Are you buying your home in Orange County?

For a lot of people, buying a home is a stressful event. But with a little up-front planning, it isn't very difficult. I like to provide buyers with a road map of the entire deal so they understand exactly what they can expect. Here are my nine steps to buying a home.

Step 1 – Prepare to purchase
There are plenty of things you should consider prior to beginning your home search. You'll probably want to form a checklist of features you want to have, get a feel for what neighborhoods and school districts you'd like to live in, and start planning around your budget. A good guideline to follow is that your mortgage payment should be less than or close to a third of your monthly income.

Step 2 – Get in touch with a real estate agent in Orange County
This is where Simpson Realty can help. I'll plan a time to get together so we can talk about why you want to buy a home and get an idea of your plans for the future. We'll discuss the mortgage and housing industries, other economic factors that could affect your buying decision today or in the future, as well as neighborhoods and schools in the Orange County area.

I can also assist you with getting started on your loan. Simpson Realty partners with some of the finest mortgage professionals in Orange County, so you'll be in great hands. They'll assist you with choosing which type of loan is best for you and help you get approved.

Step 3 – Begin your home search
After our initial meeting, I'll begin finding houses on the market that meet your needs. I'll get a sneak peek of many of the homes and eliminate the bad ones, and then we'll book appointments to tour the houses at a time that's convenient for you.

As we view the houses, I'll identify good features, as well as bad ones. And I'll ask you what things you like and don't like. Most often, buyers revise their wish list as we tour houses and some items become more substantial than others. If that's the situation, I'll look through all the listings again and narrow it down to the house of your dreams.

Step 4 – Know the market
Your agent's awareness of the Orange County home market is an essential agent in your house search. And I assure you I'm mindful of all the schools and neighborhoods, and I'll communicate certain neighborhoods are "hot" and require prompt action and the others that are "cool" and allow for more analysis.

When we tour houses, I'll be sure to tell you when the asking price has room for bargaining and also when I know the house is "priced to sell." Any real estate agent will claim to know the home market, but take notice, and be sure to ask a lot of questions. If it doesn't seem like they know everything, call me at 714-423-7410 or e-mail me at info@simpsonrealty.com, and I'd be happy to answer any questions you may have. My understanding of the market will help you stay a step ahead through the entire process.

Step 5 – Find your dream house
I'm certain we'll find the home of your dreams in the Orange County area. When that happens, I'll meticulously develop your real estate purchase offer. The offer will be tailored exactly to your needs, including a lot of contingencies. A few examples are acquiring financing, carrying out the inspection, and a clean title.

When turning in your offer, you'll need to present "earnest money." This is a cash deposit submitted to a seller to secure the offer to purchase the property, and it's usually applied to the cost of closing. If the seller accepts the offer, we should close on the home within 30 to 60 days afterward. This allows necessary time for your mortgage financing.

Step 6 – Negotiate the deal
Most deals aren't closed on the beginning offer. It's very common to receive a counter offer. But don't let this intimidate you. We'll talk about whether or not to accept the counter offer, submit our own counter offer, or decline the seller's offer and go on.

How aggressively we negotiate the contract depends on the state of the market. We'll also work within your financing constraints. And at the end of the day, we'll assemble a deal that is best for you.

Step 7 – Secure a loan
After we sign the final deal, you'll start working with your mortgage lender to close the loan. This shouldn't take much time at all if you're pre-qualified, but you should to stay in close contact with your lender. And I'll manage all the property information your lender needs to close the loan.>

Step 8 – Close the deal
Your lender will give you a Good Faith Estimate (GFE) outlining closing costs within three days of receiving your application. This estimate is formed from the loan amount. RESPA requirements require that it has to include all closing costs and be within a narrow range of accuracy, and I'll study the estimate and let you know if it all looks permissible.

Then we'll close on your home. This will probably happen at a title company or escrow office and will probably be a smooth and pleasant occasion.

Step 9 – Move in
Congratulations! Now you can move into your new house. Enjoy it. And if you have any questions, be sure to contact me at 714-423-7410 or send me an e-mail.