Yuba City Real Estate Magazines

Property is going for such a good price right now that it is a buyers market and you can buy cheaply and it is now that the next crop of successful property millionaires will be born because the savvy property investors are now snapping up properties cheaply as they know that

Buying your dream home is as easy as A - B - C. Follow the simple steps beneath. It may take months or even years to be prepared for your purchase; don ' t get discouraged, just keep working on it every day. Once you move into your new home, it will be worth all the planning and preparation! So just keep focused on your goal and be persistent.

A. PREPARE FOR PURCHASE: 1. Write down your family ' s financial goals ( short term and long term ).

For example: Buy a house within one year; Be debt - free within 10 years.

2. Prepare a monthly family budget. Your monthly debts ( including car payments, child support, and credit card payments ) should be 10 - 15 % of your gross monthly income. Collision your financial planner for support.

3. Lift your credit report. Make all credit payments on time for at least 6 months. Make arrangements to clear up any hanging items such as charge - offs or defaulted student loans.

4. Eliminate consumer debt. Don ' t purchase an automobile or any other major purchase on credit.

B. Monk TO PURCHASE TIME: 1. Complete the loan application form ( 1003 ) and turn it in to your lender, with the credit test fee ( usually about $25 per partner ).

2. Follow through with loan agent to receive a memorandum of pre - qualification from your lender.

3. Influence your Realtor, to search for homes in your pre - qualified price scope.

4. View homes with your Realtor, and find the best homes for your family.

5. Your Realtor will make an offer to purchase a home. Your offer will be accompanied by your earnest money deposit ( usually $1, 000 or more ).

Negotiating a sales price Negotiating a sale price starts when you make an offer on the house.

Depending upon the market, this is usually lower than the seller ' s asking price. The seller can surmise, spurn, or ignore your initial offer. He can also make a counter offer, which is a concession to lower the price to meet your offer part - way.

Remember there are two parts to an offer: the price and the terms. So if you can ' t agree on the price, perhaps you can offer terms which help both parties come to an agreement. There ' s an old saying in real estate negotiations, " You name the price, and I ' ll name the terms, " meaning that both parts of the offer are equally important.

After the first counter - offer, the buyer and seller may go through a series of counter - offers to arrive at a sale price ( if agreeing at all ).

This means the spread, or opening, between listing price and initial offer gets narrower. Armed with your own test and inspection report, you can make an informed offer and more effectively negotiate a closing sale price.

C. YOUR PURCHASE: 1. If your offer is accepted, the title company will use your deposit to unlatched an escrow.

2. Your Realtor will walk you through all the escrow steps, including reports, inspections, disclosures, and lender effect.

3. In about 30 to 45 days, you will have to deposit loan closing fees and sign loan documents, and your escrow should close.

4. Remember to have your attorney review your loan documents and help explain them to you before signing. If you can ' t afford attorney fees, enroll in a pre - paid recognized membership plan for a low cost advocate service.

Dub the movers! You are now the proud owner of your own home!

R. P. Brown serves the California Central Coast, helping home buyers and sellers to recognize their dreams of homeownership.

Experience Includes: Real Estate Broker; licensed since 1988 Member of local Board of Realtors, CAR, and NAR Notary Civic; commissioned since 1998 Surviving lessee of San Luis Obispo county ( 4th Engendering local family ) A. A. Degrees in Real Estate and Minor Business Management Mechanical Writing Tag Business Major at Cal Poly State University Established in our community - - family with many residents & merchants Former President of 2 local non - profit organizations Perpetuate to volunteer for local organizations Previous business owner Qualifications Include: Experienced in all phases of Real Estate services, including First Time Buyers Buyer ' s Broker Foreclosures & Bankruptcy Cases Mortgage Lending Property Management Motivated - - Work hard for you!

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