Deciding to Buy
To BuyChoosing A
Agent Time to
California Homebuyers Keyword
“Preparation” is the most important word California Homebuyers should remember as they compete in our current California Real Estate Market. In fact, we can add to this discussion that popular “5 P” phrase:
“Proper Preparation Promotes Peak Performance”
You are the key player on Team Peak Performance!
Most California Real Estate Agents in our current 2023 real estate market, will do all they can to help you prepare to compete in this heated California market because they know that all the best opportunities are won by those homebuyers that are best prepared.
Many homebuyers start the process with emotions ranging from happy excitement to feeling overwhelmed. Let’s face it; for most Californians, our homes are the largest and most expensive purchase that most of us will make in a lifetime.
Here are a few key tips to help 2018 California Homebuyers prepare for the adventure of purchasing property in the California Marketplace.
Start Gathering Your Key Documents.
If you plan to finance the purchase of your new home, you will need to start gathering key personal documents that loan professionals will need to help you qualify for your new mortgage. These documents include, but are not limited to the following:
- Personal Identification, such as driver licenses, state identification card, your Social Security card, work visa, etc. In today’s lending world, loan underwriters are required to verify the identity of all borrowers as part of the loan approval process.
- Your Federal Tax Returns (State Returns are not used) and your W2s, or 1099s for the two most recent years. If self-employed be prepared to provide business tax returns and additional financial statements, i.e. profit & loss, balance sheet etc.
- Your payroll/paycheck statements, pension statements, Social Security benefits, covering the most recent 30 days from the date of your loan application.
- Most recent mortgage statements and homeowner insurance policy for your current home. If you are renting, the loan underwriter will need contact information for your landlord or property management company.
- Monthly Bank Statements for the two most recent months. These statements will be used to verify the source of funds for your down payment and the amount assets available to you to complete the purchase transaction.
- Letters of explanation for any derogatory information that appears on your credit report. We all have ups and downs in life, so do not be afraid to share any information that may help the loan underwriter understand all the facts.
- A list of your outstanding consumer debt completes with the name of the creditor and account numbers.
Write out a list of the things that you want and a list of the features that you need in your new home. Share this list with your agent so that they can better help find what you are looking for. Update or add to your list as you think of things and share those changes with your agent.
Your agent is going to keep solid records of the homes that you see. However, you should also keep your own notes as you go to open houses. After each home, share what you liked and what you didn’t like with your agent. That will help him or her narrow the search down for you. Selecting the right home is a learning process. As you visit more and more properties, you and your real estate agent will learn what areas of the community you prefer and the features and qualities of a home that are most important to you.
One of the most important bits of advice for prospective homebuyers is to stay positive. Even after you have found the home that you want, made an offer, and had it accepted, the process of closing the deal can sometimes take longer than you’d like. Stay positive. If you’ve looked at several houses and still haven’t found what you want, stay calm. Trust your agent to get it right for you.
Make Wise Choices:
Your new “BFI” in finding your new home is the person you select to be your real estate agent. An agent for any homebuyers is an invaluable asset. They can help you navigate the process when you are unsure of what to do next. The real estate agent you select needs to be someone you can call and speak freely with and ask any questions. Purchasing and financing real estate is a process. If you choose wisely, your real estate agent will work tirelessly to make the process as simple and painless as possible for you.
Get PreQualified :
If you are just starting the homebuying process and would like to speak with a mortgage expert, then simply click on the button below and you will be connected with mortgage experts that can help you get started in becoming pre-qualified for a real estate loan.