9 Steps to Owning

Looking to buy a new home in San Diego? The Lotzof Group can help.

Purchasing a home is a stressful event for most people. However, with a bit of up-front planning, it isn’t very confusing. So you’ll know exactly what to expect, I like to supply my buyers with an outline of the whole deal. These are my nine steps to buying a home.

Should you have any questions regarding any of this information or if you’re prepared to get started, you can contact us here or send e-mail to Marc@LotzofRealEstate.com.

Step 1 – Prepare to buy
Prior to beginning your home search, there are several things you should contemplate. When you begin your search, you’ll want to assemble an index of items you want, get a feeling for what school districts and neighborhoods you want to live in, and start planning your budget. Ensuring your mortgage payment is less than 30 percent of your monthly income is a good guideline to follow.

Step 2 – Talk to a real estate agent in San Diego 
This is where we can help. We will book a time to meet so we can talk about your real estate needs and get an idea of your upcoming plans. We’ll talk about neighborhoods, school districts in your area of interest, the mortgage industry, and any additional economic factors that might affect your purchase today or in the future.

In addition, we will assist you in getting started on your loan. The Lotzof Group works with some of San Diego’s best mortgage professionals, so you can rest assured that you’re in great hands. They can assist you with determining which kind of loan is best for you and help you get qualified.

Step 3 – Begin house-hunting
After our first meeting, we will begin finding available houses on the market that are a great fit for you. we will get a sneak peek of most of the houses and remove the duds, and then we’ll set up appointments to view the houses whenever it’s convenient for you.

When we view homes, we will identify positive features and bad ones. we will also ask you to tell us about things you like and dislike. Usually, buyers revise their wish list as we view homes and some features become far more important than others. If such is the case, we will go back through all the listings again and narrow it down to the house you’ve been dreaming about.

Step 4 – Get a grasp of the market
Your agent’s awareness of the local housing market is an imperative element in your home search. And I can assure you we are acquainted with all the school districts and neighborhoods, and we will let you know some districts are “hot” and call for prompt action and the ones that are “cold” and allow for thoughtful analysis.

When we view houses, we will make sure to communicate when the asking price has room for negotiation and also when we trust the home is “priced to sell.” When working with an agent, be on guard and make sure you ask a lot of questions, as any REALTOR® will tell you they understand the housing market. If it seems like they don’t know everything, contact us at (619) 994-7653 or e-mail  Marc@LotzofRealEstate.com, and we will be glad to answer any questions you have. Our knowledge of the market will keep you a step ahead through the entire process.

Step 5 – Find your dream home
We are positive we’ll find your dream home in San Diego, and when we do, we will thoroughly create your home purchase offer. The offer will be made with your needs in mind. Whenever necessary, we never forget to make contracts contingent upon items like your ability to secure financing and the results of the home inspection.

Let The Lotzof Group guide you through finding your dream home in La JollaWhen we present your purchase offer, most likely you’ll need to submit “earnest money.” This is a cash deposit made to the home seller to secure the offer to buy the property. The amount is often put towards the cost of closing. If the offer is accepted by the seller, we should close on the property about 30 to 60 days after. This allows ample time for your mortgage financing.

Step 6 – Negotiate the deal
Unfortunately most contracts don’t close on the initial offer. It’s widely common to receive a counter offer. But don’t let this alarm you. We’ll talk over whether or not to agree to the counter offer, propose our own counter offer, or reject the seller’s offer and go on.

Market circumstances will play a part in how aggressively we negotiate the contract. In addition, we’ll work within your budget. And when it’s all said and done, we’ll formulate a deal that is best for you.

Step 7 – Secure your loan
Upon completion of the deal, you’ll start working with your lender to close the loan. If you’re pre-approved, this won’t take much time at all. However, you’ll need to keep in close contact with your mortgage lender. And we will take care of all the property information your mortgage lender will need to close the loan.

Step 8 – Close the deal
You’ll get a Good Faith Estimate (GFE) outlining closing costs from your lender within three days of accepting your application. This estimate depends on the loan amount, and RESPA requirements mandate that it has to include all closing costs and be within a strict range of accuracy. We will examine the estimate and let you know if it all looks permissible.

Then we’ll close on your house. This will likely happen at a title company or escrow office and will most often be a smooth and calm affair.

Step 9 – Move in
Congratulations! Now you can move into your new house. Enjoy it. And if you have any questions, simply contact us at (619) 994-7653 or Contact Us here.