time to dot-the-ts and cross-the-i’s, and begin life in your new home. Whether you choose to give us or another agent a call, or go at it alone, we wish you all the best of luck, and we congratulate you on making the big decision to enter the market as a prospective buyer.