Buying a home in Encinitas?

For most people, buying a home can be a stressful event. However, with some up-front planning, it's not too complex. I like to give buyers a road map of the entire deal so they know exactly what to expect. Here are my nine steps to purchasing a home.

If you have any questions regarding this information or if you're ready to get started, you can contact me here or send e-mail to dougsanborn@sanbornfinancial.com.

Step 1 – Prepare to buy
There are many things you should do prior to commencing your home search. You'll want to create an index of must-have features, get a feeling for what neighborhoods and school districts you'd like to live in, and start planning your budget. Ensuring your mortgage payment is less than 1/3 of your net monthly income is a good principle to go by.

Step 2 – Get with a real estate agent
This is where I can help. I'd like to schedule a time to meet with you and speak with you regarding your real estate needs and get an idea of your plans for the future. We'll discuss the mortgage and housing industries, other economic factors that may potentially affect your purchase today or in the future, as well as neighborhoods and schools in the Encinitas area.

I can also help you start the loan process. I partner with some of Encinitas's finest mortgage professionals, so you can rest assured that you're in great hands. They will assist you in choosing which kind of loan is best for you and help you get approved.

Step 3 – Begin house-hunting
Following our first meeting, I'll start searching for homes on the market that are good for you. I'll research most of the homes and ignore the bad ones, and then we'll set up appointments to tour the houses whenever it's most convenient for you.

When we view homes, I'll call attention to positive features, as well as negative ones. I'll even ask you to tell me about things you like and dislike. It's pretty common for buyers to change their wish list as we tour houses and some features become far more essential than others. If that happens, I'll search all the listings again and trim it down to the house you've been waiting for.

Step 4 – Get a grasp of the housing market
Your agent's understanding of the Encinitas housing market is an imperative element in your house search. And I assure you I'm conscious of all the schools and neighborhoods, and I will let you know some areas are "hot" and require immediate action and the ones that are "cool" and allow for more examination.

When we view houses, I'll be sure to tell you when the asking price has room for bargaining and also when I trust the house is "priced to sell." Be on guard and be sure to ask your agent a lot of questions, as any real estate agent in Encinitas will claim to understand the housing market. If things don't add up, just call me at (760) 943-7200 or e-mail me at dougsanborn@sanbornfinancial.com, and I'd be happy to answer your questions. My market expertise will help you stay a step above the rest through the entire deal.

Step 5 – Find the house you've been looking for
I know we'll find your dream home in the Encinitas area, and when that happens, I'll precisely develop your real estate purchase offer. The offer will be tailored keeping your needs in mind. Whenever necessary, I never forget to make contracts contingent upon items like acquiring financing and the results of the home inspection.

Let Sanborn Financial guide you through finding your dream home in Encinitas Upon submitting your purchase offer, you'll need to present "earnest money." This is a cash deposit submitted to a home seller to secure an offer to purchase the property. The amount is most often put towards the closing costs. If the offer is accepted, we should close on the home about 30 to 60 days afterward. This allows sufficient time for your mortgage financing.

Step 6 – Negotiate
Most contracts don't close on the beginning offer. It's extremely common to receive a counter offer. But don't let it alarm you. We'll talk over whether or not to accept the counter offer, propose our own counter offer, or reject the seller's offer and go on.

Market circumstances will play a big part in how aggressively we negotiate the contract. We'll also work within your budget. And at the end of the day, we'll compose a deal that's best for you.

Step 7 – Secure your loan
After the deal is finalized, you'll start working with your lender to close the loan. If you've been pre-approved, it won't take much time at all, but you need to stay in close contact with your mortgage lender. And I'll handle all the property information your mortgage lender needs to close the loan.>

Step 8 – Close the deal
Your mortgage lender will provide you with a Good Faith Estimate (GFE) outlining closing costs within three days of taking your application. This estimate is formed from the loan amount. RESPA requirements dictate that it has to contain all closing costs and fall within a close range of accuracy, and I'll review the estimate and let you know if everything looks okay.

Then it's time to close on your home. This should take place at a title company or escrow office and will most often be a smooth and easygoing occurrence.

Step 9 – Move in
Success! It's time to move into your new home. Enjoy it. And if you need anything or have any questions, just contact me at (760) 943-7200 or send me an e-mail.

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